Funding arb · Price arb /

PYTH

all PYTH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0014%/8h= −1.5% APRpaid last 24h −0.020%

Price spread now: dYdX against Aster−0.062%7-day average — · you buy dearer than you sell

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

Long on Aster Short on dYdX

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—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and dYdX is 0.062% cheaper against Aster than usual: you would sell low and buy high (−$6 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	Aster PYTHUSDT	0.06377	0.0014	pay 0.0007% / 4h	1h 20m	$20K	$46K	10x
Short	dYdX PYTH-USD	0.06373	0	get 0.0000% / 1h	20m 25s	$189K	$19	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Aster. 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 AsterbpFee dYdXbpOrdersPrice spread, now −0.062%Rate

Funding earned: −$2.86
Price spread: −0.062% → 0.000%: −$6.19
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$27.04
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Aster: no order-book sample; dYdX: live order book, 44 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 Aster no order-book sample	—	—	—	—	—
Sell dYdX live order book, 44 min ago	38.40 bp	49.6 bp −$50	122.0 bp −$1,220	163.4 bp −$16.3K	453.8 bp −$226.9K

Aster: 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	−0.0380%	1h	0.06376	−0.006%	$39K	$50K	10x	as long as short
Gate PYTH_USDT	−0.0212%	4h	0.06364	−0.199%	$1.0M	$503K	75x	as long as short
BloFin PYTH-USDT	−0.0013%	4h	0.06371	−0.089%	$353K	$87K	75x	as long as short
Binance PYTHUSDT	−0.0005%	4h	0.06362	−0.230%	$9.1M	$17.8M	75x	as long as short
MEXC PYTH_USDT	−0.0004%	4h	0.06360	−0.261%	$9.5M	$2.5M	125x	as long as short
dYdX PYTH-USDshort	0.0000%	1h	0.06373	−0.062%	$189K	$19	5x
Aster PYTHUSDTlong	+0.0014%	4h	0.06377	long leg	$20K	$46K	10x
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−1.830%	$553	$220K	5.5x	as long as short
Aevo PYTH-PERP	+0.0080%	1h	0.06371	−0.084%	$23K	—	3x	as long as short
Lighter PYTH	+0.0096%	1h	0.06375	−0.026%	$191K	$204K	5x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex PYTH-USD-PERP	+0.0100%	8h	0.06357	−0.313%	$3K	—	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06369	−0.119%	$2.0M	$1.7M	5x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	0.06366	−0.167%	$7.5M	$4.6M	50x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06365	−0.183%	$2.1M	$3.4M	50x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06369	−0.120%	$1.5M	$342K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06361	−0.246%	$2.7M	$2.1M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06365	−0.183%	—	$2.7M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06367	−0.154%	$38K	$25K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06374	−0.048%	$3K	$2K	10x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0176%	1h	0.06385	+0.131%	$40K	$18K	25x	as long as short
Deribit PYTH_USDC-PERPETUAL	+0.0221%	1h	0.06374	−0.042%	$10K	$10K	10x	as long as short
Kraken Futures PF_PYTHUSD	+0.0300%	1h	0.06375	−0.023%	$389K	$291K	25x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06361	−0.250%	—	—	20x	as long as short