Funding arb · Price arb /

PYTH

all PYTH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0014%/8h= −1.6% APRpaid last 24h +0.047%

Price spread now: Aster against Injective+3.236%97s7-day average — · you sell dearer than you buy

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

Long on Injective 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

The price spread pays, funding is against you. Aster is 3.236% dearer against Injective than usual: you sell high and buy low (spread +3.236% now, against zero (this spread has no 7-day history yet)): +$324 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about years. The two prices were read 97 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective PYTH/USDC PERP	0.06260	0.0033	pay 0.0004% / 1h	13m 45s	$553	$220K	5.5x
Short	Aster PYTHUSDT	0.06463	0.0019	get 0.0009% / 4h	3h 13m	$22K	$45K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Injective. 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 InjectivebpFee AsterbpOrdersPrice spread, now +3.236%Rate

Funding earned: −$3.03
Price spread: +3.236% → 0.000%: $323.56
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Aster: 4 bp × 2 orders: −$8
Net: $312.51
Costs to cover: 0.080%
Break-even: from the start

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

Injective 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
Kraken Futures PF_PYTHUSD	−0.0134%	1h	0.06460	+3.198%	$397K	$291K	25x	as long as short
MEXC PYTH_USDT	−0.0124%	4h	0.06474	+3.419%	$9.8M	$2.4M	125x	as long as short
BloFin PYTH-USDT	−0.0122%	4h	0.06412	+2.428%	$429K	$111K	75x	as long as short
Binance PYTHUSDT	−0.0121%	4h	0.06473	+3.403%	$9.3M	$17.6M	75x	as long as short
Coinbase International PYTH-PERP-INTX	−0.0064%	1h	0.06415	+2.476%	$40K	$18K	25x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06480	+3.513%	$192K	$19	5x	as long as short
Aster PYTHUSDTshort	+0.0019%	4h	0.06463	+3.236%	$22K	$45K	10x
Injective PYTH/USDC PERPlong	+0.0033%	1h	0.06260	long leg	$553	$220K	5.5x
Aevo PYTH-PERP	+0.0048%	1h	0.06454	+3.094%	$23K	—	3x	as long as short
Lighter PYTH	+0.0096%	1h	0.06487	+3.626%	$204K	$199K	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	0.06473	+3.400%	$3K	—	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06484	+3.577%	$2.0M	$1.6M	5x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	0.06478	+3.482%	$7.7M	$4.8M	50x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06477	+3.466%	$2.2M	$3.5M	50x	as long as short
Gate PYTH_USDT	+0.0100%	4h	0.06460	+3.195%	$1.1M	$478K	75x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06480	+3.514%	$1.6M	$326K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06479	+3.498%	$2.7M	$2.1M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06478	+3.482%	—	$2.7M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06426	+2.652%	$39K	$27K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06452	+3.062%	$3K	$2K	10x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06449	+3.019%	—	—	20x	as long as short
Backpack PYTH_USDC_PERP	+0.0943%	1h	0.06459	+3.185%	$36K	$91K	10x	as long as short
Deribit PYTH_USDC-PERPETUAL	+0.1143%	1h	0.06470	+3.355%	$10K	$10K	10x	as long as short