Funding arb · Price arb /

PYTH

all PYTH markets

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: dYdX against Paradex+0.167%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on dYdX

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

The price spread pays, funding is against you. dYdX is 0.167% dearer against Paradex than usual: you sell high and buy low (spread +0.167% now, against zero (this spread has no 7-day history yet)): +$17 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 6.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex PYTH-USD-PERP	0.06251	0.0100	pay 0.0100% / 8h	7h 26m	$3K	—	10x
Short	dYdX PYTH-USD	0.06262	0.0011	get 0.0001% / 1h	26m 16s	$186K	$13	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Paradex. 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 ParadexbpFee dYdXbpOrdersPrice spread, now +0.167%Rate

Funding earned: −$18.72
Price spread: +0.167% → 0.000%: $16.69
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$16.03
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; dYdX: live order book, 8 min ago. 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 Paradex no order-book sample	—	—	—	—	—
Sell dYdX live order book, 8 min ago	30.91 bp	56.5 bp −$57	146.1 bp −$1,461	173.1 bp −$17.3K	450.8 bp −$225.4K

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	−0.0006%	1h	0.06264	+0.206%	$35K	$60K	10x	as long as short
Deribit PYTH_USDC-PERPETUAL	0.0000%	1h	0.06262	+0.171%	$10K	$10K	10x	as long as short
dYdX PYTH-USDshort	+0.0011%	1h	0.06262	+0.167%	$186K	$13	5x
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	+0.139%	$553	$220K	5.5x	as long as short
BloFin PYTH-USDT	+0.0072%	4h	0.06249	−0.037%	$429K	$71K	75x	as long as short
MEXC PYTH_USDT	+0.0072%	4h	0.06256	+0.075%	$10.8M	$2.8M	125x	as long as short
Binance PYTHUSDT	+0.0073%	4h	0.06257	+0.091%	$9.0M	$19.7M	75x	as long as short
Lighter PYTH	+0.0096%	1h	0.06267	+0.251%	$194K	$215K	5x	as long as short
Aevo PYTH-PERP	+0.0096%	1h	0.06260	+0.136%	$22K	—	3x	as long as short
Paradex PYTH-USD-PERPlong	+0.0100%	8h	0.06251	long leg	$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	0.06260	+0.137%	$2.1M	$2.0M	5x	as long as short
Aster PYTHUSDT	+0.0100%	4h	0.06263	+0.180%	$21K	$47K	10x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	0.06262	+0.171%	$7.5M	$4.9M	50x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06257	+0.091%	$2.1M	$3.5M	50x	as long as short
Gate PYTH_USDT	+0.0100%	4h	0.06253	+0.027%	$1.0M	$510K	75x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06263	+0.187%	$1.5M	$370K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06252	+0.011%	$2.6M	$2.3M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06252	+0.011%	—	$2.8M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06280	+0.466%	$40K	$26K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06255	+0.065%	$2K	$2K	10x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06253	+0.023%	—	—	20x	as long as short
Kraken Futures PF_PYTHUSD	+0.0471%	1h	0.06263	+0.190%	$380K	$295K	25x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0536%	1h	0.06427	+2.810%	$40K	$19K	25x	as long as short