Delineating the neuropathological characteristics across psychiatric disorders is critical for understanding their pathophysiology. The purpose of this study was to investigate common and distinct brain functional abnormalities across psychiatric disorders by using functional stability, a recently developed dynamic functional connectivity approach. Resting-state functional magnetic resonance imaging data were collected from a transdisease sample of healthy controls (n = 115) and individuals with schizophrenia (SZ) (n = 47), bipolar disorder (BD) (n = 44), and attention deficit/hyperactivity disorder (ADHD) (n = 40). Functional stability of each voxel was calculated by measuring the concordance of dynamic functional connectivity over time. Differences in functional stability among the four groups were assessed voxel-wisely. Compared to healthy controls, individuals with SZ demonstrated a distributed pattern of higher functional stability in the bilateral inferior temporal gyrus yet lower stability in the bilateral calcarine sulcus and left insula; individuals with BD only manifested local higher stability in the left inferior temporal gyrus; no differences were found between ADHD and healthy individuals. Notably, individuals with SZ and BD had common higher functional stability in the left inferior temporal gyrus, whereas higher functional stability in the right inferior temporal gyrus and lower stability in the bilateral calcarine sulcus and left insula were unique abnormalities in individuals with SZ. Additionally, direct comparisons between disorders revealed that individuals with SZ showed lower functional stability in the right calcarine sulcus compared to those with BD and higher stability in the left inferior temporal gyrus compared to those with ADHD. However, no significant associations between functional stability and clinical symptoms were observed. Our findings suggest that the functional stability approach has the potential to be extended to the domain of psychiatry and encourage further investigations of shared and unique neuropathology of psychiatric disorders.