Funding arb · Price arb /

SKY

all SKY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0148%/8h= +16.2% APRpaid last 24h +0.038%

Price spread now: GMX against MEXC−0.036%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on MEXC Short on GMX

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

Funding pays, the price is against you. GMX is 0.036% cheaper against MEXC than usual: you would sell low and buy high (spread −0.036% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 20 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SKY_USDT	0.06870	0.0100	pay 0.0050% / 4h	47m 07s	$1.0M	$262K	100x
Short	GMX SKY/USD [ETH-USDC]	0.06867	L +0.0523% / S −0.0248%	get 0.0031% / 1h	47m 07s	$81K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against MEXC. 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 MEXCbpFee GMXbpOrdersPrice spread, now −0.036%Rate

Funding earned: $31.01
Price spread: −0.036% → 0.000%: −$3.64
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee GMX: 6 bp × 2 orders: −$12
Net: $11.37
Costs to cover: 0.160%
Break-even: 4.4 days

Slippage unknown: MEXC: live order book, 4 min ago; GMX: no order-book sample. 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 MEXC live order book, 4 min ago	1.46 bp	10.4 bp −$10	31.5 bp −$315	279.4 bp −$27.9K	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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	−0.0252%	4h	0.06861	−0.127%	$183K	$113K	—	as long as short
Injective SKY/USDC PERP	+0.0033%	1h	0.06893	+0.335%	$376	$303K	12x	as long as short
Bybit SKYUSDT	+0.0068%	4h	0.06863	−0.102%	$7.2M	$3.2M	25x	as long as short
BloFin SKY-USDT	+0.0073%	4h	0.06872	+0.029%	$584K	$29K	75x	as long as short
Lighter SKY	+0.0096%	1h	0.06870	−0.007%	$179K	$177K	10x	as long as short
Nado SKY-PERP	+0.0100%	1h	0.06867	−0.047%	$73K	$30K	5x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.06870	−0.007%	$42K	$42K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.06870	+0.002%	$15.7M	$10.9M	75x	as long as short
OKX SKY-USDT-SWAP	+0.0100%	4h	0.06863	−0.102%	$822K	$1.2M	20x	as long as short
Gate SKY_USDT	+0.0100%	4h	0.06863	−0.102%	$596K	$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_USDTlong	+0.0100%	4h	0.06870	long leg	$1.0M	$262K	100x
KuCoin SKYUSDTM	+0.0100%	4h	0.06869	−0.015%	$404K	$291K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.06869	−0.015%	$2.8M	$1.5M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.06867	−0.044%	—	$2.4M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.06871	+0.015%	$27K	$661K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.06869	−0.009%	$1K	$3K	10x	as long as short
Hyperliquid SKY	+0.0196%	1h	0.06882	+0.172%	$2.8M	$929K	3x	as long as short
GMX SKY/USD [ETH-USDC]short	L +0.0523% / S −0.0248%	1h	0.06867	−0.036%	$81K	—	50x