Funding arb · Price arb /

SKY

all SKY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against BingX−0.059%7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$102as in the Funding arb table

Net, price: spread back to 7d avg − costs−$105as in the Price arb table

costs, in and out, $10k−$1011.012% of the position

Long on BingX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.012%−$1 on $10k

Price spread, last 7 days+0.093%+$9 · spread now −0.059%, 7d avg −0.016%

Together, before fees+0.081%+$8 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.043% cheaper against BingX than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX SKY-USDT	0.06828	0.0100	pay 0.0050% / 4h	46m 56s	—	$2.4M	—
Short	OKX SKY-USDT-SWAP	0.06824	0.0100	get 0.0050% / 4h	46m 56s	$795K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against BingX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BingXbpFee OKXbpOrdersPrice spread, now −0.059%Rate

Funding earned: $0
Price spread: −0.059% → −0.016%: −$4.28
Slippage, 4 orders: −$81.16
Fee BingX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$105.44
Costs to cover: 1.012%
Break-even: never at this rate

Slippage from BingX: live order book, 2 min ago; OKX: live order book, 4 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 BingX live order book, 2 min ago	4.39 bp	18.3 bp −$18	51.6 bp −$516	269.8 bp −$27.0K	979.6 bp −$489.8K
Sell OKX live order book, 4 min ago	3.66 bp	32.5 bp −$33	374.9 bp −$3,749	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
Injective SKY/USDC PERP	+0.0033%	1h	0.06893	+0.952%	$376	$303K	12x	as long as short
BloFin SKY-USDT	+0.0068%	4h	0.06833	+0.073%	$583K	$29K	75x	as long as short
Lighter SKY	+0.0096%	1h	0.06833	+0.076%	$179K	$107K	10x	as long as short
Nado SKY-PERP	+0.0100%	1h	0.06836	+0.114%	$71K	$31K	5x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.06836	+0.114%	$42K	$44K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.06831	+0.037%	$15.5M	$11.1M	75x	as long as short
Bybit SKYUSDT	+0.0100%	4h	0.06829	+0.015%	$7.2M	$3.2M	25x	as long as short
OKX SKY-USDT-SWAPshort	+0.0100%	4h	0.06824	−0.059%	$795K	$1.1M	20x
Gate SKY_USDT	+0.0100%	4h	0.06822	−0.088%	$578K	$290K	50x	as long as short
MEXC SKY_USDT	+0.0100%	4h	0.06831	+0.044%	$1.0M	$271K	100x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SKYUSDTM	+0.0100%	4h	0.06836	+0.117%	$400K	$292K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.06835	+0.103%	$2.8M	$1.4M	75x	as long as short
BingX SKY-USDTlong	+0.0100%	4h	0.06828	long leg	—	$2.4M	—
Variational Omni SKY	+0.0100%	4h	0.06822	−0.093%	$182K	$98K	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.06837	+0.132%	$26K	$647K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.06835	+0.098%	$1K	$3K	10x	as long as short
Hyperliquid SKY	+0.0279%	1h	0.06842	+0.202%	$2.8M	$864K	3x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0521% / S −0.0248%	1h	0.06835	+0.104%	$81K	—	50x	as long as short