Funding you earn now, next payment 22:00 UTC−0.0365%/8h= −40.0% APRpaid last 24h −0.022%
Price spread now: Binance against Backpack−0.118%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.249%−$25 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Binance is 0.118% cheaper against Backpack than usual: you would sell low and buy high (−$12 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.249% in total (about -13.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack PYTH_USDC_PERP | 0.06379 | 0.0343 | pay 0.0043% / 1h | 55m 12s | $39K | $88K | 10x |
| Short | Binance PYTHUSDT | 0.06372 | −0.0023 | pay 0.0011% / 4h | 2h 55m | $9.0M | $15.8M | 75x |
Backpack PYTH_USDC_PERP
Binance PYTHUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Backpack. 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
- −$76.73
- Price spread: −0.118% → 0.000%
- −$11.75
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$108.49
- Costs to cover
- 0.200%
- Break-even
- never at this rate
Slippage unknown: Backpack: no order-book sample; Binance: live order book, 16 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 Backpack no order-book sample | — | — | — | — | — |
| Sell Binance live order book, 16 min ago | 0.79 bp | 15.2 bp −$15 | 41.4 bp −$414 | 198.5 bp −$19.9K | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| Injective PYTH/USDC PERP | −0.0586% | 1h | 0.06350 | −0.455% | $561 | $180K | 5.5x | as long as short |
| Kraken Futures PF_PYTHUSD | −0.0215% | 1h | 0.06382 | +0.045% | $386K | $229K | 25x | as long as short |
| Gate PYTH_USDT | −0.0112% | 4h | 0.06357 | −0.345% | $1.1M | $462K | 75x | as long as short |
| BloFin PYTH-USDT | −0.0051% | 4h | 0.06363 | −0.251% | $421K | $123K | 75x | as long as short |
| Binance PYTHUSDTshort | −0.0023% | 4h | 0.06372 | −0.118% | $9.0M | $15.8M | 75x | |
| MEXC PYTH_USDT | −0.0020% | 4h | 0.06374 | −0.078% | $9.4M | $2.4M | 125x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06362 | −0.267% | $189K | $19 | 5x | as long as short |
| Deribit PYTH_USDC-PERPETUAL | 0.0000% | 1h | 0.06382 | +0.047% | $10K | $10K | 10x | as long as short |
| Coinbase International PYTH-PERP-INTX | +0.0048% | 1h | 0.06431 | +0.815% | $40K | $9K | 25x | as long as short |
| Aevo PYTH-PERP | +0.0072% | 1h | 0.06375 | −0.063% | $23K | — | 3x | as long as short |
Injective PYTH/USDC PERP
Kraken Futures PF_PYTHUSD
Gate PYTH_USDT
BloFin PYTH-USDT
MEXC PYTH_USDT
dYdX PYTH-USD
Deribit PYTH_USDC-PERPETUAL
Coinbase International PYTH-PERP-INTX
Aevo PYTH-PERPShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit PYTHUSDT | +0.0076% | 4h | 0.06370 | −0.141% | $7.4M | $4.9M | 50x | as long as short |
| Lighter PYTH | +0.0096% | 1h | 0.06383 | +0.063% | $198K | $203K | 5x | as long as short |
| Paradex PYTH-USD-PERP | +0.0098% | 8h | 0.06361 | −0.289% | $3K | $56 | 10x | as long as short |
| Hyperliquid PYTH | +0.0100% | 1h | 0.06377 | −0.031% | $1.7M | $1.4M | 5x | as long as short |
| Aster PYTHUSDT | +0.0100% | 4h | 0.06371 | −0.123% | $20K | $26K | 10x | as long as short |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06372 | −0.110% | $2.1M | $3.3M | 50x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06370 | −0.141% | $1.5M | $319K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06373 | −0.094% | $2.6M | $1.9M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06368 | −0.172% | — | $2.8M | — | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06358 | −0.330% | $44K | $23K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06372 | −0.113% | $3K | $1K | 10x | as long as short |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06370 | −0.143% | — | — | 20x | as long as short |
| Backpack PYTH_USDC_PERPlong | +0.0343% | 1h | 0.06379 | long leg | $39K | $88K | 10x |
Bybit PYTHUSDT
Lighter PYTH
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
Reya PYTHRUSDPERP