Funding arb · Price arb /

PYTH

all PYTH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0202%/8h= −22.2% APRpaid last 24h —

Price spread now: BingX against Reya+0.021%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 BingX

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. BingX is 0.021% dearer against Reya than usual: you sell high and buy low (spread +0.021% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 8 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya PYTHRUSDPERP	0.06302	0.0302	pay 0.0038% / 1h	38m 53s	—	—	20x
Short	BingX PYTH-USDT	0.06303	0.0100	get 0.0050% / 4h	38m 53s	—	$2.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.021%Rate

Funding earned: −$42.51
Price spread: +0.021% → 0.000%: $2.07
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee BingX: 5 bp × 2 orders: −$10
Net: −$56.44
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; BingX: live order book, 10 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 BingX live order book, 10 min ago	3.16 bp	19.5 bp −$19	40.7 bp −$407	118.4 bp −$11.8K	449.6 bp −$224.8K

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
dYdX PYTH-USD	0.0000%	1h	0.06305	+0.049%	$187K	$19	5x	as long as short
Deribit PYTH_USDC-PERPETUAL	0.0000%	1h	0.06311	+0.148%	$10K	$10K	10x	as long as short
Injective PYTH/USDC PERP	+0.0033%	1h	0.06260	−0.662%	$553	$220K	5.5x	as long as short
Binance PYTHUSDT	+0.0070%	4h	0.06301	−0.011%	$8.9M	$19.5M	75x	as long as short
MEXC PYTH_USDT	+0.0070%	4h	0.06299	−0.043%	$10.7M	$2.8M	125x	as long as short
Lighter PYTH	+0.0096%	1h	0.06312	+0.164%	$194K	$221K	5x	as long as short
Aevo PYTH-PERP	+0.0096%	1h	0.06301	−0.011%	$22K	—	3x	as long as short
BloFin PYTH-USDT	+0.0099%	4h	0.06297	−0.074%	$421K	$72K	75x	as long as short
Paradex PYTH-USD-PERP	+0.0100%	8h	0.06291	−0.168%	$3K	—	10x	as long as short
Hyperliquid PYTH	+0.0100%	1h	0.06306	+0.064%	$2.2M	$1.9M	5x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PYTHUSDT	+0.0100%	4h	0.06297	−0.073%	$21K	$46K	10x	as long as short
Bybit PYTHUSDT	+0.0100%	4h	0.06297	−0.074%	$7.5M	$4.9M	50x	as long as short
OKX PYTH-USDT-SWAP	+0.0100%	4h	0.06302	+0.005%	$2.1M	$3.5M	50x	as long as short
Gate PYTH_USDT	+0.0100%	4h	0.06295	−0.106%	$1.0M	$536K	75x	as long as short
KuCoin PYTHUSDTM	+0.0100%	4h	0.06307	+0.084%	$1.5M	$370K	50x	as long as short
Bitget PYTHUSDT	+0.0100%	4h	0.06300	−0.027%	$2.7M	$2.2M	75x	as long as short
BingX PYTH-USDTshort	+0.0100%	4h	0.06303	+0.021%	—	$2.8M	—
Backpack PYTH_USDC_PERP	+0.0100%	1h	0.06307	+0.089%	$35K	$66K	10x	as long as short
Variational Omni PYTH	+0.0100%	4h	0.06309	+0.120%	$40K	$27K	—	as long as short
Orderly PERP_PYTH_USDC_mythos	+0.0100%	4h	0.06301	−0.005%	$2K	$2K	10x	as long as short
Reya PYTHRUSDPERPlong	+0.0302%	1h	0.06302	long leg	—	—	20x
Kraken Futures PF_PYTHUSD	+0.0452%	1h	0.06310	+0.124%	$383K	$309K	25x	as long as short
Coinbase International PYTH-PERP-INTX	+0.0472%	1h	0.06427	+1.988%	$40K	$19K	25x	as long as short