Funding you earn now, next payment 04:00 UTC−0.0051%/8h= −5.6% APRnext payment −$0.26 per $10,000 · paid last 24h +0.005%
Price spread now: BloFin against Bybit−0.222%72s7-day average −0.069% · you buy dearer than you sell
Net, funding: paid 7d − costs−$85as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$810.813% of the position
Funding, last 7 days−0.034%−$3 on $10k
+Price spread, last 4 days (all we have)−0.226%−$23 · spread now −0.222%, 7d avg −0.069%
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and BloFin is 0.153% cheaper against Bybit than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.069%). Swap the legs. The two prices were read 72 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit PYTHUSDT | 0.06317 | 0.0100 | pay 0.0050% / 4h | 44m 02s | $7.5M | $4.7M | 50x |
| Short | BloFin PYTH-USDT | 0.06303 | 0.0049 | get 0.0024% / 4h | 44m 02s | $351K | $81K | 75x |
Bybit PYTHUSDT
BloFin PYTH-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against Bybit. 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
- −$10.76
- Price spread: −0.222% → −0.069%
- −$15.31
- Slippage, 4 orders
- −$58.25
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$107.33
- Costs to cover
- 0.813%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 4 min ago; BloFin: live order book, 57 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 Bybit live order book, 4 min ago | 4.76 bp | 27.3 bp −$27 | 88.9 bp −$889 | doesn't fit | doesn't fit |
| Sell BloFin live order book, 57 min ago | 5.54 bp | 14.3 bp −$14 | 24.2 bp −$242 | 106.6 bp −$10.7K | 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 | −0.0409% | 1h | 0.06328 | +0.171% | $38K | $57K | 10x | as long as short |
| Gate PYTH_USDT | −0.0196% | 4h | 0.06314 | −0.047% | $1.0M | $506K | 75x | as long as short |
| Deribit PYTH_USDC-PERPETUAL | −0.0066% | 1h | 0.06319 | +0.032% | $10K | $10K | 10x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06310 | −0.114% | $187K | $19 | 5x | as long as short |
| Aster PYTHUSDT | +0.0028% | 4h | 0.06315 | −0.030% | $20K | $44K | 10x | as long as short |
| MEXC PYTH_USDT | +0.0032% | 4h | 0.06318 | +0.016% | $10.0M | $2.5M | 125x | as long as short |
| Binance PYTHUSDT | +0.0033% | 4h | 0.06319 | +0.039% | $9.0M | $17.9M | 75x | as long as short |
| Injective PYTH/USDC PERP | +0.0033% | 1h | 0.06260 | −0.902% | $553 | $220K | 5.5x | as long as short |
| BloFin PYTH-USDTshort | +0.0049% | 4h | 0.06303 | −0.222% | $351K | $81K | 75x | |
| Aevo PYTH-PERP | +0.0088% | 1h | 0.06325 | +0.123% | $23K | — | 3x | as long as short |
Backpack PYTH_USDC_PERP
Gate PYTH_USDT
Deribit PYTH_USDC-PERPETUAL
dYdX PYTH-USD
Aster PYTHUSDT
MEXC PYTH_USDT
Binance PYTHUSDT
Injective PYTH/USDC PERP
Aevo PYTH-PERPShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter PYTH | +0.0096% | 1h | 0.06327 | +0.158% | $191K | $207K | 5x | as long as short |
| Paradex PYTH-USD-PERP | +0.0100% | 8h | 0.06304 | −0.203% | $3K | — | 10x | as long as short |
| Hyperliquid PYTH | +0.0100% | 1h | 0.06325 | +0.125% | $2.0M | $1.6M | 5x | as long as short |
| Bybit PYTHUSDTlong | +0.0100% | 4h | 0.06317 | long leg | $7.5M | $4.7M | 50x | |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06317 | 0.000% | $2.1M | $3.4M | 50x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06320 | +0.047% | $1.5M | $345K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06320 | +0.047% | $2.7M | $2.2M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06319 | +0.032% | — | $2.7M | — | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06314 | −0.050% | $38K | $25K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06319 | +0.035% | $3K | $2K | 10x | as long as short |
| Coinbase International PYTH-PERP-INTX | +0.0104% | 1h | 0.06324 | +0.111% | $39K | $18K | 25x | as long as short |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06320 | +0.045% | — | — | 20x | as long as short |
| Kraken Futures PF_PYTHUSD | +0.0414% | 1h | 0.06323 | +0.097% | $385K | $293K | 25x | as long as short |
Lighter PYTH
Paradex PYTH-USD-PERP
Hyperliquid PYTH
OKX PYTH-USDT-SWAP
KuCoin PYTHUSDTM
Bitget PYTHUSDT
BingX PYTH-USDT
Variational Omni PYTH
Orderly PERP_PYTH_USDC_mythos
Coinbase International PYTH-PERP-INTX
Reya PYTHRUSDPERP
Kraken Futures PF_PYTHUSD