Funding you earn now, next payment 22:00 UTC+0.0305%/8h= +33.4% APRpaid last 24h −0.071%
Price spread now: Bybit against Kraken Futures−0.051%7-day average −0.134% · you buy dearer than you sell
Net, funding: paid 7d − costs−$165as in the Funding arb table
Net, price: spread back to 7d avg − costs−$106as in the Price arb table
costs, in and out, $10k−$1141.143% of the position
Funding, last 7 days−0.510%−$51 on $10k
+Price spread, last 3 days (all we have)+0.120%+$12 · spread now −0.051%, 7d avg −0.134%
=Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Bybit is 0.083% dearer against Kraken Futures than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.134%. Mind the row above: over the last 7 days funding on this pair cost −0.510%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_PYTHUSD | 0.06293 | −0.0218 | get 0.0027% / 1h | 9m 53s | $381K | $240K | 25x |
| Short | Bybit PYTHUSDT | 0.06290 | 0.0087 | get 0.0044% / 4h | 2h 09m | $7.4M | $5.0M | 50x |
Kraken Futures PF_PYTHUSD
Bybit PYTHUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- $63.97
- Price spread: −0.051% → −0.134%
- $8.26
- Slippage, 4 orders
- −$93.32
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$42.1
- Costs to cover
- 1.143%
- Break-even
- 11.6 days
Slippage from Kraken Futures: live order book, 13 min ago; Bybit: 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 Kraken Futures live order book, 13 min ago | 22.07 bp | 27.1 bp −$27 | 634.8 bp −$6,348 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 8 min ago | 2.37 bp | 32.6 bp −$33 | 123.6 bp −$1,236 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective PYTH/USDC PERP | −0.0586% | 1h | 0.06350 | +0.902% | $561 | $180K | 5.5x | as long as short |
| Deribit PYTH_USDC-PERPETUAL | −0.0226% | 1h | 0.06299 | +0.092% | $10K | $10K | 10x | as long as short |
| Kraken Futures PF_PYTHUSDlong | −0.0218% | 1h | 0.06293 | long leg | $381K | $240K | 25x | |
| Gate PYTH_USDT | −0.0062% | 4h | 0.06282 | −0.178% | $1.1M | $467K | 75x | as long as short |
| BloFin PYTH-USDT | −0.0029% | 4h | 0.06302 | +0.139% | $423K | $115K | 75x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06298 | +0.069% | $187K | $19 | 5x | as long as short |
| Binance PYTHUSDT | +0.0012% | 4h | 0.06285 | −0.133% | $9.1M | $16.1M | 75x | as long as short |
| MEXC PYTH_USDT | +0.0014% | 4h | 0.06288 | −0.083% | $9.3M | $2.4M | 125x | as long as short |
| Coinbase International PYTH-PERP-INTX | +0.0048% | 1h | 0.06431 | +2.189% | $40K | $6K | 25x | as long as short |
| Aevo PYTH-PERP | +0.0080% | 1h | 0.06290 | −0.051% | $22K | — | 3x | as long as short |
Injective PYTH/USDC PERP
Deribit PYTH_USDC-PERPETUAL
Gate PYTH_USDT
BloFin PYTH-USDT
dYdX PYTH-USD
Binance PYTHUSDT
MEXC PYTH_USDT
Coinbase International PYTH-PERP-INTX
Aevo PYTH-PERPShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit PYTHUSDTshort | +0.0087% | 4h | 0.06290 | −0.051% | $7.4M | $5.0M | 50x | |
| Lighter PYTH | +0.0096% | 1h | 0.06300 | +0.108% | $195K | $206K | 5x | as long as short |
| Paradex PYTH-USD-PERP | +0.0099% | 8h | 0.06286 | −0.114% | $3K | $56 | 10x | as long as short |
| Hyperliquid PYTH | +0.0100% | 1h | 0.06292 | −0.016% | $1.7M | $1.5M | 5x | as long as short |
| Aster PYTHUSDT | +0.0100% | 4h | 0.06289 | −0.067% | $19K | $30K | 10x | as long as short |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06286 | −0.115% | $2.1M | $3.3M | 50x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06296 | +0.044% | $1.5M | $304K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06293 | −0.004% | $2.6M | $1.9M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06287 | −0.099% | — | $2.8M | — | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06304 | +0.177% | $44K | $23K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06291 | −0.029% | $3K | $1K | 10x | as long as short |
| Backpack PYTH_USDC_PERP | +0.0116% | 1h | 0.06297 | +0.065% | $38K | $87K | 10x | as long as short |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06292 | −0.024% | — | — | 20x | as long as short |
Lighter PYTH
Paradex PYTH-USD-PERP
Hyperliquid PYTH
Aster PYTHUSDT
OKX PYTH-USDT-SWAP
KuCoin PYTHUSDTM
Bitget PYTHUSDT
BingX PYTH-USDT
Variational Omni PYTH
Orderly PERP_PYTH_USDC_mythos
Backpack PYTH_USDC_PERP
Reya PYTHRUSDPERP