Extreme X-ray variability in the luminous quasar PDS 456

We present evidence from Beppo-SAX and XMM-Newton of extreme X-ray variability in the high luminosity radio-quiet quasar PDS 456, the most luminous known AGN at z<0.3. Repeated X-ray flaring is found in PDS 456, over the duration of the 340 ksec long Beppo-SAX observation. The X-ray flux doubles in just 30 ksec, whilst the total energy output of the flaring events is as high as 10^51 erg. Under the assumption of isotropic emission at the Eddington limit, this implies that the size of the X-ray emitting region in PDS 456 is less than 3 Schwarzschild radii, for a 10^9 solar mass black hole. From the rates of change of luminosity observed during the X-ray flares, we calculate lower limits for the radiative efficiency between 0.06 and 0.41, implying that accretion onto a Kerr black hole is likely in PDS 456. We suggest that the rapid variability is from X-ray flares produced through magnetic reconnection above the disc and calculate that the energetics and timescale of the flares are plausible if the quasar is accreting near to the maximum Eddington rate. A similar mechanism may account for the extreme rapid X-ray variability observed in many Narrow Line Seyfert 1s. In the case of PDS 456, we show that the X-ray flaring could be reproduced through a self-induced cascade of about 1000 individual flares over a timescale of the order 1 day.