PYTH

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0052%/8h= −5.7% APRnext payment −$0.07 per $10,000 · paid last 24h −0.020%

Price spread now: Coinbase International against Hyperliquid+1.199%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Hyperliquid Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

The price spread pays, funding is against you. Coinbase International is 1.199% dearer against Hyperliquid than usual: you sell high and buy low (spread +1.199% now, against zero (this spread has no 7-day history yet)): +$120 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid PYTH	0.06355	0.0100	pay 0.0013% / 1h	51m 54s	$1.7M	$1.4M	5x
Short	Coinbase International PYTH-PERP-INTX	0.06431	0.0048	get 0.0006% / 1h	51m 54s	$40K	$9K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Hyperliquid. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 HyperliquidbpFee Coinbase InternationalbpOrdersPrice spread, now +1.199%Rate

Funding earned: −$10.92
Price spread: +1.199% → 0.000%: $119.91
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $89.99
Costs to cover: 0.190%
Break-even: from the start

Slippage unknown: Hyperliquid: live order book, 9 min ago; Coinbase International: 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	1.10 bp	17.4 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: 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	−0.0586%	1h	0.06350	−0.076%	$561	$180K	5.5x	as long as short
Kraken Futures PF_PYTHUSD	−0.0215%	1h	0.06355	+0.003%	$385K	$240K	25x	as long as short
Gate PYTH_USDT	−0.0118%	4h	0.06350	−0.076%	$1.1M	$463K	75x	as long as short
BloFin PYTH-USDT	−0.0046%	4h	0.06334	−0.327%	$419K	$122K	75x	as long as short
MEXC PYTH_USDT	−0.0018%	4h	0.06349	−0.091%	$9.4M	$2.4M	125x	as long as short
Binance PYTHUSDT	−0.0016%	4h	0.06348	−0.112%	$9.0M	$16.0M	75x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06354	−0.014%	$189K	$19	5x	as long as short
Deribit PYTH_USDC-PERPETUAL	0.0000%	1h	0.06362	+0.113%	$10K	$10K	10x	as long as short
Coinbase International PYTH-PERP-INTXshort	+0.0048%	1h	0.06431	+1.199%	$40K	$9K	25x
Bybit PYTHUSDT	+0.0076%	4h	0.06350	−0.076%	$7.5M	$5.0M	50x	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	0.06400	+0.713%	$23K	—	3x	as long as short
Lighter PYTH	+0.0096%	1h	0.06359	+0.066%	$197K	$203K	5x	as long as short
Paradex PYTH-USD-PERP	+0.0098%	8h	0.06352	−0.042%	$3K	$56	10x	as long as short
Hyperliquid PYTHlong	+0.0100%	1h	0.06355	long leg	$1.7M	$1.4M	5x
Aster PYTHUSDT	+0.0100%	4h	0.06359	+0.073%	$20K	$26K	10x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06350	−0.076%	$2.1M	$3.3M	50x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06357	+0.035%	$1.5M	$315K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06343	−0.186%	$2.6M	$1.9M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06351	−0.060%	—	$2.8M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06358	+0.050%	$44K	$23K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06354	−0.011%	$3K	$1K	10x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06350	−0.069%	—	—	20x	as long as short
Backpack PYTH_USDC_PERP	+0.0453%	1h	0.06358	+0.049%	$38K	$88K	10x	as long as short