Funding arb · Price arb /

SKY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0426%/8h= −46.6% APRpaid last 24h −0.118%

Price spread now: BingX against GMX+0.001%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 BingX

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$13 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX SKY/USD [ETH-USDC]	0.07020	L +0.0526% / S −0.0248%	pay 0.0066% / 1h	16m 55s	$83K	—	50x
Short	BingX SKY-USDT	0.07020	0.0100	get 0.0050% / 4h	3h 16m	—	$2.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.001%Rate

Funding earned: −$89.38
Price spread: +0.001% → 0.000%: $0.14
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$111.23
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; BingX: live order book, 2 min ago. 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 BingX live order book, 2 min ago	2.84 bp	16.4 bp −$16	60.0 bp −$600	253.7 bp −$25.4K	822.5 bp −$411.2K

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	−0.0594%	4h	0.07042	+0.320%	$203K	$118K	—	as long as short
Bybit SKYUSDT	−0.0409%	4h	0.07013	−0.098%	$7.5M	$3.5M	25x	as long as short
Injective SKY/USDC PERP	+0.0033%	1h	0.07172	+2.167%	$392	$303K	12x	as long as short
BloFin SKY-USDT	+0.0040%	4h	0.07039	+0.272%	$597K	$30K	75x	as long as short
Nado SKY-PERP	+0.0067%	1h	0.07030	+0.144%	$71K	$28K	5x	as long as short
Lighter SKY	+0.0096%	1h	0.07023	+0.050%	$189K	$171K	10x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.07029	+0.133%	$42K	$44K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.07023	+0.044%	$16.2M	$10.9M	75x	as long as short
OKX SKY-USDT-SWAP	+0.0100%	4h	0.07014	−0.084%	$845K	$1.3M	20x	as long as short
Gate SKY_USDT	+0.0100%	4h	0.07032	+0.172%	$591K	$265K	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	0.07023	+0.044%	$1.0M	$285K	100x	as long as short
KuCoin SKYUSDTM	+0.0100%	4h	0.07031	+0.158%	$415K	$293K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.07022	+0.030%	$2.9M	$1.6M	75x	as long as short
BingX SKY-USDTshort	+0.0100%	4h	0.07020	+0.001%	—	$2.4M	—
ApeX Omni SKYUSDT	+0.0100%	1h	0.07056	+0.514%	$24K	$681K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.07025	+0.067%	$942	$3K	10x	as long as short
Hyperliquid SKY	+0.0118%	1h	0.07036	+0.231%	$2.9M	$903K	3x	as long as short
GMX SKY/USD [ETH-USDC]long	L +0.0526% / S −0.0248%	1h	0.07020	long leg	$83K	—	50x