PYTH

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0264%/8h= +28.9% APRnext payment +$0.33 per $10,000 · paid last 24h +0.069%

Price spread now: Kraken Futures against Injective+2.111%63s7-day average +0.392% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.676%+$68 on $10k

Price spread, last 4 days (all we have)−1.594%−$159 · spread now +2.111%, 7d avg +0.392%

Together, before fees−0.917%−$92 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Kraken Futures is 1.720% dearer against Injective than usual: you sell high and buy low: +$172 more if the spread goes back to its 7-day average of +0.392%. The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective PYTH/USDC PERP	0.06260	0.0033	pay 0.0004% / 1h	32m 16s	$553	$220K	5.5x
Short	Kraken Futures PF_PYTHUSD	0.06392	0.0297	get 0.0037% / 1h	32m 16s	$394K	$297K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpFee Kraken FuturesbpOrdersPrice spread, now +2.111%Rate

Funding earned: $55.42
Price spread: +2.111% → +0.392%: $171.98
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $217.38
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Kraken Futures: live order book, 21 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 Injective no order-book sample	—	—	—	—	—
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

Injective: 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	−0.0219%	1h	0.06388	+2.045%	$10K	$10K	10x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06388	+2.043%	$190K	$19	5x	as long as short
Injective PYTH/USDC PERPlong	+0.0033%	1h	0.06260	long leg	$553	$220K	5.5x
BloFin PYTH-USDT	+0.0075%	4h	0.06382	+1.949%	$428K	$78K	75x	as long as short
MEXC PYTH_USDT	+0.0076%	4h	0.06386	+2.013%	$10.4M	$2.7M	125x	as long as short
Binance PYTHUSDT	+0.0078%	4h	0.06383	+1.965%	$9.1M	$18.3M	75x	as long as short
Lighter PYTH	+0.0096%	1h	0.06392	+2.109%	$193K	$208K	5x	as long as short
Aster PYTHUSDT	+0.0098%	4h	0.06392	+2.103%	$20K	$45K	10x	as long as short
Paradex PYTH-USD-PERP	+0.0100%	8h	0.06378	+1.882%	$3K	—	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06391	+2.093%	$2.3M	$1.8M	5x	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	0.06384	+1.981%	$7.5M	$4.8M	50x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06384	+1.981%	$2.1M	$3.5M	50x	as long as short
Gate PYTH_USDT	+0.0100%	4h	0.06374	+1.821%	$1.0M	$518K	75x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06383	+1.965%	$1.5M	$346K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06382	+1.949%	$2.7M	$2.1M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06382	+1.949%	—	$2.7M	—	as long as short
Backpack PYTH_USDC_PERP	+0.0100%	1h	0.06391	+2.097%	$38K	$63K	10x	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06383	+1.971%	$39K	$25K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06387	+2.030%	$2K	$2K	10x	as long as short
Aevo PYTH-PERP	+0.0104%	1h	0.06392	+2.107%	$23K	—	3x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0152%	1h	0.06493	+3.722%	$40K	$19K	25x	as long as short
Kraken Futures PF_PYTHUSDshort	+0.0297%	1h	0.06392	+2.111%	$394K	$297K	25x
Reya PYTHRUSDPERP	+0.0302%	1h	0.06379	+1.907%	—	—	20x	as long as short