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: MEXC against OKX+0.028%7-day average +0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$800.804% of the position

Long on OKX Short on MEXC

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−0.026%−$3 · spread now +0.028%, 7d avg +0.050%

Together, before fees−0.014%−$1 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: MEXC is 0.021% cheaper against OKX than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SKY-USDT-SWAP	0.07050	0.0100	pay 0.0050% / 4h	3h 59m	$850K	$1.3M	20x
Short	MEXC SKY_USDT	0.07052	0.0100	get 0.0050% / 4h	3h 59m	$1.1M	$280K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.028%Rate

Funding earned: $0
Price spread: +0.028% → +0.050%: −$2.14
Slippage, 4 orders: −$66.4
Fee OKX: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$82.54
Costs to cover: 0.804%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; MEXC: live order book, 1 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, 2 min ago	2.13 bp	26.7 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	0.71 bp	9.2 bp −$9	77.9 bp −$779	294.4 bp −$29.4K	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	−0.0643%	4h	0.07042	−0.113%	$193K	$104K	—	as long as short
Nado SKY-PERP	+0.0089%	1h	0.07049	−0.018%	$70K	$25K	5x	as long as short
Lighter SKY	+0.0096%	1h	0.07056	+0.087%	$189K	$159K	10x	as long as short
Hyperliquid SKY	+0.0100%	1h	0.07061	+0.152%	$3.0M	$890K	3x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.07058	+0.107%	$42K	$43K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.07052	+0.028%	$16.0M	$10.2M	75x	as long as short
Bybit SKYUSDT	+0.0100%	4h	0.07044	−0.085%	$7.6M	$3.3M	25x	as long as short
OKX SKY-USDT-SWAPlong	+0.0100%	4h	0.07050	long leg	$850K	$1.3M	20x
Gate SKY_USDT	+0.0100%	4h	0.07049	−0.014%	$603K	$251K	50x	as long as short
MEXC SKY_USDTshort	+0.0100%	4h	0.07052	+0.028%	$1.1M	$280K	100x

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SKYUSDTM	+0.0100%	4h	0.07042	−0.113%	$420K	$290K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.07049	−0.014%	$2.9M	$1.6M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.07046	−0.057%	—	$2.4M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.07056	+0.085%	$22K	$680K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.07057	+0.104%	$1K	$2K	10x	as long as short
BloFin SKY-USDT	+0.0110%	4h	0.07050	0.000%	$586K	$29K	75x	as long as short
Injective SKY/USDC PERP	+0.0158%	1h	0.07172	+1.730%	$392	$303K	12x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0526% / S −0.0248%	1h	0.07054	+0.052%	$84K	—	50x	as long as short