Funding you earn now, next payment 00:00 UTC−0.0413%/8h= −45.2% APRnext payment −$2.06 per $10,000 · paid last 24h −0.009%
Price spread now: Bybit against Gate−0.085%7-day average +0.061% · you buy dearer than you sell
Net, funding: paid 7d − costs−$232as in the Funding arb table
Net, price: spread back to 7d avg − costs−$257as in the Price arb table
costs, in and out, $10k−$2422.419% of the position
Funding, last 7 days+0.096%+$10 on $10k
+Price spread, last 4 days (all we have)+0.525%+$53 · spread now −0.085%, 7d avg +0.061%
=Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Bybit is 0.146% cheaper against Gate than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of +0.061%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.096%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.096% in total (about 5.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.06 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 | Gate SKY_USDT | 0.07080 | 0.0100 | pay 0.0050% / 4h | 1h 15m | $605K | $261K | 50x |
| Short | Bybit SKYUSDT | 0.07074 | −0.0313 | pay 0.0156% / 4h | 1h 15m | $7.7M | $3.4M | 25x |
Gate SKY_USDT
Bybit SKYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Gate. 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
- −$86.63
- Price spread: −0.085% → +0.061%
- −$14.61
- Slippage, 4 orders
- −$215.92
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$343.15
- Costs to cover
- 2.419%
- Break-even
- never at this rate
Slippage from Gate: live order book, 66 min ago; Bybit: live order book, 2 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, 66 min ago | 8.34 bp | 90.9 bp −$91 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 2 min ago | 2.12 bp | 19.9 bp −$20 | 163.3 bp −$1,633 | 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 | −0.0538% | 4h | 0.07089 | +0.129% | $195K | $104K | — | as long as short |
| Bybit SKYUSDTshort | −0.0313% | 4h | 0.07074 | −0.085% | $7.7M | $3.4M | 25x | |
| Injective SKY/USDC PERP | +0.0014% | 1h | 0.07172 | +1.299% | $392 | $303K | 12x | as long as short |
| Nado SKY-PERP | +0.0067% | 1h | 0.07088 | +0.109% | $70K | $26K | 5x | as long as short |
| Lighter SKY | +0.0096% | 1h | 0.07083 | +0.047% | $186K | $163K | 10x | as long as short |
| Aster SKYUSDT | +0.0100% | 4h | 0.07085 | +0.068% | $43K | $36K | 20x | as long as short |
| Binance SKYUSDT | +0.0100% | 4h | 0.07084 | +0.056% | $16.1M | $10.3M | 75x | as long as short |
| OKX SKY-USDT-SWAP | +0.0100% | 4h | 0.07077 | −0.042% | $852K | $1.4M | 20x | as long as short |
| Gate SKY_USDTlong | +0.0100% | 4h | 0.07080 | long leg | $605K | $261K | 50x | |
| MEXC SKY_USDT | +0.0100% | 4h | 0.07087 | +0.099% | $1.1M | $289K | 100x | as long as short |
Variational Omni SKY
Injective SKY/USDC PERP
Nado SKY-PERP
Lighter SKY
Aster SKYUSDT
Binance SKYUSDT
OKX SKY-USDT-SWAP
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 | 0.07085 | +0.071% | $428K | $288K | 50x | as long as short |
| Bitget SKYUSDT | +0.0100% | 4h | 0.07084 | +0.056% | $2.9M | $2.1M | 75x | as long as short |
| BingX SKY-USDT | +0.0100% | 4h | 0.07078 | −0.028% | — | $2.4M | — | as long as short |
| ApeX Omni SKYUSDT | +0.0100% | 1h | 0.07106 | +0.367% | $20K | $684K | 50x | as long as short |
| Orderly PERP_SKY_USDC_mythos | +0.0100% | 4h | 0.07089 | +0.127% | $1K | $2K | 10x | as long as short |
| BloFin SKY-USDT | +0.0124% | 4h | 0.07088 | +0.113% | $594K | $30K | 75x | as long as short |
| Hyperliquid SKY | +0.0292% | 1h | 0.07095 | +0.210% | $3.0M | $930K | 3x | as long as short |
| GMX SKY/USD [ETH-USDC] | L +0.0528% / S −0.0248% | 1h | 0.07087 | +0.096% | $84K | — | 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]