Funding arb · Price arb /

PYTH

all PYTH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0436%/8h= −47.7% APRpaid last 24h −0.021%

Price spread now: Aster against Coinbase International−1.626%7-day average — · you buy dearer than you sell

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

Long on Coinbase International Short on Aster

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—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Aster is 1.626% cheaper against Coinbase International than usual: you would sell low and buy high (−$163 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	Coinbase International PYTH-PERP-INTX	0.06427	0.0536	pay 0.0067% / 1h	22m 40s	$40K	$19K	25x
Short	Aster PYTHUSDT	0.06322	0.0100	get 0.0050% / 4h	3h 22m	$20K	$48K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Coinbase International. 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 Coinbase InternationalbpFee AsterbpOrdersPrice spread, now −1.626%Rate

Funding earned: −$91.56
Price spread: −1.626% → 0.000%: −$162.62
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$272.18
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; Aster: 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 Coinbase International no order-book sample	—	—	—	—	—
Sell Aster no order-book sample	—	—	—	—	—

Coinbase International and Aster: 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	0.0000%	1h	0.06332	−1.478%	$10K	$10K	10x	as long as short
dYdX PYTH-USD	+0.0010%	1h	0.06333	−1.464%	$188K	$13	5x	as long as short
Backpack PYTH_USDC_PERP	+0.0028%	1h	0.06330	−1.517%	$35K	$55K	10x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−2.598%	$553	$220K	5.5x	as long as short
MEXC PYTH_USDT	+0.0082%	4h	0.06327	−1.556%	$11.3M	$3.0M	125x	as long as short
Binance PYTHUSDT	+0.0088%	4h	0.06326	−1.578%	$9.1M	$19.7M	75x	as long as short
Lighter PYTH	+0.0096%	1h	0.06334	−1.447%	$196K	$216K	5x	as long as short
Paradex PYTH-USD-PERP	+0.0100%	8h	0.06329	−1.522%	$3K	—	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06325	−1.590%	$2.1M	$2.0M	5x	as long as short
Aster PYTHUSDTshort	+0.0100%	4h	0.06322	−1.626%	$20K	$48K	10x

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit PYTHUSDT	+0.0100%	4h	0.06332	−1.478%	$7.6M	$4.8M	50x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06330	−1.509%	$2.1M	$3.6M	50x	as long as short
Gate PYTH_USDT	+0.0100%	4h	0.06322	−1.634%	$1.0M	$511K	75x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06326	−1.571%	$1.5M	$370K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06325	−1.587%	$2.7M	$2.3M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06329	−1.525%	—	$2.8M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06254	−2.687%	$39K	$26K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06318	−1.698%	$2K	$2K	10x	as long as short
Aevo PYTH-PERP	+0.0104%	1h	0.06322	−1.632%	$23K	—	3x	as long as short
BloFin PYTH-USDT	+0.0131%	4h	0.06303	−1.929%	$433K	$72K	75x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06318	−1.689%	—	—	20x	as long as short
Kraken Futures PF_PYTHUSD	+0.0466%	1h	0.06329	−1.520%	$384K	$295K	25x	as long as short
Coinbase International PYTH-PERP-INTXlong	+0.0536%	1h	0.06427	long leg	$40K	$19K	25x