Funding arb · Price arb /

PYTH

all PYTH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.029%

Price spread now: dYdX against Variational Omni+0.169%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on dYdX

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 airdropVariational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. dYdX is 0.169% dearer against Variational Omni than usual: you sell high and buy low (spread +0.169% now, against zero (this spread has no 7-day history yet)): +$17 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 5.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni PYTH	0.06204	0.0100	pay 0.0050% / 4h	1h 30m	$39K	$25K	—
Short	dYdX PYTH-USD	0.06215	0	get 0.0000% / 1h	30m 22s	$185K	$3	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Variational Omni. 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 Variational OmnibpFee dYdXbpOrdersPrice spread, now +0.169%Rate

Funding earned: −$21
Price spread: +0.169% → 0.000%: $16.87
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$14.13
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Variational Omni: no order-book sample; dYdX: live order book, 17 min ago. 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 Variational Omni no order-book sample	—	—	—	—	—
Sell dYdX live order book, 17 min ago	97.47 bp	103.6 bp −$104	231.9 bp −$2,319	277.6 bp −$27.8K	758.3 bp −$379.1K

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 exchanges

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
dYdX PYTH-USDshort	0.0000%	1h	0.06215	+0.169%	$185K	$3	5x
Deribit PYTH_USDC-PERPETUAL	0.0000%	1h	0.06210	+0.096%	$10K	—	10x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	+0.902%	$553	$220K	5.5x	as long as short
Lighter PYTH	+0.0096%	1h	0.06214	+0.161%	$192K	$185K	5x	as long as short
Paradex PYTH-USD-PERP	+0.0100%	8h	0.06199	−0.081%	$3K	—	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06214	+0.159%	$2.1M	$2.0M	5x	as long as short
Aster PYTHUSDT	+0.0100%	4h	0.06212	+0.136%	$19K	$47K	10x	as long as short
Binance PYTHUSDT	+0.0100%	4h	0.06208	+0.064%	$8.8M	$18.5M	75x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	0.06209	+0.080%	$7.4M	$4.5M	50x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06211	+0.112%	$2.1M	$3.3M	50x	as long as short

Show all 23 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PYTH_USDT	+0.0100%	4h	0.06201	−0.049%	$1.0M	$452K	75x	as long as short
MEXC PYTH_USDT	+0.0100%	4h	0.06208	+0.064%	$11.0M	$2.9M	125x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06210	+0.096%	$1.5M	$353K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06206	+0.032%	$2.6M	$2.2M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06210	+0.096%	—	$2.8M	—	as long as short
Variational Omni PYTHlong	+0.0100%	4h	0.06204	long leg	$39K	$25K	—
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06208	+0.057%	$2K	$2K	10x	as long as short
BloFin PYTH-USDT	+0.0100%	4h	0.06210	+0.096%	$424K	$76K	75x	as long as short
Aevo PYTH-PERP	+0.0104%	1h	0.06205	+0.017%	$22K	—	3x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06204	−0.005%	—	—	20x	as long as short
Kraken Futures PF_PYTHUSD	+0.0385%	1h	0.06213	+0.141%	$377K	$237K	25x	as long as short
Backpack PYTH_USDC_PERP	+0.0554%	1h	0.06210	+0.102%	$36K	$53K	10x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0640%	1h	0.06330	+2.030%	$39K	$20K	25x	as long as short