Psychotic disorders are disabling clinical syndromes characterized by widespread alterations in cortical information processing. Disruption of frontoparietal network (FPN) connectivity has emerged as a common footprint across the psychosis spectrum. Our goal was to characterize the static and dynamic resting-state functional connectivity (FC) of the FPN in antipsychotic-naïve first-episode psychosis (FEP) subjects. We compared the static FC of the FPN in 40 FEP and 40 healthy control (HC) subjects, matched on age, sex, and socioeconomic status. To study the dynamic FC, we measured quasiperiodic patterns (QPPs) that consist of infraslow spatioemporal patterns embedded in the blood oxygen level-dependent signal that repeats over time, exhibiting alternation of high and low activity. Relative to HC, we found functional hypoconnectivity between the right middle frontal gyrus and the right middle temporal gyrus, as well as the left inferior temporal gyrus and the left inferior parietal gyrus in FEP (p <.05, false discovery rate corrected). The correlation of the QPP with all functional scans was significantly stronger for FEP compared to HC, suggesting a greater impact of the QPPs to intrinsic brain activity in psychotic population. Regressing the QPP from the functional scans erased all significant group differences in static FC, suggesting that abnormal connectivity in FEP could result from altered QPP. Our study supports that alterations of cortical information processing are not a function of psychotic chronicity or antipsychotic medication exposure and may be regarded as trait specific. In addition, static connectivity abnormality may be partly related to altered brain network temporal dynamics.