Funding arb · Price arb /

SKY

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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: KuCoin against BingX+0.029%7-day average −0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$550as in the Funding arb table

Net, price: spread back to 7d avg − costs−$544as in the Price arb table

costs, in and out, $10k−$5505.502% of the position

Long on BingX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.086%−$9 · spread now +0.029%, 7d avg −0.036%

Together, before fees−0.086%−$9 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: KuCoin is 0.065% dearer against BingX than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX SKY-USDT	0.06867	0.0100	pay 0.0050% / 4h	1h 22m	—	$2.4M	—
Short	KuCoin SKYUSDTM	0.06869	0.0100	get 0.0050% / 4h	1h 22m	$402K	$292K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.029%Rate

Funding earned: $0
Price spread: +0.029% → −0.036%: $6.52
Slippage, 4 orders: −$528.16
Fee BingX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$543.64
Costs to cover: 5.502%
Break-even: never at this rate

Slippage from BingX: live order book, 7 min ago; KuCoin: live order book, 20 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, 7 min ago	3.66 bp	19.7 bp −$20	54.1 bp −$541	264.8 bp −$26.5K	1024.9 bp −$512.4K
Sell KuCoin live order book, 20 min ago	34.98 bp	259.8 bp −$260	391.7 bp −$3,917	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	+0.379%	$376	$303K	12x	as long as short
Variational Omni SKY	+0.0072%	4h	0.06857	−0.141%	$183K	$98K	—	as long as short
BloFin SKY-USDT	+0.0078%	4h	0.06862	−0.073%	$582K	$29K	75x	as long as short
Lighter SKY	+0.0096%	1h	0.06868	+0.019%	$179K	$117K	10x	as long as short
Nado SKY-PERP	+0.0100%	1h	0.06863	−0.062%	$71K	$31K	5x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.06870	+0.048%	$42K	$44K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.06870	+0.046%	$15.6M	$11.1M	75x	as long as short
Bybit SKYUSDT	+0.0100%	4h	0.06866	−0.015%	$7.2M	$3.0M	25x	as long as short
OKX SKY-USDT-SWAP	+0.0100%	4h	0.06862	−0.073%	$801K	$1.1M	20x	as long as short
Gate SKY_USDT	+0.0100%	4h	0.06860	−0.102%	$584K	$287K	50x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SKY_USDT	+0.0100%	4h	0.06870	+0.044%	$1.0M	$267K	100x	as long as short
KuCoin SKYUSDTMshort	+0.0100%	4h	0.06869	+0.029%	$402K	$292K	50x
Bitget SKYUSDT	+0.0100%	4h	0.06868	+0.015%	$2.8M	$1.4M	75x	as long as short
BingX SKY-USDTlong	+0.0100%	4h	0.06867	long leg	—	$2.4M	—
ApeX Omni SKYUSDT	+0.0100%	1h	0.06849	−0.262%	$26K	$647K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.06864	−0.039%	$1K	$3K	10x	as long as short
Hyperliquid SKY	+0.0163%	1h	0.06878	+0.156%	$2.8M	$845K	3x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0522% / S −0.0248%	1h	0.06864	−0.044%	$81K	—	50x	as long as short