Funding you earn now, next payment 05:00 UTC+0.0197%/8h= +21.6% APRpaid last 24h +0.038%
Price spread now: Kraken Futures against Bybit−0.278%7-day average +0.131% · you buy dearer than you sell
Net, funding: paid 7d − costs−$70as in the Funding arb table
Net, price: spread back to 7d avg − costs−$164as in the Price arb table
costs, in and out, $10k−$1231.227% of the position
Funding, last 7 days+0.525%+$53 on $10k
+Price spread, last 4 days (all we have)+0.323%+$32 · spread now −0.278%, 7d avg +0.131%
=Funding pays, the price is against you. Kraken Futures is 0.409% cheaper against Bybit than usual: you would sell low and buy high (spread −0.278% now, against its 7-day average of +0.131%). If the spread goes back, that is −$41 on $10k: about 6.9 days of funding at the current rate (+$6 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit PYTHUSDT | 0.06410 | 0.0100 | pay 0.0050% / 4h | 3h 31m | $7.5M | $4.8M | 50x |
| Short | Kraken Futures PF_PYTHUSD | 0.06392 | 0.0297 | get 0.0037% / 1h | 31m 29s | $394K | $297K | 25x |
Bybit PYTHUSDT
Kraken Futures PF_PYTHUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Bybit. 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
- $41.42
- Price spread: −0.278% → +0.131%
- −$40.94
- Slippage, 4 orders
- −$101.65
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$122.18
- Costs to cover
- 1.227%
- Break-even
- 27.7 days
Slippage from Bybit: live order book, 2 min ago; Kraken Futures: live order book, 21 min ago.
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 Bybit live order book, 2 min ago | 2.35 bp | 36.8 bp −$37 | 258.6 bp −$2,586 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 21 min ago | 13.18 bp | 23.8 bp −$24 | 158.2 bp −$1,582 | doesn't fit | doesn't fit |
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 | −0.0219% | 1h | 0.06388 | −0.343% | $10K | $10K | 10x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06395 | −0.236% | $190K | $19 | 5x | as long as short |
| Injective PYTH/USDC PERP | +0.0033% | 1h | 0.06260 | −2.340% | $553 | $220K | 5.5x | as long as short |
| BloFin PYTH-USDT | +0.0075% | 4h | 0.06382 | −0.437% | $428K | $78K | 75x | as long as short |
| MEXC PYTH_USDT | +0.0078% | 4h | 0.06410 | 0.000% | $10.4M | $2.7M | 125x | as long as short |
| Binance PYTHUSDT | +0.0078% | 4h | 0.06407 | −0.051% | $9.2M | $18.3M | 75x | as long as short |
| Lighter PYTH | +0.0096% | 1h | 0.06398 | −0.187% | $193K | $208K | 5x | as long as short |
| Paradex PYTH-USD-PERP | +0.0100% | 8h | 0.06382 | −0.433% | $3K | — | 10x | as long as short |
| Hyperliquid PYTH | +0.0100% | 1h | 0.06420 | +0.148% | $2.3M | $1.8M | 5x | as long as short |
| Aster PYTHUSDT | +0.0100% | 4h | 0.06407 | −0.049% | $20K | $45K | 10x | as long as short |
Deribit PYTH_USDC-PERPETUAL
dYdX PYTH-USD
Injective PYTH/USDC PERP
BloFin PYTH-USDT
MEXC PYTH_USDT
Binance PYTHUSDT
Lighter PYTH
Paradex PYTH-USD-PERP
Hyperliquid PYTH
Aster PYTHUSDTShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit PYTHUSDTlong | +0.0100% | 4h | 0.06410 | long leg | $7.5M | $4.8M | 50x | |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06410 | 0.000% | $2.1M | $3.5M | 50x | as long as short |
| Gate PYTH_USDT | +0.0100% | 4h | 0.06397 | −0.203% | $1.1M | $518K | 75x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06389 | −0.328% | $1.5M | $346K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06408 | −0.031% | $2.7M | $2.1M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06404 | −0.094% | — | $2.7M | — | as long as short |
| Backpack PYTH_USDC_PERP | +0.0100% | 1h | 0.06394 | −0.257% | $38K | $63K | 10x | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06383 | −0.415% | $39K | $25K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06387 | −0.357% | $2K | $2K | 10x | as long as short |
| Aevo PYTH-PERP | +0.0104% | 1h | 0.06392 | −0.282% | $23K | — | 3x | as long as short |
| Coinbase International PYTH-PERP-INTX | +0.0152% | 1h | 0.06493 | +1.295% | $40K | $19K | 25x | as long as short |
| Kraken Futures PF_PYTHUSDshort | +0.0297% | 1h | 0.06392 | −0.278% | $394K | $297K | 25x | |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06408 | −0.033% | — | — | 20x | as long as short |
OKX PYTH-USDT-SWAP
Gate PYTH_USDT
KuCoin PYTHUSDTM
Bitget PYTHUSDT
BingX PYTH-USDT
Backpack PYTH_USDC_PERP
Variational Omni PYTH
Orderly PERP_PYTH_USDC_mythos
Aevo PYTH-PERP
Coinbase International PYTH-PERP-INTX
Reya PYTHRUSDPERP