Funding arb · Price arb /

SKY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against Gate+0.100%7-day average +0.078% · you sell dearer than you buy

Net, funding: paid 7d − costs−$191as in the Funding arb table

Net, price: spread back to 7d avg − costs−$206as in the Price arb table

costs, in and out, $10k−$2082.081% of the position

Long on Gate Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.173%+$17 on $10k

Price spread, last 4 days (all we have)−0.035%−$3 · spread now +0.100%, 7d avg +0.078%

Together, before fees+0.139%+$14 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: BingX is 0.022% dearer against Gate than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.078%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SKY_USDT	0.06990	0.0100	pay 0.0050% / 4h	3h 46m	$593K	$261K	50x
Short	BingX SKY-USDT	0.06997	0.0100	get 0.0050% / 4h	3h 46m	—	$2.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Gate. 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 GatebpFee BingXbpOrdersPrice spread, now +0.100%Rate

Funding earned: $0
Price spread: +0.100% → +0.078%: $2.22
Slippage, 4 orders: −$183.09
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BingX: 5 bp × 2 orders: −$10
Net: −$205.87
Costs to cover: 2.081%
Break-even: never at this rate

Slippage from Gate: live order book, 25 min ago; BingX: live order book, 8 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 Gate live order book, 25 min ago	2.84 bp	76.5 bp −$76	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 8 min ago	3.54 bp	19.3 bp −$19	61.9 bp −$619	280.8 bp −$28.1K	898.1 bp −$449.0K

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	−0.0614%	4h	0.06989	−0.015%	$185K	$111K	—	as long as short
Bybit SKYUSDT	−0.0588%	4h	0.06992	+0.029%	$7.5M	$3.4M	25x	as long as short
Injective SKY/USDC PERP	+0.0033%	1h	0.07172	+2.604%	$392	$303K	12x	as long as short
Lighter SKY	+0.0096%	1h	0.06993	+0.040%	$189K	$170K	10x	as long as short
Nado SKY-PERP	+0.0100%	1h	0.06992	+0.029%	$67K	$26K	5x	as long as short
Hyperliquid SKY	+0.0100%	1h	0.07002	+0.177%	$2.9M	$902K	3x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.06994	+0.060%	$42K	$44K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.06997	+0.095%	$16.1M	$10.9M	75x	as long as short
OKX SKY-USDT-SWAP	+0.0100%	4h	0.06993	+0.043%	$839K	$1.3M	20x	as long as short
Gate SKY_USDTlong	+0.0100%	4h	0.06990	long leg	$593K	$261K	50x

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SKY_USDT	+0.0100%	4h	0.06994	+0.057%	$1.0M	$282K	100x	as long as short
KuCoin SKYUSDTM	+0.0100%	4h	0.06990	0.000%	$412K	$291K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.06998	+0.114%	$2.9M	$1.6M	75x	as long as short
BingX SKY-USDTshort	+0.0100%	4h	0.06997	+0.100%	—	$2.4M	—
ApeX Omni SKYUSDT	+0.0100%	1h	0.07008	+0.258%	$24K	$680K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.06997	+0.096%	$1K	$2K	10x	as long as short
BloFin SKY-USDT	+0.0145%	4h	0.07014	+0.343%	$591K	$29K	75x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0524% / S −0.0248%	1h	0.06995	+0.076%	$83K	—	50x	as long as short