Funding you earn now, next payment 02:00 UTC−0.0442%/8h= −48.4% APRpaid last 24h −0.011%
Price spread now: Gate against Backpack−0.161%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−0.205%−$21 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 −$13 a day on $10k at the current rate, and Gate is 0.161% cheaper against Backpack than usual: you would sell low and buy high (−$16 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 -0.205% in total (about -10.7% 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 | 0.06344 | 0.0542 | pay 0.0068% / 1h | 55m 38s | $38K | $93K | 10x |
| Short | Gate PYTH_USDT | 0.06334 | 0.0100 | get 0.0050% / 4h | 2h 55m | $1.0M | $488K | 75x |
Backpack PYTH_USDC_PERP
Gate PYTH_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate 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
- −$92.73
- Price spread: −0.161% → 0.000%
- −$16.08
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$133.81
- Costs to cover
- 0.250%
- Break-even
- never at this rate
Slippage unknown: Backpack: no order-book sample; Gate: live order book, 1 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 Gate live order book, 1 min ago | 3.95 bp | 44.6 bp −$45 | doesn't fit | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin PYTH-USDT | −0.0153% | 4h | 0.06382 | +0.596% | $431K | $112K | 75x | as long as short |
| Binance PYTHUSDT | −0.0121% | 4h | 0.06345 | +0.020% | $9.1M | $17.8M | 75x | as long as short |
| MEXC PYTH_USDT | −0.0120% | 4h | 0.06348 | +0.060% | $9.6M | $2.4M | 125x | as long as short |
| Coinbase International PYTH-PERP-INTX | −0.0064% | 1h | 0.06505 | +2.535% | $40K | $18K | 25x | as long as short |
| Aster PYTHUSDT | −0.0019% | 4h | 0.06348 | +0.056% | $20K | $46K | 10x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06345 | +0.011% | $188K | $19 | 5x | as long as short |
| Injective PYTH/USDC PERP | +0.0033% | 1h | 0.06260 | −1.327% | $553 | $220K | 5.5x | as long as short |
| Aevo PYTH-PERP | +0.0048% | 1h | 0.06345 | +0.013% | $23K | — | 3x | as long as short |
| Lighter PYTH | +0.0096% | 1h | 0.06351 | +0.107% | $190K | $204K | 5x | as long as short |
| Paradex PYTH-USD-PERP | +0.0100% | 8h | 0.06347 | +0.037% | $3K | — | 10x | as long as short |
BloFin PYTH-USDT
Binance PYTHUSDT
MEXC PYTH_USDT
Coinbase International PYTH-PERP-INTX
Aster PYTHUSDT
dYdX PYTH-USD
Injective PYTH/USDC PERP
Aevo PYTH-PERP
Lighter PYTH
Paradex PYTH-USD-PERPShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid PYTH | +0.0100% | 1h | 0.06348 | +0.055% | $2.0M | $1.7M | 5x | as long as short |
| Bybit PYTHUSDT | +0.0100% | 4h | 0.06344 | −0.003% | $7.6M | $4.9M | 50x | as long as short |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06343 | −0.019% | $2.1M | $3.4M | 50x | as long as short |
| Gate PYTH_USDTshort | +0.0100% | 4h | 0.06334 | −0.161% | $1.0M | $488K | 75x | |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06341 | −0.050% | $1.5M | $331K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06348 | +0.060% | $2.7M | $2.2M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06345 | +0.013% | — | $2.8M | — | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06342 | −0.042% | $38K | $27K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06341 | −0.054% | $3K | $2K | 10x | as long as short |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06343 | −0.027% | — | — | 20x | as long as short |
| Kraken Futures PF_PYTHUSD | +0.0378% | 1h | 0.06342 | −0.040% | $389K | $291K | 25x | as long as short |
| Backpack PYTH_USDC_PERPlong | +0.0542% | 1h | 0.06344 | long leg | $38K | $93K | 10x | |
| Deribit PYTH_USDC-PERPETUAL | +0.1169% | 1h | 0.06350 | +0.091% | $10K | $10K | 10x | as long as short |
Hyperliquid PYTH
Bybit PYTHUSDT
OKX PYTH-USDT-SWAP
KuCoin PYTHUSDTM
Bitget PYTHUSDT
BingX PYTH-USDT
Variational Omni PYTH
Orderly PERP_PYTH_USDC_mythos
Reya PYTHRUSDPERP
Kraken Futures PF_PYTHUSD
Deribit PYTH_USDC-PERPETUAL