Funding you earn now, next payment 02:00 UTC−0.0343%/8h= −37.5% APRnext payment −$0.43 per $10,000 · paid last 24h −0.074%
Price spread now: Injective against Kraken Futures−1.770%63s7-day average −0.336% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.673%−$67 on $10k
+Price spread, last 3 days (all we have)+1.548%+$155 · spread now −1.770%, 7d avg −0.336%
=Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Injective is 1.434% cheaper against Kraken Futures than usual: you would sell low and buy high (−$143 if the spread goes back to its 7-day average of −0.336%). Swap the legs. 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 | Kraken Futures PF_PYTHUSD | 0.06373 | 0.0376 | pay 0.0047% / 1h | 21m 32s | $390K | $291K | 25x |
| Short | Injective PYTH/USDC PERP | 0.06260 | 0.0033 | get 0.0004% / 1h | 21m 32s | $553 | $220K | 5.5x |
Kraken Futures PF_PYTHUSD
Injective PYTH/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- −$71.97
- Price spread: −1.770% → −0.336%
- −$143.4
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$225.39
- Costs to cover
- 0.100%
- Break-even
- never at this rate
Slippage unknown: Kraken Futures: live order book, 46 min ago; Injective: 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, 46 min ago | 20.08 bp | 48.1 bp −$48 | doesn't fit | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
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 22 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 | |
|---|---|---|---|---|---|---|---|---|
| MEXC PYTH_USDT | −0.0082% | 4h | 0.06358 | −0.233% | $9.6M | $2.4M | 125x | as long as short |
| Binance PYTHUSDT | −0.0080% | 4h | 0.06361 | −0.186% | $9.1M | $17.8M | 75x | as long as short |
| Coinbase International PYTH-PERP-INTX | −0.0064% | 1h | 0.06418 | +0.709% | $40K | $18K | 25x | as long as short |
| Gate PYTH_USDT | −0.0054% | 4h | 0.06370 | −0.044% | $1.1M | $499K | 75x | as long as short |
| Aster PYTHUSDT | −0.0012% | 4h | 0.06364 | −0.140% | $20K | $46K | 10x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06374 | +0.016% | $189K | $19 | 5x | as long as short |
| Injective PYTH/USDC PERPshort | +0.0033% | 1h | 0.06260 | −1.770% | $553 | $220K | 5.5x | |
| Aevo PYTH-PERP | +0.0064% | 1h | 0.06370 | −0.041% | $23K | — | 3x | as long as short |
| Lighter PYTH | +0.0096% | 1h | 0.06370 | −0.044% | $191K | $206K | 5x | as long as short |
| Paradex PYTH-USD-PERP | +0.0100% | 8h | 0.06355 | −0.278% | $3K | — | 10x | as long as short |
MEXC PYTH_USDT
Binance PYTHUSDT
Coinbase International PYTH-PERP-INTX
Gate PYTH_USDT
Aster PYTHUSDT
dYdX PYTH-USD
Aevo PYTH-PERP
Lighter PYTH
Paradex PYTH-USD-PERPShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid PYTH | +0.0100% | 1h | 0.06367 | −0.087% | $2.0M | $1.7M | 5x | as long as short |
| Bybit PYTHUSDT | +0.0100% | 4h | 0.06363 | −0.154% | $7.6M | $4.9M | 50x | as long as short |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06364 | −0.138% | $2.1M | $3.4M | 50x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06368 | −0.076% | $1.5M | $341K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06361 | −0.186% | $2.7M | $2.2M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06362 | −0.170% | — | $2.8M | — | as long as short |
| Backpack PYTH_USDC_PERP | +0.0100% | 1h | 0.06374 | +0.018% | $39K | $93K | 10x | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06387 | +0.222% | $39K | $27K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06372 | −0.016% | $3K | $2K | 10x | as long as short |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06370 | −0.041% | — | — | 20x | as long as short |
| Kraken Futures PF_PYTHUSDlong | +0.0376% | 1h | 0.06373 | long leg | $390K | $291K | 25x | |
| Deribit PYTH_USDC-PERPETUAL | +0.0534% | 1h | 0.06386 | +0.207% | $10K | $10K | 10x | as long as short |
Hyperliquid PYTH
Bybit PYTHUSDT
OKX PYTH-USDT-SWAP
KuCoin PYTHUSDTM
Bitget PYTHUSDT
BingX PYTH-USDT
Backpack PYTH_USDC_PERP
Variational Omni PYTH
Orderly PERP_PYTH_USDC_mythos
Reya PYTHRUSDPERP
Deribit PYTH_USDC-PERPETUAL