Funding arb · Price arb /

PYTH

all PYTH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0114%/8h= −12.5% APRpaid last 24h −0.012%

Price spread now: Gate against Aevo+0.027%7-day average — · you sell dearer than you buy

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

Long on Aevo Short on Gate

What this pair did over the last

the charts below follow

Funding, last 5 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

The price spread pays, funding is against you. Gate is 0.027% dearer against Aevo than usual: you sell high and buy low (spread +0.027% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 19 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo PYTH-PERP	0.06279	0.0072	pay 0.0009% / 1h	24m 24s	$22K	—	3x
Short	Gate PYTH_USDT	0.06281	−0.0042	pay 0.0021% / 4h	1h 24m	$1.1M	$479K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Aevo. 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 AevobpFee GatebpOrdersPrice spread, now +0.027%Rate

Funding earned: −$23.94
Price spread: +0.027% → 0.000%: $2.71
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$52.23
Costs to cover: 0.310%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Gate: live order book, 3 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 Aevo no order-book sample	—	—	—	—	—
Sell Gate live order book, 3 min ago	3.19 bp	28.7 bp −$29	doesn't fit	doesn't fit	doesn't fit

Aevo: 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 PERP	−0.0428%	1h	0.06260	−0.307%	$553	$220K	5.5x	as long as short
Kraken Futures PF_PYTHUSD	−0.0208%	1h	0.06288	+0.140%	$382K	$252K	25x	as long as short
BloFin PYTH-USDT	−0.0094%	4h	0.06276	−0.053%	$420K	$114K	75x	as long as short
Bybit PYTHUSDT	−0.0052%	4h	0.06283	+0.059%	$7.4M	$5.1M	50x	as long as short
Binance PYTHUSDT	−0.0047%	4h	0.06283	+0.054%	$9.0M	$17.1M	75x	as long as short
Gate PYTH_USDTshort	−0.0042%	4h	0.06281	+0.027%	$1.1M	$479K	75x
MEXC PYTH_USDT	−0.0042%	4h	0.06284	+0.075%	$9.2M	$2.3M	125x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06289	+0.156%	$187K	$19	5x	as long as short
Deribit PYTH_USDC-PERPETUAL	0.0000%	1h	0.06292	+0.202%	$10K	$10K	10x	as long as short
Aevo PYTH-PERPlong	+0.0072%	1h	0.06279	long leg	$22K	—	3x

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	+2.416%	$40K	$6K	25x	as long as short
Lighter PYTH	+0.0096%	1h	0.06296	+0.266%	$196K	$210K	5x	as long as short
Paradex PYTH-USD-PERP	+0.0099%	8h	0.06286	+0.106%	$3K	$56	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06287	+0.123%	$1.7M	$1.5M	5x	as long as short
Aster PYTHUSDT	+0.0100%	4h	0.06283	+0.060%	$25K	$40K	10x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06280	+0.011%	$2.1M	$3.4M	50x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06289	+0.154%	$1.5M	$314K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06287	+0.123%	$2.6M	$2.0M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06282	+0.043%	—	$2.8M	—	as long as short
Backpack PYTH_USDC_PERP	+0.0100%	1h	0.06292	+0.207%	$38K	$88K	10x	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06277	−0.041%	$44K	$22K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06285	+0.088%	$3K	$1K	10x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06281	+0.026%	—	—	20x	as long as short