Funding arb · Price arb /

PYTH

all PYTH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0302%/8h= −33.1% APRnext payment −$0.38 per $10,000 · paid last 24h —

Price spread now: dYdX against Reya+0.163%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 0.163% dearer against Reya than usual: you sell high and buy low (spread +0.163% now, against zero (this spread has no 7-day history yet)): +$16 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 43 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya PYTHRUSDPERP	0.06285	0.0302	pay 0.0038% / 1h	6m 53s	—	—	20x
Short	dYdX PYTH-USD	0.06295	0	get 0.0000% / 1h	6m 53s	$187K	$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 +0.163%Rate

Funding earned: −$63.51
Price spread: +0.163% → 0.000%: $16.26
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$63.26
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; dYdX: 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 dYdX live order book, 12 min ago	91.50 bp	96.5 bp −$96	212.7 bp −$2,127	295.2 bp −$29.5K	526.2 bp −$263.1K

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
Injective PYTH/USDC PERP	−0.0428%	1h	0.06260	−0.396%	$553	$220K	5.5x	as long as short
Kraken Futures PF_PYTHUSD	−0.0208%	1h	0.06289	+0.060%	$382K	$248K	25x	as long as short
BloFin PYTH-USDT	−0.0105%	4h	0.06289	+0.065%	$420K	$114K	75x	as long as short
Binance PYTHUSDT	−0.0098%	4h	0.06285	+0.003%	$9.0M	$17.0M	75x	as long as short
MEXC PYTH_USDT	−0.0094%	4h	0.06285	+0.002%	$9.2M	$2.3M	125x	as long as short
Deribit PYTH_USDC-PERPETUAL	−0.0068%	1h	0.06289	+0.065%	$10K	$10K	10x	as long as short
Bybit PYTHUSDT	−0.0062%	4h	0.06290	+0.081%	$7.4M	$4.7M	50x	as long as short
Gate PYTH_USDT	−0.0042%	4h	0.06281	−0.062%	$1.1M	$480K	75x	as long as short
dYdX PYTH-USDshort	0.0000%	1h	0.06295	+0.163%	$187K	$19	5x
Aevo PYTH-PERP	+0.0056%	1h	0.06285	+0.002%	$22K	—	3x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PYTHUSDT	+0.0058%	4h	0.06282	−0.042%	$25K	$40K	10x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0080%	1h	0.06431	+2.325%	$40K	$6K	25x	as long as short
Lighter PYTH	+0.0096%	1h	0.06294	+0.145%	$201K	$215K	5x	as long as short
Paradex PYTH-USD-PERP	+0.0099%	8h	0.06277	−0.128%	$3K	$56	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06293	+0.129%	$1.7M	$1.5M	5x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06292	+0.113%	$2.1M	$3.3M	50x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06289	+0.065%	$1.5M	$310K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06289	+0.065%	$2.6M	$2.0M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06287	+0.033%	—	$2.8M	—	as long as short
Backpack PYTH_USDC_PERP	+0.0100%	1h	0.06293	+0.134%	$38K	$88K	10x	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06283	−0.028%	$44K	$22K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06282	−0.040%	$3K	$1K	10x	as long as short
Reya PYTHRUSDPERPlong	+0.0302%	1h	0.06285	long leg	—	—	20x