Funding arb · Price arb /

PYTH

all PYTH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h +0.021%

Price spread now: Aevo against MEXC−0.260%56s7-day average — · you buy dearer than you sell

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

Long on MEXC 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

Funding pays, the price is against you. Aevo is 0.260% cheaper against MEXC than usual: you would sell low and buy high (spread −0.260% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$26 on $10k: about 7.2 days of funding at the current rate (+$4 a day). The two prices were read 56 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	MEXC PYTH_USDT	0.06357	−0.0056	get 0.0028% / 4h	2h 04m	$9.6M	$2.4M	125x
Short	Aevo PYTH-PERP	0.06341	0.0064	get 0.0008% / 1h	4m 31s	$23K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against MEXC. 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 MEXCbpFee AevobpOrdersPrice spread, now −0.260%Rate

Funding earned: $25.2
Price spread: −0.260% → 0.000%: −$25.96
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$16.76
Costs to cover: 0.160%
Break-even: 11.7 days

Slippage unknown: MEXC: live order book, 4 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 MEXC live order book, 4 min ago	0.79 bp	4.6 bp −$5	9.7 bp −$97	90.7 bp −$9,071	179.9 bp −$90.0K
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 22 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
Gate PYTH_USDT	−0.0084%	4h	0.06348	−0.142%	$1.0M	$501K	75x	as long as short
Coinbase International PYTH-PERP-INTX	−0.0064%	1h	0.06369	+0.189%	$39K	$18K	25x	as long as short
Binance PYTHUSDT	−0.0056%	4h	0.06355	−0.026%	$9.1M	$17.7M	75x	as long as short
MEXC PYTH_USDTlong	−0.0056%	4h	0.06357	long leg	$9.6M	$2.4M	125x
Aster PYTHUSDT	−0.0004%	4h	0.06350	−0.113%	$20K	$46K	10x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06347	−0.162%	$188K	$19	5x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−1.526%	$553	$220K	5.5x	as long as short
Aevo PYTH-PERPshort	+0.0064%	1h	0.06341	−0.260%	$23K	—	3x
Lighter PYTH	+0.0096%	1h	0.06358	+0.016%	$191K	$206K	5x	as long as short
Paradex PYTH-USD-PERP	+0.0100%	8h	0.06346	−0.166%	$3K	—	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PYTH	+0.0100%	1h	0.06364	+0.116%	$2.0M	$1.7M	5x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	0.06359	+0.031%	$7.6M	$4.8M	50x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06359	+0.031%	$2.1M	$3.4M	50x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06357	0.000%	$1.5M	$341K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06358	+0.016%	$2.7M	$2.2M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06355	−0.031%	—	$2.8M	—	as long as short
Backpack PYTH_USDC_PERP	+0.0100%	1h	0.06347	−0.159%	$39K	$92K	10x	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06340	−0.261%	$38K	$26K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06340	−0.267%	$3K	$2K	10x	as long as short
Deribit PYTH_USDC-PERPETUAL	+0.0223%	1h	0.06344	−0.204%	$10K	$10K	10x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06356	−0.021%	—	—	20x	as long as short
Kraken Futures PF_PYTHUSD	+0.0378%	1h	0.06347	−0.157%	$388K	$292K	25x	as long as short