Funding you earn now, next payment 22:00 UTC−0.0324%/8h= −35.4% APRpaid last 24h −0.009%
Price spread now: BingX against Backpack−0.077%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.162%−$16 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and BingX is 0.077% cheaper against Backpack than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.162% in total (about -8.4% 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 | Backpack PYTH_USDC_PERP | 0.06345 | 0.0424 | pay 0.0053% / 1h | 44m 27s | $38K | $88K | 10x |
| Short | BingX PYTH-USDT | 0.06340 | 0.0100 | get 0.0050% / 4h | 2h 44m | — | $2.8M | — |
Backpack PYTH_USDC_PERP
BingX PYTH-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX against Backpack. 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
- −$67.96
- Price spread: −0.077% → 0.000%
- −$7.72
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$95.68
- Costs to cover
- 0.200%
- Break-even
- never at this rate
Slippage unknown: Backpack: no order-book sample; BingX: live order book, 5 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 Backpack no order-book sample | — | — | — | — | — |
| Sell BingX live order book, 5 min ago | 3.15 bp | 17.3 bp −$17 | 44.4 bp −$444 | 225.1 bp −$22.5K | 435.4 bp −$217.7K |
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 | +0.080% | $561 | $180K | 5.5x | as long as short |
| Deribit PYTH_USDC-PERPETUAL | −0.0380% | 1h | 0.06348 | +0.049% | $10K | $10K | 10x | as long as short |
| Kraken Futures PF_PYTHUSD | −0.0216% | 1h | 0.06341 | −0.069% | $384K | $240K | 25x | as long as short |
| Gate PYTH_USDT | −0.0118% | 4h | 0.06332 | −0.203% | $1.1M | $464K | 75x | as long as short |
| Bybit PYTHUSDT | −0.0051% | 4h | 0.06339 | −0.093% | $7.4M | $5.0M | 50x | as long as short |
| Binance PYTHUSDT | −0.0016% | 4h | 0.06337 | −0.125% | $9.2M | $15.9M | 75x | as long as short |
| MEXC PYTH_USDT | −0.0012% | 4h | 0.06337 | −0.125% | $9.4M | $2.4M | 125x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06347 | +0.033% | $188K | $19 | 5x | as long as short |
| BloFin PYTH-USDT | +0.0017% | 4h | 0.06337 | −0.125% | $426K | $121K | 75x | as long as short |
| Coinbase International PYTH-PERP-INTX | +0.0048% | 1h | 0.06431 | +1.357% | $40K | $6K | 25x | as long as short |
Injective PYTH/USDC PERP
Deribit PYTH_USDC-PERPETUAL
Kraken Futures PF_PYTHUSD
Gate PYTH_USDT
Bybit PYTHUSDT
Binance PYTHUSDT
MEXC PYTH_USDT
dYdX PYTH-USD
BloFin PYTH-USDT
Coinbase International PYTH-PERP-INTXShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aevo PYTH-PERP | +0.0080% | 1h | 0.06340 | −0.077% | $23K | — | 3x | as long as short |
| Lighter PYTH | +0.0096% | 1h | 0.06347 | +0.033% | $197K | $203K | 5x | as long as short |
| Paradex PYTH-USD-PERP | +0.0099% | 8h | 0.06334 | −0.174% | $3K | $56 | 10x | as long as short |
| Hyperliquid PYTH | +0.0100% | 1h | 0.06342 | −0.038% | $1.7M | $1.4M | 5x | as long as short |
| Aster PYTHUSDT | +0.0100% | 4h | 0.06345 | 0.000% | $20K | $26K | 10x | as long as short |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06339 | −0.093% | $2.1M | $3.3M | 50x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06346 | +0.017% | $1.5M | $312K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06339 | −0.093% | $2.6M | $1.9M | 75x | as long as short |
| BingX PYTH-USDTshort | +0.0100% | 4h | 0.06340 | −0.077% | — | $2.8M | — | |
| Variational Omni PYTH | +0.0100% | 4h | 0.06345 | +0.002% | $44K | $23K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06342 | −0.052% | $3K | $1K | 10x | as long as short |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06339 | −0.093% | — | — | 20x | as long as short |
| Backpack PYTH_USDC_PERPlong | +0.0424% | 1h | 0.06345 | long leg | $38K | $88K | 10x |
Aevo PYTH-PERP
Lighter PYTH
Paradex PYTH-USD-PERP
Hyperliquid PYTH
Aster PYTHUSDT
OKX PYTH-USDT-SWAP
KuCoin PYTHUSDTM
Bitget PYTHUSDT
Variational Omni PYTH
Orderly PERP_PYTH_USDC_mythos
Reya PYTHRUSDPERP