Funding arb · Price arb /

PYTH

all PYTH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0052%/8h= +5.7% APRpaid last 24h +0.002%

Price spread now: OKX against Aevo−0.079%7-day average — · you buy dearer than you sell

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

Long on Aevo Short on OKX

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

Funding pays, the price is against you. OKX is 0.079% cheaper against Aevo than usual: you would sell low and buy high (spread −0.079% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 5.1 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo PYTH-PERP	0.06335	0.0048	pay 0.0006% / 1h	31m 48s	$23K	—	3x
Short	OKX PYTH-USDT-SWAP	0.06330	0.0100	get 0.0050% / 4h	31m 48s	$2.1M	$3.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.079%Rate

Funding earned: $10.92
Price spread: −0.079% → 0.000%: −$7.89
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee OKX: 5 bp × 2 orders: −$10
Net: −$22.97
Costs to cover: 0.260%
Break-even: 21.7 days

Slippage unknown: Aevo: no order-book sample; OKX: live order book, just now. 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 OKX live order book, just now	2.37 bp	17.9 bp −$18	106.2 bp −$1,062	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
Kraken Futures PF_PYTHUSD	−0.0398%	1h	0.06335	−0.008%	$377K	$264K	25x	as long as short
Deribit PYTH_USDC-PERPETUAL	−0.0381%	1h	0.06337	+0.032%	$10K	$10K	10x	as long as short
BloFin PYTH-USDT	−0.0173%	4h	0.06322	−0.205%	$422K	$114K	75x	as long as short
Binance PYTHUSDT	−0.0137%	4h	0.06328	−0.110%	$9.0M	$17.2M	75x	as long as short
MEXC PYTH_USDT	−0.0132%	4h	0.06330	−0.079%	$9.5M	$2.4M	125x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06335	−0.001%	$188K	$19	5x	as long as short
Bybit PYTHUSDT	+0.0022%	4h	0.06332	−0.047%	$7.5M	$4.8M	50x	as long as short
Aster PYTHUSDT	+0.0023%	4h	0.06339	+0.060%	$22K	$44K	10x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−1.184%	$553	$220K	5.5x	as long as short
Gate PYTH_USDT	+0.0034%	4h	0.06324	−0.174%	$1.1M	$474K	75x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PYTH-PERPlong	+0.0048%	1h	0.06335	long leg	$23K	—	3x
Lighter PYTH	+0.0096%	1h	0.06338	+0.047%	$200K	$217K	5x	as long as short
Paradex PYTH-USD-PERP	+0.0100%	8h	0.06329	−0.090%	$3K	$56	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06334	−0.017%	$1.7M	$1.5M	5x	as long as short
OKX PYTH-USDT-SWAPshort	+0.0100%	4h	0.06330	−0.079%	$2.1M	$3.4M	50x
KuCoin PYTHUSDTM	+0.0100%	4h	0.06338	+0.047%	$1.5M	$313K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06329	−0.095%	$2.6M	$2.0M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06329	−0.095%	—	$2.8M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06327	−0.122%	$44K	$23K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06331	−0.071%	$3K	$1K	10x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0176%	1h	0.06328	−0.110%	$39K	$6K	25x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06330	−0.071%	—	—	20x	as long as short
Backpack PYTH_USDC_PERP	+0.0520%	1h	0.06338	+0.051%	$36K	$89K	10x	as long as short