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: OKX against KuCoin−0.117%7-day average +0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$574as in the Funding arb table

Net, price: spread back to 7d avg − costs−$586as in the Price arb table

costs, in and out, $10k−$5735.731% of the position

Long on KuCoin Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.012%−$1 on $10k

Price spread, last 4 days (all we have)+0.349%+$35 · spread now −0.117%, 7d avg +0.008%

Together, before fees+0.337%+$34 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: OKX is 0.124% cheaper against KuCoin than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of +0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SKYUSDTM	0.06853	0.0100	pay 0.0050% / 4h	1h 38m	$401K	$292K	50x
Short	OKX SKY-USDT-SWAP	0.06845	0.0100	get 0.0050% / 4h	1h 38m	$799K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against KuCoin. 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 KuCoinbpFee OKXbpOrdersPrice spread, now −0.117%Rate

Funding earned: $0
Price spread: −0.117% → +0.008%: −$12.45
Slippage, 4 orders: −$551.08
Fee KuCoin: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$585.53
Costs to cover: 5.731%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; OKX: live order book, 3 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 KuCoin live order book, 5 min ago	34.98 bp	252.4 bp −$252	406.1 bp −$4,061	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	2.92 bp	28.8 bp −$29	409.9 bp −$4,099	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	+0.584%	$376	$303K	12x	as long as short
Variational Omni SKY	+0.0059%	4h	0.06859	+0.092%	$183K	$98K	—	as long as short
Lighter SKY	+0.0096%	1h	0.06863	+0.150%	$179K	$117K	10x	as long as short
Nado SKY-PERP	+0.0100%	1h	0.06850	−0.040%	$71K	$31K	5x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.06854	+0.013%	$42K	$44K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.06847	−0.088%	$15.6M	$11.2M	75x	as long as short
Bybit SKYUSDT	+0.0100%	4h	0.06844	−0.131%	$7.1M	$3.0M	25x	as long as short
OKX SKY-USDT-SWAPshort	+0.0100%	4h	0.06845	−0.117%	$799K	$1.1M	20x
Gate SKY_USDT	+0.0100%	4h	0.06843	−0.146%	$583K	$286K	50x	as long as short
MEXC SKY_USDT	+0.0100%	4h	0.06849	−0.058%	$999K	$266K	100x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SKYUSDTMlong	+0.0100%	4h	0.06853	long leg	$401K	$292K	50x
Bitget SKYUSDT	+0.0100%	4h	0.06851	−0.029%	$2.8M	$1.4M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.06845	−0.117%	—	$2.4M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.06868	+0.219%	$26K	$645K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.06862	+0.136%	$1K	$3K	10x	as long as short
BloFin SKY-USDT	+0.0109%	4h	0.06867	+0.204%	$581K	$29K	75x	as long as short
Hyperliquid SKY	+0.0125%	1h	0.06860	+0.095%	$2.8M	$882K	3x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0523% / S −0.0248%	1h	0.06864	+0.159%	$81K	—	50x	as long as short