Funding you earn now, next payment 01:00 UTC−0.0759%/8h= −83.2% APRpaid last 24h +0.005%
Price spread now: KuCoin against Backpack−0.086%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−0.167%−$17 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$23 a day on $10k at the current rate, and KuCoin is 0.086% cheaper against Backpack than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.167% in total (about -8.7% a year). A funding rate is set anew for every payment. 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 | 0.06369 | 0.0859 | pay 0.0107% / 1h | 46m 29s | $35K | $91K | 10x |
| Short | KuCoin PYTHUSDTM | 0.06363 | 0.0100 | get 0.0050% / 4h | 3h 46m | $1.5M | $325K | 50x |
Backpack PYTH_USDC_PERP
KuCoin PYTHUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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
- −$159.49
- Price spread: −0.086% → 0.000%
- −$8.64
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$190.13
- Costs to cover
- 0.220%
- Break-even
- never at this rate
Slippage unknown: Backpack: no order-book sample; KuCoin: live order book, 9 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 KuCoin live order book, 9 min ago | 8.63 bp | 77.4 bp −$77 | 648.4 bp −$6,484 | 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin PYTH-USDT | −0.0196% | 4h | 0.06355 | −0.212% | $424K | $113K | 75x | as long as short |
| Binance PYTHUSDT | −0.0179% | 4h | 0.06358 | −0.170% | $9.2M | $17.6M | 75x | as long as short |
| MEXC PYTH_USDT | −0.0178% | 4h | 0.06358 | −0.165% | $9.7M | $2.4M | 125x | as long as short |
| Kraken Futures PF_PYTHUSD | −0.0136% | 1h | 0.06365 | −0.060% | $390K | $289K | 25x | as long as short |
| Coinbase International PYTH-PERP-INTX | −0.0064% | 1h | 0.06368 | −0.008% | $40K | $18K | 25x | as long as short |
| Aster PYTHUSDT | −0.0012% | 4h | 0.06359 | −0.148% | $22K | $44K | 10x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06367 | −0.024% | $189K | $19 | 5x | as long as short |
| Injective PYTH/USDC PERP | +0.0033% | 1h | 0.06260 | −1.704% | $553 | $220K | 5.5x | as long as short |
| Aevo PYTH-PERP | +0.0040% | 1h | 0.06360 | −0.133% | $23K | — | 3x | as long as short |
| Lighter PYTH | +0.0096% | 1h | 0.06368 | −0.008% | $201K | $198K | 5x | as long as short |
BloFin PYTH-USDT
Binance PYTHUSDT
MEXC PYTH_USDT
Kraken Futures PF_PYTHUSD
Coinbase International PYTH-PERP-INTX
Aster PYTHUSDT
dYdX PYTH-USD
Injective PYTH/USDC PERP
Aevo PYTH-PERP
Lighter PYTHShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit PYTHUSDT | +0.0098% | 4h | 0.06360 | −0.133% | $7.6M | $4.8M | 50x | as long as short |
| Paradex PYTH-USD-PERP | +0.0100% | 8h | 0.06355 | −0.217% | $3K | $56 | 10x | as long as short |
| Hyperliquid PYTH | +0.0100% | 1h | 0.06366 | −0.039% | $1.9M | $1.6M | 5x | as long as short |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06354 | −0.228% | $2.1M | $3.4M | 50x | as long as short |
| Gate PYTH_USDT | +0.0100% | 4h | 0.06358 | −0.165% | $1.1M | $468K | 75x | as long as short |
| KuCoin PYTHUSDTMshort | +0.0100% | 4h | 0.06363 | −0.086% | $1.5M | $325K | 50x | |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06361 | −0.118% | $2.6M | $2.1M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06358 | −0.165% | — | $2.8M | — | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06370 | +0.016% | $38K | $27K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06360 | −0.129% | $3K | $2K | 10x | as long as short |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06357 | −0.180% | — | — | 20x | as long as short |
| Backpack PYTH_USDC_PERPlong | +0.0859% | 1h | 0.06369 | long leg | $35K | $91K | 10x | |
| Deribit PYTH_USDC-PERPETUAL | +0.1794% | 1h | 0.06374 | +0.086% | $10K | $10K | 10x | as long as short |
Bybit PYTHUSDT
Paradex PYTH-USD-PERP
Hyperliquid PYTH
OKX PYTH-USDT-SWAP
Gate PYTH_USDT
Bitget PYTHUSDT
BingX PYTH-USDT
Variational Omni PYTH
Orderly PERP_PYTH_USDC_mythos
Reya PYTHRUSDPERP
Deribit PYTH_USDC-PERPETUAL