Funding you earn now, next payment 22:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h −0.024%
Price spread now: Deribit against Hyperliquid+0.039%50s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 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. Deribit is 0.039% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.039% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 31 hours. The two prices were read 50 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 | Hyperliquid PYTH | 0.06360 | 0.0100 | pay 0.0013% / 1h | 49m 31s | $1.7M | $1.4M | 5x |
| Short | Deribit PYTH_USDC-PERPETUAL | 0.06363 | 0 | get 0.0000% / 1h | 49m 31s | $10K | $10K | 10x |
Hyperliquid PYTH
Deribit PYTH_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- −$21
- Price spread: +0.039% → 0.000%
- $3.93
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$33.07
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 1 min ago; Deribit: 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, 1 min ago | 1.26 bp | 17.4 bp −$17 | doesn't fit | doesn't fit | doesn't fit |
| Sell Deribit no order-book sample | — | — | — | — | — |
Deribit: 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 | −0.165% | $561 | $180K | 5.5x | as long as short |
| Kraken Futures PF_PYTHUSD | −0.0215% | 1h | 0.06358 | −0.045% | $385K | $240K | 25x | as long as short |
| Gate PYTH_USDT | −0.0104% | 4h | 0.06350 | −0.165% | $1.1M | $463K | 75x | as long as short |
| MEXC PYTH_USDT | −0.0014% | 4h | 0.06355 | −0.086% | $9.4M | $2.4M | 125x | as long as short |
| Binance PYTHUSDT | −0.0013% | 4h | 0.06357 | −0.059% | $9.0M | $15.9M | 75x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06362 | +0.024% | $189K | $19 | 5x | as long as short |
| Deribit PYTH_USDC-PERPETUALshort | 0.0000% | 1h | 0.06363 | +0.039% | $10K | $10K | 10x | |
| BloFin PYTH-USDT | +0.0043% | 4h | 0.06351 | −0.149% | $420K | $122K | 75x | as long as short |
| Coinbase International PYTH-PERP-INTX | +0.0048% | 1h | 0.06431 | +1.108% | $40K | $9K | 25x | as long as short |
| Aevo PYTH-PERP | +0.0080% | 1h | 0.06363 | +0.041% | $23K | — | 3x | as long as short |
Injective PYTH/USDC PERP
Kraken Futures PF_PYTHUSD
Gate PYTH_USDT
MEXC PYTH_USDT
Binance PYTHUSDT
dYdX PYTH-USD
BloFin PYTH-USDT
Coinbase International PYTH-PERP-INTX
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 | 0.06364 | +0.055% | $197K | $203K | 5x | as long as short |
| Paradex PYTH-USD-PERP | +0.0098% | 8h | 0.06356 | −0.075% | $3K | $56 | 10x | as long as short |
| Hyperliquid PYTHlong | +0.0100% | 1h | 0.06360 | long leg | $1.7M | $1.4M | 5x | |
| Aster PYTHUSDT | +0.0100% | 4h | 0.06360 | −0.007% | $20K | $26K | 10x | as long as short |
| Bybit PYTHUSDT | +0.0100% | 4h | 0.06358 | −0.039% | $7.5M | $5.0M | 50x | as long as short |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06357 | −0.055% | $2.1M | $3.3M | 50x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06359 | −0.024% | $1.5M | $314K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06358 | −0.039% | $2.6M | $1.9M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06355 | −0.086% | — | $2.8M | — | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06350 | −0.172% | $44K | $23K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06359 | −0.027% | $3K | $1K | 10x | as long as short |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06354 | −0.096% | — | — | 20x | as long as short |
| Backpack PYTH_USDC_PERP | +0.0462% | 1h | 0.06363 | +0.046% | $38K | $88K | 10x | as long as short |
Lighter PYTH
Paradex PYTH-USD-PERP
Aster PYTHUSDT
Bybit PYTHUSDT
OKX PYTH-USDT-SWAP
KuCoin PYTHUSDTM
Bitget PYTHUSDT
BingX PYTH-USDT
Variational Omni PYTH
Orderly PERP_PYTH_USDC_mythos
Reya PYTHRUSDPERP
Backpack PYTH_USDC_PERP