Funding arb · Price arb /

PYTH

all PYTH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0166%/8h= +18.2% APRpaid last 24h −0.006%

Price spread now: Paradex against Deribit−0.603%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 3 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 0.603% cheaper against Deribit than usual: you would sell low and buy high (spread −0.603% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$60 on $10k: about 12 days of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit PYTH_USDC-PERPETUAL	0.06319	−0.0066	get 0.0008% / 1h	55m 28s	$10K	—	10x
Short	Paradex PYTH-USD-PERP	0.06281	0.0100	get 0.0100% / 8h	6h 55m	$3K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Deribit. 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 DeribitbpFee ParadexbpOrdersPrice spread, now −0.603%Rate

Funding earned: $34.94
Price spread: −0.603% → 0.000%: −$60.34
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$36.4
Costs to cover: 0.110%
Break-even: 14.3 days

Slippage unknown: Deribit: no order-book sample; 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 Deribit no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

Deribit and 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
Deribit PYTH_USDC-PERPETUALlong	−0.0066%	1h	0.06319	long leg	$10K	—	10x
dYdX PYTH-USD	0.0000%	1h	0.06297	−0.353%	$187K	$13	5x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−0.934%	$553	$220K	5.5x	as long as short
BloFin PYTH-USDT	+0.0052%	4h	0.06314	−0.079%	$432K	$73K	75x	as long as short
Lighter PYTH	+0.0096%	1h	0.06307	−0.190%	$194K	$206K	5x	as long as short
Paradex PYTH-USD-PERPshort	+0.0100%	8h	0.06281	−0.603%	$3K	—	10x
Hyperliquid PYTH	+0.0100%	1h	0.06280	−0.611%	$2.1M	$2.0M	5x	as long as short
Aster PYTHUSDT	+0.0100%	4h	0.06290	−0.453%	$19K	$49K	10x	as long as short
Binance PYTHUSDT	+0.0100%	4h	0.06273	−0.723%	$9.0M	$19.6M	75x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	0.06277	−0.665%	$7.5M	$4.7M	50x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06275	−0.696%	$2.1M	$3.5M	50x	as long as short
Gate PYTH_USDT	+0.0100%	4h	0.06298	−0.332%	$1.0M	$489K	75x	as long as short
MEXC PYTH_USDT	+0.0100%	4h	0.06290	−0.459%	$11.3M	$2.8M	125x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06295	−0.380%	$1.5M	$369K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06280	−0.617%	$2.6M	$2.3M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06292	−0.427%	—	$2.8M	—	as long as short
Backpack PYTH_USDC_PERP	+0.0100%	1h	0.06321	+0.038%	$35K	$53K	10x	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06316	−0.043%	$40K	$25K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06315	−0.065%	$2K	$2K	10x	as long as short
Aevo PYTH-PERP	+0.0104%	1h	0.06313	−0.087%	$23K	—	3x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06276	−0.674%	—	—	20x	as long as short
Kraken Futures PF_PYTHUSD	+0.0459%	1h	0.06318	−0.016%	$383K	$275K	25x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0616%	1h	0.06330	+0.174%	$39K	$20K	25x	as long as short