Funding arb · Price arb /

PYTH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0202%/8hpaid last 24h —

Price spread now: Variational Omni against Reya+0.253%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

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

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

The price spread pays, funding is against you. Variational Omni is 0.253% dearer against Reya than usual: you sell high and buy low (spread +0.253% now, against zero (this spread has no 7-day history yet)): +$25 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 4.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya PYTHRUSDPERP	0.06340	0.0302	pay 0.0038% / 1h	6m 39s	—	—	20x
Short	Variational Omni PYTH	0.06356	0.0100	get 0.0050% / 4h	6m 39s	$44K	$17K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Reya. 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 ReyabpFee Variational OmnibpOrdersPrice spread, now +0.253%Rate

Funding earned: −$42.51
Price spread: +0.253% → 0.000%: $25.3
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$23.22
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; Variational Omni: 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 Reya no order-book sample	—	—	—	—	—
Sell Variational Omni no order-book sample	—	—	—	—	—

Reya and Variational Omni: 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	−0.0507%	1h	0.06367	+0.427%	$563	$143K	5.5x	as long as short
Kraken Futures PF_PYTHUSD	−0.0249%	1h	0.06351	+0.173%	$382K	$224K	25x	as long as short
Bybit PYTHUSDT	−0.0186%	4h	0.06338	−0.030%	$7.4M	$4.9M	50x	as long as short
Gate PYTH_USDT	−0.0174%	4h	0.06339	−0.015%	$1.1M	$523K	75x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06348	+0.127%	$188K	$19	5x	as long as short
Deribit PYTH_USDC-PERPETUAL	0.0000%	1h	0.06351	+0.175%	$10K	$10K	10x	as long as short
Binance PYTHUSDT	+0.0032%	4h	0.06338	−0.024%	$9.0M	$15.8M	75x	as long as short
MEXC PYTH_USDT	+0.0038%	4h	0.06339	−0.015%	$9.5M	$2.5M	125x	as long as short
BloFin PYTH-USDT	+0.0083%	4h	0.06344	+0.064%	$427K	$126K	75x	as long as short
Aevo PYTH-PERP	+0.0088%	1h	0.06349	+0.151%	$23K	—	3x	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	+0.0095%	8h	0.06335	−0.082%	$3K	$56	10x	as long as short
Lighter PYTH	+0.0096%	1h	0.06349	+0.143%	$197K	$202K	5x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06343	+0.052%	$1.6M	$1.5M	5x	as long as short
Aster PYTHUSDT	+0.0100%	4h	0.06347	+0.108%	$21K	$34K	10x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06337	−0.046%	$2.1M	$3.4M	50x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06347	+0.112%	$1.5M	$336K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06337	−0.046%	$2.6M	$1.9M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06338	−0.030%	—	$2.8M	—	as long as short
Backpack PYTH_USDC_PERP	+0.0100%	1h	0.06347	+0.110%	$38K	$90K	10x	as long as short
Variational Omni PYTHshort	+0.0100%	4h	0.06356	+0.253%	$44K	$17K	—
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06347	+0.118%	$3K	$1K	10x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0232%	1h	0.06369	+0.459%	$39K	$9K	25x	as long as short
Reya PYTHRUSDPERPlong	+0.0302%	1h	0.06340	long leg	—	—	20x