Funding you earn now, next payment 07:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.016%
Price spread now: Bybit against Lighter−0.048%7-day average −0.097% · you buy dearer than you sell
Net, funding: paid 7d − costs−$87as in the Funding arb table
Net, price: spread back to 7d avg − costs−$77as in the Price arb table
costs, in and out, $10k−$820.820% of the position
Funding, last 7 days−0.050%−$5 on $10k
+Price spread, last 4 days (all we have)−0.086%−$9 · spread now −0.048%, 7d avg −0.097%
=Together, before fees−0.136%+ Points / potential airdropLighter: Season 3 · farm board−$14 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: Bybit is 0.049% dearer against Lighter than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.097%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter PYTH | 0.06279 | 0.0096 | pay 0.0012% / 1h | 34m 36s | $192K | $218K | 5x |
| Short | Bybit PYTHUSDT | 0.06276 | 0.0100 | get 0.0050% / 4h | 1h 34m | $7.4M | $4.9M | 50x |
Lighter PYTH
Bybit PYTHUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Lighter. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $0.84
- Price spread: −0.048% → −0.097%
- $4.95
- Slippage, 4 orders
- −$71.02
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$76.24
- Costs to cover
- 0.820%
- Break-even
- 642.3 days
Slippage from Lighter: live order book, 55 min ago; Bybit: live order book, 3 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 Lighter live order book, 55 min ago | 0.80 bp | 6.5 bp −$7 | 86.9 bp −$869 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 3 min ago | 2.38 bp | 31.1 bp −$31 | 92.4 bp −$924 | doesn't fit | doesn't fit |
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 | −0.0122% | 1h | 0.06290 | +0.177% | $35K | $65K | 10x | as long as short |
| Deribit PYTH_USDC-PERPETUAL | 0.0000% | 1h | 0.06291 | +0.191% | $10K | $10K | 10x | as long as short |
| Gate PYTH_USDT | +0.0004% | 4h | 0.06267 | −0.191% | $1.0M | $535K | 75x | as long as short |
| MEXC PYTH_USDT | +0.0010% | 4h | 0.06273 | −0.096% | $10.4M | $2.7M | 125x | as long as short |
| Binance PYTHUSDT | +0.0013% | 4h | 0.06274 | −0.087% | $8.9M | $19.5M | 75x | as long as short |
| dYdX PYTH-USD | +0.0013% | 1h | 0.06274 | −0.081% | $186K | $19 | 5x | as long as short |
| Injective PYTH/USDC PERP | +0.0033% | 1h | 0.06260 | −0.303% | $553 | $220K | 5.5x | as long as short |
| BloFin PYTH-USDT | +0.0049% | 4h | 0.06284 | +0.080% | $424K | $76K | 75x | as long as short |
| Aevo PYTH-PERP | +0.0080% | 1h | 0.06287 | +0.127% | $22K | — | 3x | as long as short |
| Lighter PYTHlong | +0.0096% | 1h | 0.06279 | long leg | $192K | $218K | 5x |
Backpack PYTH_USDC_PERP
Deribit PYTH_USDC-PERPETUAL
Gate PYTH_USDT
MEXC PYTH_USDT
Binance PYTHUSDT
dYdX PYTH-USD
Injective PYTH/USDC PERP
BloFin PYTH-USDT
Aevo PYTH-PERPShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Paradex PYTH-USD-PERP | +0.0100% | 8h | 0.06269 | −0.158% | $3K | — | 10x | as long as short |
| Hyperliquid PYTH | +0.0100% | 1h | 0.06279 | −0.003% | $2.2M | $2.0M | 5x | as long as short |
| Aster PYTHUSDT | +0.0100% | 4h | 0.06270 | −0.138% | $19K | $46K | 10x | as long as short |
| Bybit PYTHUSDTshort | +0.0100% | 4h | 0.06276 | −0.048% | $7.4M | $4.9M | 50x | |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06276 | −0.048% | $2.1M | $3.6M | 50x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06275 | −0.064% | $1.5M | $353K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06276 | −0.048% | $2.6M | $2.2M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06273 | −0.096% | — | $2.8M | — | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06303 | +0.381% | $39K | $27K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06284 | +0.073% | $2K | $2K | 10x | as long as short |
| Kraken Futures PF_PYTHUSD | +0.0132% | 1h | 0.06292 | +0.204% | $382K | $292K | 25x | as long as short |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06286 | +0.112% | — | — | 20x | as long as short |
| Coinbase International PYTH-PERP-INTX | +0.0368% | 1h | 0.06427 | +2.357% | $40K | $19K | 25x | as long as short |
Paradex PYTH-USD-PERP
Hyperliquid PYTH
Aster PYTHUSDT
OKX PYTH-USDT-SWAP
KuCoin PYTHUSDTM
Bitget PYTHUSDT
BingX PYTH-USDT
Variational Omni PYTH
Orderly PERP_PYTH_USDC_mythos
Kraken Futures PF_PYTHUSD
Reya PYTHRUSDPERP
Coinbase International PYTH-PERP-INTX