Funding arb · Price arb /

SKY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against KuCoin−0.058%7-day average +0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs−$595as in the Funding arb table

Net, price: spread back to 7d avg − costs−$604as in the Price arb table

costs, in and out, $10k−$5955.949% of the position

Long on KuCoin Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.072%+$7 · spread now −0.058%, 7d avg +0.037%

Together, before fees+0.072%+$7 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.095% cheaper against KuCoin than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SKYUSDTM	0.06839	0.0100	pay 0.0050% / 4h	2h 17m	$401K	$292K	50x
Short	BingX SKY-USDT	0.06835	0.0100	get 0.0050% / 4h	2h 17m	—	$2.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against KuCoin. 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 KuCoinbpFee BingXbpOrdersPrice spread, now −0.058%Rate

Funding earned: $0
Price spread: −0.058% → +0.037%: −$9.55
Slippage, 4 orders: −$572.87
Fee KuCoin: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$604.42
Costs to cover: 5.949%
Break-even: never at this rate

Slippage from KuCoin: live order book, 41 min ago; BingX: 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 KuCoin live order book, 41 min ago	32.82 bp	279.2 bp −$279	458.6 bp −$4,586	doesn't fit	doesn't fit
Sell BingX live order book, 2 min ago	3.66 bp	18.5 bp −$18	61.7 bp −$617	258.4 bp −$25.8K	840.2 bp −$420.1K

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
Injective SKY/USDC PERP	+0.0033%	1h	0.06893	+0.790%	$376	$303K	12x	as long as short
Variational Omni SKY	+0.0039%	4h	0.06800	−0.566%	$182K	$113K	—	as long as short
BloFin SKY-USDT	+0.0064%	4h	0.06827	−0.175%	$576K	$29K	75x	as long as short
Lighter SKY	+0.0096%	1h	0.06836	−0.045%	$179K	$119K	10x	as long as short
Nado SKY-PERP	+0.0100%	1h	0.06836	−0.048%	$71K	$34K	5x	as long as short
Hyperliquid SKY	+0.0100%	1h	0.06848	+0.133%	$2.8M	$898K	3x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.06839	−0.002%	$42K	$42K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.06839	0.000%	$15.5M	$11.1M	75x	as long as short
Bybit SKYUSDT	+0.0100%	4h	0.06833	−0.088%	$7.1M	$3.1M	25x	as long as short
OKX SKY-USDT-SWAP	+0.0100%	4h	0.06832	−0.102%	$804K	$1.1M	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate SKY_USDT	+0.0100%	4h	0.06827	−0.175%	$581K	$293K	50x	as long as short
MEXC SKY_USDT	+0.0100%	4h	0.06839	0.000%	$999K	$268K	100x	as long as short
KuCoin SKYUSDTMlong	+0.0100%	4h	0.06839	long leg	$401K	$292K	50x
Bitget SKYUSDT	+0.0100%	4h	0.06838	−0.015%	$2.8M	$1.5M	75x	as long as short
BingX SKY-USDTshort	+0.0100%	4h	0.06835	−0.058%	—	$2.4M	—
ApeX Omni SKYUSDT	+0.0100%	1h	0.06840	+0.015%	$27K	$646K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.06839	−0.003%	$1K	$3K	10x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0521% / S −0.0248%	1h	0.06837	−0.025%	$81K	—	50x	as long as short