24/7 Finance Needs 24/7 Price Infrastructure. Introducing Pyth Indices

Markets don’t close anymore, so there’s no more time to “touch grass.” Pyth is building toward an always-on market data platform that can price everything, around the clock, starting with proprietary 24/7 indices across U.S. equities, oil, metals, and thematic baskets co-developed with MarketVector Indexes, a VanEck company. These indices are going live with Coinbase, Kraken, Nado, and dYdX.

Markets Don't Close Anymore

There used to be a simple rhythm: markets closed, the week ended, and you could step away, touch grass, and come back when the bell rang. But that rhythm is gone.

Today, the biggest perpetual exchanges list equity, commodity, and FX perps and keep them open around the clock. Prediction markets run continuously. Tokenized stocks trade on weekends. The trading is already happening.

But when trading never stops, one thing becomes non-negotiable: pricing that never stops either. If the market keeps moving while the old reference points are offline, there’s no true “pause” button. When a weekend oil contract needs a mark price at 3am on a Sunday, the exchange has two options: price it off its own orderbook, or build custom logic internally. Neither is an independent reference. Both create risk.

Pyth Indices closes that gap.

Pyth Has Been Here Before

This is not Pyth's first move into extended-hours pricing. Pyth is the first and leading provider for 24/5 feeds for U.S. equities, through an exclusive collaboration with Blue Ocean ATS. This enabled protocols and exchanges to get access to continuous U.S. equity pricing long before the broader market started demanding it.

24/5 feeds for equities were the first step. 24/7 indices across every major asset class are the next.

What Pyth Indices Are

Pyth Indices are proprietary 24/7 products constructed from Pyth's price feeds. Each index has a defined basket, custom methodology, and runs continuously, 24/7.

The launch includes:

• Oil: WTI and BRENT

• U.S. Equities: NVDA, TSLA, AAPL, MSFT, GOOGL, INTC, HOOD, MSTR, CRCL

• Metals: Gold and Silver

• Coinbase Equity Index Futures: AI10, Defense10, China10, Tech100 (co-developed with MarketVector)

Single-name and single-asset indices, including oil, equities, and metals, are built entirely in-house using Pyth's feeds and proprietary methodology. The Coinbase equity index futures, as the first multi-asset baskets in the suite, are co-developed with MarketVector Indexes. The Pyth and MarketVector partnership will extend to additional basket indices based on demand.

Each index is a standalone product with a published methodology.

Why Pyth Can Build These

Over 125 institutions, including leading trading firms, exchanges, and market makers, publish first-party prices directly to the network across equities, metals, FX, and commodities. Index construction starts at the aggregation origin, not downstream from intermediaries.

This matters for 24/7 indices because the network is not bound to any single exchange's hours. When traditional venues close, Pyth can source from where real price discovery happens.

Launch Partners

Pyth Indices go live with launch partners who are building the next generation of 24/7 financial markets.

Coinbase is using a suite of proprietary equity index futures (AI10, Defense10, China10, Tech100) developed using the Pyth and MarketVector index framework. These products represent the first multi-asset baskets available through Pyth Indices, bringing institutional-grade index methodology and governance to thematic equity exposure.

"Institutional-grade, 24/7 markets are becoming the standard. As this shift continues, the demand for continuous pricing across equities and commodities will only accelerate. Coinbase has been at the forefront of this evolution, and our growing share of the derivatives market is a direct reflection of that commitment. Tools like Pyth Indices help fill the critical infrastructure gaps that make this next era of markets possible." — Boris Ilyevsky, Head of Derivatives at Coinbase

Kraken is integrating Pyth Indices to support continuous pricing across its derivatives and trading products, extending market access beyond traditional trading hours.

"Pyth Indices give us a continuous benchmark for assets where the underlying market doesn't trade round the clock. That matters because Kraken is launching perpetual contracts on oil, and a perpetual needs a 24/7 reference price to function. Oil is one of the markets active traders are watching most closely right now, and the launch lets us offer clients accurate exposure to it alongside the crypto, equity, and commodity exposure they already trade on Kraken Pro.” — John Palmer, Global Head of Derivatives at Kraken

dYdX and Nado are launching perpetual contracts priced on the Pyth 24/7 Oil Index, providing an independent multi-source reference price rather than relying solely on exchange order book activity.

MarketVector Brings the Index Framework

Multi-asset basket indices require institutional governance, methodology oversight, and benchmark administration capabilities that go beyond traditional crypto market infrastructure. For these products, Pyth works with MarketVector Indexes, a VanEck company and regulated benchmark administrator. MarketVector provides index construction methodology and governance, while Pyth provides the underlying market data and continuous pricing infrastructure.

As Josh Kaplan, Head of Research & Investment Strategy at MarketVector Indexes, noted, "The partnership with Pyth gives us the data foundation to support reliable near-continuous pricing." This combination of institutional index governance and direct publisher-sourced market data enables index products designed for modern, always-on markets.

"Extending our thematic equity expertise into 24/5 infrastructure is not simply a technical upgrade — it is a rethinking of what 'round-the-clock’ price discovery looks like. The partnership with Pyth gives us the data foundation to support reliable, near-continuous pricing, and Coinbase's perpetual futures platform is the ideal first proof of concept for what we believe will be a much broader market.” — Josh Kaplan, Head of Research & Investment Strategy at MarketVector Indexes

This combination of institutional index governance and direct publisher-sourced market data enables index products designed for modern, always-on markets.

The first products built through this framework are the AI10, Defense10, China10, and Tech100 equity index futures available through Coinbase. Additional basket products may be introduced over time.

A First for the Market

Pyth pioneered continuous pricing for traditional assets with its 24/7 Oil Index. Building on that foundation, Pyth Indices now extends the same methodology across equities, metals, and multi-asset baskets. For multi-asset baskets, the joint Pyth and MarketVector framework brings the same continuous pricing approach to thematic and regulated index products.

What's Next

Beyond the asset categories live today, Pyth Indices will expand into thematic products, cross-asset baskets, and custom and white-label partner builds. Turnaround on custom indices is days to weeks, not quarters.

Get Access

Institutional buyers, exchange partners, and fund issuers can request access to existing indices or discuss custom builds here.