Funding arb · Price arb /

PYTH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0011%/8h= −1.2% APRpaid last 24h −0.001%

Price spread now: Aevo against Paradex+0.311%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

The price spread pays, funding is against you. Aevo is 0.311% dearer against Paradex than usual: you sell high and buy low (spread +0.311% now, against zero (this spread has no 7-day history yet)): +$31 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 3 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex PYTH-USD-PERP	0.06292	0.0099	pay 0.0099% / 8h	2h 11m	$3K	$56	10x
Short	Aevo PYTH-PERP	0.06311	0.0088	get 0.0011% / 1h	11m 40s	$23K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Paradex. 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 ParadexbpFee AevobpOrdersPrice spread, now +0.311%Rate

Funding earned: −$2.37
Price spread: +0.311% → 0.000%: $31.11
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Aevo: 8 bp × 2 orders: −$16
Net: $8.74
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; 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 Paradex no order-book sample	—	—	—	—	—
Sell Aevo no order-book sample	—	—	—	—	—

Paradex and 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
Injective PYTH/USDC PERP	−0.0586%	1h	0.06350	+0.929%	$561	$180K	5.5x	as long as short
Deribit PYTH_USDC-PERPETUAL	−0.0383%	1h	0.06318	+0.421%	$10K	$10K	10x	as long as short
Kraken Futures PF_PYTHUSD	−0.0217%	1h	0.06311	+0.313%	$382K	$240K	25x	as long as short
Gate PYTH_USDT	−0.0052%	4h	0.06296	+0.071%	$1.1M	$467K	75x	as long as short
BloFin PYTH-USDT	−0.0004%	4h	0.06332	+0.643%	$424K	$117K	75x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06297	+0.085%	$187K	$19	5x	as long as short
Binance PYTHUSDT	+0.0014%	4h	0.06294	+0.039%	$9.1M	$16.1M	75x	as long as short
MEXC PYTH_USDT	+0.0020%	4h	0.06292	+0.008%	$9.3M	$2.4M	125x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0048%	1h	0.06431	+2.217%	$40K	$6K	25x	as long as short
Bybit PYTHUSDT	+0.0078%	4h	0.06300	+0.135%	$7.4M	$5.0M	50x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PYTH-PERPshort	+0.0088%	1h	0.06311	+0.311%	$23K	—	3x
Lighter PYTH	+0.0096%	1h	0.06307	+0.246%	$195K	$206K	5x	as long as short
Paradex PYTH-USD-PERPlong	+0.0099%	8h	0.06292	long leg	$3K	$56	10x
Hyperliquid PYTH	+0.0100%	1h	0.06302	+0.163%	$1.7M	$1.5M	5x	as long as short
Aster PYTHUSDT	+0.0100%	4h	0.06302	+0.170%	$20K	$30K	10x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06301	+0.151%	$2.1M	$3.3M	50x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06297	+0.087%	$1.5M	$304K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06300	+0.135%	$2.6M	$1.9M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06299	+0.119%	—	$2.8M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06338	+0.734%	$44K	$23K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06315	+0.365%	$3K	$1K	10x	as long as short
Backpack PYTH_USDC_PERP	+0.0158%	1h	0.06313	+0.335%	$38K	$87K	10x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06312	+0.324%	—	—	20x	as long as short