Funding arb · Price arb /

SKY

all SKY markets

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: BingX against OKX−0.087%7-day average +0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$108as in the Funding arb table

Net, price: spread back to 7d avg − costs−$119as in the Price arb table

costs, in and out, $10k−$1091.091% of the position

Long on OKX Short on BingX

What this pair did over the last

the charts below follow

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

Price spread, last 7 days+0.071%+$7 · spread now −0.087%, 7d avg +0.014%

Together, before fees+0.083%+$8 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 0.100% cheaper against OKX than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SKY-USDT-SWAP	0.06909	0.0100	pay 0.0050% / 4h	2h 05m	$824K	$1.2M	20x
Short	BingX SKY-USDT	0.06903	0.0100	get 0.0050% / 4h	2h 05m	—	$2.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against OKX. 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 OKXbpFee BingXbpOrdersPrice spread, now −0.087%Rate

Funding earned: $0
Price spread: −0.087% → +0.014%: −$10.05
Slippage, 4 orders: −$89.09
Fee OKX: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$119.14
Costs to cover: 1.091%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; BingX: live order book, 14 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 OKX live order book, 1 min ago	0.72 bp	31.8 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 14 min ago	4.32 bp	20.2 bp −$20	61.5 bp −$615	244.6 bp −$24.5K	780.9 bp −$390.5K

SKY on 17 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	−0.0456%	4h	0.06901	−0.112%	$184K	$126K	—	as long as short
Bybit SKYUSDT	−0.0121%	4h	0.06901	−0.116%	$7.3M	$3.3M	25x	as long as short
Injective SKY/USDC PERP	+0.0033%	1h	0.07172	+3.807%	$392	$303K	12x	as long as short
Lighter SKY	+0.0096%	1h	0.06907	−0.025%	$180K	$181K	10x	as long as short
Nado SKY-PERP	+0.0100%	1h	0.06907	−0.029%	$69K	$28K	5x	as long as short
Hyperliquid SKY	+0.0100%	1h	0.06926	+0.248%	$2.9M	$912K	3x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.06913	+0.058%	$42K	$44K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.06910	+0.014%	$15.8M	$11.0M	75x	as long as short
OKX SKY-USDT-SWAPlong	+0.0100%	4h	0.06909	long leg	$824K	$1.2M	20x
Gate SKY_USDT	+0.0100%	4h	0.06904	−0.072%	$593K	$283K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SKY_USDT	+0.0100%	4h	0.06910	+0.014%	$1.0M	$287K	100x	as long as short
KuCoin SKYUSDTM	+0.0100%	4h	0.06913	+0.058%	$412K	$294K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.06912	+0.043%	$2.9M	$1.6M	75x	as long as short
BingX SKY-USDTshort	+0.0100%	4h	0.06903	−0.087%	—	$2.4M	—
ApeX Omni SKYUSDT	+0.0100%	1h	0.06913	+0.058%	$28K	$666K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.06910	+0.022%	$1K	$3K	10x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0523% / S −0.0248%	1h	0.06908	−0.017%	$82K	—	50x	as long as short