Funding arb · Price arb /

PYTH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: KuCoin against Paradex+0.223%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 KuCoin

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: KuCoin is 0.223% dearer against Paradex than usual: you sell high and buy low, +$22 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	Paradex PYTH-USD-PERP	0.06304	0.0100	pay 0.0100% / 8h	5h 53m	$3K	—	10x
Short	KuCoin PYTHUSDTM	0.06318	0.0100	get 0.0050% / 4h	1h 53m	$1.5M	$341K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.223%Rate

Funding earned: $0.05
Price spread: +0.223% → 0.000%: $22.34
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $6.39
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; KuCoin: live order book, 3 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 KuCoin live order book, 3 min ago	8.69 bp	77.2 bp −$77	676.5 bp −$6,765	doesn't fit	doesn't fit

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 22 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	−0.0531%	1h	0.06333	+0.463%	$39K	$91K	10x	as long as short
Gate PYTH_USDT	−0.0184%	4h	0.06319	+0.239%	$1.0M	$496K	75x	as long as short
Binance PYTHUSDT	−0.0058%	4h	0.06331	+0.429%	$9.1M	$17.7M	75x	as long as short
MEXC PYTH_USDT	−0.0054%	4h	0.06320	+0.255%	$9.5M	$2.3M	125x	as long as short
Aster PYTHUSDT	−0.0021%	4h	0.06315	+0.183%	$20K	$46K	10x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06316	+0.190%	$188K	$19	5x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−0.697%	$553	$220K	5.5x	as long as short
Aevo PYTH-PERP	+0.0064%	1h	0.06325	+0.334%	$23K	—	3x	as long as short
Lighter PYTH	+0.0096%	1h	0.06332	+0.446%	$190K	$204K	5x	as long as short
Paradex PYTH-USD-PERPlong	+0.0100%	8h	0.06304	long leg	$3K	—	10x

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PYTH	+0.0100%	1h	0.06338	+0.536%	$2.0M	$1.7M	5x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	0.06326	+0.350%	$7.5M	$4.8M	50x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06334	+0.477%	$2.1M	$3.4M	50x	as long as short
KuCoin PYTHUSDTMshort	+0.0100%	4h	0.06318	+0.223%	$1.5M	$341K	50x
Bitget PYTHUSDT	+0.0100%	4h	0.06336	+0.509%	$2.7M	$2.1M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06329	+0.398%	—	$2.7M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06362	+0.929%	$38K	$26K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06321	+0.276%	$3K	$2K	10x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0176%	1h	0.06369	+1.032%	$39K	$18K	25x	as long as short
Kraken Futures PF_PYTHUSD	+0.0302%	1h	0.06332	+0.453%	$387K	$291K	25x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06310	+0.103%	—	—	20x	as long as short
Deribit PYTH_USDC-PERPETUAL	+0.0382%	1h	0.06335	+0.493%	$10K	$10K	10x	as long as short