Funding arb · Price arb /

SKY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0434%/8h= −47.5% APRpaid last 24h −0.119%

Price spread now: Aster against GMX+0.163%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Aster

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—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Aster is 0.163% dearer against GMX than usual: you sell high and buy low (spread +0.163% now, against zero (this spread has no 7-day history yet)): +$16 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 30 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX SKY/USD [ETH-USDC]	0.07206	L +0.0534% / S −0.0248%	pay 0.0067% / 1h	54m 29s	$85K	—	50x
Short	Aster SKYUSDT	0.07218	0.0100	get 0.0050% / 4h	1h 54m	$43K	$36K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against GMX. 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 GMXbpFee AsterbpOrdersPrice spread, now +0.163%Rate

Funding earned: −$91.09
Price spread: +0.163% → 0.000%: $16.25
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: −$94.83
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Aster: 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 GMX no order-book sample	—	—	—	—	—
Sell Aster no order-book sample	—	—	—	—	—

GMX and Aster: 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	−0.0512%	4h	0.07205	−0.014%	$207K	$94K	—	as long as short
Bybit SKYUSDT	−0.0060%	4h	0.07206	−0.006%	$7.9M	$3.4M	25x	as long as short
Injective SKY/USDC PERP	+0.0014%	1h	0.07197	−0.130%	$393	$260K	12x	as long as short
BloFin SKY-USDT	+0.0045%	4h	0.07213	+0.092%	$608K	$611K	75x	as long as short
Lighter SKY	+0.0096%	1h	0.07216	+0.139%	$189K	$163K	10x	as long as short
Nado SKY-PERP	+0.0100%	1h	0.07211	+0.071%	$71K	$25K	5x	as long as short
Aster SKYUSDTshort	+0.0100%	4h	0.07218	+0.163%	$43K	$36K	20x
Binance SKYUSDT	+0.0100%	4h	0.07214	+0.101%	$16.6M	$9.6M	75x	as long as short
OKX SKY-USDT-SWAP	+0.0100%	4h	0.07204	−0.033%	$871K	$1.3M	20x	as long as short
Gate SKY_USDT	+0.0100%	4h	0.07207	+0.008%	$618K	$252K	50x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SKY_USDT	+0.0100%	4h	0.07215	+0.119%	$1.1M	$278K	100x	as long as short
KuCoin SKYUSDTM	+0.0100%	4h	0.07208	+0.022%	$443K	$279K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.07212	+0.078%	$3.0M	$2.0M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.07209	+0.036%	—	$2.4M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.07202	−0.061%	$20K	$688K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.07217	+0.140%	$700	$2K	10x	as long as short
Hyperliquid SKY	+0.0381%	1h	0.07224	+0.246%	$3.0M	$904K	3x	as long as short
GMX SKY/USD [ETH-USDC]long	L +0.0534% / S −0.0248%	1h	0.07206	long leg	$85K	—	50x