Funding you earn now, next payment 00:00 UTC−0.0353%/8h= −38.7% APRnext payment −$1.77 per $10,000 · paid last 24h −0.009%
Price spread now: Bybit against Binance−0.194%7-day average −0.049% · you buy dearer than you sell
Net, funding: paid 7d − costs−$109as in the Funding arb table
Net, price: spread back to 7d avg − costs−$116as in the Price arb table
costs, in and out, $10k−$1011.010% of the position
Funding, last 7 days−0.078%−$8 on $10k
+Price spread, last 7 days+0.208%+$21 · spread now −0.194%, 7d avg −0.049%
=Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Bybit is 0.145% cheaper against Binance than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.049%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.078% in total (about -4.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.77 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance SKYUSDT | 0.07199 | 0.0100 | pay 0.0050% / 4h | 2h 40m | $16.6M | $9.5M | 75x |
| Short | Bybit SKYUSDT | 0.07185 | −0.0253 | pay 0.0127% / 4h | 2h 40m | $7.9M | $3.4M | 25x |
Binance SKYUSDT
Bybit SKYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Binance. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$74.23
- Price spread: −0.194% → −0.049%
- −$14.52
- Slippage, 4 orders
- −$80.05
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$189.8
- Costs to cover
- 1.010%
- Break-even
- never at this rate
Slippage from Binance: live order book, 16 min ago; Bybit: live order book, 3 min ago.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Binance live order book, 16 min ago | 0.69 bp | 17.3 bp −$17 | 51.6 bp −$516 | 347.9 bp −$34.8K | doesn't fit |
| Sell Bybit live order book, 3 min ago | 3.48 bp | 32.2 bp −$32 | 256.4 bp −$2,564 | doesn't fit | doesn't fit |
SKY on 18 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni SKY | −0.0621% | 4h | 0.07188 | −0.159% | $207K | $94K | — | as long as short |
| Bybit SKYUSDTshort | −0.0253% | 4h | 0.07185 | −0.194% | $7.9M | $3.4M | 25x | |
| Injective SKY/USDC PERP | +0.0033% | 1h | 0.07254 | +0.764% | $396 | $184K | 12x | as long as short |
| Lighter SKY | +0.0096% | 1h | 0.07199 | +0.006% | $189K | $163K | 10x | as long as short |
| Nado SKY-PERP | +0.0100% | 1h | 0.07200 | +0.021% | $71K | $26K | 5x | as long as short |
| Aster SKYUSDT | +0.0100% | 4h | 0.07202 | +0.039% | $43K | $36K | 20x | as long as short |
| Binance SKYUSDTlong | +0.0100% | 4h | 0.07199 | long leg | $16.6M | $9.5M | 75x | |
| OKX SKY-USDT-SWAP | +0.0100% | 4h | 0.07190 | −0.125% | $875K | $1.3M | 20x | as long as short |
| Gate SKY_USDT | +0.0100% | 4h | 0.07189 | −0.139% | $618K | $254K | 50x | as long as short |
| MEXC SKY_USDT | +0.0100% | 4h | 0.07196 | −0.042% | $1.1M | $280K | 100x | as long as short |
Variational Omni SKY
Injective SKY/USDC PERP
Lighter SKY
Nado SKY-PERP
Aster SKYUSDT
OKX SKY-USDT-SWAP
Gate SKY_USDT
MEXC SKY_USDTShow all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin SKYUSDTM | +0.0100% | 4h | 0.07185 | −0.194% | $442K | $287K | 50x | as long as short |
| Bitget SKYUSDT | +0.0100% | 4h | 0.07198 | −0.014% | $3.0M | $2.0M | 75x | as long as short |
| BingX SKY-USDT | +0.0100% | 4h | 0.07194 | −0.069% | — | $2.4M | — | as long as short |
| ApeX Omni SKYUSDT | +0.0100% | 1h | 0.07197 | −0.028% | $20K | $683K | 50x | as long as short |
| Orderly PERP_SKY_USDC_mythos | +0.0100% | 4h | 0.07202 | +0.039% | $698 | $2K | 10x | as long as short |
| BloFin SKY-USDT | +0.0120% | 4h | 0.07195 | −0.056% | $611K | $609K | 75x | as long as short |
| Hyperliquid SKY | +0.0376% | 1h | 0.07209 | +0.142% | $3.0M | $905K | 3x | as long as short |
| GMX SKY/USD [ETH-USDC] | L +0.0534% / S −0.0248% | 1h | 0.07198 | −0.010% | $85K | — | 50x | as long as short |
KuCoin SKYUSDTM
Bitget SKYUSDT
BingX SKY-USDT
ApeX Omni SKYUSDT
Orderly PERP_SKY_USDC_mythos
BloFin SKY-USDT
Hyperliquid SKY
GMX SKY/USD [ETH-USDC]