Funding arb · Price arb /

PYTH

all PYTH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.018%

Price spread now: OKX against Bybit+0.063%7-day average −0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$96as in the Funding arb table

Net, price: spread back to 7d avg − costs−$95as in the Price arb table

costs, in and out, $10k−$1021.018% of the position

Long on Bybit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.058%+$6 on $10k

Price spread, last 7 days−0.045%−$4 · spread now +0.063%, 7d avg −0.004%

Together, before fees+0.013%+$1 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: OKX is 0.067% dearer against Bybit than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit PYTHUSDT	0.06306	0.0100	pay 0.0050% / 4h	3h 49m	$7.5M	$5.0M	50x
Short	OKX PYTH-USDT-SWAP	0.06310	0.0100	get 0.0050% / 4h	3h 49m	$2.1M	$3.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Bybit. 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 BybitbpFee OKXbpOrdersPrice spread, now +0.063%Rate

Funding earned: $0
Price spread: +0.063% → −0.004%: $6.72
Slippage, 4 orders: −$80.85
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee OKX: 5 bp × 2 orders: −$10
Net: −$95.13
Costs to cover: 1.018%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; OKX: 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 Bybit live order book, 4 min ago	3.18 bp	33.3 bp −$33	92.5 bp −$925	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	3.18 bp	17.4 bp −$17	138.5 bp −$1,385	doesn't fit	doesn't fit

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
Deribit PYTH_USDC-PERPETUAL	0.0000%	1h	0.06310	+0.063%	$10K	$10K	10x	as long as short
dYdX PYTH-USD	+0.0002%	1h	0.06312	+0.095%	$187K	$19	5x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−0.729%	$553	$220K	5.5x	as long as short
BloFin PYTH-USDT	+0.0092%	4h	0.06297	−0.143%	$429K	$72K	75x	as long as short
Lighter PYTH	+0.0096%	1h	0.06316	+0.159%	$195K	$214K	5x	as long as short
Paradex PYTH-USD-PERP	+0.0100%	8h	0.06305	−0.017%	$3K	—	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06312	+0.101%	$2.2M	$1.9M	5x	as long as short
Aster PYTHUSDT	+0.0100%	4h	0.06303	−0.054%	$21K	$47K	10x	as long as short
Binance PYTHUSDT	+0.0100%	4h	0.06304	−0.025%	$9.1M	$19.8M	75x	as long as short
Bybit PYTHUSDTlong	+0.0100%	4h	0.06306	long leg	$7.5M	$5.0M	50x

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PYTH-USDT-SWAPshort	+0.0100%	4h	0.06310	+0.063%	$2.1M	$3.6M	50x
Gate PYTH_USDT	+0.0100%	4h	0.06308	+0.032%	$1.0M	$508K	75x	as long as short
MEXC PYTH_USDT	+0.0100%	4h	0.06306	0.000%	$10.5M	$2.7M	125x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06307	+0.016%	$1.5M	$371K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06307	+0.016%	$2.7M	$2.3M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06305	−0.016%	—	$2.8M	—	as long as short
Backpack PYTH_USDC_PERP	+0.0100%	1h	0.06315	+0.140%	$35K	$60K	10x	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06308	+0.039%	$40K	$27K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06306	+0.002%	$2K	$2K	10x	as long as short
Aevo PYTH-PERP	+0.0104%	1h	0.06310	+0.063%	$23K	—	3x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06307	+0.008%	—	—	20x	as long as short
Kraken Futures PF_PYTHUSD	+0.0467%	1h	0.06313	+0.104%	$383K	$301K	25x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0536%	1h	0.06427	+1.919%	$40K	$19K	25x	as long as short