PYTH

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0249%/8h= −27.2% APRnext payment −$1.24 per $10,000 · paid last 24h −0.016%

Price spread now: Bybit against Bitget−0.047%7-day average +0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$101as in the Funding arb table

Net, price: spread back to 7d avg − costs−$104as in the Price arb table

costs, in and out, $10k−$960.960% of the position

Long on Bitget Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.053%−$5 on $10k

Price spread, last 7 days+0.118%+$12 · spread now −0.047%, 7d avg +0.031%

Together, before fees+0.065%+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Bybit is 0.079% cheaper against Bitget than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.031%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.053% in total (about -2.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.24 per $10,000. 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	Bitget PYTHUSDT	0.06346	0.0100	pay 0.0050% / 4h	2h 38m	$2.6M	$1.9M	75x
Short	Bybit PYTHUSDT	0.06343	−0.0149	pay 0.0074% / 4h	2h 38m	$7.4M	$5.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Bitget. 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 BitgetbpFee BybitbpOrdersPrice spread, now −0.047%Rate

Funding earned: −$52.2
Price spread: −0.047% → +0.031%: −$7.86
Slippage, 4 orders: −$73.02
Fee Bitget: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$156.08
Costs to cover: 0.960%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; Bybit: live order book, 5 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 Bitget live order book, 4 min ago	3.94 bp	12.3 bp −$12	32.4 bp −$324	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	2.37 bp	32.2 bp −$32	83.9 bp −$839	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
Injective PYTH/USDC PERP	−0.0586%	1h	0.06350	+0.063%	$561	$180K	5.5x	as long as short
Deribit PYTH_USDC-PERPETUAL	−0.0222%	1h	0.06349	+0.047%	$10K	$10K	10x	as long as short
Kraken Futures PF_PYTHUSD	−0.0216%	1h	0.06343	−0.041%	$384K	$240K	25x	as long as short
Bybit PYTHUSDTshort	−0.0149%	4h	0.06343	−0.047%	$7.4M	$5.0M	50x
Gate PYTH_USDT	−0.0130%	4h	0.06331	−0.236%	$1.1M	$464K	75x	as long as short
Binance PYTHUSDT	−0.0018%	4h	0.06339	−0.114%	$9.1M	$15.9M	75x	as long as short
MEXC PYTH_USDT	−0.0018%	4h	0.06338	−0.126%	$9.4M	$2.4M	125x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06342	−0.065%	$188K	$19	5x	as long as short
BloFin PYTH-USDT	+0.0023%	4h	0.06338	−0.126%	$425K	$121K	75x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0048%	1h	0.06431	+1.339%	$40K	$6K	25x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PYTH-PERP	+0.0080%	1h	0.06343	−0.054%	$23K	—	3x	as long as short
Lighter PYTH	+0.0096%	1h	0.06350	+0.063%	$196K	$206K	5x	as long as short
Paradex PYTH-USD-PERP	+0.0099%	8h	0.06340	−0.097%	$3K	$56	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06348	+0.033%	$1.7M	$1.5M	5x	as long as short
Aster PYTHUSDT	+0.0100%	4h	0.06339	−0.109%	$20K	$24K	10x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06347	+0.016%	$2.1M	$3.3M	50x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06346	0.000%	$1.5M	$308K	50x	as long as short
Bitget PYTHUSDTlong	+0.0100%	4h	0.06346	long leg	$2.6M	$1.9M	75x
BingX PYTH-USDT	+0.0100%	4h	0.06339	−0.110%	—	$2.8M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06334	−0.196%	$44K	$23K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06343	−0.049%	$3K	$1K	10x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06341	−0.073%	—	—	20x	as long as short
Backpack PYTH_USDC_PERP	+0.0309%	1h	0.06342	−0.065%	$38K	$88K	10x	as long as short