PYTH

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0118%/8h= +12.9% APRnext payment +$0.15 per $10,000 · paid last 24h +0.010%

Price spread now: Backpack against Lighter−0.036%7-day average — · you buy dearer than you sell

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

Long on Lighter Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.170%+$17 on $10k

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

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Funding pays, the price is against you. Backpack is 0.036% cheaper against Lighter than usual: you would sell low and buy high (spread −0.036% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 25 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter PYTH	0.06353	0.0096	pay 0.0012% / 1h	19m 34s	$197K	$206K	5x
Short	Backpack PYTH_USDC_PERP	0.06351	0.0214	get 0.0027% / 1h	19m 34s	$38K	$87K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Lighter. 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 LighterbpFee BackpackbpOrdersPrice spread, now −0.036%Rate

Funding earned: $24.73
Price spread: −0.036% → 0.000%: −$3.62
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Backpack: 5 bp × 2 orders: −$10
Net: $11.11
Costs to cover: 0.100%
Break-even: 3.9 days

Slippage unknown: Lighter: live order book, 63 min ago; Backpack: 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 Lighter live order book, 63 min ago	3.91 bp	15.6 bp −$16	96.4 bp −$964	doesn't fit	doesn't fit
Sell Backpack no order-book sample	—	—	—	—	—

Backpack: 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 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
Injective PYTH/USDC PERP	−0.0586%	1h	0.06350	−0.047%	$561	$180K	5.5x	as long as short
Deribit PYTH_USDC-PERPETUAL	−0.0380%	1h	0.06348	−0.079%	$10K	$10K	10x	as long as short
Kraken Futures PF_PYTHUSD	−0.0216%	1h	0.06350	−0.051%	$384K	$240K	25x	as long as short
Gate PYTH_USDT	−0.0024%	4h	0.06351	−0.031%	$1.1M	$466K	75x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06351	−0.037%	$189K	$19	5x	as long as short
MEXC PYTH_USDT	+0.0016%	4h	0.06346	−0.110%	$9.4M	$2.4M	125x	as long as short
Binance PYTHUSDT	+0.0017%	4h	0.06343	−0.157%	$9.1M	$15.9M	75x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0048%	1h	0.06431	+1.228%	$40K	$6K	25x	as long as short
BloFin PYTH-USDT	+0.0062%	4h	0.06339	−0.220%	$423K	$117K	75x	as long as short
Aevo PYTH-PERP	+0.0080%	1h	0.06340	−0.200%	$23K	—	3x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter PYTHlong	+0.0096%	1h	0.06353	long leg	$197K	$206K	5x
Paradex PYTH-USD-PERP	+0.0099%	8h	0.06344	−0.139%	$3K	$56	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06352	−0.020%	$1.7M	$1.5M	5x	as long as short
Aster PYTHUSDT	+0.0100%	4h	0.06344	−0.137%	$20K	$24K	10x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	0.06347	−0.094%	$7.5M	$4.9M	50x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06347	−0.094%	$2.1M	$3.3M	50x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06350	−0.047%	$1.5M	$304K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06348	−0.079%	$2.6M	$1.9M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06347	−0.094%	—	$2.8M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06348	−0.076%	$44K	$23K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06345	−0.127%	$3K	$1K	10x	as long as short
Backpack PYTH_USDC_PERPshort	+0.0214%	1h	0.06351	−0.036%	$38K	$87K	10x
Reya PYTHRUSDPERP	+0.0302%	1h	0.06342	−0.174%	—	—	20x	as long as short