Funding arb · Price arb /

PYTH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against KuCoin+0.016%7-day average −0.053% · you sell dearer than you buy

Net, funding: paid 7d − costs−$236as in the Funding arb table

Net, price: spread back to 7d avg − costs−$229as in the Price arb table

costs, in and out, $10k−$2352.355% of the position

Long on KuCoin Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.004%$0 on $10k

Price spread, last 7 days−0.132%−$13 · spread now +0.016%, 7d avg −0.053%

Together, before fees−0.136%−$14 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.069% dearer against KuCoin than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.053%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PYTHUSDTM	0.06360	0.0100	pay 0.0050% / 4h	3h 43m	$1.5M	$325K	50x
Short	Bitget PYTHUSDT	0.06361	0.0100	get 0.0050% / 4h	3h 43m	$2.6M	$2.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against KuCoin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee KuCoinbpFee BitgetbpOrdersPrice spread, now +0.016%Rate

Funding earned: $0
Price spread: +0.016% → −0.053%: $6.85
Slippage, 4 orders: −$211.49
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$228.64
Costs to cover: 2.355%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; Bitget: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy KuCoin live order book, 3 min ago	12.58 bp	123.4 bp −$123	811.6 bp −$8,116	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	3.93 bp	23.4 bp −$23	63.8 bp −$638	doesn't fit	doesn't fit

PYTH on 23 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PYTHUSDT	−0.0179%	4h	0.06358	−0.033%	$9.2M	$17.6M	75x	as long as short
MEXC PYTH_USDT	−0.0178%	4h	0.06357	−0.047%	$9.7M	$2.4M	125x	as long as short
BloFin PYTH-USDT	−0.0156%	4h	0.06354	−0.094%	$426K	$113K	75x	as long as short
Kraken Futures PF_PYTHUSD	−0.0136%	1h	0.06368	+0.134%	$390K	$289K	25x	as long as short
Coinbase International PYTH-PERP-INTX	−0.0064%	1h	0.06368	+0.126%	$40K	$18K	25x	as long as short
Aster PYTHUSDT	−0.0012%	4h	0.06355	−0.083%	$22K	$44K	10x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06353	−0.109%	$189K	$19	5x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−1.572%	$553	$220K	5.5x	as long as short
Aevo PYTH-PERP	+0.0040%	1h	0.06365	+0.079%	$23K	—	3x	as long as short
Bybit PYTHUSDT	+0.0069%	4h	0.06361	+0.016%	$7.6M	$4.8M	50x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter PYTH	+0.0096%	1h	0.06370	+0.157%	$201K	$198K	5x	as long as short
Paradex PYTH-USD-PERP	+0.0100%	8h	0.06348	−0.181%	$3K	$56	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06366	+0.094%	$1.9M	$1.6M	5x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06358	−0.031%	$2.1M	$3.4M	50x	as long as short
Gate PYTH_USDT	+0.0100%	4h	0.06352	−0.126%	$1.1M	$468K	75x	as long as short
KuCoin PYTHUSDTMlong	+0.0100%	4h	0.06360	long leg	$1.5M	$325K	50x
Bitget PYTHUSDTshort	+0.0100%	4h	0.06361	+0.016%	$2.6M	$2.1M	75x
BingX PYTH-USDT	+0.0100%	4h	0.06357	−0.047%	—	$2.8M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06358	−0.031%	$38K	$27K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06356	−0.066%	$3K	$2K	10x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06357	−0.043%	—	—	20x	as long as short
Backpack PYTH_USDC_PERP	+0.0853%	1h	0.06348	−0.186%	$35K	$92K	10x	as long as short
Deribit PYTH_USDC-PERPETUAL	+0.1947%	1h	0.06384	+0.377%	$10K	$10K	10x	as long as short