Funding arb · Price arb /

PYTH

all PYTH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against Variational Omni+0.055%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 4 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

The price spread pays, funding is against you. dYdX is 0.055% dearer against Variational Omni than usual: you sell high and buy low (spread +0.055% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 44 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni PYTH	0.06318	0.0100	pay 0.0050% / 4h	2h 43m	$38K	$25K	—
Short	dYdX PYTH-USD	0.06322	0	get 0.0000% / 1h	43m 58s	$188K	$19	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.055%Rate

Funding earned: −$21
Price spread: +0.055% → 0.000%: $5.49
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$25.51
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: no order-book sample; dYdX: live order book, 5 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 Variational Omni no order-book sample	—	—	—	—	—
Sell dYdX live order book, 5 min ago	40.12 bp	45.1 bp −$45	158.2 bp −$1,582	209.9 bp −$21.0K	502.8 bp −$251.4K

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
Deribit PYTH_USDC-PERPETUAL	−0.0541%	1h	0.06316	−0.038%	$10K	$10K	10x	as long as short
Backpack PYTH_USDC_PERP	−0.0431%	1h	0.06319	+0.003%	$38K	$63K	10x	as long as short
Gate PYTH_USDT	−0.0090%	4h	0.06306	−0.196%	$1.0M	$518K	75x	as long as short
dYdX PYTH-USDshort	0.0000%	1h	0.06322	+0.055%	$188K	$19	5x
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−0.924%	$553	$220K	5.5x	as long as short
MEXC PYTH_USDT	+0.0044%	4h	0.06304	−0.228%	$10.6M	$2.6M	125x	as long as short
BloFin PYTH-USDT	+0.0044%	4h	0.06313	−0.085%	$351K	$75K	75x	as long as short
Binance PYTHUSDT	+0.0044%	4h	0.06305	−0.206%	$9.0M	$18.5M	75x	as long as short
Lighter PYTH	+0.0096%	1h	0.06320	+0.025%	$193K	$206K	5x	as long as short
Aevo PYTH-PERP	+0.0096%	1h	0.06315	−0.054%	$23K	—	3x	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	0.06307	−0.175%	$3K	—	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06319	+0.010%	$2.3M	$1.8M	5x	as long as short
Aster PYTHUSDT	+0.0100%	4h	0.06315	−0.049%	$20K	$45K	10x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	0.06305	−0.212%	$7.4M	$4.8M	50x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06307	−0.180%	$2.1M	$3.5M	50x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06312	−0.101%	$1.5M	$349K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06304	−0.228%	$2.7M	$2.2M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06309	−0.149%	—	$2.7M	—	as long as short
Variational Omni PYTHlong	+0.0100%	4h	0.06318	long leg	$38K	$25K	—
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06311	−0.117%	$2K	$2K	10x	as long as short
Kraken Futures PF_PYTHUSD	+0.0236%	1h	0.06319	+0.009%	$385K	$302K	25x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06308	−0.157%	—	—	20x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0312%	1h	0.06493	+2.763%	$40K	$19K	25x	as long as short