Funding arb · Price arb /

PYTH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0001%/8h= −0.1% APRpaid last 24h −0.001%

Price spread now: Paradex against Orderly−0.110%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Paradex is 0.110% cheaper against Orderly than usual: you would sell low and buy high, −$11 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_PYTH_USDC_mythos	0.06315	0.0100	pay 0.0050% / 4h	2h 12m	$3K	$1K	10x
Short	Paradex PYTH-USD-PERP	0.06308	0.0099	get 0.0099% / 8h	2h 12m	$3K	$56	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Orderly. 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 OrderlybpFee ParadexbpOrdersPrice spread, now −0.110%Rate

Funding earned: −$0.15
Price spread: −0.110% → 0.000%: −$10.98
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$21.14
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Paradex: 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 Orderly no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

Orderly and Paradex: 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	+0.562%	$561	$180K	5.5x	as long as short
Deribit PYTH_USDC-PERPETUAL	−0.0383%	1h	0.06318	+0.055%	$10K	$10K	10x	as long as short
Kraken Futures PF_PYTHUSD	−0.0217%	1h	0.06311	−0.052%	$382K	$240K	25x	as long as short
Gate PYTH_USDT	−0.0046%	4h	0.06305	−0.150%	$1.1M	$466K	75x	as long as short
BloFin PYTH-USDT	−0.0004%	4h	0.06332	+0.277%	$424K	$117K	75x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06322	+0.115%	$188K	$19	5x	as long as short
MEXC PYTH_USDT	+0.0020%	4h	0.06310	−0.071%	$9.3M	$2.4M	125x	as long as short
Binance PYTHUSDT	+0.0021%	4h	0.06305	−0.150%	$9.1M	$16.0M	75x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0048%	1h	0.06431	+1.845%	$40K	$6K	25x	as long as short
Bybit PYTHUSDT	+0.0061%	4h	0.06305	−0.150%	$7.4M	$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	+0.0088%	1h	0.06311	−0.054%	$23K	—	3x	as long as short
Lighter PYTH	+0.0096%	1h	0.06317	+0.040%	$195K	$206K	5x	as long as short
Paradex PYTH-USD-PERPshort	+0.0099%	8h	0.06308	−0.110%	$3K	$56	10x
Hyperliquid PYTH	+0.0100%	1h	0.06319	+0.078%	$1.7M	$1.5M	5x	as long as short
Aster PYTHUSDT	+0.0100%	4h	0.06324	+0.146%	$20K	$24K	10x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06307	−0.119%	$2.1M	$3.3M	50x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06319	+0.071%	$1.5M	$304K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06315	+0.008%	$2.6M	$1.9M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06307	−0.119%	—	$2.8M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06338	+0.368%	$44K	$23K	—	as long as short
Orderly PERP_PYTH_USDC_mythoslong	+0.0100%	4h	0.06315	long leg	$3K	$1K	10x
Backpack PYTH_USDC_PERP	+0.0158%	1h	0.06313	−0.030%	$38K	$87K	10x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06312	−0.041%	—	—	20x	as long as short