Funding arb · Price arb /

SKY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against KuCoin−0.160%7-day average +0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$894as in the Funding arb table

Net, price: spread back to 7d avg − costs−$910as in the Price arb table

costs, in and out, $10k−$8928.924% of the position

Long on KuCoin Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.012%−$1 on $10k

Price spread, last 4 days (all we have)+0.556%+$56 · spread now −0.160%, 7d avg +0.011%

Together, before fees+0.544%+$54 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: OKX is 0.171% cheaper against KuCoin than usual: you would sell low and buy high, −$17 on $10k if it goes back to its 7-day average of +0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SKYUSDTM	0.06874	0.0100	pay 0.0050% / 4h	21m 21s	$404K	$291K	50x
Short	OKX SKY-USDT-SWAP	0.06863	0.0100	get 0.0050% / 4h	21m 21s	$819K	$1.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.160%Rate

Funding earned: $0
Price spread: −0.160% → +0.011%: −$17.11
Slippage, 4 orders: −$870.44
Fee KuCoin: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$909.55
Costs to cover: 8.924%
Break-even: never at this rate

Slippage from KuCoin: live order book, 61 min ago; OKX: live order book, 5 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, 61 min ago	25.18 bp	236.7 bp −$237	772.4 bp −$7,724	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	5.10 bp	38.7 bp −$39	461.8 bp −$4,618	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
Variational Omni SKY	−0.0165%	4h	0.06855	−0.280%	$183K	$113K	—	as long as short
Injective SKY/USDC PERP	+0.0033%	1h	0.06893	+0.276%	$376	$303K	12x	as long as short
Lighter SKY	+0.0096%	1h	0.06869	−0.074%	$179K	$177K	10x	as long as short
Nado SKY-PERP	+0.0100%	1h	0.06868	−0.087%	$73K	$30K	5x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.06869	−0.066%	$41K	$42K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.06870	−0.059%	$15.7M	$11.0M	75x	as long as short
Bybit SKYUSDT	+0.0100%	4h	0.06861	−0.189%	$7.2M	$3.2M	25x	as long as short
OKX SKY-USDT-SWAPshort	+0.0100%	4h	0.06863	−0.160%	$819K	$1.2M	20x
Gate SKY_USDT	+0.0100%	4h	0.06876	+0.029%	$596K	$272K	50x	as long as short
MEXC SKY_USDT	+0.0100%	4h	0.06870	−0.058%	$1.0M	$265K	100x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SKYUSDTMlong	+0.0100%	4h	0.06874	long leg	$404K	$291K	50x
Bitget SKYUSDT	+0.0100%	4h	0.06871	−0.044%	$2.8M	$1.5M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.06864	−0.145%	—	$2.4M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.06877	+0.044%	$27K	$661K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.06871	−0.038%	$1K	$3K	10x	as long as short
BloFin SKY-USDT	+0.0140%	4h	0.06872	−0.029%	$583K	$29K	75x	as long as short
Hyperliquid SKY	+0.0313%	1h	0.06879	+0.067%	$2.8M	$911K	3x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0522% / S −0.0248%	1h	0.06869	−0.073%	$81K	—	50x	as long as short