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: Bitget against KuCoin+0.073%7-day average +0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$433as in the Funding arb table

Net, price: spread back to 7d avg − costs−$429as in the Price arb table

costs, in and out, $10k−$4334.334% of the position

Long on KuCoin Short on Bitget

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)−0.160%−$16 · spread now +0.073%, 7d avg +0.032%

Together, before fees−0.160%−$16 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: Bitget is 0.041% dearer against KuCoin than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SKYUSDTM	0.06855	0.0100	pay 0.0050% / 4h	3h 10m	$403K	$292K	50x
Short	Bitget SKYUSDT	0.06860	0.0100	get 0.0050% / 4h	3h 10m	$2.8M	$1.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.073%Rate

Funding earned: $0
Price spread: +0.073% → +0.032%: $4.13
Slippage, 4 orders: −$409.43
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$429.3
Costs to cover: 4.334%
Break-even: never at this rate

Slippage from KuCoin: live order book, 62 min ago; Bitget: 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, 62 min ago	21.11 bp	183.5 bp −$183	246.0 bp −$2,460	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	5.10 bp	20.3 bp −$20	63.6 bp −$636	doesn't fit	doesn't fit

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	−0.0269%	1h	0.06893	+0.554%	$376	$303K	12x	as long as short
Variational Omni SKY	+0.0018%	4h	0.06855	+0.003%	$183K	$113K	—	as long as short
BloFin SKY-USDT	+0.0055%	4h	0.06865	+0.146%	$582K	$29K	75x	as long as short
Lighter SKY	+0.0096%	1h	0.06859	+0.057%	$179K	$139K	10x	as long as short
Nado SKY-PERP	+0.0100%	1h	0.06863	+0.109%	$76K	$32K	5x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.06860	+0.072%	$42K	$42K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.06860	+0.075%	$15.7M	$11.0M	75x	as long as short
Bybit SKYUSDT	+0.0100%	4h	0.06855	0.000%	$7.2M	$3.2M	25x	as long as short
OKX SKY-USDT-SWAP	+0.0100%	4h	0.06860	+0.073%	$819K	$1.1M	20x	as long as short
Gate SKY_USDT	+0.0100%	4h	0.06859	+0.058%	$594K	$271K	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	0.06859	+0.058%	$1.0M	$266K	100x	as long as short
KuCoin SKYUSDTMlong	+0.0100%	4h	0.06855	long leg	$403K	$292K	50x
Bitget SKYUSDTshort	+0.0100%	4h	0.06860	+0.073%	$2.8M	$1.5M	75x
BingX SKY-USDT	+0.0100%	4h	0.06857	+0.029%	—	$2.4M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.06866	+0.160%	$27K	$649K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.06864	+0.128%	$1K	$3K	10x	as long as short
Hyperliquid SKY	+0.0262%	1h	0.06873	+0.260%	$2.8M	$909K	3x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0523% / S −0.0248%	1h	0.06862	+0.108%	$81K	—	50x	as long as short