Funding you earn now, next payment 02:00 UTC+0.0745%/8h= +81.6% APRpaid last 24h +0.030%
Price spread now: Backpack against MEXC+0.147%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.276%+$28 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work for this trade now. Funding pays +$22 a day on $10k at the current rate, and Backpack is 0.147% dearer against MEXC than usual: you sell high and buy low: +$15 more if the spread goes back to zero (this spread has no 7-day history yet).
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.276% in total (about 14.4% a year). A funding rate is set anew for every payment. 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 | MEXC PYTH_USDT | 0.06383 | −0.0120 | get 0.0060% / 4h | 2h 50m | $9.7M | $2.4M | 125x |
| Short | Backpack PYTH_USDC_PERP | 0.06392 | 0.0625 | get 0.0078% / 1h | 50m 58s | $38K | $93K | 10x |
MEXC PYTH_USDT
Backpack PYTH_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against MEXC. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $156.54
- Price spread: +0.147% → 0.000%
- $14.73
- Slippage, 4 orders
- no order book: not counted
- Fee MEXC: 0 bp × 2 orders
- $0
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $161.27
- Costs to cover
- 0.100%
- Break-even
- from the start
Slippage unknown: MEXC: live order book, 2 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 MEXC live order book, 2 min ago | 2.35 bp | 6.2 bp −$6 | 14.5 bp −$145 | 92.4 bp −$9,239 | 179.2 bp −$89.6K |
| 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 | |
|---|---|---|---|---|---|---|---|---|
| MEXC PYTH_USDTlong | −0.0120% | 4h | 0.06383 | long leg | $9.7M | $2.4M | 125x | |
| BloFin PYTH-USDT | −0.0118% | 4h | 0.06388 | +0.078% | $433K | $113K | 75x | as long as short |
| Binance PYTHUSDT | −0.0114% | 4h | 0.06388 | +0.078% | $9.2M | $17.8M | 75x | as long as short |
| Coinbase International PYTH-PERP-INTX | −0.0064% | 1h | 0.06402 | +0.298% | $40K | $18K | 25x | as long as short |
| Aster PYTHUSDT | −0.0008% | 4h | 0.06387 | +0.069% | $20K | $46K | 10x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06392 | +0.141% | $190K | $19 | 5x | as long as short |
| Injective PYTH/USDC PERP | +0.0033% | 1h | 0.06260 | −1.927% | $553 | $220K | 5.5x | as long as short |
| Aevo PYTH-PERP | +0.0056% | 1h | 0.06384 | +0.014% | $23K | — | 3x | as long as short |
| Lighter PYTH | +0.0096% | 1h | 0.06396 | +0.204% | $191K | $204K | 5x | as long as short |
| Paradex PYTH-USD-PERP | +0.0100% | 8h | 0.06372 | −0.170% | $3K | — | 10x | as long as short |
BloFin PYTH-USDT
Binance PYTHUSDT
Coinbase International PYTH-PERP-INTX
Aster PYTHUSDT
dYdX PYTH-USD
Injective PYTH/USDC PERP
Aevo PYTH-PERP
Lighter PYTH
Paradex PYTH-USD-PERPShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid PYTH | +0.0100% | 1h | 0.06392 | +0.138% | $2.0M | $1.6M | 5x | as long as short |
| Bybit PYTHUSDT | +0.0100% | 4h | 0.06390 | +0.110% | $7.6M | $4.9M | 50x | as long as short |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06389 | +0.094% | $2.1M | $3.4M | 50x | as long as short |
| Gate PYTH_USDT | +0.0100% | 4h | 0.06379 | −0.063% | $1.1M | $489K | 75x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06393 | +0.157% | $1.5M | $333K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06393 | +0.157% | $2.7M | $2.2M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06390 | +0.110% | — | $2.8M | — | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06383 | −0.008% | $39K | $27K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06385 | +0.034% | $3K | $2K | 10x | as long as short |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06378 | −0.078% | — | — | 20x | as long as short |
| Kraken Futures PF_PYTHUSD | +0.0375% | 1h | 0.06394 | +0.173% | $392K | $291K | 25x | as long as short |
| Deribit PYTH_USDC-PERPETUAL | +0.0532% | 1h | 0.06396 | +0.204% | $10K | $10K | 10x | as long as short |
| Backpack PYTH_USDC_PERPshort | +0.0625% | 1h | 0.06392 | +0.147% | $38K | $93K | 10x |
Hyperliquid PYTH
Bybit PYTHUSDT
OKX PYTH-USDT-SWAP
Gate PYTH_USDT
KuCoin PYTHUSDTM
Bitget PYTHUSDT
BingX PYTH-USDT
Variational Omni PYTH
Orderly PERP_PYTH_USDC_mythos
Reya PYTHRUSDPERP
Kraken Futures PF_PYTHUSD
Deribit PYTH_USDC-PERPETUAL