Funding arb · Price arb /

PYTH

all PYTH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0202%/8h= +22.2% APRpaid last 24h —

Price spread now: Reya against BingX−0.060%7-day average — · you buy dearer than you sell

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

Long on BingX Short on Reya

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 · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.060% cheaper against BingX than usual: you would sell low and buy high (spread −0.060% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 24 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PYTH-USDT	0.06329	0.0100	pay 0.0050% / 4h	2h 08m	—	$2.8M	—
Short	Reya PYTHRUSDPERP	0.06325	0.0302	get 0.0038% / 1h	8m 59s	—	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against BingX. 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 BingXbpFee ReyabpOrdersPrice spread, now −0.060%Rate

Funding earned: $42.51
Price spread: −0.060% → 0.000%: −$6.04
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: $20.47
Costs to cover: 0.160%
Break-even: 3.6 days

Slippage unknown: BingX: live order book, 11 min ago; Reya: 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 BingX live order book, 11 min ago	3.94 bp	16.3 bp −$16	31.1 bp −$311	259.3 bp −$25.9K	504.0 bp −$252.0K
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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	−0.0082%	4h	0.06323	−0.095%	$1.0M	$500K	75x	as long as short
Coinbase International PYTH-PERP-INTX	−0.0064%	1h	0.06369	+0.632%	$39K	$18K	25x	as long as short
Binance PYTHUSDT	−0.0063%	4h	0.06326	−0.051%	$9.1M	$17.8M	75x	as long as short
MEXC PYTH_USDT	−0.0060%	4h	0.06327	−0.032%	$9.6M	$2.4M	125x	as long as short
Aster PYTHUSDT	−0.0011%	4h	0.06330	+0.011%	$20K	$46K	10x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06339	+0.154%	$188K	$19	5x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−1.090%	$553	$220K	5.5x	as long as short
Aevo PYTH-PERP	+0.0064%	1h	0.06325	−0.063%	$23K	—	3x	as long as short
Lighter PYTH	+0.0096%	1h	0.06333	+0.063%	$190K	$206K	5x	as long as short
Paradex PYTH-USD-PERP	+0.0100%	8h	0.06324	−0.076%	$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	0.06329	−0.006%	$2.0M	$1.7M	5x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	0.06330	+0.016%	$7.5M	$4.8M	50x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06331	+0.032%	$2.1M	$3.4M	50x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06330	+0.016%	$1.5M	$341K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06330	+0.016%	$2.7M	$2.2M	75x	as long as short
BingX PYTH-USDTlong	+0.0100%	4h	0.06329	long leg	—	$2.8M	—
Backpack PYTH_USDC_PERP	+0.0100%	1h	0.06329	−0.003%	$38K	$93K	10x	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06357	+0.441%	$38K	$26K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06327	−0.035%	$3K	$2K	10x	as long as short
Reya PYTHRUSDPERPshort	+0.0302%	1h	0.06325	−0.060%	—	—	20x
Kraken Futures PF_PYTHUSD	+0.0378%	1h	0.06333	+0.055%	$387K	$292K	25x	as long as short
Deribit PYTH_USDC-PERPETUAL	+0.0540%	1h	0.06336	+0.111%	$10K	$10K	10x	as long as short