Funding arb · Price arb /

PYTH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0089%/8h= +9.8% APRpaid last 24h +0.029%

Price spread now: Paradex against dYdX−0.167%7-day average — · you buy dearer than you sell

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

Long on dYdX 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 0.167% cheaper against dYdX than usual: you would sell low and buy high (spread −0.167% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$17 on $10k: about 6.2 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	dYdX PYTH-USD	0.06262	0.0011	pay 0.0001% / 1h	25m 59s	$186K	$13	5x
Short	Paradex PYTH-USD-PERP	0.06251	0.0100	get 0.0100% / 8h	7h 25m	$3K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against dYdX. 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 dYdXbpFee ParadexbpOrdersPrice spread, now −0.167%Rate

Funding earned: $18.72
Price spread: −0.167% → 0.000%: −$16.66
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$11.94
Costs to cover: 0.140%
Break-even: 11.5 days

Slippage unknown: dYdX: live order book, 8 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 dYdX live order book, 8 min ago	30.91 bp	35.9 bp −$36	83.2 bp −$832	127.5 bp −$12.8K	416.0 bp −$208.0K
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	−0.0004%	1h	0.06267	+0.077%	$35K	$60K	10x	as long as short
Deribit PYTH_USDC-PERPETUAL	0.0000%	1h	0.06262	+0.004%	$10K	$10K	10x	as long as short
dYdX PYTH-USDlong	+0.0011%	1h	0.06262	long leg	$186K	$13	5x
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−0.028%	$553	$220K	5.5x	as long as short
BloFin PYTH-USDT	+0.0072%	4h	0.06249	−0.204%	$429K	$71K	75x	as long as short
MEXC PYTH_USDT	+0.0072%	4h	0.06256	−0.092%	$10.8M	$2.8M	125x	as long as short
Binance PYTHUSDT	+0.0073%	4h	0.06267	+0.080%	$9.0M	$19.7M	75x	as long as short
Lighter PYTH	+0.0096%	1h	0.06267	+0.084%	$194K	$215K	5x	as long as short
Aevo PYTH-PERP	+0.0096%	1h	0.06260	−0.031%	$22K	—	3x	as long as short
Paradex PYTH-USD-PERPshort	+0.0100%	8h	0.06251	−0.167%	$3K	—	10x

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PYTH	+0.0100%	1h	0.06263	+0.015%	$2.1M	$2.0M	5x	as long as short
Aster PYTHUSDT	+0.0100%	4h	0.06261	−0.012%	$21K	$48K	10x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	0.06269	+0.116%	$7.5M	$4.9M	50x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06270	+0.132%	$2.1M	$3.5M	50x	as long as short
Gate PYTH_USDT	+0.0100%	4h	0.06252	−0.156%	$1.0M	$510K	75x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06265	+0.052%	$1.5M	$370K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06254	−0.124%	$2.6M	$2.3M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06257	−0.076%	—	$2.8M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06280	+0.299%	$40K	$26K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06255	−0.101%	$2K	$2K	10x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06253	−0.144%	—	—	20x	as long as short
Kraken Futures PF_PYTHUSD	+0.0471%	1h	0.06263	+0.023%	$380K	$295K	25x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0536%	1h	0.06427	+2.639%	$40K	$19K	25x	as long as short