Funding arb · Price arb /

PYTH

all PYTH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0166%/8h= −18.2% APRpaid last 24h +0.011%

Price spread now: Deribit against OKX+0.047%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on OKX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Deribit is 0.047% dearer against OKX than usual: you sell high and buy low (spread +0.047% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 23 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PYTH-USDT-SWAP	0.06316	0.0100	pay 0.0050% / 4h	43m 53s	$2.1M	$3.4M	50x
Short	Deribit PYTH_USDC-PERPETUAL	0.06319	−0.0066	pay 0.0008% / 1h	43m 53s	$10K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.047%Rate

Funding earned: −$34.95
Price spread: +0.047% → 0.000%: $4.75
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$47.2
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 3 min ago; Deribit: no order-book sample. 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 OKX live order book, 3 min ago	3.96 bp	18.8 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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
Backpack PYTH_USDC_PERP	−0.0409%	1h	0.06328	+0.187%	$38K	$57K	10x	as long as short
Gate PYTH_USDT	−0.0196%	4h	0.06314	−0.032%	$1.0M	$506K	75x	as long as short
Deribit PYTH_USDC-PERPETUALshort	−0.0066%	1h	0.06319	+0.047%	$10K	$10K	10x
dYdX PYTH-USD	0.0000%	1h	0.06310	−0.098%	$187K	$19	5x	as long as short
Aster PYTHUSDT	+0.0028%	4h	0.06315	−0.021%	$20K	$44K	10x	as long as short
MEXC PYTH_USDT	+0.0032%	4h	0.06318	+0.032%	$10.0M	$2.5M	125x	as long as short
Binance PYTHUSDT	+0.0033%	4h	0.06315	−0.016%	$9.0M	$17.9M	75x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−0.887%	$553	$220K	5.5x	as long as short
BloFin PYTH-USDT	+0.0049%	4h	0.06303	−0.206%	$351K	$81K	75x	as long as short
Aevo PYTH-PERP	+0.0088%	1h	0.06325	+0.139%	$23K	—	3x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter PYTH	+0.0096%	1h	0.06327	+0.174%	$191K	$207K	5x	as long as short
Paradex PYTH-USD-PERP	+0.0100%	8h	0.06304	−0.187%	$3K	—	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06321	+0.087%	$2.0M	$1.6M	5x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	0.06316	0.000%	$7.5M	$4.7M	50x	as long as short
OKX PYTH-USDT-SWAPlong	+0.0100%	4h	0.06316	long leg	$2.1M	$3.4M	50x
KuCoin PYTHUSDTM	+0.0100%	4h	0.06320	+0.063%	$1.5M	$345K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06316	0.000%	$2.7M	$2.2M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06317	+0.016%	—	$2.7M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06314	−0.034%	$38K	$25K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06319	+0.051%	$3K	$2K	10x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0104%	1h	0.06324	+0.127%	$39K	$18K	25x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06320	+0.061%	—	—	20x	as long as short
Kraken Futures PF_PYTHUSD	+0.0414%	1h	0.06323	+0.113%	$385K	$293K	25x	as long as short