Funding arb · Price arb /

PYTH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0332%/8h= −36.4% APRpaid last 24h —

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

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

Long on Reya Short on Binance

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

The price spread pays, funding is against you. Binance is 0.060% dearer against Reya than usual: you sell high and buy low (spread +0.060% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 15 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya PYTHRUSDPERP	0.06330	0.0302	pay 0.0038% / 1h	43m 23s	—	—	20x
Short	Binance PYTHUSDT	0.06334	−0.0030	pay 0.0015% / 4h	1h 43m	$9.1M	$17.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Reya. 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 ReyabpFee BinancebpOrdersPrice spread, now +0.060%Rate

Funding earned: −$69.71
Price spread: +0.060% → 0.000%: $6.02
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Binance: 5 bp × 2 orders: −$10
Net: −$79.69
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Binance: live order book, 12 min ago. 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 Reya no order-book sample	—	—	—	—	—
Sell Binance live order book, 12 min ago	1.58 bp	15.4 bp −$15	35.8 bp −$358	254.5 bp −$25.4K	doesn't fit

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
Backpack PYTH_USDC_PERP	−0.0419%	1h	0.06330	0.000%	$39K	$50K	10x	as long as short
Gate PYTH_USDT	−0.0220%	4h	0.06322	−0.129%	$1.0M	$498K	75x	as long as short
MEXC PYTH_USDT	−0.0034%	4h	0.06333	+0.044%	$9.5M	$2.3M	125x	as long as short
Binance PYTHUSDTshort	−0.0030%	4h	0.06334	+0.060%	$9.1M	$17.8M	75x
Aster PYTHUSDT	0.0000%	4h	0.06333	+0.041%	$20K	$46K	10x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06328	−0.038%	$188K	$19	5x	as long as short
BloFin PYTH-USDT	+0.0019%	4h	0.06300	−0.477%	$425K	$89K	75x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−1.109%	$553	$220K	5.5x	as long as short
Aevo PYTH-PERP	+0.0072%	1h	0.06339	+0.142%	$23K	—	3x	as long as short
Lighter PYTH	+0.0096%	1h	0.06333	+0.044%	$190K	$204K	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	0.06327	−0.051%	$3K	—	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06338	+0.117%	$2.0M	$1.7M	5x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	0.06335	+0.076%	$7.5M	$4.8M	50x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06337	+0.108%	$2.1M	$3.4M	50x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06334	+0.060%	$1.5M	$342K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06333	+0.044%	$2.7M	$2.1M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06331	+0.013%	—	$2.7M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06309	−0.328%	$38K	$26K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06337	+0.109%	$3K	$2K	10x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0176%	1h	0.06369	+0.613%	$39K	$18K	25x	as long as short
Kraken Futures PF_PYTHUSD	+0.0302%	1h	0.06347	+0.272%	$387K	$291K	25x	as long as short
Reya PYTHRUSDPERPlong	+0.0302%	1h	0.06330	long leg	—	—	20x
Deribit PYTH_USDC-PERPETUAL	+0.0696%	1h	0.06347	+0.266%	$10K	$10K	10x	as long as short