Funding arb · Price arb /

PYTH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0052%/8h= +5.7% APRpaid last 24h +0.012%

Price spread now: Aevo against Gate+0.143%7-day average — · you sell dearer than you buy

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

Long on Gate 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

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Aevo is 0.143% dearer against Gate than usual: you sell high and buy low: +$14 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PYTH_USDT	0.06348	0.0004	pay 0.0002% / 4h	55m 10s	$1.1M	$474K	75x
Short	Aevo PYTH-PERP	0.06357	0.0056	get 0.0007% / 1h	55m 10s	$23K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Gate. 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 GatebpFee AevobpOrdersPrice spread, now +0.143%Rate

Funding earned: $10.92
Price spread: +0.143% → 0.000%: $14.34
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$5.74
Costs to cover: 0.310%
Break-even: 10.7 days

Slippage unknown: Gate: live order book, 2 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 Gate live order book, 2 min ago	3.94 bp	27.3 bp −$27	doesn't fit	doesn't fit	doesn't fit
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 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	−0.0397%	1h	0.06357	+0.142%	$378K	$264K	25x	as long as short
Deribit PYTH_USDC-PERPETUAL	−0.0379%	1h	0.06357	+0.142%	$10K	$10K	10x	as long as short
MEXC PYTH_USDT	−0.0086%	4h	0.06349	+0.016%	$9.6M	$2.3M	125x	as long as short
Binance PYTHUSDT	−0.0085%	4h	0.06347	−0.016%	$9.1M	$17.2M	75x	as long as short
BloFin PYTH-USDT	−0.0078%	4h	0.06349	+0.016%	$421K	$116K	75x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06354	+0.097%	$189K	$19	5x	as long as short
Gate PYTH_USDTlong	+0.0004%	4h	0.06348	long leg	$1.1M	$474K	75x
Bybit PYTHUSDT	+0.0021%	4h	0.06352	+0.063%	$7.5M	$4.8M	50x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−1.386%	$553	$220K	5.5x	as long as short
Aevo PYTH-PERPshort	+0.0056%	1h	0.06357	+0.143%	$23K	—	3x

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PYTHUSDT	+0.0070%	4h	0.06350	+0.033%	$25K	$44K	10x	as long as short
Lighter PYTH	+0.0096%	1h	0.06359	+0.173%	$201K	$217K	5x	as long as short
Paradex PYTH-USD-PERP	+0.0100%	8h	0.06349	+0.009%	$3K	$56	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06356	+0.128%	$1.7M	$1.5M	5x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06355	+0.110%	$2.1M	$3.4M	50x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06357	+0.142%	$1.5M	$316K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06351	+0.047%	$2.6M	$2.0M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06352	+0.063%	—	$2.8M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06347	−0.013%	$44K	$22K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06350	+0.030%	$3K	$1K	10x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0176%	1h	0.06328	−0.315%	$39K	$6K	25x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06350	+0.026%	—	—	20x	as long as short
Backpack PYTH_USDC_PERP	+0.0506%	1h	0.06358	+0.164%	$36K	$89K	10x	as long as short