Funding you earn now, next payment 23:00 UTC−0.0279%/8h= −30.6% APRnext payment −$0.35 per $10,000 · paid last 24h −0.017%
Price spread now: Coinbase International against Backpack−0.492%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+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 −$8 a day on $10k at the current rate, and Coinbase International is 0.492% cheaper against Backpack than usual: you would sell low and buy high (−$49 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack PYTH_USDC_PERP | 0.06359 | 0.0455 | pay 0.0057% / 1h | 55m 31s | $36K | $89K | 10x |
| Short | Coinbase International PYTH-PERP-INTX | 0.06328 | 0.0176 | get 0.0022% / 1h | 55m 31s | $39K | $6K | 25x |
Backpack PYTH_USDC_PERP
Coinbase International PYTH-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- −$58.66
- Price spread: −0.492% → 0.000%
- −$49.22
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$127.88
- Costs to cover
- 0.200%
- Break-even
- never at this rate
Slippage unknown: Backpack: no order-book sample; Coinbase International: 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 Backpack no order-book sample | — | — | — | — | — |
| Sell Coinbase International no order-book sample | — | — | — | — | — |
Backpack and Coinbase International: 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_PYTHUSD | −0.0397% | 1h | 0.06355 | −0.066% | $378K | $264K | 25x | as long as short |
| BloFin PYTH-USDT | −0.0098% | 4h | 0.06340 | −0.303% | $422K | $116K | 75x | as long as short |
| MEXC PYTH_USDT | −0.0086% | 4h | 0.06350 | −0.146% | $9.6M | $2.3M | 125x | as long as short |
| Binance PYTHUSDT | −0.0085% | 4h | 0.06350 | −0.145% | $9.1M | $17.1M | 75x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06354 | −0.081% | $189K | $19 | 5x | as long as short |
| Deribit PYTH_USDC-PERPETUAL | 0.0000% | 1h | 0.06362 | +0.042% | $10K | $10K | 10x | as long as short |
| Gate PYTH_USDT | +0.0004% | 4h | 0.06348 | −0.178% | $1.1M | $474K | 75x | as long as short |
| Bybit PYTHUSDT | +0.0021% | 4h | 0.06354 | −0.083% | $7.5M | $4.8M | 50x | as long as short |
| Injective PYTH/USDC PERP | +0.0033% | 1h | 0.06260 | −1.561% | $553 | $220K | 5.5x | as long as short |
| Aevo PYTH-PERP | +0.0056% | 1h | 0.06358 | −0.019% | $23K | — | 3x | as long as short |
Kraken Futures PF_PYTHUSD
BloFin PYTH-USDT
MEXC PYTH_USDT
Binance PYTHUSDT
dYdX PYTH-USD
Deribit PYTH_USDC-PERPETUAL
Gate PYTH_USDT
Bybit PYTHUSDT
Injective PYTH/USDC PERP
Aevo PYTH-PERPShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster PYTHUSDT | +0.0070% | 4h | 0.06347 | −0.190% | $25K | $44K | 10x | as long as short |
| Lighter PYTH | +0.0096% | 1h | 0.06358 | −0.020% | $201K | $217K | 5x | as long as short |
| Paradex PYTH-USD-PERP | +0.0100% | 8h | 0.06349 | −0.168% | $3K | $56 | 10x | as long as short |
| Hyperliquid PYTH | +0.0100% | 1h | 0.06357 | −0.039% | $1.7M | $1.5M | 5x | as long as short |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06355 | −0.068% | $2.1M | $3.4M | 50x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06355 | −0.068% | $1.5M | $316K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06351 | −0.131% | $2.6M | $2.0M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06351 | −0.131% | — | $2.8M | — | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06310 | −0.773% | $44K | $22K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06350 | −0.142% | $3K | $1K | 10x | as long as short |
| Coinbase International PYTH-PERP-INTXshort | +0.0176% | 1h | 0.06328 | −0.492% | $39K | $6K | 25x | |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06350 | −0.151% | — | — | 20x | as long as short |
| Backpack PYTH_USDC_PERPlong | +0.0455% | 1h | 0.06359 | long leg | $36K | $89K | 10x |
Aster PYTHUSDT
Lighter PYTH
Paradex PYTH-USD-PERP
Hyperliquid PYTH
OKX PYTH-USDT-SWAP
KuCoin PYTHUSDTM
Bitget PYTHUSDT
BingX PYTH-USDT
Variational Omni PYTH
Orderly PERP_PYTH_USDC_mythos
Reya PYTHRUSDPERP