Funding arb · Price arb /

PYTH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0010%/8h= −1.1% APRpaid last 24h −0.026%

Price spread now: MEXC against Paradex+0.048%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 MEXC

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. MEXC is 0.048% dearer against Paradex than usual: you sell high and buy low (spread +0.048% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 16 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex PYTH-USD-PERP	0.06273	0.0100	pay 0.0100% / 8h	20m 33s	$3K	—	10x
Short	MEXC PYTH_USDT	0.06276	0.0090	get 0.0045% / 4h	20m 33s	$10.6M	$2.8M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.048%Rate

Funding earned: −$2.1
Price spread: +0.048% → 0.000%: $4.76
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee MEXC: 0 bp × 2 orders: $0
Net: −$1.34
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; MEXC: 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 MEXC live order book, 3 min ago	0.80 bp	6.4 bp −$6	18.0 bp −$180	92.9 bp −$9,293	205.7 bp −$102.9K

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
Deribit PYTH_USDC-PERPETUAL	0.0000%	1h	0.06271	−0.032%	$10K	$10K	10x	as long as short
dYdX PYTH-USD	+0.0017%	1h	0.06281	+0.124%	$186K	$19	5x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−0.207%	$553	$220K	5.5x	as long as short
Backpack PYTH_USDC_PERP	+0.0061%	1h	0.06279	+0.092%	$35K	$67K	10x	as long as short
MEXC PYTH_USDTshort	+0.0090%	4h	0.06276	+0.048%	$10.6M	$2.8M	125x
Binance PYTHUSDT	+0.0093%	4h	0.06280	+0.111%	$9.1M	$19.9M	75x	as long as short
Lighter PYTH	+0.0096%	1h	0.06283	+0.159%	$194K	$221K	5x	as long as short
Paradex PYTH-USD-PERPlong	+0.0100%	8h	0.06273	long leg	$3K	—	10x
Hyperliquid PYTH	+0.0100%	1h	0.06282	+0.140%	$2.2M	$1.9M	5x	as long as short
Aster PYTHUSDT	+0.0100%	4h	0.06277	+0.065%	$21K	$47K	10x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit PYTHUSDT	+0.0100%	4h	0.06280	+0.111%	$7.4M	$4.9M	50x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06281	+0.127%	$2.1M	$3.5M	50x	as long as short
Gate PYTH_USDT	+0.0100%	4h	0.06271	−0.032%	$1.0M	$539K	75x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06277	+0.064%	$1.5M	$371K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06281	+0.127%	$2.6M	$2.3M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06277	+0.064%	—	$2.8M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06266	−0.113%	$40K	$27K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06271	−0.032%	$2K	$2K	10x	as long as short
Aevo PYTH-PERP	+0.0104%	1h	0.06270	−0.048%	$22K	—	3x	as long as short
BloFin PYTH-USDT	+0.0131%	4h	0.06263	−0.160%	$423K	$72K	75x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06268	−0.076%	—	—	20x	as long as short
Kraken Futures PF_PYTHUSD	+0.0455%	1h	0.06276	+0.041%	$380K	$307K	25x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0472%	1h	0.06427	+2.455%	$40K	$19K	25x	as long as short