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 +0.021%

Price spread now: OKX against MEXC0.000%7-day average +0.040% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$440.438% of the position

Long on MEXC Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.093%+$9 on $10k

Price spread, last 7 days+0.071%+$7 · spread now 0.000%, 7d avg +0.040%

Together, before fees+0.164%+$16 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 0.040% cheaper against MEXC than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.040%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PYTH_USDT	0.06209	0.0100	pay 0.0050% / 4h	1h 08m	$11.0M	$2.9M	125x
Short	OKX PYTH-USDT-SWAP	0.06209	0.0100	get 0.0050% / 4h	1h 08m	$2.0M	$3.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against MEXC. 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 MEXCbpFee OKXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.040%: −$3.99
Slippage, 4 orders: −$33.81
Fee MEXC: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$47.81
Costs to cover: 0.438%
Break-even: never at this rate

Slippage from MEXC: live order book, 2 min ago; OKX: live order book, 2 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 MEXC live order book, 2 min ago	2.41 bp	5.3 bp −$5	10.1 bp −$101	88.4 bp −$8,838	196.2 bp −$98.1K
Sell OKX live order book, 2 min ago	1.61 bp	17.1 bp −$17	114.3 bp −$1,143	doesn't fit	doesn't fit

PYTH on 23 exchanges

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	0.06220	+0.177%	$10K	—	10x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	+0.821%	$553	$220K	5.5x	as long as short
dYdX PYTH-USD	+0.0059%	1h	0.06210	+0.018%	$184K	$3	5x	as long as short
BloFin PYTH-USDT	+0.0094%	4h	0.06202	−0.113%	$424K	$75K	75x	as long as short
Lighter PYTH	+0.0096%	1h	0.06215	+0.097%	$189K	$192K	5x	as long as short
Paradex PYTH-USD-PERP	+0.0099%	8h	0.06203	−0.090%	$3K	—	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06214	+0.082%	$2.1M	$2.0M	5x	as long as short
Aster PYTHUSDT	+0.0100%	4h	0.06214	+0.077%	$19K	$47K	10x	as long as short
Binance PYTHUSDT	+0.0100%	4h	0.06208	−0.016%	$8.8M	$18.5M	75x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	0.06210	+0.016%	$7.4M	$4.4M	50x	as long as short

Show all 23 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PYTH-USDT-SWAPshort	+0.0100%	4h	0.06209	0.000%	$2.0M	$3.4M	50x
Gate PYTH_USDT	+0.0100%	4h	0.06203	−0.097%	$1.0M	$453K	75x	as long as short
MEXC PYTH_USDTlong	+0.0100%	4h	0.06209	long leg	$11.0M	$2.9M	125x
KuCoin PYTHUSDTM	+0.0100%	4h	0.06212	+0.048%	$1.5M	$353K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06210	+0.016%	$2.6M	$2.2M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06209	0.000%	—	$2.8M	—	as long as short
Backpack PYTH_USDC_PERP	+0.0100%	1h	0.06219	+0.167%	$37K	$53K	10x	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06211	+0.032%	$39K	$25K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06210	+0.018%	$2K	$2K	10x	as long as short
Aevo PYTH-PERP	+0.0104%	1h	0.06211	+0.029%	$22K	—	3x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06208	−0.016%	—	—	20x	as long as short
Kraken Futures PF_PYTHUSD	+0.0384%	1h	0.06218	+0.146%	$377K	$226K	25x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0640%	1h	0.06330	+1.949%	$39K	$20K	25x	as long as short