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 −0.016%

Price spread now: Gate against KuCoin+0.016%7-day average −0.063% · you sell dearer than you buy

Net, funding: paid 7d − costs−$302as in the Funding arb table

Net, price: spread back to 7d avg − costs−$290as in the Price arb table

costs, in and out, $10k−$2982.982% of the position

Long on KuCoin Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.038%−$4 on $10k

Price spread, last 7 days−0.100%−$10 · spread now +0.016%, 7d avg −0.063%

Together, before fees−0.138%−$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: Gate is 0.078% dearer against KuCoin than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.063%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PYTHUSDTM	0.06344	0.0100	pay 0.0050% / 4h	2h 55m	$1.5M	$331K	50x
Short	Gate PYTH_USDT	0.06345	0.0100	get 0.0050% / 4h	2h 55m	$1.1M	$488K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.016%Rate

Funding earned: $0
Price spread: +0.016% → −0.063%: $7.83
Slippage, 4 orders: −$271.18
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$290.35
Costs to cover: 2.982%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; Gate: live order book, 2 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, 6 min ago	10.95 bp	143.1 bp −$143	773.0 bp −$7,730	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	3.95 bp	44.6 bp −$45	doesn't fit	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	−0.0121%	4h	0.06343	−0.016%	$9.1M	$17.8M	75x	as long as short
MEXC PYTH_USDT	−0.0120%	4h	0.06349	+0.079%	$9.6M	$2.4M	125x	as long as short
BloFin PYTH-USDT	−0.0081%	4h	0.06339	−0.079%	$428K	$112K	75x	as long as short
Coinbase International PYTH-PERP-INTX	−0.0064%	1h	0.06505	+2.538%	$40K	$18K	25x	as long as short
Aster PYTHUSDT	−0.0019%	4h	0.06352	+0.131%	$20K	$46K	10x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06345	+0.015%	$188K	$19	5x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−1.324%	$553	$220K	5.5x	as long as short
Aevo PYTH-PERP	+0.0048%	1h	0.06348	+0.065%	$23K	—	3x	as long as short
Lighter PYTH	+0.0096%	1h	0.06356	+0.189%	$190K	$204K	5x	as long as short
Paradex PYTH-USD-PERP	+0.0100%	8h	0.06347	+0.041%	$3K	—	10x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PYTH	+0.0100%	1h	0.06353	+0.142%	$2.0M	$1.7M	5x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	0.06350	+0.095%	$7.6M	$4.9M	50x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06346	+0.032%	$2.1M	$3.4M	50x	as long as short
Gate PYTH_USDTshort	+0.0100%	4h	0.06345	+0.016%	$1.1M	$488K	75x
KuCoin PYTHUSDTMlong	+0.0100%	4h	0.06344	long leg	$1.5M	$331K	50x
Bitget PYTHUSDT	+0.0100%	4h	0.06352	+0.126%	$2.7M	$2.2M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06344	0.000%	—	$2.8M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06342	−0.039%	$38K	$27K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06343	−0.020%	$3K	$2K	10x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06342	−0.031%	—	—	20x	as long as short
Kraken Futures PF_PYTHUSD	+0.0377%	1h	0.06355	+0.179%	$390K	$291K	25x	as long as short
Backpack PYTH_USDC_PERP	+0.0523%	1h	0.06356	+0.183%	$38K	$93K	10x	as long as short
Deribit PYTH_USDC-PERPETUAL	+0.1325%	1h	0.06361	+0.268%	$10K	$10K	10x	as long as short