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: BingX against OKX+0.047%7-day average −0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$720.721% of the position

Long on OKX Short on BingX

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−0.077%−$8 · spread now +0.047%, 7d avg −0.014%

Together, before fees−0.077%−$8 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: BingX is 0.061% dearer against OKX than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PYTH-USDT-SWAP	0.06365	0.0100	pay 0.0050% / 4h	1h 31m	$2.1M	$3.4M	50x
Short	BingX PYTH-USDT	0.06368	0.0100	get 0.0050% / 4h	1h 31m	—	$2.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.047%Rate

Funding earned: $0
Price spread: +0.047% → −0.014%: $6.07
Slippage, 4 orders: −$52.08
Fee OKX: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$66.01
Costs to cover: 0.721%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; BingX: live order book, 3 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, 1 min ago	3.15 bp	14.5 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 3 min ago	3.15 bp	19.9 bp −$20	50.0 bp −$500	213.8 bp −$21.4K	453.9 bp −$227.0K

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	−0.0384%	1h	0.06361	−0.064%	$39K	$50K	10x	as long as short
Gate PYTH_USDT	−0.0230%	4h	0.06358	−0.110%	$1.0M	$500K	75x	as long as short
BloFin PYTH-USDT	−0.0042%	4h	0.06358	−0.110%	$426K	$88K	75x	as long as short
Binance PYTHUSDT	−0.0014%	4h	0.06368	+0.051%	$9.1M	$17.8M	75x	as long as short
MEXC PYTH_USDT	−0.0014%	4h	0.06367	+0.031%	$9.5M	$2.5M	125x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06366	+0.011%	$189K	$19	5x	as long as short
Aster PYTHUSDT	+0.0010%	4h	0.06368	+0.042%	$20K	$46K	10x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−1.650%	$553	$220K	5.5x	as long as short
Aevo PYTH-PERP	+0.0080%	1h	0.06370	+0.079%	$23K	—	3x	as long as short
Lighter PYTH	+0.0096%	1h	0.06376	+0.173%	$192K	$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	0.06366	+0.016%	$3K	—	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06377	+0.182%	$2.0M	$1.7M	5x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	0.06370	+0.079%	$7.6M	$4.8M	50x	as long as short
OKX PYTH-USDT-SWAPlong	+0.0100%	4h	0.06365	long leg	$2.1M	$3.4M	50x
KuCoin PYTHUSDTM	+0.0100%	4h	0.06368	+0.047%	$1.5M	$342K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06372	+0.110%	$2.7M	$2.2M	75x	as long as short
BingX PYTH-USDTshort	+0.0100%	4h	0.06368	+0.047%	—	$2.7M	—
Variational Omni PYTH	+0.0100%	4h	0.06336	−0.451%	$38K	$26K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06368	+0.049%	$3K	$2K	10x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0176%	1h	0.06369	+0.063%	$39K	$18K	25x	as long as short
Kraken Futures PF_PYTHUSD	+0.0300%	1h	0.06377	+0.188%	$389K	$291K	25x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06368	+0.045%	—	—	20x	as long as short
Deribit PYTH_USDC-PERPETUAL	+0.0377%	1h	0.06385	+0.314%	$10K	$10K	10x	as long as short