Funding you earn now, next payment 10:00 UTC−0.0096%/8h= −10.5% APRnext payment −$0.12 per $10,000 · paid last 24h 0.000%
Price spread now: Deribit against Lighter−0.032%7-day average — · you buy dearer than you sell
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 airdropLighter: Season 3 · farm boardneeds both histories
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.032% cheaper against Lighter than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter PYTH | 0.06282 | 0.0096 | pay 0.0012% / 1h | 20m 46s | $194K | $207K | 5x |
| Short | Deribit PYTH_USDC-PERPETUAL | 0.06280 | 0 | get 0.0000% / 1h | 20m 46s | $10K | — | 10x |
Lighter PYTH
Deribit PYTH_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Lighter. 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
- −$20.16
- Price spread: −0.032% → 0.000%
- −$3.18
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$30.34
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Lighter: live order book, 25 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 Lighter live order book, 25 min ago | 3.99 bp | 12.2 bp −$12 | 88.4 bp −$884 | 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 exchanges
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 | −0.0056% | 1h | 0.06281 | −0.013% | $35K | $53K | 10x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06274 | −0.132% | $186K | $13 | 5x | as long as short |
| Deribit PYTH_USDC-PERPETUALshort | 0.0000% | 1h | 0.06280 | −0.032% | $10K | — | 10x | |
| Injective PYTH/USDC PERP | +0.0033% | 1h | 0.06260 | −0.350% | $553 | $220K | 5.5x | as long as short |
| Lighter PYTHlong | +0.0096% | 1h | 0.06282 | long leg | $194K | $207K | 5x | |
| Paradex PYTH-USD-PERP | +0.0100% | 8h | 0.06275 | −0.104% | $3K | — | 10x | as long as short |
| Hyperliquid PYTH | +0.0100% | 1h | 0.06279 | −0.054% | $2.1M | $1.9M | 5x | as long as short |
| Aster PYTHUSDT | +0.0100% | 4h | 0.06279 | −0.056% | $19K | $47K | 10x | as long as short |
| Binance PYTHUSDT | +0.0100% | 4h | 0.06270 | −0.187% | $8.9M | $19.1M | 75x | as long as short |
| Bybit PYTHUSDT | +0.0100% | 4h | 0.06274 | −0.127% | $7.5M | $4.4M | 50x | as long as short |
Backpack PYTH_USDC_PERP
dYdX PYTH-USD
Injective PYTH/USDC PERP
Paradex PYTH-USD-PERP
Hyperliquid PYTH
Aster PYTHUSDT
Binance PYTHUSDT
Bybit PYTHUSDTShow all 23 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06272 | −0.159% | $2.1M | $3.5M | 50x | as long as short |
| Gate PYTH_USDT | +0.0100% | 4h | 0.06269 | −0.207% | $1.0M | $495K | 75x | as long as short |
| MEXC PYTH_USDT | +0.0100% | 4h | 0.06273 | −0.143% | $11.2M | $2.9M | 125x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06276 | −0.096% | $1.5M | $359K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06274 | −0.127% | $2.6M | $2.3M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06275 | −0.111% | — | $2.7M | — | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06270 | −0.188% | $39K | $24K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06273 | −0.145% | $2K | $2K | 10x | as long as short |
| Aevo PYTH-PERP | +0.0104% | 1h | 0.06272 | −0.153% | $22K | — | 3x | as long as short |
| BloFin PYTH-USDT | +0.0158% | 4h | 0.06273 | −0.143% | $426K | $72K | 75x | as long as short |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06278 | −0.056% | — | — | 20x | as long as short |
| Kraken Futures PF_PYTHUSD | +0.0462% | 1h | 0.06280 | −0.029% | $381K | $259K | 25x | as long as short |
| Coinbase International PYTH-PERP-INTX | +0.0616% | 1h | 0.06330 | +0.764% | $39K | $20K | 25x | as long as short |
OKX PYTH-USDT-SWAP
Gate PYTH_USDT
MEXC PYTH_USDT
KuCoin PYTHUSDTM
Bitget PYTHUSDT
BingX PYTH-USDT
Variational Omni PYTH
Orderly PERP_PYTH_USDC_mythos
Aevo PYTH-PERP
BloFin PYTH-USDT
Reya PYTHRUSDPERP
Kraken Futures PF_PYTHUSD
Coinbase International PYTH-PERP-INTX