Funding arb · Price arb /

PYTH

all PYTH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0202%/8h= +22.2% APRpaid last 24h —

Price spread now: Reya against OKX−0.283%7-day average — · you buy dearer than you sell

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

Long on OKX 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 0.283% cheaper against OKX than usual: you would sell low and buy high (spread −0.283% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$28 on $10k: about 4.7 days of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PYTH-USDT-SWAP	0.06441	0.0100	pay 0.0050% / 4h	3h 16m	$2.1M	$3.4M	50x
Short	Reya PYTHRUSDPERP	0.06423	0.0302	get 0.0038% / 1h	16m 15s	—	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.283%Rate

Funding earned: $42.51
Price spread: −0.283% → 0.000%: −$28.3
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$1.79
Costs to cover: 0.160%
Break-even: 7.3 days

Slippage unknown: OKX: live order book, 1 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 OKX live order book, 1 min ago	1.56 bp	22.0 bp −$22	doesn't fit	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
Binance PYTHUSDT	−0.0139%	4h	0.06436	−0.078%	$9.3M	$17.5M	75x	as long as short
MEXC PYTH_USDT	−0.0138%	4h	0.06432	−0.140%	$9.8M	$2.4M	125x	as long as short
Kraken Futures PF_PYTHUSD	−0.0135%	1h	0.06445	+0.065%	$396K	$291K	25x	as long as short
BloFin PYTH-USDT	−0.0094%	4h	0.06399	−0.652%	$429K	$110K	75x	as long as short
Coinbase International PYTH-PERP-INTX	−0.0064%	1h	0.06415	−0.404%	$40K	$18K	25x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06424	−0.264%	$191K	$19	5x	as long as short
Aster PYTHUSDT	+0.0010%	4h	0.06422	−0.291%	$22K	$44K	10x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−2.810%	$553	$220K	5.5x	as long as short
Aevo PYTH-PERP	+0.0048%	1h	0.06430	−0.171%	$23K	—	3x	as long as short
Lighter PYTH	+0.0096%	1h	0.06445	+0.062%	$202K	$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	0.06425	−0.242%	$3K	—	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06433	−0.129%	$1.9M	$1.5M	5x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	0.06441	0.000%	$7.7M	$4.8M	50x	as long as short
OKX PYTH-USDT-SWAPlong	+0.0100%	4h	0.06441	long leg	$2.1M	$3.4M	50x
Gate PYTH_USDT	+0.0100%	4h	0.06422	−0.295%	$1.1M	$473K	75x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06438	−0.047%	$1.5M	$325K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06437	−0.062%	$2.7M	$2.1M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06423	−0.279%	—	$2.8M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06426	−0.233%	$39K	$27K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06425	−0.250%	$3K	$2K	10x	as long as short
Deribit PYTH_USDC-PERPETUAL	+0.0216%	1h	0.06434	−0.109%	$10K	$10K	10x	as long as short
Reya PYTHRUSDPERPshort	+0.0302%	1h	0.06423	−0.283%	—	—	20x
Backpack PYTH_USDC_PERP	+0.0926%	1h	0.06419	−0.346%	$36K	$91K	10x	as long as short