Funding arb · Price arb /

PYTH

all PYTH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0001%/8h= +0.1% APRpaid last 24h +0.001%

Price spread now: KuCoin against Paradex+0.263%47s7-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 KuCoin

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: KuCoin is 0.263% dearer against Paradex than usual: you sell high and buy low, +$26 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 47 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	0.06270	0.0099	pay 0.0099% / 8h	1h 09m	$3K	$56	10x
Short	KuCoin PYTHUSDTM	0.06287	0.0100	get 0.0050% / 4h	1h 09m	$1.5M	$310K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.263%Rate

Funding earned: $0.11
Price spread: +0.263% → 0.000%: $26.33
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $10.44
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; KuCoin: live order book, 6 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 KuCoin live order book, 6 min ago	9.54 bp	76.0 bp −$76	678.4 bp −$6,784	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
Injective PYTH/USDC PERP	−0.0428%	1h	0.06260	−0.167%	$553	$220K	5.5x	as long as short
Kraken Futures PF_PYTHUSD	−0.0208%	1h	0.06282	+0.186%	$382K	$248K	25x	as long as short
Binance PYTHUSDT	−0.0087%	4h	0.06279	+0.131%	$9.0M	$17.0M	75x	as long as short
MEXC PYTH_USDT	−0.0080%	4h	0.06278	+0.120%	$9.1M	$2.3M	125x	as long as short
Bybit PYTHUSDT	−0.0065%	4h	0.06284	+0.216%	$7.4M	$4.7M	50x	as long as short
BloFin PYTH-USDT	−0.0059%	4h	0.06283	+0.200%	$419K	$114K	75x	as long as short
Gate PYTH_USDT	−0.0036%	4h	0.06280	+0.152%	$1.1M	$480K	75x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06288	+0.275%	$187K	$19	5x	as long as short
Deribit PYTH_USDC-PERPETUAL	0.0000%	1h	0.06291	+0.327%	$10K	$10K	10x	as long as short
Aevo PYTH-PERP	+0.0056%	1h	0.06277	+0.099%	$22K	—	3x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PYTHUSDT	+0.0065%	4h	0.06281	+0.168%	$25K	$40K	10x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0080%	1h	0.06431	+2.560%	$40K	$6K	25x	as long as short
Lighter PYTH	+0.0096%	1h	0.06290	+0.311%	$201K	$215K	5x	as long as short
Paradex PYTH-USD-PERPlong	+0.0099%	8h	0.06270	long leg	$3K	$56	10x
Hyperliquid PYTH	+0.0100%	1h	0.06286	+0.246%	$1.7M	$1.5M	5x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06283	+0.200%	$2.1M	$3.3M	50x	as long as short
KuCoin PYTHUSDTMshort	+0.0100%	4h	0.06287	+0.263%	$1.5M	$310K	50x
Bitget PYTHUSDT	+0.0100%	4h	0.06282	+0.184%	$2.6M	$2.0M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06280	+0.152%	—	$2.8M	—	as long as short
Backpack PYTH_USDC_PERP	+0.0100%	1h	0.06287	+0.265%	$38K	$88K	10x	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06283	+0.202%	$44K	$22K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06277	+0.112%	$3K	$1K	10x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06278	+0.114%	—	—	20x	as long as short