Funding you earn now, next payment 23:00 UTC−0.0043%/8h= −4.7% APRpaid last 24h −0.016%
Price spread now: Gate against Backpack−0.059%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−0.198%−$20 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 −$1 a day on $10k at the current rate, and Gate is 0.059% cheaper against Backpack than usual: you would sell low and buy high (−$6 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 | 0.06262 | −0.0005 | get 0.0001% / 1h | 50m 45s | $38K | $88K | 10x |
| Short | Gate PYTH_USDT | 0.06258 | −0.0048 | pay 0.0024% / 4h | 1h 50m | $1.1M | $477K | 75x |
Backpack PYTH_USDC_PERP
Gate PYTH_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate 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
- −$8.95
- Price spread: −0.059% → 0.000%
- −$5.91
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$39.85
- Costs to cover
- 0.250%
- Break-even
- never at this rate
Slippage unknown: Backpack: no order-book sample; Gate: live order book, 1 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 Gate live order book, 1 min ago | 3.99 bp | 38.7 bp −$39 | doesn't fit | doesn't fit | doesn't fit |
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 | −0.0428% | 1h | 0.06260 | −0.027% | $553 | $220K | 5.5x | as long as short |
| Kraken Futures PF_PYTHUSD | −0.0209% | 1h | 0.06260 | −0.035% | $380K | $253K | 25x | as long as short |
| Deribit PYTH_USDC-PERPETUAL | −0.0069% | 1h | 0.06259 | −0.043% | $10K | $10K | 10x | as long as short |
| Gate PYTH_USDTshort | −0.0048% | 4h | 0.06258 | −0.059% | $1.1M | $477K | 75x | |
| Backpack PYTH_USDC_PERPlong | −0.0005% | 1h | 0.06262 | long leg | $38K | $88K | 10x | |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06276 | +0.234% | $186K | $19 | 5x | as long as short |
| Bybit PYTHUSDT | +0.0024% | 4h | 0.06261 | −0.011% | $7.4M | $5.1M | 50x | as long as short |
| Binance PYTHUSDT | +0.0028% | 4h | 0.06258 | −0.059% | $9.1M | $16.9M | 75x | as long as short |
| MEXC PYTH_USDT | +0.0032% | 4h | 0.06256 | −0.091% | $9.1M | $2.3M | 125x | as long as short |
| BloFin PYTH-USDT | +0.0042% | 4h | 0.06257 | −0.075% | $421K | $114K | 75x | as long as short |
Injective PYTH/USDC PERP
Kraken Futures PF_PYTHUSD
Deribit PYTH_USDC-PERPETUAL
dYdX PYTH-USD
Bybit PYTHUSDT
Binance PYTHUSDT
MEXC PYTH_USDT
BloFin PYTH-USDTShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International PYTH-PERP-INTX | +0.0080% | 1h | 0.06431 | +2.704% | $40K | $6K | 25x | as long as short |
| Aevo PYTH-PERP | +0.0088% | 1h | 0.06255 | −0.107% | $22K | — | 3x | as long as short |
| Lighter PYTH | +0.0096% | 1h | 0.06267 | +0.085% | $196K | $208K | 5x | as long as short |
| Paradex PYTH-USD-PERP | +0.0099% | 8h | 0.06254 | −0.120% | $3K | $56 | 10x | as long as short |
| Hyperliquid PYTH | +0.0100% | 1h | 0.06265 | +0.048% | $1.6M | $1.5M | 5x | as long as short |
| Aster PYTHUSDT | +0.0100% | 4h | 0.06267 | +0.085% | $19K | $40K | 10x | as long as short |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06258 | −0.059% | $2.1M | $3.4M | 50x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06262 | +0.005% | $1.5M | $314K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06262 | +0.005% | $2.6M | $2.0M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06260 | −0.027% | — | $2.8M | — | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06271 | +0.156% | $44K | $22K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06263 | +0.027% | $3K | $1K | 10x | as long as short |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06257 | −0.070% | — | — | 20x | as long as short |
Coinbase International PYTH-PERP-INTX
Aevo PYTH-PERP
Lighter PYTH
Paradex PYTH-USD-PERP
Hyperliquid PYTH
Aster PYTHUSDT
OKX PYTH-USDT-SWAP
KuCoin PYTHUSDTM
Bitget PYTHUSDT
BingX PYTH-USDT
Variational Omni PYTH
Orderly PERP_PYTH_USDC_mythos
Reya PYTHRUSDPERP