Funding arb · Price arb /

SKY

all SKY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.023%

Price spread now: KuCoin against Bybit−0.044%7-day average −0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$713as in the Funding arb table

Net, price: spread back to 7d avg − costs−$726as in the Price arb table

costs, in and out, $10k−$7227.222% of the position

Long on Bybit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.091%+$9 on $10k

Price spread, last 4 days (all we have)−0.934%−$93 · spread now −0.044%, 7d avg −0.011%

Together, before fees−0.844%−$84 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 0.033% cheaper against Bybit than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SKYUSDT	0.06786	0.0100	pay 0.0050% / 4h	3h 17m	$7.1M	$3.3M	25x
Short	KuCoin SKYUSDTM	0.06783	0.0100	get 0.0050% / 4h	3h 17m	$402K	$291K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Bybit. 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 BybitbpFee KuCoinbpOrdersPrice spread, now −0.044%Rate

Funding earned: $0
Price spread: −0.044% → −0.011%: −$3.33
Slippage, 4 orders: −$699.21
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$725.54
Costs to cover: 7.222%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; KuCoin: live order book, 6 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 Bybit live order book, 1 min ago	1.47 bp	34.1 bp −$34	283.3 bp −$2,833	doesn't fit	doesn't fit
Sell KuCoin live order book, 6 min ago	37.60 bp	315.6 bp −$316	412.4 bp −$4,124	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
Variational Omni SKY	−0.0004%	4h	0.06793	+0.096%	$181K	$98K	—	as long as short
Injective SKY/USDC PERP	+0.0033%	1h	0.06893	+1.577%	$376	$303K	12x	as long as short
Lighter SKY	+0.0096%	1h	0.06791	+0.080%	$179K	$106K	10x	as long as short
Nado SKY-PERP	+0.0100%	1h	0.06789	+0.037%	$67K	$35K	5x	as long as short
Hyperliquid SKY	+0.0100%	1h	0.06800	+0.211%	$2.8M	$926K	3x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.06794	+0.118%	$41K	$45K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.06789	+0.049%	$15.2M	$11.7M	75x	as long as short
Bybit SKYUSDTlong	+0.0100%	4h	0.06786	long leg	$7.1M	$3.3M	25x
OKX SKY-USDT-SWAP	+0.0100%	4h	0.06789	+0.044%	$794K	$1.2M	20x	as long as short
Gate SKY_USDT	+0.0100%	4h	0.06791	+0.074%	$581K	$296K	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	0.06790	+0.059%	$1.0M	$268K	100x	as long as short
KuCoin SKYUSDTMshort	+0.0100%	4h	0.06783	−0.044%	$402K	$291K	50x
Bitget SKYUSDT	+0.0100%	4h	0.06789	+0.044%	$2.8M	$1.5M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.06789	+0.044%	—	$2.5M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.06795	+0.133%	$34K	$653K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.06795	+0.127%	$1K	$5K	10x	as long as short
BloFin SKY-USDT	+0.0102%	4h	0.06787	+0.015%	$578K	$28K	75x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0519% / S −0.0249%	1h	0.06793	+0.106%	$81K	—	50x	as long as short