PYTH

Alert

Funding spread now, next payment 16:00 UTC+0.0108%/8h

next payment, per $10,000+$0.14paid, last 24h+0.077%paid, last 7 days+0.289%to open and closeno order book

Long on Backpack Short on Kraken Futures

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack PYTH_USDC_PERP	0.06602	0.0158	pay 0.0020% / 1h	13m 55s	$29K	$80K	10x
Short	Kraken Futures PF_PYTHUSD	0.06602	0.0266	get 0.0033% / 1h	13m 55s	$405K	$220K	25x

Funding history

latest

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee BackpackbpFee Kraken FuturesbpOrdersRate

Funding earned: $22.72
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $2.72
Break-even: 6.2 days

Slippage unknown: Backpack: no order-book sample; Kraken Futures: live order book, 35 min ago. Net counts fees only.

Price risk

price view

Price gap now: −0.004%
Avg gap 7d: —

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 Kraken Futures live order book, 35 min ago	19.80 bp	29.9 bp −$30	150.7 bp −$1,507	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.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Deribit PYTH_USDC-PERPETUAL	−0.0355%	1h	$11K	$10K	10x	as long as short
Injective PYTH/USDC PERP	−0.0184%	1h	$577	$80K	5.5x	as long as short
dYdX PYTH-USD	0.0000%	1h	$196K	$19	5x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0056%	1h	$41K	$11K	25x	as long as short
Paradex PYTH-USD-PERP	+0.0096%	8h	$3K	$56	10x	as long as short
Lighter PYTH	+0.0096%	1h	$201K	$192K	5x	as long as short
Hyperliquid PYTH	+0.0100%	1h	$1.8M	$1.4M	5x	as long as short
Aster PYTHUSDT	+0.0100%	4h	$24K	$31K	10x	as long as short
Binance PYTHUSDT	+0.0100%	4h	$9.5M	$15.2M	75x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	$8.0M	$4.5M	50x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
OKX PYTH-USDT-SWAP	+0.0100%	4h	$2.1M	$3.4M	50x	as long as short
Gate PYTH_USDT	+0.0100%	4h	$1.2M	$455K	75x	as long as short
MEXC PYTH_USDT	+0.0100%	4h	$9.8M	$2.9M	125x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	$1.6M	$385K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	$2.8M	$1.9M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	—	$2.8M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	$47K	$16K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	$3K	$798	10x	as long as short
Aevo PYTH-PERP	+0.0104%	1h	$24K	—	3x	as long as short
Backpack PYTH_USDC_PERPlong	+0.0158%	1h	$29K	$80K	10x
Kraken Futures PF_PYTHUSDshort	+0.0266%	1h	$405K	$220K	25x
Reya PYTHRUSDPERP	+0.0302%	1h	—	—	20x	as long as short
BloFin PYTH-USDT	+0.0340%	4h	$449K	$126K	75x	as long as short