Funding arb · Price arb /

PYTH

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Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.029%

Price spread now: Variational Omni against dYdX−0.184%7-day average — · you buy dearer than you sell

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

Long on dYdX 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 0.184% cheaper against dYdX than usual: you would sell low and buy high (spread −0.184% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$18 on $10k: about 6.1 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX PYTH-USD	0.06400	0	get 0.0000% / 1h	21m 14s	$190K	$19	5x
Short	Variational Omni PYTH	0.06388	0.0100	get 0.0050% / 4h	3h 21m	$39K	$27K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against dYdX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 dYdXbpFee Variational OmnibpOrdersPrice spread, now −0.184%Rate

Funding earned: $21
Price spread: −0.184% → 0.000%: −$18.4
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$7.4
Costs to cover: 0.100%
Break-even: 9.5 days

Slippage unknown: dYdX: live order book, 53 min ago; 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 dYdX live order book, 53 min ago	113.82 bp	118.8 bp −$119	118.8 bp −$1,188	145.8 bp −$14.6K	746.9 bp −$373.4K
Sell Variational Omni no order-book sample	—	—	—	—	—

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
BloFin PYTH-USDT	−0.0169%	4h	0.06381	−0.293%	$425K	$110K	75x	as long as short
Binance PYTHUSDT	−0.0137%	4h	0.06382	−0.283%	$9.2M	$17.5M	75x	as long as short
Kraken Futures PF_PYTHUSD	−0.0136%	1h	0.06392	−0.123%	$393K	$291K	25x	as long as short
MEXC PYTH_USDT	−0.0130%	4h	0.06381	−0.293%	$9.7M	$2.4M	125x	as long as short
Coinbase International PYTH-PERP-INTX	−0.0064%	1h	0.06415	+0.239%	$40K	$18K	25x	as long as short
dYdX PYTH-USDlong	0.0000%	1h	0.06400	long leg	$190K	$19	5x
Aster PYTHUSDT	+0.0011%	4h	0.06389	−0.164%	$22K	$44K	10x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−2.183%	$553	$220K	5.5x	as long as short
Aevo PYTH-PERP	+0.0048%	1h	0.06387	−0.205%	$23K	—	3x	as long as short
Deribit PYTH_USDC-PERPETUAL	+0.0063%	1h	0.06393	−0.105%	$10K	$10K	10x	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	0.06396	−0.058%	$201K	$199K	5x	as long as short
Paradex PYTH-USD-PERP	+0.0100%	8h	0.06379	−0.319%	$3K	—	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06393	−0.103%	$1.9M	$1.5M	5x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	0.06385	−0.230%	$7.6M	$4.8M	50x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06383	−0.261%	$2.1M	$3.4M	50x	as long as short
Gate PYTH_USDT	+0.0100%	4h	0.06383	−0.261%	$1.1M	$472K	75x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06396	−0.058%	$1.5M	$325K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06393	−0.105%	$2.6M	$2.1M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06386	−0.214%	—	$2.8M	—	as long as short
Variational Omni PYTHshort	+0.0100%	4h	0.06388	−0.184%	$39K	$27K	—
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06387	−0.196%	$3K	$2K	10x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06384	−0.241%	—	—	20x	as long as short
Backpack PYTH_USDC_PERP	+0.0926%	1h	0.06393	−0.100%	$35K	$91K	10x	as long as short