Funding arb · Price arb /

PYTH

all PYTH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.016%

Price spread now: Gate against OKX−0.110%7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$109as in the Funding arb table

Net, price: spread back to 7d avg − costs−$112as in the Price arb table

costs, in and out, $10k−$1051.048% of the position

Long on OKX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.037%−$4 on $10k

Price spread, last 7 days+0.053%+$5 · spread now −0.110%, 7d avg −0.039%

Together, before fees+0.016%+$2 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.072% cheaper against OKX than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.039%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PYTH-USDT-SWAP	0.06350	0.0100	pay 0.0050% / 4h	2h 56m	$2.1M	$3.4M	50x
Short	Gate PYTH_USDT	0.06343	0.0100	get 0.0050% / 4h	2h 56m	$1.1M	$487K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against OKX. 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 OKXbpFee GatebpOrdersPrice spread, now −0.110%Rate

Funding earned: $0
Price spread: −0.110% → −0.039%: −$7.17
Slippage, 4 orders: −$79.78
Fee OKX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$111.95
Costs to cover: 1.048%
Break-even: never at this rate

Slippage from OKX: live order book, just now; Gate: live order book, 5 min ago.

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 OKX live order book, just now	3.94 bp	21.5 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	4.67 bp	33.4 bp −$33	doesn't fit	doesn't fit	doesn't fit

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
BloFin PYTH-USDT	−0.0153%	4h	0.06382	+0.504%	$431K	$112K	75x	as long as short
MEXC PYTH_USDT	−0.0122%	4h	0.06341	−0.142%	$9.6M	$2.4M	125x	as long as short
Binance PYTHUSDT	−0.0121%	4h	0.06352	+0.031%	$9.1M	$17.7M	75x	as long as short
Coinbase International PYTH-PERP-INTX	−0.0064%	1h	0.06505	+2.441%	$40K	$18K	25x	as long as short
Aster PYTHUSDT	−0.0013%	4h	0.06383	+0.512%	$20K	$46K	10x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06381	+0.484%	$189K	$19	5x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−1.417%	$553	$220K	5.5x	as long as short
Aevo PYTH-PERP	+0.0048%	1h	0.06379	+0.457%	$23K	—	3x	as long as short
Lighter PYTH	+0.0096%	1h	0.06379	+0.457%	$200K	$195K	5x	as long as short
Paradex PYTH-USD-PERP	+0.0100%	8h	0.06374	+0.381%	$3K	—	10x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PYTH	+0.0100%	1h	0.06365	+0.238%	$2.0M	$1.6M	5x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	0.06353	+0.047%	$7.6M	$4.9M	50x	as long as short
OKX PYTH-USDT-SWAPlong	+0.0100%	4h	0.06350	long leg	$2.1M	$3.4M	50x
Gate PYTH_USDTshort	+0.0100%	4h	0.06343	−0.110%	$1.1M	$487K	75x
KuCoin PYTHUSDTM	+0.0100%	4h	0.06355	+0.079%	$1.5M	$331K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06353	+0.047%	$2.7M	$2.2M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06352	+0.031%	—	$2.8M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06425	+1.187%	$39K	$27K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06374	+0.386%	$3K	$2K	10x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06372	+0.354%	—	—	20x	as long as short
Kraken Futures PF_PYTHUSD	+0.0376%	1h	0.06378	+0.437%	$391K	$291K	25x	as long as short
Backpack PYTH_USDC_PERP	+0.0737%	1h	0.06363	+0.211%	$38K	$93K	10x	as long as short
Deribit PYTH_USDC-PERPETUAL	+0.1319%	1h	0.06381	+0.488%	$10K	$10K	10x	as long as short