Funding arb · Price arb /

SKY

all SKY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0148%/8h= +16.2% APRpaid last 24h +0.038%

Price spread now: GMX against OKX+0.104%52s7-day average — · you sell dearer than you buy

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

Long on OKX 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

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and GMX is 0.104% dearer against OKX than usual: you sell high and buy low: +$10 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SKY-USDT-SWAP	0.06836	0.0100	pay 0.0050% / 4h	1h 36m	$798K	$1.1M	20x
Short	GMX SKY/USD [ETH-USDC]	0.06843	L +0.0522% / S −0.0248%	get 0.0031% / 1h	36m 34s	$81K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.104%Rate

Funding earned: $31.01
Price spread: +0.104% → 0.000%: $10.39
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $19.39
Costs to cover: 0.220%
Break-even: 2.6 days

Slippage unknown: OKX: live order book, 5 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 OKX live order book, 5 min ago	2.92 bp	32.1 bp −$32	1786.7 bp −$17.9K	doesn't fit	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
Injective SKY/USDC PERP	+0.0033%	1h	0.06893	+0.834%	$376	$303K	12x	as long as short
Variational Omni SKY	+0.0059%	4h	0.06859	+0.341%	$183K	$98K	—	as long as short
Lighter SKY	+0.0096%	1h	0.06840	+0.066%	$179K	$117K	10x	as long as short
Nado SKY-PERP	+0.0100%	1h	0.06843	+0.102%	$71K	$31K	5x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.06846	+0.151%	$42K	$44K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.06835	−0.015%	$15.5M	$11.2M	75x	as long as short
Bybit SKYUSDT	+0.0100%	4h	0.06834	−0.029%	$7.1M	$3.0M	25x	as long as short
OKX SKY-USDT-SWAPlong	+0.0100%	4h	0.06836	long leg	$798K	$1.1M	20x
Gate SKY_USDT	+0.0100%	4h	0.06839	+0.044%	$583K	$287K	50x	as long as short
MEXC SKY_USDT	+0.0100%	4h	0.06839	+0.044%	$997K	$266K	100x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SKYUSDTM	+0.0100%	4h	0.06843	+0.102%	$401K	$292K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.06837	+0.015%	$2.8M	$1.4M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.06835	−0.015%	—	$2.4M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.06868	+0.468%	$26K	$645K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.06846	+0.145%	$1K	$3K	10x	as long as short
BloFin SKY-USDT	+0.0101%	4h	0.06867	+0.453%	$582K	$29K	75x	as long as short
Hyperliquid SKY	+0.0119%	1h	0.06851	+0.215%	$2.8M	$882K	3x	as long as short
GMX SKY/USD [ETH-USDC]short	L +0.0522% / S −0.0248%	1h	0.06843	+0.104%	$81K	—	50x