Funding arb · Price arb /

SKY

all SKY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0148%/8h= +16.2% APRpaid last 24h +0.038%

Price spread now: GMX against Bitget−0.102%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bitget Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. GMX is 0.102% cheaper against Bitget than usual: you would sell low and buy high (spread −0.102% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 2.3 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SKYUSDT	0.07087	0.0100	pay 0.0050% / 4h	1h 17m	$2.9M	$2.1M	75x
Short	GMX SKY/USD [ETH-USDC]	0.07080	L +0.0528% / S −0.0248%	get 0.0031% / 1h	17m 20s	$84K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bitget. 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 BitgetbpFee GMXbpOrdersPrice spread, now −0.102%Rate

Funding earned: $31.01
Price spread: −0.102% → 0.000%: −$10.16
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$3.15
Costs to cover: 0.240%
Break-even: 7.7 days

Slippage unknown: Bitget: live order book, just now; GMX: no order-book sample. Net counts fees only.

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 Bitget live order book, just now	5.65 bp	21.7 bp −$22	50.9 bp −$509	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0538%	4h	0.07089	+0.030%	$195K	$104K	—	as long as short
Bybit SKYUSDT	−0.0283%	4h	0.07070	−0.240%	$7.7M	$3.4M	25x	as long as short
Injective SKY/USDC PERP	+0.0014%	1h	0.07172	+1.199%	$392	$303K	12x	as long as short
Nado SKY-PERP	+0.0069%	1h	0.07087	−0.004%	$70K	$26K	5x	as long as short
Lighter SKY	+0.0096%	1h	0.07089	+0.035%	$186K	$163K	10x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.07088	+0.012%	$43K	$36K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.07086	−0.009%	$16.1M	$10.3M	75x	as long as short
OKX SKY-USDT-SWAP	+0.0100%	4h	0.07076	−0.155%	$852K	$1.4M	20x	as long as short
Gate SKY_USDT	+0.0100%	4h	0.07080	−0.099%	$605K	$261K	50x	as long as short
MEXC SKY_USDT	+0.0100%	4h	0.07088	+0.014%	$1.1M	$289K	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	0.07080	−0.099%	$427K	$288K	50x	as long as short
Bitget SKYUSDTlong	+0.0100%	4h	0.07087	long leg	$2.9M	$2.1M	75x
BingX SKY-USDT	+0.0100%	4h	0.07081	−0.085%	—	$2.4M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.07106	+0.268%	$20K	$684K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.07087	−0.004%	$1K	$2K	10x	as long as short
BloFin SKY-USDT	+0.0131%	4h	0.07090	+0.042%	$595K	$30K	75x	as long as short
Hyperliquid SKY	+0.0288%	1h	0.07097	+0.140%	$3.0M	$930K	3x	as long as short
GMX SKY/USD [ETH-USDC]short	L +0.0528% / S −0.0248%	1h	0.07080	−0.102%	$84K	—	50x