Funding arb · Price arb /

PYTH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h +0.002%

Price spread now: Variational Omni against Aevo−0.480%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 Variational Omni

What this pair did over the last

the charts below follow

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—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Variational Omni is 0.480% cheaper against Aevo than usual: you would sell low and buy high (spread −0.480% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$48 on $10k: about 36 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo PYTH-PERP	0.06320	0.0056	pay 0.0007% / 1h	1m 46s	$23K	—	3x
Short	Variational Omni PYTH	0.06290	0.0100	get 0.0050% / 4h	1h 01m	$44K	$22K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.480%Rate

Funding earned: $9.24
Price spread: −0.480% → 0.000%: −$48.02
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$54.78
Costs to cover: 0.160%
Break-even: 48.5 days

Slippage unknown: Aevo: no order-book sample; Variational Omni: 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 Aevo no order-book sample	—	—	—	—	—
Sell Variational Omni no order-book sample	—	—	—	—	—

Aevo and Variational Omni: 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	−0.949%	$553	$220K	5.5x	as long as short
Kraken Futures PF_PYTHUSD	−0.0207%	1h	0.06326	+0.098%	$380K	$261K	25x	as long as short
BloFin PYTH-USDT	−0.0139%	4h	0.06294	−0.411%	$420K	$115K	75x	as long as short
Binance PYTHUSDT	−0.0101%	4h	0.06316	−0.069%	$9.1M	$17.1M	75x	as long as short
MEXC PYTH_USDT	−0.0100%	4h	0.06315	−0.079%	$9.5M	$2.4M	125x	as long as short
Gate PYTH_USDT	−0.0020%	4h	0.06316	−0.063%	$1.1M	$483K	75x	as long as short
Bybit PYTHUSDT	−0.0012%	4h	0.06319	−0.016%	$7.5M	$4.7M	50x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06326	+0.097%	$188K	$19	5x	as long as short
Deribit PYTH_USDC-PERPETUAL	0.0000%	1h	0.06331	+0.174%	$10K	$10K	10x	as long as short
Aevo PYTH-PERPlong	+0.0056%	1h	0.06320	long leg	$23K	—	3x

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PYTHUSDT	+0.0059%	4h	0.06317	−0.044%	$25K	$40K	10x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0080%	1h	0.06327	+0.111%	$39K	$6K	25x	as long as short
Lighter PYTH	+0.0096%	1h	0.06325	+0.079%	$201K	$216K	5x	as long as short
Paradex PYTH-USD-PERP	+0.0100%	8h	0.06313	−0.107%	$3K	$56	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06321	+0.021%	$1.7M	$1.5M	5x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06319	−0.016%	$2.1M	$3.3M	50x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06324	+0.063%	$1.5M	$309K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06316	−0.063%	$2.6M	$2.0M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06321	+0.016%	—	$2.8M	—	as long as short
Backpack PYTH_USDC_PERP	+0.0100%	1h	0.06325	+0.076%	$36K	$89K	10x	as long as short
Variational Omni PYTHshort	+0.0100%	4h	0.06290	−0.480%	$44K	$22K	—
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06306	−0.225%	$3K	$1K	10x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06306	−0.215%	—	—	20x	as long as short