Funding arb · Price arb /

PYTH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0202%/8h= +22.2% APRpaid last 24h —

Price spread now: Reya against Aster−0.109%7-day average — · you buy dearer than you sell

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

Long on Aster 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 airdropAster: Stage 5 · Reya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.109% cheaper against Aster than usual: you would sell low and buy high (spread −0.109% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 43 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PYTHUSDT	0.06278	0.0100	pay 0.0050% / 4h	2h 20m	$19K	$47K	10x
Short	Reya PYTHRUSDPERP	0.06271	0.0302	get 0.0038% / 1h	20m 29s	—	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Aster. 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 AsterbpFee ReyabpOrdersPrice spread, now −0.109%Rate

Funding earned: $42.51
Price spread: −0.109% → 0.000%: −$10.87
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Reya: 3 bp × 2 orders: −$6
Net: $17.65
Costs to cover: 0.140%
Break-even: 4.1 days

Slippage unknown: Aster: 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 Aster no order-book sample	—	—	—	—	—
Sell Reya no order-book sample	—	—	—	—	—

Aster 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 exchanges

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	−0.0056%	1h	0.06281	+0.055%	$35K	$53K	10x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06274	−0.065%	$186K	$13	5x	as long as short
Deribit PYTH_USDC-PERPETUAL	0.0000%	1h	0.06280	+0.036%	$10K	—	10x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−0.283%	$553	$220K	5.5x	as long as short
Lighter PYTH	+0.0096%	1h	0.06282	+0.068%	$194K	$207K	5x	as long as short
Paradex PYTH-USD-PERP	+0.0100%	8h	0.06270	−0.130%	$3K	—	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06280	+0.044%	$2.1M	$1.9M	5x	as long as short
Aster PYTHUSDTlong	+0.0100%	4h	0.06278	long leg	$19K	$47K	10x
Binance PYTHUSDT	+0.0100%	4h	0.06271	−0.108%	$8.9M	$19.1M	75x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	0.06274	−0.060%	$7.5M	$4.4M	50x	as long as short

Show all 23 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06272	−0.092%	$2.1M	$3.5M	50x	as long as short
Gate PYTH_USDT	+0.0100%	4h	0.06268	−0.155%	$1.0M	$495K	75x	as long as short
MEXC PYTH_USDT	+0.0100%	4h	0.06272	−0.092%	$11.2M	$2.9M	125x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06277	−0.012%	$1.5M	$359K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06274	−0.060%	$2.6M	$2.3M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06274	−0.060%	—	$2.7M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06270	−0.120%	$39K	$24K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06272	−0.087%	$2K	$2K	10x	as long as short
Aevo PYTH-PERP	+0.0104%	1h	0.06272	−0.085%	$22K	—	3x	as long as short
BloFin PYTH-USDT	+0.0158%	4h	0.06273	−0.076%	$426K	$72K	75x	as long as short
Reya PYTHRUSDPERPshort	+0.0302%	1h	0.06271	−0.109%	—	—	20x
Kraken Futures PF_PYTHUSD	+0.0462%	1h	0.06280	+0.039%	$381K	$259K	25x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0616%	1h	0.06330	+0.832%	$39K	$20K	25x	as long as short