Funding arb · Price arb /

PYTH

all PYTH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0164%/8h= −18.0% APRpaid last 24h −0.007%

Price spread now: Coinbase International against KuCoin+0.362%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on KuCoin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Coinbase International is 0.362% dearer against KuCoin than usual: you sell high and buy low (spread +0.362% now, against zero (this spread has no 7-day history yet)): +$36 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 7.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PYTHUSDTM	0.06346	0.0100	pay 0.0050% / 4h	2h 06m	$1.5M	$341K	50x
Short	Coinbase International PYTH-PERP-INTX	0.06369	−0.0064	pay 0.0008% / 1h	6m 17s	$39K	$18K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.362%Rate

Funding earned: −$34.44
Price spread: +0.362% → 0.000%: $36.24
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$20.2
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: KuCoin: live order book, 4 min ago; Coinbase International: no order-book sample. Net counts fees only.

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, 4 min ago	8.66 bp	141.9 bp −$142	826.6 bp −$8,266	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

PYTH on 22 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
Gate PYTH_USDT	−0.0070%	4h	0.06334	−0.189%	$1.0M	$501K	75x	as long as short
Coinbase International PYTH-PERP-INTXshort	−0.0064%	1h	0.06369	+0.362%	$39K	$18K	25x
MEXC PYTH_USDT	−0.0062%	4h	0.06340	−0.095%	$9.6M	$2.4M	125x	as long as short
Binance PYTHUSDT	−0.0056%	4h	0.06341	−0.085%	$9.1M	$17.7M	75x	as long as short
Aster PYTHUSDT	−0.0008%	4h	0.06350	+0.063%	$20K	$46K	10x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06354	+0.122%	$189K	$19	5x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−1.355%	$553	$220K	5.5x	as long as short
Aevo PYTH-PERP	+0.0064%	1h	0.06342	−0.068%	$23K	—	3x	as long as short
Lighter PYTH	+0.0096%	1h	0.06352	+0.095%	$191K	$206K	5x	as long as short
Paradex PYTH-USD-PERP	+0.0100%	8h	0.06338	−0.126%	$3K	—	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PYTH	+0.0100%	1h	0.06350	+0.069%	$2.0M	$1.7M	5x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	0.06344	−0.032%	$7.5M	$4.8M	50x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06340	−0.095%	$2.1M	$3.4M	50x	as long as short
KuCoin PYTHUSDTMlong	+0.0100%	4h	0.06346	long leg	$1.5M	$341K	50x
Bitget PYTHUSDT	+0.0100%	4h	0.06342	−0.063%	$2.7M	$2.2M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06340	−0.095%	—	$2.8M	—	as long as short
Backpack PYTH_USDC_PERP	+0.0100%	1h	0.06351	+0.072%	$39K	$92K	10x	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06357	+0.172%	$38K	$26K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06343	−0.052%	$3K	$2K	10x	as long as short
Deribit PYTH_USDC-PERPETUAL	+0.0222%	1h	0.06354	+0.126%	$10K	$10K	10x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06341	−0.076%	—	—	20x	as long as short
Kraken Futures PF_PYTHUSD	+0.0378%	1h	0.06348	+0.030%	$388K	$292K	25x	as long as short