PYTH Funding Rate — live across 13 venues
Perpetual funding · compared across 13 venues · net of estimated fees · updated every few minutesLive annualized PYTH perpetual funding across all 13 venues Perpia tracks. Right now PYTH funding is positive on 12 and negative on 1, ranging from +28.5% on BackPack to -7.7% on OKX — a spread of 36.2%. The widest delta-neutral trade is long OKX / short BackPack at 33.1% net APR.
PYTH funding trend & liquidity
168h of historyAverages are historical funding over the window shown. A current rate near the 7-day average may indicate the spread has persisted; a rate far above it is usually a short-lived spike. OI and volume are the smaller (binding) leg of the best pair — the ceiling on tradeable size.
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Build a route
any two of the 13 venuesThis is the widest route right now. The number is gross: fees, the entry spread and slippage are not in it, and both legs must be tradeable for you. The scanner carries the same pairs net of costs.
Venues: pick the two legs
sorted by rate · 13 venues| Venue | Funding APR ↓ | Interval | Use as |
|---|---|---|---|
| BackPack↗short | +28.5% | every 1h | |
| Bybit↗ | +10.9% | every 4h | |
| Variational↗ | +10.9% | every 4h | |
| Aster↗ | +10.9% | every 4h | |
| Hyperliquid↗ | +10.9% | every 1h | |
| KuCoin↗ | +10.9% | every 4h | |
| Lighter↗ | +10.5% | every 8h | |
| Binance↗ | +7.2% | every 4h | |
| MEXC↗ | +6.8% | every 4h | |
| BingX↗ | +6.8% | every 4h | |
| Bitget↗ | +5.5% | every 4h | |
| Gate.io↗ | +2.2% | every 4h | |
| below — these venues pay the longs: this is the leg you buy | |||
| OKX↗long | −7.7% | every 4h | |
Rates annualized; updated ~every few minutes from live venue data. Venue names link to that exchange's full funding table; ↗ opens the market on the exchange itself. Every spread between these two venues is on the OKX vs BackPack page. 46 pairs scanned for PYTH.
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PYTH — FAQ
Is PYTH funding positive right now?
PYTH perpetual funding is positive on 12 of 13 venues Perpia tracks and negative on 1. The highest is +28.5% on BackPack; the lowest is -7.7% on OKX.
What is the best PYTH funding arbitrage right now?
Go long OKX and short BackPack for about 33.1% net APR after fees — the widest delta-neutral PYTH spread Perpia currently sees.
Which exchange has the highest PYTH funding rate?
BackPack, at +28.5% annualized. Funding shifts continuously, so check the live table above before trading.
How PYTH funding arbitrage works
Funding arbitrage combines opposing positions on two venues — long the one paying the most negative funding, short the one paying the most positive — to reduce directional exposure and capture the difference between their funding payments. Fees, slippage, basis divergence and liquidation risk can reduce the result. See the methodology for how it is measured and the guide for the full walkthrough.
Markets related to PYTH
also quoted on both BackPack and OKXThe same two exchanges you would already have funded for the PYTH trade. Every spread between them is on the BackPack vs OKX page.