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 BingX+0.058%7-day average −0.076% · you sell dearer than you buy

Net, funding: paid 7d − costs−$241as in the Funding arb table

Net, price: spread back to 7d avg − costs−$210as in the Price arb table

costs, in and out, $10k−$2242.238% of the position

Long on BingX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.173%−$17 on $10k

Price spread, last 4 days (all we have)−0.036%−$4 · spread now +0.058%, 7d avg −0.076%

Together, before fees−0.210%−$21 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 0.134% dearer against BingX than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of −0.076%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX SKY-USDT	0.06866	0.0100	pay 0.0050% / 4h	3h 54m	—	$2.4M	—
Short	Gate SKY_USDT	0.06870	0.0100	get 0.0050% / 4h	3h 54m	$595K	$269K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against BingX. 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 BingXbpFee GatebpOrdersPrice spread, now +0.058%Rate

Funding earned: $0
Price spread: +0.058% → −0.076%: $13.43
Slippage, 4 orders: −$198.83
Fee BingX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$210.4
Costs to cover: 2.238%
Break-even: never at this rate

Slippage from BingX: live order book, 5 min ago; Gate: live order book, 62 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 BingX live order book, 5 min ago	3.66 bp	20.9 bp −$21	54.3 bp −$543	296.2 bp −$29.6K	997.3 bp −$498.6K
Sell Gate live order book, 62 min ago	4.36 bp	84.1 bp −$84	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	−0.0269%	1h	0.06893	+0.393%	$376	$303K	12x	as long as short
Variational Omni SKY	−0.0121%	4h	0.06854	−0.170%	$183K	$113K	—	as long as short
BloFin SKY-USDT	+0.0085%	4h	0.06858	−0.117%	$582K	$29K	75x	as long as short
Lighter SKY	+0.0096%	1h	0.06871	+0.080%	$179K	$139K	10x	as long as short
Nado SKY-PERP	+0.0100%	1h	0.06869	+0.047%	$76K	$31K	5x	as long as short
Hyperliquid SKY	+0.0100%	1h	0.06877	+0.157%	$2.8M	$913K	3x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.06872	+0.091%	$42K	$42K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.06871	+0.080%	$15.7M	$11.0M	75x	as long as short
Bybit SKYUSDT	+0.0100%	4h	0.06867	+0.015%	$7.2M	$3.2M	25x	as long as short
OKX SKY-USDT-SWAP	+0.0100%	4h	0.06864	−0.029%	$820K	$1.1M	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate SKY_USDTshort	+0.0100%	4h	0.06870	+0.058%	$595K	$269K	50x
MEXC SKY_USDT	+0.0100%	4h	0.06869	+0.044%	$1.0M	$263K	100x	as long as short
KuCoin SKYUSDTM	+0.0100%	4h	0.06865	−0.015%	$404K	$291K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.06871	+0.073%	$2.8M	$1.5M	75x	as long as short
BingX SKY-USDTlong	+0.0100%	4h	0.06866	long leg	—	$2.4M	—
ApeX Omni SKYUSDT	+0.0100%	1h	0.06862	−0.058%	$27K	$653K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.06873	+0.106%	$1K	$3K	10x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0521% / S −0.0248%	1h	0.06875	+0.127%	$81K	—	50x	as long as short