PYTH

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0208%/8h= −22.8% APRnext payment −$0.26 per $10,000 · paid last 24h +0.075%

Price spread now: Kraken Futures against dYdX−0.070%7-day average +0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$189as in the Funding arb table

Net, price: spread back to 7d avg − costs−$266as in the Price arb table

costs, in and out, $10k−$2542.544% of the position

Long on dYdX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.658%+$66 on $10k

Price spread, last 3 days (all we have)+0.045%+$4 · spread now −0.070%, 7d avg +0.046%

Together, before fees+0.703%+$70 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Kraken Futures is 0.116% cheaper against dYdX than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.046%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.658%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX PYTH-USD	0.06289	0	get 0.0000% / 1h	16m 01s	$187K	$19	5x
Short	Kraken Futures PF_PYTHUSD	0.06285	−0.0208	pay 0.0026% / 1h	16m 01s	$382K	$248K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against dYdX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee dYdXbpFee Kraken FuturesbpOrdersPrice spread, now −0.070%Rate

Funding earned: −$43.73
Price spread: −0.070% → +0.046%: −$11.55
Slippage, 4 orders: −$234.38
Fee dYdX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$309.66
Costs to cover: 2.544%
Break-even: never at this rate

Slippage from dYdX: live order book, 3 min ago; Kraken Futures: live order book, 2 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 dYdX live order book, 3 min ago	91.50 bp	96.5 bp −$96	137.9 bp −$1,379	173.1 bp −$17.3K	534.5 bp −$267.2K
Sell Kraken Futures live order book, 2 min ago	9.55 bp	36.1 bp −$36	167.9 bp −$1,679	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	−0.0428%	1h	0.06260	−0.463%	$553	$220K	5.5x	as long as short
Kraken Futures PF_PYTHUSDshort	−0.0208%	1h	0.06285	−0.070%	$382K	$248K	25x
Binance PYTHUSDT	−0.0070%	4h	0.06280	−0.148%	$9.0M	$17.1M	75x	as long as short
Deribit PYTH_USDC-PERPETUAL	−0.0068%	1h	0.06290	+0.014%	$10K	$10K	10x	as long as short
Bybit PYTHUSDT	−0.0064%	4h	0.06283	−0.097%	$7.4M	$4.8M	50x	as long as short
MEXC PYTH_USDT	−0.0060%	4h	0.06283	−0.097%	$9.1M	$2.3M	125x	as long as short
Gate PYTH_USDT	−0.0034%	4h	0.06275	−0.225%	$1.1M	$480K	75x	as long as short
BloFin PYTH-USDT	−0.0025%	4h	0.06276	−0.209%	$419K	$114K	75x	as long as short
dYdX PYTH-USDlong	0.0000%	1h	0.06289	long leg	$187K	$19	5x
Aevo PYTH-PERP	+0.0064%	1h	0.06284	−0.089%	$22K	—	3x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International PYTH-PERP-INTX	+0.0080%	1h	0.06431	+2.256%	$40K	$6K	25x	as long as short
Aster PYTHUSDT	+0.0083%	4h	0.06281	−0.129%	$25K	$40K	10x	as long as short
Lighter PYTH	+0.0096%	1h	0.06290	+0.014%	$196K	$210K	5x	as long as short
Paradex PYTH-USD-PERP	+0.0099%	8h	0.06274	−0.237%	$3K	$56	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06285	−0.058%	$1.7M	$1.5M	5x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06285	−0.066%	$2.1M	$3.3M	50x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06285	−0.066%	$1.5M	$314K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06284	−0.081%	$2.6M	$2.0M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06281	−0.129%	—	$2.8M	—	as long as short
Backpack PYTH_USDC_PERP	+0.0100%	1h	0.06288	−0.011%	$38K	$87K	10x	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06291	+0.033%	$44K	$22K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06285	−0.070%	$3K	$1K	10x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06282	−0.106%	—	—	20x	as long as short