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 +0.023%

Price spread now: OKX against Bybit+0.088%7-day average −0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$131as in the Funding arb table

Net, price: spread back to 7d avg − costs−$130as in the Price arb table

costs, in and out, $10k−$1391.391% of the position

Long on Bybit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.079%+$8 on $10k

Price spread, last 7 days−0.061%−$6 · spread now +0.088%, 7d avg −0.005%

Together, before fees+0.018%+$2 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 0.092% dearer against Bybit than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SKYUSDT	0.06845	0.0100	pay 0.0050% / 4h	3h 58m	$7.2M	$3.2M	25x
Short	OKX SKY-USDT-SWAP	0.06851	0.0100	get 0.0050% / 4h	3h 58m	$816K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Bybit. 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 BybitbpFee OKXbpOrdersPrice spread, now +0.088%Rate

Funding earned: $0
Price spread: +0.088% → −0.005%: $9.25
Slippage, 4 orders: −$118.1
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee OKX: 5 bp × 2 orders: −$10
Net: −$129.85
Costs to cover: 1.391%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; OKX: 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 Bybit live order book, 5 min ago	2.93 bp	31.5 bp −$32	265.4 bp −$2,654	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	2.19 bp	37.1 bp −$37	480.0 bp −$4,800	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	−0.0269%	1h	0.06893	+0.701%	$376	$303K	12x	as long as short
Variational Omni SKY	−0.0146%	4h	0.06830	−0.215%	$182K	$113K	—	as long as short
BloFin SKY-USDT	+0.0065%	4h	0.06841	−0.058%	$581K	$29K	75x	as long as short
Lighter SKY	+0.0096%	1h	0.06850	+0.070%	$179K	$139K	10x	as long as short
Nado SKY-PERP	+0.0100%	1h	0.06837	−0.117%	$75K	$31K	5x	as long as short
Hyperliquid SKY	+0.0100%	1h	0.06851	+0.083%	$2.8M	$912K	3x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.06847	+0.028%	$41K	$42K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.06855	+0.149%	$15.7M	$11.0M	75x	as long as short
Bybit SKYUSDTlong	+0.0100%	4h	0.06845	long leg	$7.2M	$3.2M	25x
OKX SKY-USDT-SWAPshort	+0.0100%	4h	0.06851	+0.088%	$816K	$1.1M	20x

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate SKY_USDT	+0.0100%	4h	0.06841	−0.058%	$592K	$268K	50x	as long as short
MEXC SKY_USDT	+0.0100%	4h	0.06845	0.000%	$1.0M	$263K	100x	as long as short
KuCoin SKYUSDTM	+0.0100%	4h	0.06843	−0.029%	$403K	$291K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.06842	−0.044%	$2.8M	$1.5M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.06837	−0.117%	—	$2.4M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.06841	−0.058%	$27K	$657K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.06844	−0.015%	$1K	$3K	10x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0520% / S −0.0248%	1h	0.06841	−0.064%	$81K	—	50x	as long as short