PYTH

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0052%/8h= +5.7% APRnext payment +$0.07 per $10,000 · paid last 24h +0.020%

Price spread now: Hyperliquid against Coinbase International−1.376%7-day average — · you buy dearer than you sell

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

Long on Coinbase International Short on Hyperliquid

What this pair did over the last

the charts below follow

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—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Funding pays, the price is against you. Hyperliquid is 1.376% cheaper against Coinbase International than usual: you would sell low and buy high (spread −1.376% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$138 on $10k: about 3 months of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International PYTH-PERP-INTX	0.06431	0.0048	pay 0.0006% / 1h	44m 14s	$40K	$6K	25x
Short	Hyperliquid PYTH	0.06342	0.0100	get 0.0013% / 1h	44m 14s	$1.7M	$1.4M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Coinbase InternationalbpFee HyperliquidbpOrdersPrice spread, now −1.376%Rate

Funding earned: $10.92
Price spread: −1.376% → 0.000%: −$137.61
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$145.69
Costs to cover: 0.190%
Break-even: 100.4 days

Slippage unknown: Coinbase International: no order-book sample; Hyperliquid: live order book, 6 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 Coinbase International no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 6 min ago	1.26 bp	17.7 bp −$18	doesn't fit	doesn't fit	doesn't fit

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
Injective PYTH/USDC PERP	−0.0586%	1h	0.06350	−1.260%	$561	$180K	5.5x	as long as short
Kraken Futures PF_PYTHUSD	−0.0216%	1h	0.06345	−1.336%	$384K	$240K	25x	as long as short
Gate PYTH_USDT	−0.0118%	4h	0.06332	−1.539%	$1.1M	$464K	75x	as long as short
Bybit PYTHUSDT	−0.0051%	4h	0.06345	−1.337%	$7.5M	$5.0M	50x	as long as short
Binance PYTHUSDT	−0.0016%	4h	0.06340	−1.415%	$9.2M	$15.9M	75x	as long as short
MEXC PYTH_USDT	−0.0012%	4h	0.06337	−1.462%	$9.4M	$2.4M	125x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06347	−1.306%	$188K	$19	5x	as long as short
Deribit PYTH_USDC-PERPETUAL	0.0000%	1h	0.06353	−1.213%	$10K	$10K	10x	as long as short
BloFin PYTH-USDT	+0.0017%	4h	0.06337	−1.462%	$426K	$121K	75x	as long as short
Coinbase International PYTH-PERP-INTXlong	+0.0048%	1h	0.06431	long leg	$40K	$6K	25x

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PYTH-PERP	+0.0080%	1h	0.06340	−1.415%	$23K	—	3x	as long as short
Lighter PYTH	+0.0096%	1h	0.06350	−1.260%	$197K	$203K	5x	as long as short
Paradex PYTH-USD-PERP	+0.0099%	8h	0.06334	−1.510%	$3K	$56	10x	as long as short
Hyperliquid PYTHshort	+0.0100%	1h	0.06342	−1.376%	$1.7M	$1.4M	5x
Aster PYTHUSDT	+0.0100%	4h	0.06347	−1.302%	$20K	$26K	10x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06338	−1.446%	$2.1M	$3.3M	50x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06346	−1.322%	$1.5M	$312K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06341	−1.399%	$2.6M	$1.9M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06340	−1.415%	—	$2.8M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06345	−1.337%	$44K	$23K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06340	−1.423%	$3K	$1K	10x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06339	−1.431%	—	—	20x	as long as short
Backpack PYTH_USDC_PERP	+0.0424%	1h	0.06345	−1.339%	$38K	$88K	10x	as long as short