Funding arb · Price arb /

PYTH

all PYTH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0052%/8h= +5.7% APRpaid last 24h +0.017%

Price spread now: Aster against Coinbase International−1.393%7-day average — · you buy dearer than you sell

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

Long on Coinbase International Short on Aster

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 pays, the price is against you. Aster is 1.393% cheaper against Coinbase International than usual: you would sell low and buy high (spread −1.393% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$139 on $10k: about 3 months of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International PYTH-PERP-INTX	0.06431	0.0048	pay 0.0006% / 1h	18m 47s	$40K	$6K	25x
Short	Aster PYTHUSDT	0.06341	0.0100	get 0.0050% / 4h	2h 18m	$20K	$24K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Coinbase International. 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 Coinbase InternationalbpFee AsterbpOrdersPrice spread, now −1.393%Rate

Funding earned: $10.92
Price spread: −1.393% → 0.000%: −$139.25
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$146.33
Costs to cover: 0.180%
Break-even: 100.8 days

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

Coinbase International and 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
Injective PYTH/USDC PERP	−0.0586%	1h	0.06350	−1.260%	$561	$180K	5.5x	as long as short
Kraken Futures PF_PYTHUSD	−0.0216%	1h	0.06351	−1.252%	$384K	$240K	25x	as long as short
Deribit PYTH_USDC-PERPETUAL	−0.0065%	1h	0.06350	−1.260%	$10K	$10K	10x	as long as short
Gate PYTH_USDT	−0.0024%	4h	0.06350	−1.260%	$1.1M	$466K	75x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06351	−1.250%	$189K	$19	5x	as long as short
MEXC PYTH_USDT	+0.0016%	4h	0.06342	−1.384%	$9.4M	$2.4M	125x	as long as short
Binance PYTHUSDT	+0.0017%	4h	0.06340	−1.410%	$9.1M	$15.9M	75x	as long as short
BloFin PYTH-USDT	+0.0022%	4h	0.06339	−1.431%	$423K	$117K	75x	as long as short
Coinbase International PYTH-PERP-INTXlong	+0.0048%	1h	0.06431	long leg	$40K	$6K	25x
Aevo PYTH-PERP	+0.0088%	1h	0.06342	−1.387%	$23K	—	3x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter PYTH	+0.0096%	1h	0.06354	−1.197%	$197K	$206K	5x	as long as short
Paradex PYTH-USD-PERP	+0.0099%	8h	0.06344	−1.350%	$3K	$56	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06347	−1.308%	$1.7M	$1.5M	5x	as long as short
Aster PYTHUSDTshort	+0.0100%	4h	0.06341	−1.393%	$20K	$24K	10x
Bybit PYTHUSDT	+0.0100%	4h	0.06344	−1.353%	$7.4M	$4.9M	50x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06344	−1.353%	$2.1M	$3.3M	50x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06348	−1.291%	$1.5M	$304K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06345	−1.337%	$2.6M	$1.9M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06346	−1.322%	—	$2.8M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06348	−1.288%	$44K	$23K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06345	−1.339%	$3K	$1K	10x	as long as short
Backpack PYTH_USDC_PERP	+0.0215%	1h	0.06352	−1.233%	$38K	$87K	10x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06347	−1.306%	—	—	20x	as long as short