Funding arb · Price arb /

PYTH

all PYTH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.029%

Price spread now: dYdX against Paradex+0.085%7-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 dYdX

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

The price spread pays, funding is against you. dYdX is 0.085% dearer against Paradex than usual: you sell high and buy low (spread +0.085% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex PYTH-USD-PERP	0.06240	0.0100	pay 0.0100% / 8h	2h 38m	$3K	—	10x
Short	dYdX PYTH-USD	0.06245	0	get 0.0000% / 1h	38m 57s	$185K	$19	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.085%Rate

Funding earned: −$21
Price spread: +0.085% → 0.000%: $8.46
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$26.54
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; dYdX: live order book, 10 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 dYdX live order book, 10 min ago	40.12 bp	45.1 bp −$45	158.2 bp −$1,582	209.9 bp −$21.0K	502.8 bp −$251.4K

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
Backpack PYTH_USDC_PERP	−0.0457%	1h	0.06257	+0.279%	$38K	$63K	10x	as long as short
Gate PYTH_USDT	−0.0094%	4h	0.06238	−0.029%	$1.0M	$526K	75x	as long as short
dYdX PYTH-USDshort	0.0000%	1h	0.06245	+0.085%	$185K	$19	5x
Deribit PYTH_USDC-PERPETUAL	0.0000%	1h	0.06261	+0.340%	$10K	$10K	10x	as long as short
Binance PYTHUSDT	+0.0031%	4h	0.06255	+0.244%	$8.9M	$18.8M	75x	as long as short
MEXC PYTH_USDT	+0.0032%	4h	0.06250	+0.164%	$10.4M	$2.6M	125x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	+0.324%	$553	$220K	5.5x	as long as short
BloFin PYTH-USDT	+0.0080%	4h	0.06237	−0.045%	$422K	$74K	75x	as long as short
Aevo PYTH-PERP	+0.0088%	1h	0.06255	+0.244%	$22K	—	3x	as long as short
Lighter PYTH	+0.0096%	1h	0.06255	+0.244%	$191K	$207K	5x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex PYTH-USD-PERPlong	+0.0100%	8h	0.06240	long leg	$3K	—	10x
Hyperliquid PYTH	+0.0100%	1h	0.06257	+0.276%	$2.2M	$1.9M	5x	as long as short
Aster PYTHUSDT	+0.0100%	4h	0.06246	+0.105%	$20K	$45K	10x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	0.06254	+0.228%	$7.4M	$4.8M	50x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06256	+0.260%	$2.1M	$3.5M	50x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06251	+0.180%	$1.5M	$351K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06250	+0.164%	$2.6M	$2.2M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06250	+0.164%	—	$2.7M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06257	+0.275%	$38K	$25K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06252	+0.196%	$2K	$2K	10x	as long as short
Kraken Futures PF_PYTHUSD	+0.0238%	1h	0.06258	+0.296%	$382K	$302K	25x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06248	+0.129%	—	—	20x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0312%	1h	0.06493	+4.058%	$40K	$19K	25x	as long as short