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% APRpaid last 24h +0.001%

Price spread now: Bitget against Paradex+0.232%52s7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.232% dearer against Paradex than usual: you sell high and buy low, +$23 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex PYTH-USD-PERP	0.06347	0.0100	pay 0.0100% / 8h	7h 44m	$3K	$56	10x
Short	Bitget PYTHUSDT	0.06362	0.0100	get 0.0050% / 4h	3h 44m	$2.6M	$2.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Paradex. 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 ParadexbpFee BitgetbpOrdersPrice spread, now +0.232%Rate

Funding earned: $0.07
Price spread: +0.232% → 0.000%: $23.23
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Bitget: 6 bp × 2 orders: −$12
Net: $7.3
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; Bitget: live order book, 3 min ago. 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 Paradex no order-book sample	—	—	—	—	—
Sell Bitget live order book, 3 min ago	3.93 bp	23.4 bp −$23	63.8 bp −$638	doesn't fit	doesn't fit

Paradex: 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
BloFin PYTH-USDT	−0.0201%	4h	0.06354	+0.106%	$424K	$113K	75x	as long as short
MEXC PYTH_USDT	−0.0178%	4h	0.06360	+0.201%	$9.7M	$2.4M	125x	as long as short
Binance PYTHUSDT	−0.0175%	4h	0.06359	+0.185%	$9.2M	$17.6M	75x	as long as short
Kraken Futures PF_PYTHUSD	−0.0136%	1h	0.06364	+0.267%	$390K	$289K	25x	as long as short
Bybit PYTHUSDT	−0.0069%	4h	0.06364	+0.264%	$7.6M	$4.8M	50x	as long as short
Coinbase International PYTH-PERP-INTX	−0.0064%	1h	0.06368	+0.327%	$40K	$18K	25x	as long as short
Aster PYTHUSDT	−0.0016%	4h	0.06360	+0.204%	$22K	$44K	10x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06367	+0.311%	$189K	$19	5x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−1.375%	$553	$220K	5.5x	as long as short
Aevo PYTH-PERP	+0.0040%	1h	0.06360	+0.201%	$23K	—	3x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PYTH_USDT	+0.0050%	4h	0.06358	+0.169%	$1.1M	$468K	75x	as long as short
Lighter PYTH	+0.0096%	1h	0.06369	+0.343%	$201K	$198K	5x	as long as short
Paradex PYTH-USD-PERPlong	+0.0100%	8h	0.06347	long leg	$3K	$56	10x
Hyperliquid PYTH	+0.0100%	1h	0.06367	+0.311%	$1.9M	$1.6M	5x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06363	+0.248%	$2.1M	$3.4M	50x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06361	+0.217%	$1.5M	$325K	50x	as long as short
Bitget PYTHUSDTshort	+0.0100%	4h	0.06362	+0.232%	$2.6M	$2.1M	75x
BingX PYTH-USDT	+0.0100%	4h	0.06362	+0.232%	—	$2.8M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06358	+0.169%	$38K	$27K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06357	+0.149%	$3K	$2K	10x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06357	+0.158%	—	—	20x	as long as short
Backpack PYTH_USDC_PERP	+0.0849%	1h	0.06370	+0.363%	$35K	$91K	10x	as long as short
Deribit PYTH_USDC-PERPETUAL	+0.1951%	1h	0.06375	+0.437%	$10K	$10K	10x	as long as short