Funding arb · Price arb /

SKY

all SKY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0424%/8h= −46.4% APRpaid last 24h −0.118%

Price spread now: MEXC against GMX0.000%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 MEXC

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]	0.06921	L +0.0524% / S −0.0248%	pay 0.0065% / 1h	34m 20s	$82K	—	50x
Short	MEXC SKY_USDT	0.06921	0.0100	get 0.0050% / 4h	1h 34m	$1.0M	$271K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$88.98
Price spread: 0.000% → 0.000%: $0
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$104.98
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; MEXC: 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 MEXC live order book, 2 min ago	0.72 bp	8.9 bp −$9	67.9 bp −$679	306.2 bp −$30.6K	doesn't fit

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	−0.0390%	4h	0.06916	−0.077%	$185K	$126K	—	as long as short
Bybit SKYUSDT	−0.0064%	4h	0.06910	−0.159%	$7.3M	$3.3M	25x	as long as short
Injective SKY/USDC PERP	+0.0033%	1h	0.07172	+3.627%	$392	$303K	12x	as long as short
BloFin SKY-USDT	+0.0073%	4h	0.06924	+0.043%	$586K	$29K	75x	as long as short
Lighter SKY	+0.0096%	1h	0.06919	−0.035%	$180K	$177K	10x	as long as short
Nado SKY-PERP	+0.0100%	1h	0.06915	−0.079%	$70K	$29K	5x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.06921	+0.002%	$42K	$43K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.06922	+0.014%	$15.8M	$11.1M	75x	as long as short
OKX SKY-USDT-SWAP	+0.0100%	4h	0.06918	−0.043%	$827K	$1.2M	20x	as long as short
Gate SKY_USDT	+0.0100%	4h	0.06919	−0.029%	$593K	$277K	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_USDTshort	+0.0100%	4h	0.06921	0.000%	$1.0M	$271K	100x
KuCoin SKYUSDTM	+0.0100%	4h	0.06923	+0.029%	$412K	$295K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.06918	−0.043%	$2.9M	$1.5M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.06917	−0.058%	—	$2.4M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.06923	+0.029%	$27K	$666K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.06923	+0.027%	$1K	$3K	10x	as long as short
GMX SKY/USD [ETH-USDC]long	L +0.0524% / S −0.0248%	1h	0.06921	long leg	$82K	—	50x
Hyperliquid SKY	+0.0925%	1h	0.06937	+0.234%	$2.9M	$913K	3x	as long as short