Funding you earn now, next payment 04:00 UTC−0.0405%/8h= −44.3% APRnext payment −$0.51 per $10,000 · paid last 24h −0.004%
Price spread now: Deribit against Kraken Futures−0.041%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Deribit is 0.041% cheaper against Kraken Futures than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_PYTHUSD | 0.06473 | 0.0405 | pay 0.0051% / 1h | 24m 25s | $395K | $288K | 25x |
| Short | Deribit PYTH_USDC-PERPETUAL | 0.06470 | 0 | get 0.0000% / 1h | 24m 25s | $10K | $10K | 10x |
Kraken Futures PF_PYTHUSD
Deribit PYTH_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- −$84.95
- Price spread: −0.041% → 0.000%
- −$4.06
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$106.01
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Kraken Futures: live order book, 33 min ago; Deribit: 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, 33 min ago | 21.36 bp | 69.7 bp −$70 | doesn't fit | doesn't fit | doesn't fit |
| Sell Deribit no order-book sample | — | — | — | — | — |
Deribit: 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 | |
|---|---|---|---|---|---|---|---|---|
| Backpack PYTH_USDC_PERP | −0.0157% | 1h | 0.06470 | −0.044% | $38K | $59K | 10x | as long as short |
| Gate PYTH_USDT | −0.0104% | 4h | 0.06458 | −0.226% | $1.1M | $513K | 75x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06465 | −0.121% | $192K | $19 | 5x | as long as short |
| Deribit PYTH_USDC-PERPETUALshort | 0.0000% | 1h | 0.06470 | −0.041% | $10K | $10K | 10x | |
| Injective PYTH/USDC PERP | +0.0033% | 1h | 0.06260 | −3.285% | $553 | $220K | 5.5x | as long as short |
| MEXC PYTH_USDT | +0.0060% | 4h | 0.06462 | −0.164% | $10.5M | $2.7M | 125x | as long as short |
| Binance PYTHUSDT | +0.0064% | 4h | 0.06461 | −0.175% | $9.3M | $18.2M | 75x | as long as short |
| Aster PYTHUSDT | +0.0069% | 4h | 0.06458 | −0.224% | $21K | $44K | 10x | as long as short |
| Lighter PYTH | +0.0096% | 1h | 0.06465 | −0.118% | $194K | $209K | 5x | as long as short |
| Aevo PYTH-PERP | +0.0096% | 1h | 0.06463 | −0.152% | $23K | — | 3x | as long as short |
Backpack PYTH_USDC_PERP
Gate PYTH_USDT
dYdX PYTH-USD
Injective PYTH/USDC PERP
MEXC PYTH_USDT
Binance PYTHUSDT
Aster PYTHUSDT
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 | 0.06455 | −0.279% | $3K | — | 10x | as long as short |
| Hyperliquid PYTH | +0.0100% | 1h | 0.06476 | +0.047% | $2.3M | $1.8M | 5x | as long as short |
| Bybit PYTHUSDT | +0.0100% | 4h | 0.06466 | −0.102% | $7.7M | $4.8M | 50x | as long as short |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06460 | −0.195% | $2.1M | $3.5M | 50x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06470 | −0.041% | $1.6M | $350K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06466 | −0.102% | $2.8M | $2.2M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06462 | −0.164% | — | $2.7M | — | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06443 | −0.461% | $39K | $25K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06463 | −0.146% | $2K | $2K | 10x | as long as short |
| Coinbase International PYTH-PERP-INTX | +0.0104% | 1h | 0.06476 | +0.052% | $40K | $19K | 25x | as long as short |
| BloFin PYTH-USDT | +0.0117% | 4h | 0.06447 | −0.396% | $426K | $81K | 75x | as long as short |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06464 | −0.134% | — | — | 20x | as long as short |
| Kraken Futures PF_PYTHUSDlong | +0.0405% | 1h | 0.06473 | long leg | $395K | $288K | 25x |
Paradex PYTH-USD-PERP
Hyperliquid PYTH
Bybit PYTHUSDT
OKX PYTH-USDT-SWAP
KuCoin PYTHUSDTM
Bitget PYTHUSDT
BingX PYTH-USDT
Variational Omni PYTH
Orderly PERP_PYTH_USDC_mythos
Coinbase International PYTH-PERP-INTX
BloFin PYTH-USDT
Reya PYTHRUSDPERP