Funding you earn now, next payment 22:00 UTC−0.0430%/8h= −47.1% APRnext payment −$0.54 per $10,000 · paid last 24h +0.047%
Price spread now: Kraken Futures against Backpack−0.018%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.292%+$29 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$13 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.292%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.292% in total (about 15.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.54 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack PYTH_USDC_PERP | 0.06348 | 0.0215 | pay 0.0027% / 1h | 16m 48s | $38K | $87K | 10x |
| Short | Kraken Futures PF_PYTHUSD | 0.06346 | −0.0216 | pay 0.0027% / 1h | 16m 48s | $384K | $240K | 25x |
Backpack PYTH_USDC_PERP
Kraken Futures PF_PYTHUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Backpack. 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
- −$90.4
- Price spread: −0.018% → 0.000%
- −$1.82
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$112.22
- Costs to cover
- 0.200%
- Break-even
- never at this rate
Slippage unknown: Backpack: no order-book sample; Kraken Futures: live order book, 6 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 Backpack no order-book sample | — | — | — | — | — |
| Sell Kraken Futures live order book, 6 min ago | 22.07 bp | 29.5 bp −$29 | 161.5 bp −$1,615 | doesn't fit | doesn't fit |
Backpack: 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 | +0.039% | $561 | $180K | 5.5x | as long as short |
| Deribit PYTH_USDC-PERPETUAL | −0.0537% | 1h | 0.06347 | −0.008% | $10K | $10K | 10x | as long as short |
| Kraken Futures PF_PYTHUSDshort | −0.0216% | 1h | 0.06346 | −0.018% | $384K | $240K | 25x | |
| Gate PYTH_USDT | −0.0028% | 4h | 0.06345 | −0.039% | $1.1M | $466K | 75x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06351 | +0.049% | $189K | $19 | 5x | as long as short |
| BloFin PYTH-USDT | +0.0013% | 4h | 0.06338 | −0.150% | $423K | $117K | 75x | as long as short |
| MEXC PYTH_USDT | +0.0020% | 4h | 0.06338 | −0.150% | $9.4M | $2.4M | 125x | as long as short |
| Binance PYTHUSDT | +0.0023% | 4h | 0.06338 | −0.155% | $9.1M | $15.9M | 75x | as long as short |
| Coinbase International PYTH-PERP-INTX | +0.0048% | 1h | 0.06431 | +1.315% | $40K | $6K | 25x | as long as short |
| Aevo PYTH-PERP | +0.0088% | 1h | 0.06340 | −0.118% | $23K | — | 3x | as long as short |
Injective PYTH/USDC PERP
Deribit PYTH_USDC-PERPETUAL
Gate PYTH_USDT
dYdX PYTH-USD
BloFin PYTH-USDT
MEXC PYTH_USDT
Binance PYTHUSDT
Coinbase International PYTH-PERP-INTX
Aevo PYTH-PERPShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter PYTH | +0.0096% | 1h | 0.06349 | +0.024% | $196K | $206K | 5x | as long as short |
| Paradex PYTH-USD-PERP | +0.0099% | 8h | 0.06340 | −0.125% | $3K | $56 | 10x | as long as short |
| Hyperliquid PYTH | +0.0100% | 1h | 0.06345 | −0.036% | $1.7M | $1.5M | 5x | as long as short |
| Aster PYTHUSDT | +0.0100% | 4h | 0.06337 | −0.158% | $20K | $24K | 10x | as long as short |
| Bybit PYTHUSDT | +0.0100% | 4h | 0.06341 | −0.102% | $7.4M | $4.9M | 50x | as long as short |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06339 | −0.134% | $2.1M | $3.3M | 50x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06344 | −0.055% | $1.5M | $304K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06342 | −0.087% | $2.6M | $1.9M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06341 | −0.102% | — | $2.8M | — | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06348 | +0.010% | $44K | $23K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06341 | −0.101% | $3K | $1K | 10x | as long as short |
| Backpack PYTH_USDC_PERPlong | +0.0215% | 1h | 0.06348 | long leg | $38K | $87K | 10x | |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06342 | −0.091% | — | — | 20x | as long as short |
Lighter PYTH
Paradex PYTH-USD-PERP
Hyperliquid PYTH
Aster PYTHUSDT
Bybit PYTHUSDT
OKX PYTH-USDT-SWAP
KuCoin PYTHUSDTM
Bitget PYTHUSDT
BingX PYTH-USDT
Variational Omni PYTH
Orderly PERP_PYTH_USDC_mythos
Reya PYTHRUSDPERP