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 0.000%

Price spread now: KuCoin against OKX+0.079%7-day average +0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$227as in the Funding arb table

Net, price: spread back to 7d avg − costs−$221as in the Price arb table

costs, in and out, $10k−$2272.269% of the position

Long on OKX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 7 days−0.051%−$5 · spread now +0.079%, 7d avg +0.024%

Together, before fees−0.051%−$5 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: KuCoin is 0.055% dearer against OKX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PYTH-USDT-SWAP	0.06359	0.0100	pay 0.0050% / 4h	3h 39m	$2.1M	$3.4M	50x
Short	KuCoin PYTHUSDTM	0.06364	0.0100	get 0.0050% / 4h	3h 39m	$1.5M	$325K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.079%Rate

Funding earned: $0
Price spread: +0.079% → +0.024%: $5.45
Slippage, 4 orders: −$204.91
Fee OKX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$221.45
Costs to cover: 2.269%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; KuCoin: live order book, 6 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, 3 min ago	1.57 bp	16.3 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 6 min ago	12.58 bp	70.0 bp −$70	627.6 bp −$6,276	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
Binance PYTHUSDT	−0.0163%	4h	0.06358	−0.019%	$9.2M	$17.5M	75x	as long as short
MEXC PYTH_USDT	−0.0162%	4h	0.06360	+0.016%	$9.7M	$2.4M	125x	as long as short
BloFin PYTH-USDT	−0.0153%	4h	0.06355	−0.063%	$426K	$112K	75x	as long as short
Kraken Futures PF_PYTHUSD	−0.0136%	1h	0.06366	+0.114%	$390K	$289K	25x	as long as short
Coinbase International PYTH-PERP-INTX	−0.0064%	1h	0.06368	+0.142%	$40K	$18K	25x	as long as short
Aster PYTHUSDT	−0.0001%	4h	0.06361	+0.035%	$22K	$44K	10x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06361	+0.031%	$189K	$19	5x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−1.557%	$553	$220K	5.5x	as long as short
Aevo PYTH-PERP	+0.0040%	1h	0.06360	+0.022%	$23K	—	3x	as long as short
Lighter PYTH	+0.0096%	1h	0.06370	+0.173%	$201K	$198K	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	0.06361	+0.028%	$3K	$56	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06367	+0.129%	$1.9M	$1.5M	5x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	0.06362	+0.047%	$7.6M	$4.8M	50x	as long as short
OKX PYTH-USDT-SWAPlong	+0.0100%	4h	0.06359	long leg	$2.1M	$3.4M	50x
Gate PYTH_USDT	+0.0100%	4h	0.06357	−0.031%	$1.1M	$468K	75x	as long as short
KuCoin PYTHUSDTMshort	+0.0100%	4h	0.06364	+0.079%	$1.5M	$325K	50x
Bitget PYTHUSDT	+0.0100%	4h	0.06360	+0.016%	$2.6M	$2.1M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06360	+0.016%	—	$2.8M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06358	−0.023%	$38K	$27K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06359	+0.005%	$3K	$2K	10x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06357	−0.035%	—	—	20x	as long as short
Backpack PYTH_USDC_PERP	+0.0903%	1h	0.06368	+0.145%	$35K	$92K	10x	as long as short
Deribit PYTH_USDC-PERPETUAL	+0.1165%	1h	0.06370	+0.173%	$10K	$10K	10x	as long as short