Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.002%
Price spread now: Backpack against Hyperliquid+0.174%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.162%+$16 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.174% dearer against Hyperliquid than usual: you sell high and buy low, +$17 on $10k if it goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid PYTH | 0.06317 | 0.0100 | pay 0.0013% / 1h | 1m 13s | $1.7M | $1.5M | 5x |
| Short | Backpack PYTH_USDC_PERP | 0.06328 | 0.0100 | get 0.0013% / 1h | 1m 13s | $36K | $89K | 10x |
Hyperliquid PYTH
Backpack PYTH_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Hyperliquid. 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
- $0
- Price spread: +0.174% → 0.000%
- $17.41
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$1.59
- Costs to cover
- 0.190%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 9 min ago; Backpack: no order-book sample. Net counts fees only.
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 Hyperliquid live order book, 9 min ago | 2.15 bp | 15.3 bp −$15 | doesn't fit | doesn't fit | doesn't fit |
| Sell Backpack no order-book sample | — | — | — | — | — |
Backpack: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.0428% | 1h | 0.06260 | −0.902% | $553 | $220K | 5.5x | as long as short |
| Kraken Futures PF_PYTHUSD | −0.0207% | 1h | 0.06316 | −0.009% | $379K | $261K | 25x | as long as short |
| Binance PYTHUSDT | −0.0101% | 4h | 0.06312 | −0.079% | $9.1M | $17.1M | 75x | as long as short |
| MEXC PYTH_USDT | −0.0100% | 4h | 0.06316 | −0.016% | $9.5M | $2.4M | 125x | as long as short |
| BloFin PYTH-USDT | −0.0044% | 4h | 0.06313 | −0.063% | $421K | $115K | 75x | as long as short |
| Gate PYTH_USDT | −0.0022% | 4h | 0.06311 | −0.095% | $1.1M | $483K | 75x | as long as short |
| Bybit PYTHUSDT | −0.0012% | 4h | 0.06321 | +0.063% | $7.5M | $4.7M | 50x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06326 | +0.144% | $188K | $19 | 5x | as long as short |
| Deribit PYTH_USDC-PERPETUAL | 0.0000% | 1h | 0.06320 | +0.047% | $10K | $10K | 10x | as long as short |
| Aevo PYTH-PERP | +0.0056% | 1h | 0.06315 | −0.032% | $23K | — | 3x | as long as short |
Injective PYTH/USDC PERP
Kraken Futures PF_PYTHUSD
Binance PYTHUSDT
MEXC PYTH_USDT
BloFin PYTH-USDT
Gate PYTH_USDT
Bybit PYTHUSDT
dYdX PYTH-USD
Deribit PYTH_USDC-PERPETUAL
Aevo PYTH-PERPShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster PYTHUSDT | +0.0059% | 4h | 0.06312 | −0.072% | $25K | $40K | 10x | as long as short |
| Coinbase International PYTH-PERP-INTX | +0.0080% | 1h | 0.06327 | +0.158% | $39K | $6K | 25x | as long as short |
| Lighter PYTH | +0.0096% | 1h | 0.06322 | +0.079% | $201K | $216K | 5x | as long as short |
| Paradex PYTH-USD-PERP | +0.0100% | 8h | 0.06313 | −0.060% | $3K | $56 | 10x | as long as short |
| Hyperliquid PYTHlong | +0.0100% | 1h | 0.06317 | long leg | $1.7M | $1.5M | 5x | |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06321 | +0.063% | $2.1M | $3.3M | 50x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06318 | +0.016% | $1.5M | $313K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06317 | 0.000% | $2.6M | $2.0M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06320 | +0.047% | — | $2.8M | — | as long as short |
| Backpack PYTH_USDC_PERPshort | +0.0100% | 1h | 0.06328 | +0.174% | $36K | $89K | 10x | |
| Variational Omni PYTH | +0.0100% | 4h | 0.06290 | −0.433% | $44K | $22K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06314 | −0.051% | $3K | $1K | 10x | as long as short |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06311 | −0.101% | — | — | 20x | as long as short |
Aster PYTHUSDT
Coinbase International PYTH-PERP-INTX
Lighter PYTH
Paradex PYTH-USD-PERP
OKX PYTH-USDT-SWAP
KuCoin PYTHUSDTM
Bitget PYTHUSDT
BingX PYTH-USDT
Variational Omni PYTH
Orderly PERP_PYTH_USDC_mythos
Reya PYTHRUSDPERP