Funding you earn now, next payment 06:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.032%
Price spread now: Bybit against Injective−0.240%7-day average +0.271% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.151%+$15 on $10k
+Price spread, last 4 days (all we have)+0.562%+$56 · spread now −0.240%, 7d avg +0.271%
=Funding pays, the price is against you. Bybit is 0.510% cheaper against Injective than usual: you would sell low and buy high (spread −0.240% now, against its 7-day average of +0.271%). If the spread goes back, that is −$51 on $10k: about 26 days of funding at the current rate (+$2 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective PYTH/USDC PERP | 0.06260 | 0.0033 | pay 0.0004% / 1h | 22m 52s | $553 | $220K | 5.5x |
| Short | Bybit PYTHUSDT | 0.06245 | 0.0100 | get 0.0050% / 4h | 2h 22m | $7.3M | $4.8M | 50x |
Injective PYTH/USDC PERP
Bybit PYTHUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Injective. 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
- $14
- Price spread: −0.240% → +0.271%
- −$51.02
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$48.04
- Costs to cover
- 0.110%
- Break-even
- 31.0 days
Slippage unknown: Injective: no order-book sample; Bybit: live order book, 5 min ago. 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 Injective no order-book sample | — | — | — | — | — |
| Sell Bybit live order book, 5 min ago | 3.20 bp | 36.5 bp −$36 | 91.6 bp −$916 | doesn't fit | doesn't fit |
Injective: 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 | |
|---|---|---|---|---|---|---|---|---|
| Backpack PYTH_USDC_PERP | −0.0437% | 1h | 0.06249 | −0.182% | $38K | $63K | 10x | as long as short |
| Gate PYTH_USDT | −0.0146% | 4h | 0.06231 | −0.463% | $1.0M | $530K | 75x | as long as short |
| Deribit PYTH_USDC-PERPETUAL | −0.0070% | 1h | 0.06239 | −0.335% | $10K | $10K | 10x | as long as short |
| BloFin PYTH-USDT | −0.0020% | 4h | 0.06240 | −0.319% | $420K | $75K | 75x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06249 | −0.180% | $186K | $19 | 5x | as long as short |
| MEXC PYTH_USDT | +0.0004% | 4h | 0.06245 | −0.240% | $10.3M | $2.7M | 125x | as long as short |
| Binance PYTHUSDT | +0.0006% | 4h | 0.06246 | −0.224% | $8.9M | $18.9M | 75x | as long as short |
| Injective PYTH/USDC PERPlong | +0.0033% | 1h | 0.06260 | long leg | $553 | $220K | 5.5x | |
| Aevo PYTH-PERP | +0.0080% | 1h | 0.06235 | −0.399% | $22K | — | 3x | as long as short |
| Lighter PYTH | +0.0096% | 1h | 0.06244 | −0.256% | $192K | $210K | 5x | as long as short |
Backpack PYTH_USDC_PERP
Gate PYTH_USDT
Deribit PYTH_USDC-PERPETUAL
BloFin PYTH-USDT
dYdX PYTH-USD
MEXC PYTH_USDT
Binance PYTHUSDT
Aevo PYTH-PERP
Lighter PYTHShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Paradex PYTH-USD-PERP | +0.0100% | 8h | 0.06236 | −0.377% | $3K | — | 10x | as long as short |
| Hyperliquid PYTH | +0.0100% | 1h | 0.06245 | −0.232% | $2.1M | $1.9M | 5x | as long as short |
| Aster PYTHUSDT | +0.0100% | 4h | 0.06242 | −0.288% | $20K | $45K | 10x | as long as short |
| Bybit PYTHUSDTshort | +0.0100% | 4h | 0.06245 | −0.240% | $7.3M | $4.8M | 50x | |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06247 | −0.208% | $2.1M | $3.4M | 50x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06239 | −0.335% | $1.5M | $351K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06239 | −0.335% | $2.6M | $2.2M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06245 | −0.240% | — | $2.8M | — | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06231 | −0.464% | $38K | $25K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06237 | −0.361% | $2K | $2K | 10x | as long as short |
| Kraken Futures PF_PYTHUSD | +0.0239% | 1h | 0.06241 | −0.300% | $381K | $302K | 25x | as long as short |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06232 | −0.451% | — | — | 20x | as long as short |
| Coinbase International PYTH-PERP-INTX | +0.0312% | 1h | 0.06493 | +3.722% | $40K | $19K | 25x | as long as short |
Paradex PYTH-USD-PERP
Hyperliquid PYTH
Aster PYTHUSDT
OKX PYTH-USDT-SWAP
KuCoin PYTHUSDTM
Bitget PYTHUSDT
BingX PYTH-USDT
Variational Omni PYTH
Orderly PERP_PYTH_USDC_mythos
Kraken Futures PF_PYTHUSD
Reya PYTHRUSDPERP
Coinbase International PYTH-PERP-INTX