Funding arb · Price arb /

PYTH

all PYTH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0041%/8h= +4.5% APRpaid last 24h +0.024%

Price spread now: Paradex against Binance−0.113%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Binance Short on Paradex

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 pays, the price is against you. Paradex is 0.113% cheaper against Binance than usual: you would sell low and buy high (spread −0.113% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 9.2 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PYTHUSDT	0.06447	0.0059	pay 0.0029% / 4h	21m 17s	$9.2M	$18.2M	75x
Short	Paradex PYTH-USD-PERP	0.06440	0.0100	get 0.0100% / 8h	4h 21m	$3K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Binance. 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 BinancebpFee ParadexbpOrdersPrice spread, now −0.113%Rate

Funding earned: $8.6
Price spread: −0.113% → 0.000%: −$11.3
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$16.7
Costs to cover: 0.140%
Break-even: 20.6 days

Slippage unknown: Binance: live order book, 5 min ago; Paradex: 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 Binance live order book, 5 min ago	0.77 bp	13.9 bp −$14	31.6 bp −$316	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

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
Gate PYTH_USDT	−0.0112%	4h	0.06436	−0.171%	$1.1M	$513K	75x	as long as short
Backpack PYTH_USDC_PERP	−0.0086%	1h	0.06443	−0.056%	$38K	$59K	10x	as long as short
Deribit PYTH_USDC-PERPETUAL	−0.0060%	1h	0.06459	+0.186%	$10K	$10K	10x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06453	+0.090%	$192K	$19	5x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−2.901%	$553	$220K	5.5x	as long as short
Binance PYTHUSDTlong	+0.0059%	4h	0.06447	long leg	$9.2M	$18.2M	75x
MEXC PYTH_USDT	+0.0060%	4h	0.06445	−0.031%	$10.5M	$2.7M	125x	as long as short
Aster PYTHUSDT	+0.0067%	4h	0.06442	−0.084%	$21K	$44K	10x	as long as short
BloFin PYTH-USDT	+0.0074%	4h	0.06462	+0.233%	$427K	$81K	75x	as long as short
Lighter PYTH	+0.0096%	1h	0.06452	+0.078%	$193K	$210K	5x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PYTH-PERP	+0.0096%	1h	0.06450	+0.042%	$23K	—	3x	as long as short
Paradex PYTH-USD-PERPshort	+0.0100%	8h	0.06440	−0.113%	$3K	—	10x
Hyperliquid PYTH	+0.0100%	1h	0.06453	+0.101%	$2.3M	$1.8M	5x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	0.06445	−0.031%	$7.6M	$4.8M	50x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06448	+0.016%	$2.1M	$3.5M	50x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06448	+0.016%	$1.5M	$348K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06447	0.000%	$2.8M	$2.2M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06449	+0.031%	—	$2.7M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06443	−0.065%	$39K	$25K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06449	+0.028%	$2K	$2K	10x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0104%	1h	0.06476	+0.450%	$40K	$19K	25x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06445	−0.033%	—	—	20x	as long as short
Kraken Futures PF_PYTHUSD	+0.0405%	1h	0.06458	+0.167%	$394K	$288K	25x	as long as short