Funding you earn now, next payment 09:00 UTC−0.0377%/8h= −41.3% APRnext payment −$0.47 per $10,000 · paid last 24h −0.024%
Price spread now: Backpack against Kraken Futures+0.010%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−0.282%−$28 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$11 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_PYTHUSD | 0.06356 | 0.0464 | pay 0.0058% / 1h | 15m 32s | $385K | $292K | 25x |
| Short | Backpack PYTH_USDC_PERP | 0.06356 | 0.0086 | get 0.0011% / 1h | 15m 32s | $35K | $53K | 10x |
Kraken Futures PF_PYTHUSD
Backpack PYTH_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack 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
- −$79.24
- Price spread: +0.010% → 0.000%
- $1.02
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$98.23
- Costs to cover
- 0.200%
- Break-even
- never at this rate
Slippage unknown: Kraken Futures: live order book, 17 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 Kraken Futures live order book, 17 min ago | 17.50 bp | 25.6 bp −$26 | 657.1 bp −$6,571 | 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 | 0.0000% | 1h | 0.06352 | −0.056% | $10K | $10K | 10x | as long as short |
| dYdX PYTH-USD | +0.0008% | 1h | 0.06351 | −0.073% | $189K | $13 | 5x | as long as short |
| Injective PYTH/USDC PERP | +0.0033% | 1h | 0.06260 | −1.503% | $553 | $220K | 5.5x | as long as short |
| BloFin PYTH-USDT | +0.0045% | 4h | 0.06338 | −0.276% | $427K | $72K | 75x | as long as short |
| Backpack PYTH_USDC_PERPshort | +0.0086% | 1h | 0.06356 | +0.010% | $35K | $53K | 10x | |
| Lighter PYTH | +0.0096% | 1h | 0.06358 | +0.038% | $196K | $217K | 5x | as long as short |
| MEXC PYTH_USDT | +0.0096% | 4h | 0.06352 | −0.056% | $11.4M | $3.0M | 125x | as long as short |
| Binance PYTHUSDT | +0.0099% | 4h | 0.06348 | −0.127% | $9.1M | $19.5M | 75x | as long as short |
| Paradex PYTH-USD-PERP | +0.0100% | 8h | 0.06350 | −0.080% | $3K | — | 10x | as long as short |
| Hyperliquid PYTH | +0.0100% | 1h | 0.06356 | +0.002% | $2.1M | $2.0M | 5x | as long as short |
Deribit PYTH_USDC-PERPETUAL
dYdX PYTH-USD
Injective PYTH/USDC PERP
BloFin PYTH-USDT
Lighter PYTH
MEXC PYTH_USDT
Binance PYTHUSDT
Paradex PYTH-USD-PERP
Hyperliquid PYTHShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster PYTHUSDT | +0.0100% | 4h | 0.06346 | −0.145% | $19K | $49K | 10x | as long as short |
| Bybit PYTHUSDT | +0.0100% | 4h | 0.06350 | −0.087% | $7.6M | $4.8M | 50x | as long as short |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06347 | −0.135% | $2.1M | $3.5M | 50x | as long as short |
| Gate PYTH_USDT | +0.0100% | 4h | 0.06347 | −0.135% | $1.0M | $512K | 75x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06353 | −0.040% | $1.5M | $369K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06350 | −0.087% | $2.7M | $2.3M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06350 | −0.087% | — | $2.8M | — | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06348 | −0.118% | $40K | $26K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06349 | −0.098% | $2K | $2K | 10x | as long as short |
| Aevo PYTH-PERP | +0.0104% | 1h | 0.06353 | −0.042% | $23K | — | 3x | as long as short |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06332 | −0.373% | — | — | 20x | as long as short |
| Kraken Futures PF_PYTHUSDlong | +0.0464% | 1h | 0.06356 | long leg | $385K | $292K | 25x | |
| Coinbase International PYTH-PERP-INTX | +0.0536% | 1h | 0.06427 | +1.124% | $40K | $19K | 25x | as long as short |
Aster PYTHUSDT
Bybit PYTHUSDT
OKX PYTH-USDT-SWAP
Gate PYTH_USDT
KuCoin PYTHUSDTM
Bitget PYTHUSDT
BingX PYTH-USDT
Variational Omni PYTH
Orderly PERP_PYTH_USDC_mythos
Aevo PYTH-PERP
Reya PYTHRUSDPERP
Coinbase International PYTH-PERP-INTX