Funding arb · Price arb /

PYTH

all PYTH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against KuCoin0.000%7-day average −0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs−$228as in the Funding arb table

Net, price: spread back to 7d avg − costs−$223as in the Price arb table

costs, in and out, $10k−$2282.275% of the position

Long on KuCoin Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 7 days−0.116%−$12 · spread now 0.000%, 7d avg −0.041%

Together, before fees−0.116%−$12 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: BingX is 0.041% dearer against KuCoin than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PYTHUSDTM	0.06259	0.0100	pay 0.0050% / 4h	2h 03m	$1.5M	$312K	50x
Short	BingX PYTH-USDT	0.06259	0.0100	get 0.0050% / 4h	2h 03m	—	$2.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against KuCoin. 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 KuCoinbpFee BingXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → −0.041%: $4.12
Slippage, 4 orders: −$205.52
Fee KuCoin: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$223.41
Costs to cover: 2.275%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; BingX: live order book, 1 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 KuCoin live order book, 2 min ago	10.38 bp	140.3 bp −$140	813.6 bp −$8,136	doesn't fit	doesn't fit
Sell BingX live order book, 1 min ago	4.00 bp	17.8 bp −$18	52.0 bp −$520	205.6 bp −$20.6K	434.8 bp −$217.4K

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	+1.454%	$561	$180K	5.5x	as long as short
Kraken Futures PF_PYTHUSD	−0.0219%	1h	0.06261	+0.026%	$380K	$253K	25x	as long as short
Gate PYTH_USDT	−0.0046%	4h	0.06253	−0.096%	$1.1M	$480K	75x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06261	+0.025%	$186K	$19	5x	as long as short
Deribit PYTH_USDC-PERPETUAL	0.0000%	1h	0.06261	+0.032%	$10K	$10K	10x	as long as short
MEXC PYTH_USDT	+0.0016%	4h	0.06254	−0.080%	$9.2M	$2.4M	125x	as long as short
BloFin PYTH-USDT	+0.0017%	4h	0.06265	+0.096%	$422K	$115K	75x	as long as short
Binance PYTHUSDT	+0.0022%	4h	0.06256	−0.048%	$9.0M	$16.7M	75x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0048%	1h	0.06431	+2.748%	$40K	$6K	25x	as long as short
Aevo PYTH-PERP	+0.0088%	1h	0.06260	+0.016%	$22K	—	3x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter PYTH	+0.0096%	1h	0.06263	+0.064%	$194K	$207K	5x	as long as short
Paradex PYTH-USD-PERP	+0.0099%	8h	0.06260	+0.012%	$3K	$56	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06259	+0.008%	$1.6M	$1.5M	5x	as long as short
Aster PYTHUSDT	+0.0100%	4h	0.06258	−0.009%	$19K	$30K	10x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	0.06261	+0.032%	$7.4M	$5.1M	50x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06258	−0.016%	$2.1M	$3.3M	50x	as long as short
KuCoin PYTHUSDTMlong	+0.0100%	4h	0.06259	long leg	$1.5M	$312K	50x
Bitget PYTHUSDT	+0.0100%	4h	0.06259	0.000%	$2.6M	$1.9M	75x	as long as short
BingX PYTH-USDTshort	+0.0100%	4h	0.06259	0.000%	—	$2.8M	—
Backpack PYTH_USDC_PERP	+0.0100%	1h	0.06261	+0.032%	$38K	$88K	10x	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06260	+0.019%	$44K	$22K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06255	−0.064%	$3K	$1K	10x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06253	−0.092%	—	—	20x	as long as short