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: BingX against Orderly−0.014%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on BingX

What this pair did over the last

the charts below follow

Funding, last 5 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

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_SKY_USDC_mythos	0.06934	0.0100	pay 0.0050% / 4h	2h 30m	$1K	$3K	10x
Short	BingX SKY-USDT	0.06933	0.0100	get 0.0050% / 4h	2h 30m	—	$2.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Orderly. 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 OrderlybpFee BingXbpOrdersPrice spread, now −0.014%Rate

Funding earned: $0
Price spread: −0.014% → 0.000%: −$1.44
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee BingX: 5 bp × 2 orders: −$10
Net: −$17.44
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; BingX: live order book, 9 min ago. 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 Orderly no order-book sample	—	—	—	—	—
Sell BingX live order book, 9 min ago	4.34 bp	22.4 bp −$22	63.0 bp −$630	244.5 bp −$24.4K	734.0 bp −$367.0K

Orderly: 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 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	−0.0453%	4h	0.06927	−0.095%	$185K	$126K	—	as long as short
Bybit SKYUSDT	0.0000%	4h	0.06931	−0.043%	$7.4M	$3.3M	25x	as long as short
Injective SKY/USDC PERP	+0.0033%	1h	0.07172	+3.432%	$392	$303K	12x	as long as short
Lighter SKY	+0.0096%	1h	0.06932	−0.035%	$181K	$181K	10x	as long as short
Nado SKY-PERP	+0.0100%	1h	0.06925	−0.130%	$69K	$28K	5x	as long as short
Hyperliquid SKY	+0.0100%	1h	0.06943	+0.127%	$2.9M	$915K	3x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.06933	−0.009%	$42K	$45K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.06936	+0.034%	$15.9M	$11.1M	75x	as long as short
OKX SKY-USDT-SWAP	+0.0100%	4h	0.06928	−0.087%	$827K	$1.3M	20x	as long as short
Gate SKY_USDT	+0.0100%	4h	0.06931	−0.043%	$594K	$281K	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	0.06939	+0.072%	$1.0M	$271K	100x	as long as short
KuCoin SKYUSDTM	+0.0100%	4h	0.06937	+0.043%	$413K	$295K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.06933	−0.014%	$2.9M	$1.6M	75x	as long as short
BingX SKY-USDTshort	+0.0100%	4h	0.06933	−0.014%	—	$2.4M	—
ApeX Omni SKYUSDT	+0.0100%	1h	0.06921	−0.187%	$28K	$679K	50x	as long as short
Orderly PERP_SKY_USDC_mythoslong	+0.0100%	4h	0.06934	long leg	$1K	$3K	10x
GMX SKY/USD [ETH-USDC]	L +0.0523% / S −0.0248%	1h	0.06932	−0.022%	$82K	—	50x	as long as short