Funding arb · Price arb /

PYTH

all PYTH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0302%/8h= −33.1% APRnext payment −$0.38 per $10,000 · paid last 24h —

Price spread now: dYdX against Reya+0.337%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 dYdX

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. dYdX is 0.337% dearer against Reya than usual: you sell high and buy low (spread +0.337% now, against zero (this spread has no 7-day history yet)): +$34 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 3.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya PYTHRUSDPERP	0.06310	0.0302	pay 0.0038% / 1h	6m 09s	—	—	20x
Short	dYdX PYTH-USD	0.06331	0	get 0.0000% / 1h	6m 09s	$188K	$19	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.337%Rate

Funding earned: −$63.51
Price spread: +0.337% → 0.000%: $33.67
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$45.84
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; dYdX: live order book, 8 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 dYdX live order book, 8 min ago	113.82 bp	118.8 bp −$119	253.2 bp −$2,532	459.0 bp −$45.9K	1161.2 bp −$580.6K

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_PYTHUSD	−0.0399%	1h	0.06318	+0.124%	$376K	$264K	25x	as long as short
MEXC PYTH_USDT	−0.0190%	4h	0.06310	+0.002%	$9.4M	$2.4M	125x	as long as short
Binance PYTHUSDT	−0.0188%	4h	0.06314	+0.066%	$9.0M	$17.2M	75x	as long as short
BloFin PYTH-USDT	−0.0165%	4h	0.06324	+0.224%	$420K	$114K	75x	as long as short
Deribit PYTH_USDC-PERPETUAL	−0.0066%	1h	0.06319	+0.145%	$10K	$10K	10x	as long as short
Aster PYTHUSDT	−0.0018%	4h	0.06322	+0.194%	$22K	$44K	10x	as long as short
dYdX PYTH-USDshort	0.0000%	1h	0.06331	+0.337%	$188K	$19	5x
Aevo PYTH-PERP	+0.0032%	1h	0.06315	+0.081%	$23K	—	3x	as long as short
Bybit PYTHUSDT	+0.0033%	4h	0.06316	+0.097%	$7.5M	$4.8M	50x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−0.790%	$553	$220K	5.5x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PYTH_USDT	+0.0048%	4h	0.06318	+0.129%	$1.1M	$477K	75x	as long as short
Lighter PYTH	+0.0096%	1h	0.06324	+0.224%	$200K	$217K	5x	as long as short
Paradex PYTH-USD-PERP	+0.0099%	8h	0.06309	−0.018%	$3K	$56	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06323	+0.207%	$1.7M	$1.5M	5x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06314	+0.066%	$2.1M	$3.4M	50x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06324	+0.224%	$1.5M	$314K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06321	+0.176%	$2.6M	$2.0M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06315	+0.081%	—	$2.8M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06312	+0.028%	$44K	$22K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06314	+0.061%	$3K	$1K	10x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0176%	1h	0.06324	+0.224%	$39K	$6K	25x	as long as short
Reya PYTHRUSDPERPlong	+0.0302%	1h	0.06310	long leg	—	—	20x
Backpack PYTH_USDC_PERP	+0.0513%	1h	0.06323	+0.205%	$36K	$89K	10x	as long as short