Funding arb · Price arb /

PYTH

all PYTH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0436%/8h= +47.7% APRnext payment +$0.55 per $10,000 · paid last 24h —

Price spread now: Reya against Kraken Futures−0.176%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures 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 0.176% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.176% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$18 on $10k: about 32 hours of funding at the current rate (+$13 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_PYTHUSD	0.06495	−0.0134	get 0.0017% / 1h	12m 47s	$399K	$291K	25x
Short	Reya PYTHRUSDPERP	0.06484	0.0302	get 0.0038% / 1h	12m 47s	—	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Kraken Futures. 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 Kraken FuturesbpFee ReyabpOrdersPrice spread, now −0.176%Rate

Funding earned: $91.57
Price spread: −0.176% → 0.000%: −$17.6
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: $57.96
Costs to cover: 0.160%
Break-even: 2.6 days

Slippage unknown: Kraken Futures: live order book, 60 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 Kraken Futures live order book, 60 min ago	7.12 bp	21.1 bp −$21	334.4 bp −$3,344	doesn't fit	doesn't fit
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 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_PYTHUSDlong	−0.0134%	1h	0.06495	long leg	$399K	$291K	25x
BloFin PYTH-USDT	−0.0134%	4h	0.06483	−0.188%	$433K	$112K	75x	as long as short
MEXC PYTH_USDT	−0.0124%	4h	0.06493	−0.034%	$9.9M	$2.4M	125x	as long as short
Binance PYTHUSDT	−0.0121%	4h	0.06493	−0.036%	$9.3M	$17.6M	75x	as long as short
Coinbase International PYTH-PERP-INTX	−0.0064%	1h	0.06495	−0.003%	$40K	$18K	25x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06480	−0.236%	$192K	$19	5x	as long as short
Aster PYTHUSDT	+0.0019%	4h	0.06490	−0.074%	$22K	$45K	10x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−3.621%	$553	$220K	5.5x	as long as short
Aevo PYTH-PERP	+0.0048%	1h	0.06492	−0.048%	$23K	—	3x	as long as short
Lighter PYTH	+0.0096%	1h	0.06500	+0.074%	$204K	$199K	5x	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	+0.0100%	8h	0.06473	−0.344%	$3K	—	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06502	+0.097%	$2.1M	$1.6M	5x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	0.06492	−0.049%	$7.8M	$4.8M	50x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06495	−0.003%	$2.2M	$3.5M	50x	as long as short
Gate PYTH_USDT	+0.0100%	4h	0.06494	−0.018%	$1.1M	$480K	75x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06494	−0.018%	$1.6M	$326K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06496	+0.012%	$2.8M	$2.1M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06491	−0.065%	—	$2.7M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06426	−1.065%	$39K	$27K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06489	−0.098%	$3K	$2K	10x	as long as short
Reya PYTHRUSDPERPshort	+0.0302%	1h	0.06484	−0.176%	—	—	20x
Backpack PYTH_USDC_PERP	+0.0949%	1h	0.06498	+0.046%	$36K	$91K	10x	as long as short
Deribit PYTH_USDC-PERPETUAL	+0.0981%	1h	0.06509	+0.213%	$10K	$10K	10x	as long as short