PYTH

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0369%/8h= +40.4% APRnext payment +$0.46 per $10,000 · paid last 24h +0.098%

Price spread now: Kraken Futures against Injective−0.894%63s7-day average +0.284% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.656%+$66 on $10k

Price spread, last 3 days (all we have)+1.157%+$116 · spread now −0.894%, 7d avg +0.284%

Together, before fees+1.813%+$181 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 1.178% cheaper against Injective than usual: you would sell low and buy high (spread −0.894% now, against its 7-day average of +0.284%). If the spread goes back, that is −$118 on $10k: about 11 days of funding at the current rate (+$11 a day). The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective PYTH/USDC PERP	0.06350	−0.0586	get 0.0073% / 1h	10m 12s	$561	$180K	5.5x
Short	Kraken Futures PF_PYTHUSD	0.06293	−0.0218	pay 0.0027% / 1h	10m 12s	$381K	$240K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

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

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpFee Kraken FuturesbpOrdersPrice spread, now −0.894%Rate

Funding earned: $77.42
Price spread: −0.894% → +0.284%: −$117.8
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$50.4
Costs to cover: 0.100%
Break-even: 11.6 days

Slippage unknown: Injective: no order-book sample; Kraken Futures: live order book, 13 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 Injective no order-book sample	—	—	—	—	—
Sell Kraken Futures live order book, 13 min ago	22.07 bp	29.5 bp −$29	161.5 bp −$1,615	doesn't fit	doesn't fit

Injective: 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
Injective PYTH/USDC PERPlong	−0.0586%	1h	0.06350	long leg	$561	$180K	5.5x
Deribit PYTH_USDC-PERPETUAL	−0.0226%	1h	0.06299	−0.803%	$10K	$10K	10x	as long as short
Kraken Futures PF_PYTHUSDshort	−0.0218%	1h	0.06293	−0.894%	$381K	$240K	25x
Gate PYTH_USDT	−0.0062%	4h	0.06281	−1.087%	$1.1M	$467K	75x	as long as short
BloFin PYTH-USDT	−0.0029%	4h	0.06302	−0.756%	$423K	$115K	75x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06298	−0.826%	$187K	$19	5x	as long as short
Binance PYTHUSDT	+0.0012%	4h	0.06289	−0.961%	$9.1M	$16.1M	75x	as long as short
MEXC PYTH_USDT	+0.0014%	4h	0.06290	−0.945%	$9.3M	$2.4M	125x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0048%	1h	0.06431	+1.276%	$40K	$6K	25x	as long as short
Aevo PYTH-PERP	+0.0080%	1h	0.06290	−0.945%	$22K	—	3x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit PYTHUSDT	+0.0087%	4h	0.06293	−0.898%	$7.4M	$5.0M	50x	as long as short
Lighter PYTH	+0.0096%	1h	0.06300	−0.787%	$195K	$206K	5x	as long as short
Paradex PYTH-USD-PERP	+0.0099%	8h	0.06286	−1.007%	$3K	$56	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06295	−0.871%	$1.7M	$1.5M	5x	as long as short
Aster PYTHUSDT	+0.0100%	4h	0.06289	−0.961%	$19K	$30K	10x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06291	−0.929%	$2.1M	$3.3M	50x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06299	−0.803%	$1.5M	$304K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06293	−0.898%	$2.6M	$1.9M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06292	−0.913%	—	$2.8M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06304	−0.719%	$44K	$23K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06291	−0.923%	$3K	$1K	10x	as long as short
Backpack PYTH_USDC_PERP	+0.0116%	1h	0.06297	−0.830%	$38K	$87K	10x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06292	−0.918%	—	—	20x	as long as short