Funding arb · Price arb /

PYTH

all PYTH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0086%/8h= +9.4% APRpaid last 24h +0.012%

Price spread now: Paradex against BloFin−0.288%7-day average — · you buy dearer than you sell

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

Long on BloFin 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 0.288% cheaper against BloFin than usual: you would sell low and buy high (spread −0.288% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$29 on $10k: about 11 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PYTH-USDT	0.06329	0.0014	pay 0.0007% / 4h	1h 06m	$424K	$86K	75x
Short	Paradex PYTH-USD-PERP	0.06311	0.0100	get 0.0100% / 8h	5h 06m	$3K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.288%Rate

Funding earned: $18.1
Price spread: −0.288% → 0.000%: −$28.76
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$26.66
Costs to cover: 0.160%
Break-even: 17.3 days

Slippage unknown: BloFin: live order book, 35 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 BloFin live order book, 35 min ago	5.54 bp	16.9 bp −$17	27.9 bp −$279	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
Backpack PYTH_USDC_PERP	−0.0328%	1h	0.06326	−0.043%	$38K	$50K	10x	as long as short
Gate PYTH_USDT	−0.0194%	4h	0.06313	−0.253%	$1.0M	$506K	75x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06329	−0.004%	$188K	$19	5x	as long as short
MEXC PYTH_USDT	+0.0004%	4h	0.06315	−0.221%	$9.7M	$2.5M	125x	as long as short
Binance PYTHUSDT	+0.0004%	4h	0.06316	−0.210%	$9.1M	$17.9M	75x	as long as short
Aster PYTHUSDT	+0.0008%	4h	0.06325	−0.058%	$20K	$43K	10x	as long as short
BloFin PYTH-USDTlong	+0.0014%	4h	0.06329	long leg	$424K	$86K	75x
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−1.090%	$553	$220K	5.5x	as long as short
Aevo PYTH-PERP	+0.0080%	1h	0.06315	−0.221%	$23K	—	3x	as long as short
Lighter PYTH	+0.0096%	1h	0.06327	−0.032%	$190K	$205K	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-PERPshort	+0.0100%	8h	0.06311	−0.288%	$3K	—	10x
Hyperliquid PYTH	+0.0100%	1h	0.06327	−0.024%	$2.0M	$1.6M	5x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	0.06315	−0.221%	$7.5M	$4.7M	50x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06315	−0.221%	$2.1M	$3.3M	50x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06325	−0.063%	$1.5M	$342K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06325	−0.063%	$2.7M	$2.2M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06317	−0.190%	—	$2.7M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06316	−0.209%	$38K	$25K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06316	−0.202%	$3K	$2K	10x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0176%	1h	0.06385	+0.885%	$40K	$18K	25x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06316	−0.199%	—	—	20x	as long as short
Kraken Futures PF_PYTHUSD	+0.0303%	1h	0.06325	−0.069%	$386K	$294K	25x	as long as short
Deribit PYTH_USDC-PERPETUAL	+0.0383%	1h	0.06325	−0.063%	$10K	$10K	10x	as long as short