Funding arb · Price arb /

PYTH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: Orderly against Aster+0.074%49s7-day average — · you sell dearer than you buy

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

Long on Aster Short on Orderly

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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Orderly is 0.074% dearer against Aster than usual: you sell high and buy low, +$7 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 49 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	Aster PYTHUSDT	0.06282	0.0100	pay 0.0050% / 4h	1h 24m	$25K	$40K	10x
Short	Orderly PERP_PYTH_USDC_mythos	0.06287	0.0100	get 0.0050% / 4h	1h 24m	$3K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.074%Rate

Funding earned: $0
Price spread: +0.074% → 0.000%: $7.38
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$6.62
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Aster: no order-book sample; Orderly: 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 Aster no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Aster and Orderly: 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	−0.348%	$553	$220K	5.5x	as long as short
Kraken Futures PF_PYTHUSD	−0.0208%	1h	0.06288	+0.099%	$382K	$252K	25x	as long as short
BloFin PYTH-USDT	−0.0094%	4h	0.06276	−0.093%	$420K	$114K	75x	as long as short
Bybit PYTHUSDT	−0.0052%	4h	0.06289	+0.114%	$7.4M	$5.1M	50x	as long as short
Binance PYTHUSDT	−0.0047%	4h	0.06287	+0.088%	$9.1M	$17.1M	75x	as long as short
Gate PYTH_USDT	−0.0042%	4h	0.06281	−0.014%	$1.1M	$479K	75x	as long as short
MEXC PYTH_USDT	−0.0042%	4h	0.06289	+0.114%	$9.2M	$2.3M	125x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06289	+0.115%	$187K	$19	5x	as long as short
Deribit PYTH_USDC-PERPETUAL	0.0000%	1h	0.06292	+0.161%	$10K	$10K	10x	as long as short
Aevo PYTH-PERP	+0.0072%	1h	0.06285	+0.055%	$22K	—	3x	as long as short

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	+2.374%	$40K	$6K	25x	as long as short
Lighter PYTH	+0.0096%	1h	0.06296	+0.225%	$196K	$210K	5x	as long as short
Paradex PYTH-USD-PERP	+0.0099%	8h	0.06286	+0.065%	$3K	$56	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06293	+0.177%	$1.7M	$1.5M	5x	as long as short
Aster PYTHUSDTlong	+0.0100%	4h	0.06282	long leg	$25K	$40K	10x
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06285	+0.050%	$2.1M	$3.4M	50x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06287	+0.082%	$1.5M	$314K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06290	+0.130%	$2.6M	$2.0M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06287	+0.082%	—	$2.8M	—	as long as short
Backpack PYTH_USDC_PERP	+0.0100%	1h	0.06292	+0.166%	$38K	$88K	10x	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06277	−0.082%	$44K	$22K	—	as long as short
Orderly PERP_PYTH_USDC_mythosshort	+0.0100%	4h	0.06287	+0.074%	$3K	$1K	10x
Reya PYTHRUSDPERP	+0.0302%	1h	0.06282	+0.001%	—	—	20x	as long as short