PYTH

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0220%/8h= −24.1% APRnext payment −$1.10 per $10,000 · paid last 24h −0.025%

Price spread now: MEXC against Bitget0.000%7-day average −0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$470.474% of the position

Long on Bitget Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.095%−$9 on $10k

Price spread, last 7 days+0.035%+$4 · spread now 0.000%, 7d avg −0.013%

Together, before fees−0.060%−$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.013%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.095% in total (about -4.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.10 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	0.06470	0.0100	pay 0.0050% / 4h	3h 11m	$2.7M	$2.1M	75x
Short	MEXC PYTH_USDT	0.06470	−0.0120	pay 0.0060% / 4h	3h 11m	$9.8M	$2.4M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$46.2
Price spread: 0.000% → −0.013%: $1.31
Slippage, 4 orders: −$35.38
Fee Bitget: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$92.27
Costs to cover: 0.474%
Break-even: never at this rate

Slippage from Bitget: live order book, 1 min ago; MEXC: 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 Bitget live order book, 1 min ago	4.62 bp	17.1 bp −$17	59.1 bp −$591	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	0.77 bp	4.0 bp −$4	20.0 bp −$200	95.9 bp −$9,588	209.9 bp −$105.0K

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	−0.0134%	4h	0.06483	+0.201%	$433K	$112K	75x	as long as short
Kraken Futures PF_PYTHUSD	−0.0133%	1h	0.06499	+0.452%	$399K	$291K	25x	as long as short
MEXC PYTH_USDTshort	−0.0120%	4h	0.06470	0.000%	$9.8M	$2.4M	125x
Binance PYTHUSDT	−0.0116%	4h	0.06467	−0.046%	$9.3M	$17.6M	75x	as long as short
Coinbase International PYTH-PERP-INTX	−0.0064%	1h	0.06495	+0.386%	$40K	$18K	25x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06487	+0.261%	$193K	$19	5x	as long as short
Aster PYTHUSDT	+0.0026%	4h	0.06488	+0.285%	$22K	$45K	10x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−3.246%	$553	$220K	5.5x	as long as short
Aevo PYTH-PERP	+0.0048%	1h	0.06491	+0.326%	$23K	—	3x	as long as short
Lighter PYTH	+0.0096%	1h	0.06491	+0.325%	$204K	$199K	5x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex PYTH-USD-PERP	+0.0100%	8h	0.06483	+0.205%	$3K	—	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06496	+0.406%	$2.1M	$1.6M	5x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	0.06474	+0.062%	$7.7M	$4.8M	50x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06464	−0.093%	$2.1M	$3.5M	50x	as long as short
Gate PYTH_USDT	+0.0100%	4h	0.06476	+0.093%	$1.1M	$480K	75x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06486	+0.247%	$1.6M	$326K	50x	as long as short
Bitget PYTHUSDTlong	+0.0100%	4h	0.06470	long leg	$2.7M	$2.1M	75x
BingX PYTH-USDT	+0.0100%	4h	0.06472	+0.031%	—	$2.7M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06426	−0.680%	$39K	$27K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06491	+0.320%	$3K	$2K	10x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06483	+0.201%	—	—	20x	as long as short
Deribit PYTH_USDC-PERPETUAL	+0.0519%	1h	0.06506	+0.556%	$10K	$10K	10x	as long as short
Backpack PYTH_USDC_PERP	+0.0952%	1h	0.06497	+0.416%	$36K	$91K	10x	as long as short