PYTH

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0211%/8h= −23.1% APRnext payment −$0.26 per $10,000 · paid last 24h +0.001%

Price spread now: Backpack against Lighter+0.006%7-day average — · you sell dearer than you buy

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

Long on Lighter Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.180%+$18 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$6 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.180%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter PYTH	0.06347	0.0096	pay 0.0012% / 1h	7m 56s	$194K	$211K	5x
Short	Backpack PYTH_USDC_PERP	0.06347	−0.0115	pay 0.0014% / 1h	7m 56s	$38K	$63K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Lighter. 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 LighterbpFee BackpackbpOrdersPrice spread, now +0.006%Rate

Funding earned: −$44.29
Price spread: +0.006% → 0.000%: $0.63
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$53.66
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 27 min ago; Backpack: 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 Lighter live order book, 27 min ago	3.13 bp	25.0 bp −$25	113.5 bp −$1,135	doesn't fit	doesn't fit
Sell Backpack no order-book sample	—	—	—	—	—

Backpack: 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_PERPshort	−0.0115%	1h	0.06347	+0.006%	$38K	$63K	10x
Deribit PYTH_USDC-PERPETUAL	−0.0065%	1h	0.06349	+0.032%	$10K	$10K	10x	as long as short
Gate PYTH_USDT	−0.0038%	4h	0.06325	−0.347%	$1.0M	$518K	75x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06350	+0.044%	$189K	$19	5x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−1.371%	$553	$220K	5.5x	as long as short
MEXC PYTH_USDT	+0.0036%	4h	0.06341	−0.095%	$10.7M	$2.9M	125x	as long as short
Binance PYTHUSDT	+0.0036%	4h	0.06342	−0.079%	$9.1M	$18.4M	75x	as long as short
BloFin PYTH-USDT	+0.0037%	4h	0.06340	−0.110%	$426K	$77K	75x	as long as short
Aevo PYTH-PERP	+0.0088%	1h	0.06340	−0.109%	$23K	—	3x	as long as short
Aster PYTHUSDT	+0.0092%	4h	0.06345	−0.029%	$20K	$45K	10x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter PYTHlong	+0.0096%	1h	0.06347	long leg	$194K	$211K	5x
Paradex PYTH-USD-PERP	+0.0100%	8h	0.06332	−0.240%	$3K	—	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06349	+0.035%	$2.3M	$1.8M	5x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	0.06344	−0.047%	$7.5M	$4.8M	50x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06340	−0.110%	$2.1M	$3.5M	50x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06340	−0.110%	$1.5M	$346K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06340	−0.110%	$2.7M	$2.1M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06336	−0.173%	—	$2.7M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06350	+0.052%	$38K	$25K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06339	−0.131%	$2K	$2K	10x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0152%	1h	0.06493	+2.300%	$40K	$19K	25x	as long as short
Kraken Futures PF_PYTHUSD	+0.0299%	1h	0.06347	−0.006%	$388K	$301K	25x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06333	−0.214%	—	—	20x	as long as short