PYTH

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0218%/8h= −23.9% APRnext payment −$1.09 per $10,000 · paid last 24h −0.013%

Price spread now: BloFin against KuCoin−0.156%50s7-day average −0.102% · you buy dearer than you sell

Net, funding: paid 7d − costs−$265as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2562.558% of the position

Long on KuCoin Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.092%−$9 on $10k

Price spread, last 3 days (all we have)−0.089%−$9 · spread now −0.156%, 7d avg −0.102%

Together, before fees−0.181%−$18 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and BloFin is 0.055% cheaper against KuCoin than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.102%). Swap the legs. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.092% in total (about -4.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.09 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PYTHUSDTM	0.06398	0.0100	pay 0.0050% / 4h	2h 50m	$1.5M	$333K	50x
Short	BloFin PYTH-USDT	0.06388	−0.0118	pay 0.0059% / 4h	2h 50m	$433K	$113K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.156%Rate

Funding earned: −$45.82
Price spread: −0.156% → −0.102%: −$5.47
Slippage, 4 orders: −$231.76
Fee KuCoin: 6 bp × 2 orders: −$12
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$307.05
Costs to cover: 2.558%
Break-even: never at this rate

Slippage from KuCoin: live order book, 11 min ago; BloFin: live order book, 15 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, 11 min ago	10.95 bp	143.1 bp −$143	773.0 bp −$7,730	doesn't fit	doesn't fit
Sell BloFin live order book, 15 min ago	3.09 bp	14.8 bp −$15	31.8 bp −$318	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
BloFin PYTH-USDTshort	−0.0118%	4h	0.06388	−0.156%	$433K	$113K	75x
MEXC PYTH_USDT	−0.0114%	4h	0.06391	−0.109%	$9.7M	$2.4M	125x	as long as short
Binance PYTHUSDT	−0.0112%	4h	0.06392	−0.097%	$9.2M	$17.8M	75x	as long as short
Coinbase International PYTH-PERP-INTX	−0.0064%	1h	0.06402	+0.063%	$40K	$18K	25x	as long as short
Aster PYTHUSDT	−0.0006%	4h	0.06392	−0.095%	$20K	$46K	10x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06393	−0.077%	$190K	$19	5x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−2.157%	$553	$220K	5.5x	as long as short
Aevo PYTH-PERP	+0.0056%	1h	0.06396	−0.038%	$23K	—	3x	as long as short
Deribit PYTH_USDC-PERPETUAL	+0.0062%	1h	0.06403	+0.078%	$10K	$10K	10x	as long as short
Lighter PYTH	+0.0096%	1h	0.06401	+0.047%	$191K	$204K	5x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex PYTH-USD-PERP	+0.0100%	8h	0.06389	−0.143%	$3K	—	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06398	−0.006%	$2.0M	$1.6M	5x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	0.06391	−0.109%	$7.6M	$4.9M	50x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06391	−0.109%	$2.1M	$3.4M	50x	as long as short
Gate PYTH_USDT	+0.0100%	4h	0.06386	−0.188%	$1.1M	$489K	75x	as long as short
KuCoin PYTHUSDTMlong	+0.0100%	4h	0.06398	long leg	$1.5M	$333K	50x
Bitget PYTHUSDT	+0.0100%	4h	0.06397	−0.016%	$2.7M	$2.2M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06392	−0.094%	—	$2.8M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06383	−0.242%	$39K	$27K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06395	−0.053%	$3K	$2K	10x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06389	−0.136%	—	—	20x	as long as short
Kraken Futures PF_PYTHUSD	+0.0374%	1h	0.06402	+0.066%	$393K	$291K	25x	as long as short
Backpack PYTH_USDC_PERP	+0.0625%	1h	0.06392	−0.088%	$38K	$93K	10x	as long as short