Funding arb · Price arb /

SKY

all SKY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0148%/8h= +16.2% APRpaid last 24h +0.038%

Price spread now: GMX against Bitget−0.061%7-day average — · you buy dearer than you sell

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

Long on Bitget 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

Funding pays, the price is against you. GMX is 0.061% cheaper against Bitget than usual: you would sell low and buy high (spread −0.061% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 33 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SKYUSDT	0.07027	0.0100	pay 0.0050% / 4h	3h 35m	$2.9M	$1.6M	75x
Short	GMX SKY/USD [ETH-USDC]	0.07023	L +0.0525% / S −0.0248%	get 0.0031% / 1h	35m 40s	$83K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bitget. 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 BitgetbpFee GMXbpOrdersPrice spread, now −0.061%Rate

Funding earned: $31.01
Price spread: −0.061% → 0.000%: −$6.12
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $0.89
Costs to cover: 0.240%
Break-even: 6.8 days

Slippage unknown: Bitget: live order book, 2 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 Bitget live order book, 2 min ago	4.98 bp	29.3 bp −$29	84.3 bp −$843	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
Variational Omni SKY	−0.0625%	4h	0.07014	−0.186%	$201K	$127K	—	as long as short
Bybit SKYUSDT	−0.0582%	4h	0.07020	−0.100%	$7.6M	$3.5M	25x	as long as short
Injective SKY/USDC PERP	+0.0033%	1h	0.07172	+2.063%	$392	$303K	12x	as long as short
Nado SKY-PERP	+0.0041%	1h	0.07027	0.000%	$69K	$27K	5x	as long as short
Lighter SKY	+0.0096%	1h	0.07028	+0.013%	$189K	$170K	10x	as long as short
Hyperliquid SKY	+0.0100%	1h	0.07036	+0.132%	$2.9M	$898K	3x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.07029	+0.030%	$42K	$44K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.07029	+0.029%	$16.2M	$10.9M	75x	as long as short
OKX SKY-USDT-SWAP	+0.0100%	4h	0.07023	−0.057%	$842K	$1.3M	20x	as long as short
Gate SKY_USDT	+0.0100%	4h	0.07017	−0.142%	$590K	$264K	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	0.07028	+0.014%	$1.0M	$283K	100x	as long as short
KuCoin SKYUSDTM	+0.0100%	4h	0.07016	−0.157%	$411K	$291K	50x	as long as short
Bitget SKYUSDTlong	+0.0100%	4h	0.07027	long leg	$2.9M	$1.6M	75x
BingX SKY-USDT	+0.0100%	4h	0.07021	−0.085%	—	$2.4M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.06981	−0.655%	$24K	$680K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.07026	−0.011%	$943	$3K	10x	as long as short
BloFin SKY-USDT	+0.0147%	4h	0.06983	−0.626%	$594K	$29K	75x	as long as short
GMX SKY/USD [ETH-USDC]short	L +0.0525% / S −0.0248%	1h	0.07023	−0.061%	$83K	—	50x