Funding arb · Price arb /

PYTH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0214%/8h= +23.5% APRnext payment +$0.27 per $10,000 · paid last 24h —

Price spread now: Reya against Aevo+0.045%7-day average — · you sell dearer than you buy

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

Long on Aevo Short on Reya

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Reya is 0.045% dearer against Aevo than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo PYTH-PERP	0.06255	0.0088	pay 0.0011% / 1h	33m 36s	$22K	—	3x
Short	Reya PYTHRUSDPERP	0.06258	0.0302	get 0.0038% / 1h	33m 36s	—	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Aevo. 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 AevobpFee ReyabpOrdersPrice spread, now +0.045%Rate

Funding earned: $45.03
Price spread: +0.045% → 0.000%: $4.47
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Reya: 3 bp × 2 orders: −$6
Net: $27.5
Costs to cover: 0.220%
Break-even: 2.7 days

Slippage unknown: Aevo: no order-book sample; Reya: 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 Aevo no order-book sample	—	—	—	—	—
Sell Reya no order-book sample	—	—	—	—	—

Aevo and Reya: 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
Backpack PYTH_USDC_PERP	−0.0424%	1h	0.06262	+0.106%	$38K	$63K	10x	as long as short
Deribit PYTH_USDC-PERPETUAL	−0.0229%	1h	0.06258	+0.048%	$10K	$10K	10x	as long as short
Gate PYTH_USDT	−0.0100%	4h	0.06247	−0.128%	$1.0M	$528K	75x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06261	+0.096%	$186K	$19	5x	as long as short
BloFin PYTH-USDT	+0.0030%	4h	0.06271	+0.256%	$425K	$75K	75x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	+0.080%	$553	$220K	5.5x	as long as short
Binance PYTHUSDT	+0.0040%	4h	0.06250	−0.082%	$8.9M	$18.8M	75x	as long as short
MEXC PYTH_USDT	+0.0042%	4h	0.06250	−0.080%	$10.5M	$2.7M	125x	as long as short
Aevo PYTH-PERPlong	+0.0088%	1h	0.06255	long leg	$22K	—	3x
Lighter PYTH	+0.0096%	1h	0.06259	+0.064%	$191K	$208K	5x	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	0.06245	−0.154%	$3K	—	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06256	+0.021%	$2.1M	$1.9M	5x	as long as short
Aster PYTHUSDT	+0.0100%	4h	0.06258	+0.041%	$20K	$45K	10x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	0.06253	−0.032%	$7.4M	$4.8M	50x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06254	−0.016%	$2.1M	$3.5M	50x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06258	+0.048%	$1.5M	$351K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06251	−0.064%	$2.6M	$2.2M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06254	−0.016%	—	$2.7M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06277	+0.352%	$38K	$25K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06263	+0.120%	$2K	$2K	10x	as long as short
Kraken Futures PF_PYTHUSD	+0.0238%	1h	0.06260	+0.081%	$382K	$302K	25x	as long as short
Reya PYTHRUSDPERPshort	+0.0302%	1h	0.06258	+0.045%	—	—	20x
Coinbase International PYTH-PERP-INTX	+0.0312%	1h	0.06493	+3.805%	$40K	$19K	25x	as long as short