Funding you earn now, next payment 06:00 UTC−0.0142%/8h= −15.6% APRnext payment −$0.18 per $10,000 · paid last 24h −0.025%
Price spread now: Lighter against Kraken Futures+0.012%7-day average −0.034% · you sell dearer than you buy
Net, funding: paid 7d − costs−$128as in the Funding arb table
Net, price: spread back to 7d avg − costs−$76as in the Price arb table
costs, in and out, $10k−$800.802% of the position
Funding, last 7 days−0.479%−$48 on $10k
+Price spread, last 4 days (all we have)−0.023%−$2 · spread now +0.012%, 7d avg −0.034%
=Together, before fees−0.502%+ Points / potential airdropLighter: Season 3 · farm board−$50 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Lighter is 0.046% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.012% now, against its 7-day average of −0.034%): +$5 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 26 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_PYTHUSD | 0.06258 | 0.0238 | pay 0.0030% / 1h | 38m 48s | $382K | $302K | 25x |
| Short | Lighter PYTH | 0.06259 | 0.0096 | get 0.0012% / 1h | 38m 48s | $191K | $207K | 5x |
Kraken Futures PF_PYTHUSD
Lighter PYTHFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Kraken Futures. 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
- −$29.85
- Price spread: +0.012% → −0.034%
- $4.64
- Slippage, 4 orders
- −$70.19
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$105.4
- Costs to cover
- 0.802%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 9 min ago; Lighter: live order book, 56 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 Kraken Futures live order book, 9 min ago | 6.32 bp | 24.7 bp −$25 | 505.9 bp −$5,059 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 56 min ago | 3.13 bp | 11.2 bp −$11 | 93.1 bp −$931 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Backpack PYTH_USDC_PERP | −0.0457% | 1h | 0.06257 | −0.017% | $38K | $63K | 10x | as long as short |
| Gate PYTH_USDT | −0.0094% | 4h | 0.06240 | −0.291% | $1.0M | $526K | 75x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06245 | −0.211% | $185K | $19 | 5x | as long as short |
| Deribit PYTH_USDC-PERPETUAL | 0.0000% | 1h | 0.06261 | +0.044% | $10K | $10K | 10x | as long as short |
| Binance PYTHUSDT | +0.0031% | 4h | 0.06250 | −0.124% | $8.9M | $18.8M | 75x | as long as short |
| MEXC PYTH_USDT | +0.0032% | 4h | 0.06250 | −0.132% | $10.4M | $2.6M | 125x | as long as short |
| Injective PYTH/USDC PERP | +0.0033% | 1h | 0.06260 | +0.028% | $553 | $220K | 5.5x | as long as short |
| BloFin PYTH-USDT | +0.0080% | 4h | 0.06237 | −0.339% | $422K | $74K | 75x | as long as short |
| Aevo PYTH-PERP | +0.0088% | 1h | 0.06255 | −0.052% | $22K | — | 3x | as long as short |
| Lighter PYTHshort | +0.0096% | 1h | 0.06259 | +0.012% | $191K | $207K | 5x |
Backpack PYTH_USDC_PERP
Gate PYTH_USDT
dYdX PYTH-USD
Deribit PYTH_USDC-PERPETUAL
Binance PYTHUSDT
MEXC PYTH_USDT
Injective PYTH/USDC PERP
BloFin PYTH-USDT
Aevo PYTH-PERPShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Paradex PYTH-USD-PERP | +0.0100% | 8h | 0.06240 | −0.295% | $3K | — | 10x | as long as short |
| Hyperliquid PYTH | +0.0100% | 1h | 0.06256 | −0.028% | $2.2M | $1.9M | 5x | as long as short |
| Aster PYTHUSDT | +0.0100% | 4h | 0.06246 | −0.189% | $20K | $45K | 10x | as long as short |
| Bybit PYTHUSDT | +0.0100% | 4h | 0.06251 | −0.116% | $7.4M | $4.8M | 50x | as long as short |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06253 | −0.084% | $2.1M | $3.5M | 50x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06251 | −0.116% | $1.5M | $351K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06248 | −0.164% | $2.6M | $2.2M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06251 | −0.116% | — | $2.7M | — | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06257 | −0.020% | $38K | $25K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06252 | −0.100% | $2K | $2K | 10x | as long as short |
| Kraken Futures PF_PYTHUSDlong | +0.0238% | 1h | 0.06258 | long leg | $382K | $302K | 25x | |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06248 | −0.166% | — | — | 20x | as long as short |
| Coinbase International PYTH-PERP-INTX | +0.0312% | 1h | 0.06493 | +3.751% | $40K | $19K | 25x | as long as short |
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
Coinbase International PYTH-PERP-INTX