PYTH

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0399%/8h= −43.6% APRnext payment −$0.50 per $10,000 · paid last 24h +0.066%

Price spread now: Kraken Futures against dYdX+0.019%7-day average +0.049% · you sell dearer than you buy

Net, funding: paid 7d − costs−$218as in the Funding arb table

Net, price: spread back to 7d avg − costs−$288as in the Price arb table

costs, in and out, $10k−$2842.845% of the position

Long on dYdX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.661%+$66 on $10k

Price spread, last 3 days (all we have)−0.008%−$1 · spread now +0.019%, 7d avg +0.049%

Together, before fees+0.653%+$65 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Kraken Futures is 0.031% cheaper against dYdX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.049%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.661%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX PYTH-USD	0.06327	0	get 0.0000% / 1h	4m 15s	$188K	$19	5x
Short	Kraken Futures PF_PYTHUSD	0.06328	−0.0399	pay 0.0050% / 1h	4m 15s	$377K	$264K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against dYdX. 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 dYdXbpFee Kraken FuturesbpOrdersPrice spread, now +0.019%Rate

Funding earned: −$83.7
Price spread: +0.019% → +0.049%: −$3.06
Slippage, 4 orders: −$264.47
Fee dYdX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$371.23
Costs to cover: 2.845%
Break-even: never at this rate

Slippage from dYdX: live order book, 10 min ago; Kraken Futures: live order book, 8 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 dYdX live order book, 10 min ago	113.82 bp	118.8 bp −$119	118.8 bp −$1,188	145.8 bp −$14.6K	746.9 bp −$373.4K
Sell Kraken Futures live order book, 8 min ago	7.12 bp	25.7 bp −$26	142.3 bp −$1,423	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
Kraken Futures PF_PYTHUSDshort	−0.0399%	1h	0.06328	+0.019%	$377K	$264K	25x
MEXC PYTH_USDT	−0.0196%	4h	0.06323	−0.061%	$9.4M	$2.4M	125x	as long as short
Binance PYTHUSDT	−0.0196%	4h	0.06323	−0.061%	$9.0M	$17.2M	75x	as long as short
BloFin PYTH-USDT	−0.0189%	4h	0.06312	−0.235%	$420K	$114K	75x	as long as short
Aster PYTHUSDT	−0.0023%	4h	0.06331	+0.068%	$22K	$44K	10x	as long as short
dYdX PYTH-USDlong	0.0000%	1h	0.06327	long leg	$188K	$19	5x
Deribit PYTH_USDC-PERPETUAL	0.0000%	1h	0.06330	+0.050%	$10K	$10K	10x	as long as short
Aevo PYTH-PERP	+0.0032%	1h	0.06325	−0.025%	$23K	—	3x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−1.057%	$553	$220K	5.5x	as long as short
Bybit PYTHUSDT	+0.0034%	4h	0.06325	−0.029%	$7.5M	$4.8M	50x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PYTH_USDT	+0.0046%	4h	0.06318	−0.140%	$1.1M	$477K	75x	as long as short
Lighter PYTH	+0.0096%	1h	0.06332	+0.081%	$201K	$217K	5x	as long as short
Paradex PYTH-USD-PERP	+0.0099%	8h	0.06317	−0.148%	$3K	$56	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06333	+0.103%	$1.7M	$1.5M	5x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06329	+0.034%	$2.1M	$3.4M	50x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06327	+0.002%	$1.5M	$314K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06330	+0.050%	$2.6M	$2.0M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06325	−0.029%	—	$2.8M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06312	−0.240%	$44K	$22K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06325	−0.031%	$3K	$1K	10x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0176%	1h	0.06324	−0.045%	$39K	$6K	25x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06326	−0.020%	—	—	20x	as long as short
Backpack PYTH_USDC_PERP	+0.0502%	1h	0.06332	+0.081%	$36K	$89K	10x	as long as short