Funding arb · Price arb /

PYTH

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: OKX against Reya+0.054%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 OKX

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. OKX is 0.054% dearer against Reya than usual: you sell high and buy low (spread +0.054% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 21 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya PYTHRUSDPERP	0.06326	0.0302	pay 0.0038% / 1h	4m 14s	—	—	20x
Short	OKX PYTH-USDT-SWAP	0.06329	0.0100	get 0.0050% / 4h	4m 14s	$2.1M	$3.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.054%Rate

Funding earned: −$42.51
Price spread: +0.054% → 0.000%: $5.35
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee OKX: 5 bp × 2 orders: −$10
Net: −$53.16
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; OKX: live order book, 3 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 OKX live order book, 3 min ago	3.17 bp	17.1 bp −$17	96.1 bp −$961	doesn't fit	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
Kraken Futures PF_PYTHUSD	−0.0399%	1h	0.06328	+0.038%	$377K	$264K	25x	as long as short
MEXC PYTH_USDT	−0.0196%	4h	0.06323	−0.041%	$9.4M	$2.4M	125x	as long as short
Binance PYTHUSDT	−0.0196%	4h	0.06323	−0.041%	$9.0M	$17.2M	75x	as long as short
BloFin PYTH-USDT	−0.0189%	4h	0.06312	−0.215%	$420K	$114K	75x	as long as short
Aster PYTHUSDT	−0.0023%	4h	0.06331	+0.088%	$22K	$44K	10x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06327	+0.020%	$188K	$19	5x	as long as short
Deribit PYTH_USDC-PERPETUAL	0.0000%	1h	0.06330	+0.069%	$10K	$10K	10x	as long as short
Aevo PYTH-PERP	+0.0032%	1h	0.06325	−0.005%	$23K	—	3x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−1.037%	$553	$220K	5.5x	as long as short
Bybit PYTHUSDT	+0.0034%	4h	0.06325	−0.010%	$7.5M	$4.8M	50x	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	+0.0046%	4h	0.06318	−0.120%	$1.1M	$477K	75x	as long as short
Lighter PYTH	+0.0096%	1h	0.06332	+0.101%	$201K	$217K	5x	as long as short
Paradex PYTH-USD-PERP	+0.0099%	8h	0.06317	−0.129%	$3K	$56	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06333	+0.123%	$1.7M	$1.5M	5x	as long as short
OKX PYTH-USDT-SWAPshort	+0.0100%	4h	0.06329	+0.054%	$2.1M	$3.4M	50x
KuCoin PYTHUSDTM	+0.0100%	4h	0.06327	+0.022%	$1.5M	$314K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06330	+0.069%	$2.6M	$2.0M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06325	−0.010%	—	$2.8M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06312	−0.221%	$44K	$22K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06325	−0.011%	$3K	$1K	10x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0176%	1h	0.06324	−0.026%	$39K	$6K	25x	as long as short
Reya PYTHRUSDPERPlong	+0.0302%	1h	0.06326	long leg	—	—	20x
Backpack PYTH_USDC_PERP	+0.0502%	1h	0.06332	+0.101%	$36K	$89K	10x	as long as short