PYTH

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0065%/8h= +7.1% APRnext payment +$0.33 per $10,000 · paid last 24h +0.007%

Price spread now: Bybit against Binance+0.095%7-day average +0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$100as in the Funding arb table

Net, price: spread back to 7d avg − costs−$100as in the Price arb table

costs, in and out, $10k−$1051.046% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.042%+$4 on $10k

Price spread, last 7 days−0.086%−$9 · spread now +0.095%, 7d avg +0.045%

Together, before fees−0.044%−$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Bybit is 0.050% dearer against Binance than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PYTHUSDT	0.06325	0.0035	pay 0.0017% / 4h	51m 35s	$9.0M	$17.9M	75x
Short	Bybit PYTHUSDT	0.06331	0.0100	get 0.0050% / 4h	51m 35s	$7.5M	$4.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Binance. 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 BinancebpFee BybitbpOrdersPrice spread, now +0.095%Rate

Funding earned: $13.68
Price spread: +0.095% → +0.045%: $5.02
Slippage, 4 orders: −$83.63
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$85.93
Costs to cover: 1.046%
Break-even: 51.0 days

Slippage from Binance: live order book, 4 min ago; Bybit: live order book, 1 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 Binance live order book, 4 min ago	0.79 bp	15.4 bp −$15	32.1 bp −$321	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	2.37 bp	38.1 bp −$38	93.7 bp −$937	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	−0.0318%	1h	0.06335	+0.157%	$38K	$50K	10x	as long as short
Gate PYTH_USDT	−0.0186%	4h	0.06324	−0.016%	$1.0M	$503K	75x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06332	+0.109%	$188K	$19	5x	as long as short
Deribit PYTH_USDC-PERPETUAL	0.0000%	1h	0.06332	+0.111%	$10K	$10K	10x	as long as short
BloFin PYTH-USDT	+0.0017%	4h	0.06339	+0.221%	$427K	$84K	75x	as long as short
MEXC PYTH_USDT	+0.0030%	4h	0.06324	−0.016%	$10.0M	$2.5M	125x	as long as short
Aster PYTHUSDT	+0.0030%	4h	0.06328	+0.047%	$20K	$43K	10x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−1.028%	$553	$220K	5.5x	as long as short
Binance PYTHUSDTlong	+0.0035%	4h	0.06325	long leg	$9.0M	$17.9M	75x
Aevo PYTH-PERP	+0.0088%	1h	0.06325	0.000%	$23K	—	3x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter PYTH	+0.0096%	1h	0.06334	+0.142%	$191K	$206K	5x	as long as short
Paradex PYTH-USD-PERP	+0.0100%	8h	0.06323	−0.032%	$3K	—	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06334	+0.141%	$2.0M	$1.6M	5x	as long as short
Bybit PYTHUSDTshort	+0.0100%	4h	0.06331	+0.095%	$7.5M	$4.7M	50x
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06327	+0.032%	$2.1M	$3.4M	50x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06335	+0.158%	$1.5M	$343K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06330	+0.079%	$2.7M	$2.2M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06330	+0.079%	—	$2.7M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06349	+0.379%	$38K	$25K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06329	+0.060%	$3K	$2K	10x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0104%	1h	0.06385	+0.949%	$40K	$18K	25x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06328	+0.051%	—	—	20x	as long as short
Kraken Futures PF_PYTHUSD	+0.0413%	1h	0.06332	+0.115%	$386K	$294K	25x	as long as short