Funding arb · Price arb /

PYTH

all PYTH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.1219%/8h= +133.5% APRpaid last 24h −0.024%

Price spread now: Deribit against Variational Omni−0.691%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Deribit

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. Deribit is 0.691% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.691% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$69 on $10k: about 45 hours of funding at the current rate (+$37 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni PYTH	0.06425	0.0100	pay 0.0050% / 4h	2h 57m	$39K	$27K	—
Short	Deribit PYTH_USDC-PERPETUAL	0.06381	0.1319	get 0.0165% / 1h	57m 01s	$10K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Variational Omni. 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 Variational OmnibpFee DeribitbpOrdersPrice spread, now −0.691%Rate

Funding earned: $256.04
Price spread: −0.691% → 0.000%: −$69.06
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $179.97
Costs to cover: 0.070%
Break-even: 2.1 days

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

Variational Omni and Deribit: 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	−0.0153%	4h	0.06382	−0.675%	$431K	$112K	75x	as long as short
MEXC PYTH_USDT	−0.0122%	4h	0.06341	−1.313%	$9.6M	$2.4M	125x	as long as short
Binance PYTHUSDT	−0.0121%	4h	0.06352	−1.142%	$9.1M	$17.7M	75x	as long as short
Coinbase International PYTH-PERP-INTX	−0.0064%	1h	0.06505	+1.239%	$40K	$18K	25x	as long as short
Aster PYTHUSDT	−0.0013%	4h	0.06383	−0.667%	$20K	$46K	10x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06381	−0.695%	$189K	$19	5x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−2.574%	$553	$220K	5.5x	as long as short
Aevo PYTH-PERP	+0.0048%	1h	0.06379	−0.722%	$23K	—	3x	as long as short
Lighter PYTH	+0.0096%	1h	0.06379	−0.722%	$200K	$195K	5x	as long as short
Paradex PYTH-USD-PERP	+0.0100%	8h	0.06374	−0.797%	$3K	—	10x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PYTH	+0.0100%	1h	0.06365	−0.938%	$2.0M	$1.6M	5x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	0.06353	−1.126%	$7.6M	$4.9M	50x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06350	−1.173%	$2.1M	$3.4M	50x	as long as short
Gate PYTH_USDT	+0.0100%	4h	0.06343	−1.282%	$1.1M	$487K	75x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06355	−1.095%	$1.5M	$331K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06353	−1.126%	$2.7M	$2.2M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06352	−1.142%	—	$2.8M	—	as long as short
Variational Omni PYTHlong	+0.0100%	4h	0.06425	long leg	$39K	$27K	—
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06374	−0.792%	$3K	$2K	10x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06372	−0.823%	—	—	20x	as long as short
Kraken Futures PF_PYTHUSD	+0.0376%	1h	0.06378	−0.742%	$391K	$291K	25x	as long as short
Backpack PYTH_USDC_PERP	+0.0737%	1h	0.06363	−0.965%	$38K	$93K	10x	as long as short
Deribit PYTH_USDC-PERPETUALshort	+0.1319%	1h	0.06381	−0.691%	$10K	$10K	10x