Funding you earn now, next payment 06:00 UTC−0.0407%/8h= −44.6% APRpaid last 24h 0.000%
Price spread now: Backpack against KuCoin+0.128%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.172%+$17 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
The price spread pays, funding is against you. Backpack is 0.128% dearer against KuCoin than usual: you sell high and buy low (spread +0.128% now, against zero (this spread has no 7-day history yet)): +$13 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 25 hours. Mind the row above: over the last 7 days funding on this pair paid +0.172%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.172% in total (about 9.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin PYTHUSDTM | 0.06342 | 0.0100 | pay 0.0050% / 4h | 2h 54m | $1.5M | $348K | 50x |
| Short | Backpack PYTH_USDC_PERP | 0.06350 | −0.0307 | pay 0.0038% / 1h | 54m 19s | $38K | $63K | 10x |
KuCoin PYTHUSDTM
Backpack PYTH_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against KuCoin. 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
- −$85.56
- Price spread: +0.128% → 0.000%
- $12.77
- Slippage, 4 orders
- no order book: not counted
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$94.79
- Costs to cover
- 0.220%
- Break-even
- never at this rate
Slippage unknown: KuCoin: live order book, 6 min ago; Backpack: no order-book sample. 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 KuCoin live order book, 6 min ago | 7.91 bp | 163.2 bp −$163 | 908.7 bp −$9,087 | doesn't fit | doesn't fit |
| Sell Backpack no order-book sample | — | — | — | — | — |
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: 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 | −0.0381% | 1h | 0.06337 | −0.079% | $10K | $10K | 10x | as long as short |
| Backpack PYTH_USDC_PERPshort | −0.0307% | 1h | 0.06350 | +0.128% | $38K | $63K | 10x | |
| Gate PYTH_USDT | −0.0062% | 4h | 0.06329 | −0.205% | $1.0M | $518K | 75x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06348 | +0.092% | $188K | $19 | 5x | as long as short |
| Injective PYTH/USDC PERP | +0.0033% | 1h | 0.06260 | −1.293% | $553 | $220K | 5.5x | as long as short |
| MEXC PYTH_USDT | +0.0048% | 4h | 0.06329 | −0.205% | $10.6M | $2.6M | 125x | as long as short |
| Binance PYTHUSDT | +0.0050% | 4h | 0.06328 | −0.221% | $9.0M | $18.5M | 75x | as long as short |
| BloFin PYTH-USDT | +0.0085% | 4h | 0.06348 | +0.095% | $429K | $77K | 75x | as long as short |
| Lighter PYTH | +0.0096% | 1h | 0.06343 | +0.016% | $194K | $206K | 5x | as long as short |
| Aevo PYTH-PERP | +0.0096% | 1h | 0.06331 | −0.181% | $23K | — | 3x | as long as short |
Deribit PYTH_USDC-PERPETUAL
Gate PYTH_USDT
dYdX PYTH-USD
Injective PYTH/USDC PERP
MEXC PYTH_USDT
Binance PYTHUSDT
BloFin PYTH-USDT
Lighter PYTH
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 | 0.06330 | −0.192% | $3K | — | 10x | as long as short |
| Hyperliquid PYTH | +0.0100% | 1h | 0.06341 | −0.022% | $2.3M | $1.8M | 5x | as long as short |
| Aster PYTHUSDT | +0.0100% | 4h | 0.06339 | −0.041% | $20K | $45K | 10x | as long as short |
| Bybit PYTHUSDT | +0.0100% | 4h | 0.06330 | −0.189% | $7.4M | $4.8M | 50x | as long as short |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06328 | −0.221% | $2.1M | $3.5M | 50x | as long as short |
| KuCoin PYTHUSDTMlong | +0.0100% | 4h | 0.06342 | long leg | $1.5M | $348K | 50x | |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06330 | −0.189% | $2.7M | $2.2M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06334 | −0.126% | — | $2.8M | — | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06348 | +0.101% | $38K | $25K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06332 | −0.155% | $2K | $2K | 10x | as long as short |
| Kraken Futures PF_PYTHUSD | +0.0235% | 1h | 0.06348 | +0.092% | $387K | $302K | 25x | as long as short |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06328 | −0.213% | — | — | 20x | as long as short |
| Coinbase International PYTH-PERP-INTX | +0.0312% | 1h | 0.06493 | +2.381% | $40K | $19K | 25x | as long as short |
Paradex PYTH-USD-PERP
Hyperliquid PYTH
Aster PYTHUSDT
Bybit PYTHUSDT
OKX PYTH-USDT-SWAP
Bitget PYTHUSDT
BingX PYTH-USDT
Variational Omni PYTH
Orderly PERP_PYTH_USDC_mythos
Kraken Futures PF_PYTHUSD
Reya PYTHRUSDPERP
Coinbase International PYTH-PERP-INTX