Introducing Pyth Pro X: Institutional Market Data Built for Exchanges

Pyth Pro X is an institutional market data subscription built specifically for exchanges operating multi-asset markets. Already trusted by leading venues including Coinbase, Bitget, BitMEX, LMAX, Crypto.com, TradeXYZ, and DreamCash, Pyth Pro X is powering the next generation of global trading infrastructure.

Built specifically for exchange workflows, Pyth Pro X delivers real-time, cross-asset pricing, collateral valuation, liquidations, and new market launches without exchange fees, redistribution barriers, or vendor lock-in.

Right now, the world's top trading venues are launching equity perpetuals, supporting cross-margin frameworks, and running liquidation engines that operate continuously across volatile, global markets. At the same time, most exchange infrastructure still relies on fragmented vendors, asset-specific feeds, and restrictive licenses that slow product launches and increase operational risk.

Pyth Pro X replaces that complexity with a single price layer built for modern exchange operations: one subscription unlocks countless asset classes and geographies.

Here's everything you need to know:

The Exchange Stack for Multi-Asset Trading

Operating an exchange across multiple asset classes requires consistency, accuracy, and the ability to scale across new symbols without rebuilding core systems every time a new product goes live.

Pyth Pro X is designed to sit at the center of the exchange stack, providing a unified pricing layer that works across:

• Crypto spot and derivatives

• Equity and equity-linked products

• Indices, FX, and structured markets

• Cross-margin and multi-asset collateral frameworks

Instead of stitching together multiple vendors for different asset classes, exchanges integrate once and gain access to a continuously expanding universe of markets.

Built for Price Integrity at Scale

At the core of Pyth Pro X is a focus on price integrity; specifically, how prices are formed, validated, and delivered under real market conditions.

Pyth Pro X delivers:

• 96%+ accuracy relative to the NBBO

• Sub-100ms end-to-end latency

• 2,500+ price feeds across all major asset classes

• 24/5 equity coverage for 50+ U.S. stocks

Prices are sourced directly from leading market participants and institutions, preserving the connection between price formation and execution. This approach provides exchanges with prices that reflect real market depth and conditions, something that is critical for liquidation engines, risk systems, and margin calculations.

To date, Pyth has secured over $2.4 trillion in cumulative trading volume, supporting high-throughput markets at global scale.

Trusted by Leading Exchanges

Pyth Pro X is already used by some of the world's most active trading venues, including:

Coinbase, Bitget, BitMEX, LMAX, Crypto.com, TradeXYZ, and DreamCash.

These exchanges rely on Pyth Pro X to price everything from crypto to equities, supporting live markets, new product launches, and complex risk frameworks without the overhead of traditional market data licensing.

"Coinbase Markets is redefining the institutional experience through unified technology and borderless access, all while maintaining the regulatory clarity that remains our hallmark," said Marc Zeitouni, CEO of Coinbase International Exchange. "By integrating Pyth Pro X, we are pairing our global scale with local precision, ensuring our platform delivers region-specific solutions that meet the distinct needs of global markets. This partnership provides the high-fidelity data foundation required to support the depth and liquidity institutions demand, allowing us to scale a truly modern, multi-asset trading environment with total confidence."

"As BitMEX scales its TradFi perpetual swap offerings, Pyth Pro X has become a foundational component of our derivatives infrastructure," said Samuel Sandiford, Head of Product and Institutional Business at BitMEX. "Pyth Pro X provides a highly reliable, holistic pricing source for Real World Assets, enabling us to value both crypto and RWA collateral through a single, unified feed. This level of integration is essential for supporting sophisticated features like Multi Asset Margining and ensuring our risk frameworks remain robust in a 24/7 trading environment."

"CASH markets are built on the premise that anyone should be able to trade real-world assets without barriers. Pyth Pro X aligns perfectly with that vision; reliable, institutional-grade pricing across equities, commodities, and beyond is exactly the infrastructure that makes deep, liquid CASH markets possible," said Marco van den Heuvel, Co-Founder at BEAM. "We're excited to see Pyth stepping up as the data layer for the next generation of exchange infrastructure."

Launch New Markets Faster

Legacy market data systems slow exchanges down. New assets often require months of negotiations, bespoke integrations, and restrictive redistribution agreements.

Pyth Pro X removes those constraints.

With a single integration, exchanges can:

• Launch new markets in days, not months

• Expand into new asset classes without rebuilding infrastructure

• Operate without exchange fees or redistribution barriers

• Access transparent subscription tiers that replace opaque licensing contracts and hidden fees

Market Data Rebuilt for Modern Exchanges

The market data economy was designed for a different era: one where access was gated, pricing was opaque, and innovation moved slowly. That model doesn't work for global, always-on markets.

Pyth Pro X represents a shift through a single price layer designed to deliver the price of everything, everywhere.

Pyth Pro X builds on the success of Pyth Pro, which surpassed $1 million in ARR in its first month, and Pyth's proven foundation of powering over $2.4 trillion in cumulative trading volume, distributing real-time data across more than 100 blockchains, and serving over 600 applications in DeFi and traditional finance.

To learn more about Pyth Pro X and how leading exchanges are using it, visit the Pyth Pro X landing page or get in touch with the Pyth team.