Funding arb · Price arb /

SKY

all SKY markets

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: Gate against OKX−0.015%7-day average −0.048% · you buy dearer than you sell

Net, funding: paid 7d − costs−$259as in the Funding arb table

Net, price: spread back to 7d avg − costs−$240as in the Price arb table

costs, in and out, $10k−$2432.429% of the position

Long on OKX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.161%−$16 on $10k

Price spread, last 4 days (all we have)−0.276%−$28 · spread now −0.015%, 7d avg −0.048%

Together, before fees−0.438%−$44 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: Gate is 0.033% dearer against OKX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.048%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SKY-USDT-SWAP	0.06815	0.0100	pay 0.0050% / 4h	2h 41m	$810K	$1.1M	20x
Short	Gate SKY_USDT	0.06814	0.0100	get 0.0050% / 4h	2h 41m	$579K	$287K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.015%Rate

Funding earned: $0
Price spread: −0.015% → −0.048%: $3.31
Slippage, 4 orders: −$217.94
Fee OKX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$239.63
Costs to cover: 2.429%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; Gate: 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 OKX live order book, 5 min ago	2.18 bp	29.4 bp −$29	1443.8 bp −$14.4K	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	5.10 bp	102.4 bp −$102	doesn't fit	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	+0.0033%	1h	0.06893	+1.145%	$376	$303K	12x	as long as short
Variational Omni SKY	+0.0077%	4h	0.06863	+0.709%	$183K	$113K	—	as long as short
Lighter SKY	+0.0096%	1h	0.06818	+0.041%	$178K	$118K	10x	as long as short
Nado SKY-PERP	+0.0100%	1h	0.06837	+0.326%	$74K	$32K	5x	as long as short
Hyperliquid SKY	+0.0100%	1h	0.06847	+0.465%	$2.8M	$909K	3x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.06825	+0.148%	$42K	$42K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.06813	−0.026%	$15.5M	$11.1M	75x	as long as short
Bybit SKYUSDT	+0.0100%	4h	0.06813	−0.029%	$7.1M	$3.2M	25x	as long as short
OKX SKY-USDT-SWAPlong	+0.0100%	4h	0.06815	long leg	$810K	$1.1M	20x
Gate SKY_USDTshort	+0.0100%	4h	0.06814	−0.015%	$579K	$287K	50x

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SKY_USDT	+0.0100%	4h	0.06836	+0.308%	$1.0M	$261K	100x	as long as short
KuCoin SKYUSDTM	+0.0100%	4h	0.06841	+0.382%	$401K	$292K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.06818	+0.044%	$2.8M	$1.5M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.06818	+0.044%	—	$2.4M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.06865	+0.734%	$27K	$649K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.06822	+0.109%	$1K	$3K	10x	as long as short
BloFin SKY-USDT	+0.0123%	4h	0.06838	+0.337%	$584K	$29K	75x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0522% / S −0.0248%	1h	0.06829	+0.211%	$81K	—	50x	as long as short