Funding you earn now, next payment 00:00 UTC−0.0509%/8h= −55.8% APRpaid last 24h +0.005%
Price spread now: KuCoin against Backpack+0.074%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−0.162%−$16 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. KuCoin is 0.074% dearer against Backpack than usual: you sell high and buy low (spread +0.074% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 12 hours. At the pace of the last 7 days (−0.162% in total) that is about 3.2 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.162% in total (about -8.4% 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 | Backpack PYTH_USDC_PERP | 0.06363 | 0.0609 | pay 0.0076% / 1h | 51m 53s | $36K | $89K | 10x |
| Short | KuCoin PYTHUSDTM | 0.06368 | 0.0100 | get 0.0050% / 4h | 51m 53s | $1.5M | $316K | 50x |
Backpack PYTH_USDC_PERP
KuCoin PYTHUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin against Backpack. 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
- −$106.99
- Price spread: +0.074% → 0.000%
- $7.39
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$121.6
- Costs to cover
- 0.220%
- Break-even
- never at this rate
Slippage unknown: Backpack: no order-book sample; KuCoin: live order book, 4 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 Backpack no order-book sample | — | — | — | — | — |
| Sell KuCoin live order book, 4 min ago | 11.02 bp | 72.2 bp −$72 | 707.5 bp −$7,075 | 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: 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_PYTHUSD | −0.0397% | 1h | 0.06358 | −0.078% | $378K | $264K | 25x | as long as short |
| MEXC PYTH_USDT | −0.0082% | 4h | 0.06356 | −0.115% | $9.6M | $2.3M | 125x | as long as short |
| Binance PYTHUSDT | −0.0078% | 4h | 0.06357 | −0.099% | $9.1M | $17.1M | 75x | as long as short |
| BloFin PYTH-USDT | −0.0045% | 4h | 0.06367 | +0.058% | $421K | $116K | 75x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06374 | +0.170% | $189K | $19 | 5x | as long as short |
| Deribit PYTH_USDC-PERPETUAL | 0.0000% | 1h | 0.06361 | −0.036% | $10K | $10K | 10x | as long as short |
| Gate PYTH_USDT | +0.0008% | 4h | 0.06359 | −0.068% | $1.1M | $474K | 75x | as long as short |
| Bybit PYTHUSDT | +0.0019% | 4h | 0.06360 | −0.052% | $7.5M | $4.8M | 50x | as long as short |
| Injective PYTH/USDC PERP | +0.0033% | 1h | 0.06260 | −1.623% | $553 | $220K | 5.5x | as long as short |
| Aevo PYTH-PERP | +0.0056% | 1h | 0.06355 | −0.130% | $23K | — | 3x | as long as short |
Kraken Futures PF_PYTHUSD
MEXC PYTH_USDT
Binance PYTHUSDT
BloFin PYTH-USDT
dYdX PYTH-USD
Deribit PYTH_USDC-PERPETUAL
Gate PYTH_USDT
Bybit PYTHUSDT
Injective PYTH/USDC PERP
Aevo PYTH-PERPShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster PYTHUSDT | +0.0074% | 4h | 0.06358 | −0.084% | $22K | $44K | 10x | as long as short |
| Lighter PYTH | +0.0096% | 1h | 0.06368 | +0.074% | $201K | $217K | 5x | as long as short |
| Paradex PYTH-USD-PERP | +0.0099% | 8h | 0.06360 | −0.049% | $3K | $56 | 10x | as long as short |
| Hyperliquid PYTH | +0.0100% | 1h | 0.06365 | +0.028% | $1.7M | $1.5M | 5x | as long as short |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06358 | −0.083% | $2.1M | $3.4M | 50x | as long as short |
| KuCoin PYTHUSDTMshort | +0.0100% | 4h | 0.06368 | +0.074% | $1.5M | $316K | 50x | |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06358 | −0.083% | $2.6M | $2.0M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06359 | −0.068% | — | $2.8M | — | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06347 | −0.254% | $44K | $22K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06359 | −0.074% | $3K | $1K | 10x | as long as short |
| Coinbase International PYTH-PERP-INTX | +0.0176% | 1h | 0.06328 | −0.555% | $39K | $6K | 25x | as long as short |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06356 | −0.120% | — | — | 20x | as long as short |
| Backpack PYTH_USDC_PERPlong | +0.0609% | 1h | 0.06363 | long leg | $36K | $89K | 10x |
Aster PYTHUSDT
Lighter PYTH
Paradex PYTH-USD-PERP
Hyperliquid PYTH
OKX PYTH-USDT-SWAP
Bitget PYTHUSDT
BingX PYTH-USDT
Variational Omni PYTH
Orderly PERP_PYTH_USDC_mythos
Coinbase International PYTH-PERP-INTX
Reya PYTHRUSDPERP