PYTH

Alert

Spread before costs (cost unknown: a leg has no order-book sample)+0.110%

7d average—if it closes, per $10,000$11funding while held, a day+$7.20

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack PYTH_USDC_PERP	0.06538	0.0121	pay 0.0015% / 1h	21m 34s	$29K	$79K	10x
Short	Deribit PYTH_USDC-PERPETUAL	0.06545	0.0361	get 0.0045% / 1h	21m 34s	$11K	$10K	10x

Price spread history

latest

Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Position, each leg$Hold forhoursFee BackpackbpFee DeribitbpOrdersClose when spread is

Spread captured: $11.01
Funding while held: $7.2
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $1.22
Spread needed to break even: 0.170%

Slippage unknown: Backpack: no order-book sample; Deribit: no order-book sample. Net counts fees only.

Cost of waiting

funding view

Funding /8h: +0.0240%
Per $10,000 a day: +$7.20
Average in range /8h: —

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 Deribit no order-book sample	—	—	—	—	—

Backpack and Deribit: 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 price on every exchange

against the cheapest. Click to use as the short leg.

PYTH on 23 venues

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Variational Omni PYTH	−0.449%	+0.0100%	4h	$47K	$16K	—	as long as short
Paradex PYTH-USD-PERP	−0.438%	+0.0095%	8h	$3K	$56	10x	as long as short
Gate PYTH_USDT	−0.349%	+0.0100%	4h	$1.2M	$452K	75x	as long as short
Hyperliquid PYTH	−0.317%	+0.0100%	1h	$1.8M	$1.3M	5x	as long as short
MEXC PYTH_USDT	−0.288%	+0.0088%	4h	$9.7M	$2.9M	125x	as long as short
Bitget PYTHUSDT	−0.272%	+0.0100%	4h	$2.7M	$1.8M	75x	as long as short
BingX PYTH-USDT	−0.272%	+0.0100%	4h	—	$2.8M	—	as long as short
BloFin PYTH-USDT	−0.272%	+0.0325%	4h	$447K	$125K	75x	as long as short
Binance PYTHUSDT	−0.242%	+0.0089%	4h	$9.4M	$14.9M	75x	as long as short
OKX PYTH-USDT-SWAP	−0.211%	+0.0100%	4h	$2.1M	$3.4M	50x	as long as short

Show all 23 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
KuCoin PYTHUSDTM	−0.196%	+0.0100%	4h	$1.5M	$388K	50x	as long as short
Injective PYTH/USDC PERP	−0.196%	−0.0184%	1h	$577	$80K	5.5x	as long as short
Lighter PYTH	−0.180%	+0.0096%	1h	$200K	$190K	5x	as long as short
Bybit PYTHUSDT	−0.180%	+0.0100%	4h	$8.0M	$4.4M	50x	as long as short
dYdX PYTH-USD	−0.174%	0.0000%	1h	$194K	$19	5x	as long as short
Aster PYTHUSDT	−0.073%	+0.0100%	4h	$24K	$31K	10x	as long as short
Backpack PYTH_USDC_PERPlong	0.000%	+0.0121%	1h	$29K	$79K	10x
Aevo PYTH-PERP	+0.037%	+0.0104%	1h	$23K	—	3x	as long as short
Reya PYTHRUSDPERP	+0.057%	+0.0302%	1h	—	—	20x	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.060%	+0.0100%	4h	$3K	$798	10x	as long as short
Kraken Futures PF_PYTHUSD	+0.103%	+0.0268%	1h	$402K	$219K	25x	as long as short
Deribit PYTH_USDC-PERPETUALshort	+0.110%	+0.0361%	1h	$11K	$10K	10x
Coinbase International PYTH-PERP-INTX	+0.248%	+0.0056%	1h	$41K	$11K	25x	as long as short