Funding arb · Price arb /

PYTH

all PYTH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h −0.012%

Price spread now: Binance against BloFin+0.221%91s7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$640.639% of the position

Long on BloFin Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 4 days (all we have)+0.278%+$28 · spread now +0.221%, 7d avg +0.022%

Together, before fees+0.270%+$27 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.199% dearer against BloFin than usual: you sell high and buy low, +$20 on $10k if it goes back to its 7-day average of +0.022%. The two prices were read 91 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	BloFin PYTH-USDT	0.06343	−0.0017	get 0.0009% / 4h	1h 33m	$426K	$90K	75x
Short	Binance PYTHUSDT	0.06357	−0.0018	pay 0.0009% / 4h	1h 33m	$9.1M	$17.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against BloFin. 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 BloFinbpFee BinancebpOrdersPrice spread, now +0.221%Rate

Funding earned: −$0.04
Price spread: +0.221% → +0.022%: $19.86
Slippage, 4 orders: −$41.85
Fee BloFin: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$44.04
Costs to cover: 0.639%
Break-even: never at this rate

Slippage from BloFin: live order book, 7 min ago; Binance: live order book, 7 min ago.

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 BloFin live order book, 7 min ago	5.54 bp	16.9 bp −$17	27.9 bp −$279	doesn't fit	doesn't fit
Sell Binance live order book, 7 min ago	2.37 bp	17.7 bp −$18	42.5 bp −$425	280.3 bp −$28.0K	doesn't fit

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
Backpack PYTH_USDC_PERP	−0.0397%	1h	0.06362	+0.298%	$39K	$50K	10x	as long as short
Gate PYTH_USDT	−0.0248%	4h	0.06351	+0.126%	$1.0M	$500K	75x	as long as short
MEXC PYTH_USDT	−0.0022%	4h	0.06356	+0.205%	$9.5M	$2.4M	125x	as long as short
Binance PYTHUSDTshort	−0.0018%	4h	0.06357	+0.221%	$9.1M	$17.8M	75x
BloFin PYTH-USDTlong	−0.0017%	4h	0.06343	long leg	$426K	$90K	75x
dYdX PYTH-USD	0.0000%	1h	0.06360	+0.264%	$189K	$19	5x	as long as short
Aster PYTHUSDT	+0.0005%	4h	0.06357	+0.216%	$20K	$46K	10x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−1.309%	$553	$220K	5.5x	as long as short
Aevo PYTH-PERP	+0.0072%	1h	0.06360	+0.268%	$23K	—	3x	as long as short
Lighter PYTH	+0.0096%	1h	0.06364	+0.331%	$191K	$204K	5x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex PYTH-USD-PERP	+0.0100%	8h	0.06354	+0.171%	$3K	—	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06361	+0.277%	$2.0M	$1.7M	5x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	0.06356	+0.205%	$7.5M	$4.8M	50x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06356	+0.205%	$2.1M	$3.4M	50x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06357	+0.221%	$1.5M	$342K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06351	+0.126%	$2.7M	$2.1M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06353	+0.158%	—	$2.7M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06336	−0.106%	$38K	$26K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06358	+0.240%	$3K	$2K	10x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0176%	1h	0.06369	+0.410%	$39K	$18K	25x	as long as short
Kraken Futures PF_PYTHUSD	+0.0301%	1h	0.06366	+0.355%	$388K	$291K	25x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06359	+0.254%	—	—	20x	as long as short
Deribit PYTH_USDC-PERPETUAL	+0.1322%	1h	0.06371	+0.441%	$10K	$10K	10x	as long as short