Funding arb · Price arb /

PYTH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0012%/8h= −1.3% APRpaid last 24h +0.013%

Price spread now: Aevo against Bybit−0.142%7-day average — · you buy dearer than you sell

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

Long on Bybit Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Aevo is 0.142% cheaper against Bybit than usual: you would sell low and buy high (−$14 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit PYTHUSDT	0.06319	0.0100	pay 0.0050% / 4h	2h 14m	$7.4M	$4.8M	50x
Short	Aevo PYTH-PERP	0.06310	0.0088	get 0.0011% / 1h	14m 39s	$23K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Bybit. 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 BybitbpFee AevobpOrdersPrice spread, now −0.142%Rate

Funding earned: −$2.52
Price spread: −0.142% → 0.000%: −$14.24
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$43.76
Costs to cover: 0.270%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 3 min ago; Aevo: 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 Bybit live order book, 3 min ago	0.79 bp	38.3 bp −$38	93.5 bp −$935	doesn't fit	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

Aevo: 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	−0.0377%	1h	0.06324	+0.078%	$38K	$63K	10x	as long as short
Deribit PYTH_USDC-PERPETUAL	−0.0225%	1h	0.06318	−0.016%	$10K	$10K	10x	as long as short
Gate PYTH_USDT	−0.0056%	4h	0.06313	−0.095%	$1.0M	$530K	75x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06328	+0.139%	$188K	$19	5x	as long as short
MEXC PYTH_USDT	+0.0016%	4h	0.06318	−0.016%	$10.5M	$2.7M	125x	as long as short
Binance PYTHUSDT	+0.0020%	4h	0.06320	+0.008%	$9.0M	$18.9M	75x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−0.934%	$553	$220K	5.5x	as long as short
BloFin PYTH-USDT	+0.0062%	4h	0.06305	−0.222%	$419K	$76K	75x	as long as short
Aevo PYTH-PERPshort	+0.0088%	1h	0.06310	−0.142%	$23K	—	3x
Lighter PYTH	+0.0096%	1h	0.06328	+0.142%	$194K	$211K	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	0.06314	−0.073%	$3K	—	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06325	+0.101%	$2.2M	$1.9M	5x	as long as short
Aster PYTHUSDT	+0.0100%	4h	0.06318	−0.018%	$20K	$45K	10x	as long as short
Bybit PYTHUSDTlong	+0.0100%	4h	0.06319	long leg	$7.4M	$4.8M	50x
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06316	−0.047%	$2.1M	$3.5M	50x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06323	+0.063%	$1.5M	$351K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06319	0.000%	$2.6M	$2.2M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06323	+0.063%	—	$2.8M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06306	−0.206%	$38K	$25K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06311	−0.128%	$2K	$2K	10x	as long as short
Kraken Futures PF_PYTHUSD	+0.0236%	1h	0.06319	−0.007%	$385K	$298K	25x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06307	−0.198%	—	—	20x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0312%	1h	0.06493	+2.754%	$40K	$19K	25x	as long as short