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: KuCoin against OKX+0.093%7-day average +0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$505as in the Funding arb table

Net, price: spread back to 7d avg − costs−$498as in the Price arb table

costs, in and out, $10k−$5055.051% of the position

Long on OKX Short on KuCoin

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−0.097%−$10 · spread now +0.093%, 7d avg +0.024%

Together, before fees−0.096%−$10 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: KuCoin is 0.069% dearer against OKX than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PYTH-USDT-SWAP	0.06442	0.0100	pay 0.0050% / 4h	18m 19s	$2.1M	$3.5M	50x
Short	KuCoin PYTHUSDTM	0.06448	0.0100	get 0.0050% / 4h	18m 19s	$1.5M	$348K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.093%Rate

Funding earned: $0
Price spread: +0.093% → +0.024%: $6.91
Slippage, 4 orders: −$483.15
Fee OKX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$498.23
Costs to cover: 5.051%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; KuCoin: 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, 4 min ago	4.66 bp	20.0 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	12.40 bp	116.0 bp −$116	696.3 bp −$6,963	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
Gate PYTH_USDT	−0.0118%	4h	0.06439	−0.047%	$1.1M	$514K	75x	as long as short
Deribit PYTH_USDC-PERPETUAL	−0.0061%	1h	0.06439	−0.047%	$10K	$10K	10x	as long as short
Backpack PYTH_USDC_PERP	−0.0016%	1h	0.06464	+0.345%	$38K	$59K	10x	as long as short
dYdX PYTH-USD	0.0000%	1h	0.06464	+0.339%	$192K	$19	5x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−2.825%	$553	$220K	5.5x	as long as short
BloFin PYTH-USDT	+0.0047%	4h	0.06448	+0.093%	$431K	$81K	75x	as long as short
MEXC PYTH_USDT	+0.0060%	4h	0.06433	−0.140%	$10.5M	$2.7M	125x	as long as short
Binance PYTHUSDT	+0.0065%	4h	0.06440	−0.031%	$9.2M	$18.2M	75x	as long as short
Aster PYTHUSDT	+0.0073%	4h	0.06448	+0.095%	$21K	$44K	10x	as long as short
Lighter PYTH	+0.0096%	1h	0.06451	+0.140%	$193K	$210K	5x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PYTH-PERP	+0.0096%	1h	0.06437	−0.073%	$23K	—	3x	as long as short
Paradex PYTH-USD-PERP	+0.0100%	8h	0.06438	−0.055%	$3K	—	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06449	+0.112%	$2.3M	$1.8M	5x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	0.06441	−0.016%	$7.6M	$4.8M	50x	as long as short
OKX PYTH-USDT-SWAPlong	+0.0100%	4h	0.06442	long leg	$2.1M	$3.5M	50x
KuCoin PYTHUSDTMshort	+0.0100%	4h	0.06448	+0.093%	$1.5M	$348K	50x
Bitget PYTHUSDT	+0.0100%	4h	0.06441	−0.016%	$2.8M	$2.2M	75x	as long as short
BingX PYTH-USDT	+0.0100%	4h	0.06445	+0.047%	—	$2.7M	—	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06443	+0.020%	$39K	$25K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06437	−0.078%	$2K	$2K	10x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0104%	1h	0.06474	+0.497%	$40K	$19K	25x	as long as short
Reya PYTHRUSDPERP	+0.0302%	1h	0.06436	−0.088%	—	—	20x	as long as short
Kraken Futures PF_PYTHUSD	+0.0406%	1h	0.06442	+0.006%	$393K	$288K	25x	as long as short