Funding you earn now, next payment 04:00 UTC−0.0190%/8h= −20.8% APRnext payment −$0.95 per $10,000 · paid last 24h +0.002%
Price spread now: Gate against Bybit−0.124%7-day average −0.041% · you buy dearer than you sell
Net, funding: paid 7d − costs−$135as in the Funding arb table
Net, price: spread back to 7d avg − costs−$145as in the Price arb table
costs, in and out, $10k−$1371.370% of the position
Funding, last 7 days+0.021%+$2 on $10k
+Price spread, last 7 days+0.054%+$5 · spread now −0.124%, 7d avg −0.041%
=Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Gate is 0.083% cheaper against Bybit than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.041%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.021% in total (about 1.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.95 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 | Bybit PYTHUSDT | 0.06458 | 0.0100 | pay 0.0050% / 4h | 2m 04s | $7.6M | $4.8M | 50x |
| Short | Gate PYTH_USDT | 0.06450 | −0.0090 | pay 0.0045% / 4h | 2m 04s | $1.1M | $519K | 75x |
Bybit PYTHUSDT
Gate PYTH_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate 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
- −$39.9
- Price spread: −0.124% → −0.041%
- −$8.26
- Slippage, 4 orders
- −$111.04
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$185.2
- Costs to cover
- 1.370%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 1 min ago; Gate: 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 Bybit live order book, 1 min ago | 3.10 bp | 36.3 bp −$36 | 95.9 bp −$959 | doesn't fit | doesn't fit |
| Sell Gate live order book, 5 min ago | 3.89 bp | 34.8 bp −$35 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Gate PYTH_USDTshort | −0.0090% | 4h | 0.06450 | −0.124% | $1.1M | $519K | 75x | |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06462 | +0.058% | $192K | $19 | 5x | as long as short |
| Deribit PYTH_USDC-PERPETUAL | 0.0000% | 1h | 0.06460 | +0.031% | $10K | $10K | 10x | as long as short |
| BloFin PYTH-USDT | +0.0027% | 4h | 0.06435 | −0.356% | $433K | $81K | 75x | as long as short |
| Injective PYTH/USDC PERP | +0.0033% | 1h | 0.06260 | −3.066% | $553 | $220K | 5.5x | as long as short |
| MEXC PYTH_USDT | +0.0054% | 4h | 0.06458 | 0.000% | $10.5M | $2.7M | 125x | as long as short |
| Binance PYTHUSDT | +0.0056% | 4h | 0.06457 | −0.015% | $9.3M | $18.3M | 75x | as long as short |
| Aster PYTHUSDT | +0.0072% | 4h | 0.06465 | +0.115% | $20K | $45K | 10x | as long as short |
| Lighter PYTH | +0.0096% | 1h | 0.06468 | +0.155% | $193K | $210K | 5x | as long as short |
| Aevo PYTH-PERP | +0.0096% | 1h | 0.06460 | +0.031% | $23K | — | 3x | as long as short |
dYdX PYTH-USD
Deribit PYTH_USDC-PERPETUAL
BloFin PYTH-USDT
Injective PYTH/USDC PERP
MEXC PYTH_USDT
Binance PYTHUSDT
Aster PYTHUSDT
Lighter PYTH
Aevo PYTH-PERPShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Paradex PYTH-USD-PERP | +0.0100% | 8h | 0.06448 | −0.161% | $3K | — | 10x | as long as short |
| Hyperliquid PYTH | +0.0100% | 1h | 0.06465 | +0.113% | $2.3M | $1.8M | 5x | as long as short |
| Bybit PYTHUSDTlong | +0.0100% | 4h | 0.06458 | long leg | $7.6M | $4.8M | 50x | |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06461 | +0.046% | $2.1M | $3.6M | 50x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06460 | +0.031% | $1.5M | $351K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06456 | −0.031% | $2.8M | $2.2M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06456 | −0.031% | — | $2.7M | — | as long as short |
| Backpack PYTH_USDC_PERP | +0.0100% | 1h | 0.06466 | +0.119% | $37K | $60K | 10x | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06443 | −0.227% | $39K | $25K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06455 | −0.045% | $2K | $2K | 10x | as long as short |
| Coinbase International PYTH-PERP-INTX | +0.0104% | 1h | 0.06493 | +0.542% | $40K | $19K | 25x | as long as short |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06452 | −0.086% | — | — | 20x | as long as short |
| Kraken Futures PF_PYTHUSD | +0.0405% | 1h | 0.06467 | +0.134% | $399K | $294K | 25x | as long as short |
Paradex PYTH-USD-PERP
Hyperliquid PYTH
OKX PYTH-USDT-SWAP
KuCoin PYTHUSDTM
Bitget PYTHUSDT
BingX PYTH-USDT
Backpack PYTH_USDC_PERP
Variational Omni PYTH
Orderly PERP_PYTH_USDC_mythos
Coinbase International PYTH-PERP-INTX
Reya PYTHRUSDPERP
Kraken Futures PF_PYTHUSD