PYTH

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0134%/8h= −14.7% APRnext payment −$0.67 per $10,000 · paid last 24h −0.014%

Price spread now: Gate against KuCoin−0.191%7-day average −0.065% · you buy dearer than you sell

Net, funding: paid 7d − costs−$303as in the Funding arb table

Net, price: spread back to 7d avg − costs−$312as in the Price arb table

costs, in and out, $10k−$2992.993% of the position

Long on KuCoin Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.036%−$4 on $10k

Price spread, last 7 days+0.057%+$6 · spread now −0.191%, 7d avg −0.065%

Together, before fees+0.021%+$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Gate is 0.125% cheaper against KuCoin than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.065%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PYTHUSDTM	0.06293	0.0100	pay 0.0050% / 4h	1h 28m	$1.5M	$315K	50x
Short	Gate PYTH_USDT	0.06281	−0.0034	pay 0.0017% / 4h	1h 28m	$1.1M	$479K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against KuCoin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 KuCoinbpFee GatebpOrdersPrice spread, now −0.191%Rate

Funding earned: −$28.14
Price spread: −0.191% → −0.065%: −$12.55
Slippage, 4 orders: −$272.35
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$340.03
Costs to cover: 2.993%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; Gate: live order book, 4 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 KuCoin live order book, 2 min ago	9.56 bp	158.0 bp −$158	879.0 bp −$8,790	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	3.98 bp	29.6 bp −$30	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
Injective PYTH/USDC PERP	−0.0428%	1h	0.06260	−0.524%	$553	$220K	5.5x	as long as short
Kraken Futures PF_PYTHUSD	−0.0208%	1h	0.06290	−0.055%	$382K	$252K	25x	as long as short
Binance PYTHUSDT	−0.0035%	4h	0.06293	+0.003%	$9.1M	$17.1M	75x	as long as short
Gate PYTH_USDTshort	−0.0034%	4h	0.06281	−0.191%	$1.1M	$479K	75x
MEXC PYTH_USDT	−0.0034%	4h	0.06293	0.000%	$9.2M	$2.3M	125x	as long as short
Bybit PYTHUSDT	−0.0020%	4h	0.06292	−0.016%	$7.4M	$5.1M	50x	as long as short
BloFin PYTH-USDT	−0.0010%	4h	0.06279	−0.222%	$422K	$114K	75x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06290	−0.045%	$187K	$19	5x	as long as short
Deribit PYTH_USDC-PERPETUAL	0.0000%	1h	0.06291	−0.032%	$10K	$10K	10x	as long as short
Aevo PYTH-PERP	+0.0072%	1h	0.06282	−0.173%	$22K	—	3x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International PYTH-PERP-INTX	+0.0080%	1h	0.06431	+2.193%	$40K	$6K	25x	as long as short
Lighter PYTH	+0.0096%	1h	0.06302	+0.143%	$196K	$210K	5x	as long as short
Paradex PYTH-USD-PERP	+0.0099%	8h	0.06293	+0.004%	$3K	$56	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06293	+0.005%	$1.7M	$1.5M	5x	as long as short
Aster PYTHUSDT	+0.0100%	4h	0.06284	−0.136%	$25K	$40K	10x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06282	−0.175%	$2.1M	$3.4M	50x	as long as short
KuCoin PYTHUSDTMlong	+0.0100%	4h	0.06293	long leg	$1.5M	$315K	50x
Bitget PYTHUSDT	+0.0100%	4h	0.06295	+0.032%	$2.6M	$2.0M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06287	−0.095%	—	$2.8M	—	as long as short
Backpack PYTH_USDC_PERP	+0.0100%	1h	0.06292	−0.021%	$38K	$88K	10x	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06281	−0.187%	$44K	$22K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06290	−0.054%	$3K	$1K	10x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06288	−0.072%	—	—	20x	as long as short