Funding arb · Price arb /

PYTH

all PYTH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0099%/8h= −10.9% APRpaid last 24h −0.029%

Price spread now: dYdX against Paradex+0.194%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on dYdX

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

The price spread pays, funding is against you. dYdX is 0.194% dearer against Paradex than usual: you sell high and buy low (spread +0.194% now, against zero (this spread has no 7-day history yet)): +$19 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 6.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex PYTH-USD-PERP	0.06277	0.0099	pay 0.0099% / 8h	1h 17m	$3K	$56	10x
Short	dYdX PYTH-USD	0.06289	0	get 0.0000% / 1h	17m 53s	$187K	$19	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Paradex. 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 ParadexbpFee dYdXbpOrdersPrice spread, now +0.194%Rate

Funding earned: −$20.89
Price spread: +0.194% → 0.000%: $19.37
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$15.52
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; dYdX: live order book, 1 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 Paradex no order-book sample	—	—	—	—	—
Sell dYdX live order book, 1 min ago	91.50 bp	96.5 bp −$96	212.7 bp −$2,127	295.2 bp −$29.5K	526.2 bp −$263.1K

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	−0.0428%	1h	0.06260	−0.270%	$553	$220K	5.5x	as long as short
Deribit PYTH_USDC-PERPETUAL	−0.0387%	1h	0.06277	+0.001%	$10K	$10K	10x	as long as short
Kraken Futures PF_PYTHUSD	−0.0208%	1h	0.06279	+0.038%	$381K	$252K	25x	as long as short
BloFin PYTH-USDT	−0.0096%	4h	0.06280	+0.048%	$419K	$114K	75x	as long as short
Binance PYTHUSDT	−0.0054%	4h	0.06274	−0.041%	$9.0M	$17.1M	75x	as long as short
MEXC PYTH_USDT	−0.0054%	4h	0.06275	−0.031%	$9.1M	$2.3M	125x	as long as short
Bybit PYTHUSDT	−0.0042%	4h	0.06279	+0.032%	$7.4M	$5.1M	50x	as long as short
Gate PYTH_USDT	−0.0020%	4h	0.06273	−0.063%	$1.1M	$480K	75x	as long as short
dYdX PYTH-USDshort	0.0000%	1h	0.06289	+0.194%	$187K	$19	5x
Aevo PYTH-PERP	+0.0064%	1h	0.06280	+0.055%	$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	+2.454%	$40K	$6K	25x	as long as short
Aster PYTHUSDT	+0.0096%	4h	0.06281	+0.064%	$25K	$40K	10x	as long as short
Lighter PYTH	+0.0096%	1h	0.06285	+0.128%	$196K	$210K	5x	as long as short
Paradex PYTH-USD-PERPlong	+0.0099%	8h	0.06277	long leg	$3K	$56	10x
Hyperliquid PYTH	+0.0100%	1h	0.06282	+0.087%	$1.7M	$1.5M	5x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06278	+0.017%	$2.1M	$3.4M	50x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06284	+0.112%	$1.5M	$314K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06285	+0.128%	$2.6M	$2.0M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06279	+0.032%	—	$2.8M	—	as long as short
Backpack PYTH_USDC_PERP	+0.0100%	1h	0.06285	+0.122%	$38K	$88K	10x	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06291	+0.227%	$44K	$22K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06281	+0.067%	$3K	$1K	10x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06280	+0.052%	—	—	20x	as long as short