Funding arb · Price arb /

SKY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0148%/8h= +16.2% APRpaid last 24h +0.038%

Price spread now: GMX against Gate+0.045%7-day average — · you sell dearer than you buy

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

Long on Gate 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

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and GMX is 0.045% dearer against Gate than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SKY_USDT	0.06930	0.0100	pay 0.0050% / 4h	1h 16m	$602K	$286K	50x
Short	GMX SKY/USD [ETH-USDC]	0.06933	L +0.0524% / S −0.0248%	get 0.0031% / 1h	16m 52s	$82K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.045%Rate

Funding earned: $31.01
Price spread: +0.045% → 0.000%: $4.47
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee GMX: 6 bp × 2 orders: −$12
Net: $8.48
Costs to cover: 0.270%
Break-even: 5.1 days

Slippage unknown: Gate: live order book, 44 min ago; 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 Gate live order book, 44 min ago	4.34 bp	103.8 bp −$104	doesn't fit	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	−0.0293%	4h	0.06940	+0.147%	$185K	$115K	—	as long as short
Bybit SKYUSDT	+0.0013%	4h	0.06925	−0.072%	$7.3M	$3.2M	25x	as long as short
Injective SKY/USDC PERP	+0.0033%	1h	0.07172	+3.492%	$392	$303K	12x	as long as short
Lighter SKY	+0.0096%	1h	0.06933	+0.039%	$181K	$177K	10x	as long as short
Nado SKY-PERP	+0.0100%	1h	0.06932	+0.036%	$74K	$30K	5x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.06935	+0.079%	$42K	$43K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.06935	+0.072%	$15.8M	$10.9M	75x	as long as short
OKX SKY-USDT-SWAP	+0.0100%	4h	0.06928	−0.029%	$826K	$1.2M	20x	as long as short
Gate SKY_USDTlong	+0.0100%	4h	0.06930	long leg	$602K	$286K	50x
MEXC SKY_USDT	+0.0100%	4h	0.06935	+0.072%	$1.0M	$272K	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	0.06923	−0.101%	$407K	$292K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.06936	+0.087%	$2.9M	$1.5M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.06929	−0.014%	—	$2.4M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.06953	+0.332%	$28K	$663K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.06935	+0.076%	$1K	$3K	10x	as long as short
BloFin SKY-USDT	+0.0110%	4h	0.06952	+0.317%	$589K	$29K	75x	as long as short
GMX SKY/USD [ETH-USDC]short	L +0.0524% / S −0.0248%	1h	0.06933	+0.045%	$82K	—	50x
Hyperliquid SKY	+0.0627%	1h	0.06945	+0.216%	$2.9M	$926K	3x	as long as short