Funding arb · Price arb /

SKY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against OKX−0.099%7-day average −0.052% · you buy dearer than you sell

Net, funding: paid 7d − costs−$256as in the Funding arb table

Net, price: spread back to 7d avg − costs−$244as in the Price arb table

costs, in and out, $10k−$2392.395% of the position

Long on OKX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.161%−$16 on $10k

Price spread, last 4 days (all we have)−0.260%−$26 · spread now −0.099%, 7d avg −0.052%

Together, before fees−0.421%−$42 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 0.047% cheaper against OKX than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.052%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SKY-USDT-SWAP	0.07077	0.0100	pay 0.0050% / 4h	1h 14m	$852K	$1.4M	20x
Short	Gate SKY_USDT	0.07070	0.0100	get 0.0050% / 4h	1h 14m	$604K	$261K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against OKX. 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 OKXbpFee GatebpOrdersPrice spread, now −0.099%Rate

Funding earned: $0
Price spread: −0.099% → −0.052%: −$4.68
Slippage, 4 orders: −$214.47
Fee OKX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$244.15
Costs to cover: 2.395%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Gate: live order book, 1 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 OKX live order book, 2 min ago	3.53 bp	26.5 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	4.24 bp	109.6 bp −$110	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
Variational Omni SKY	−0.0608%	4h	0.07071	−0.083%	$194K	$104K	—	as long as short
Bybit SKYUSDT	−0.0313%	4h	0.07074	−0.042%	$7.7M	$3.4M	25x	as long as short
Injective SKY/USDC PERP	+0.0014%	1h	0.07172	+1.342%	$392	$303K	12x	as long as short
Nado SKY-PERP	+0.0066%	1h	0.07083	+0.081%	$70K	$26K	5x	as long as short
BloFin SKY-USDT	+0.0081%	4h	0.07082	+0.071%	$593K	$30K	75x	as long as short
Lighter SKY	+0.0096%	1h	0.07086	+0.120%	$186K	$163K	10x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.07083	+0.081%	$43K	$36K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.07085	+0.115%	$16.1M	$10.3M	75x	as long as short
OKX SKY-USDT-SWAPlong	+0.0100%	4h	0.07077	long leg	$852K	$1.4M	20x
Gate SKY_USDTshort	+0.0100%	4h	0.07070	−0.099%	$604K	$261K	50x

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SKY_USDT	+0.0100%	4h	0.07085	+0.113%	$1.1M	$289K	100x	as long as short
KuCoin SKYUSDTM	+0.0100%	4h	0.07085	+0.113%	$427K	$288K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.07086	+0.127%	$2.9M	$2.1M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.07081	+0.057%	—	$2.4M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.07086	+0.127%	$20K	$684K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.07081	+0.054%	$1K	$2K	10x	as long as short
Hyperliquid SKY	+0.0295%	1h	0.07096	+0.270%	$3.0M	$930K	3x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0527% / S −0.0248%	1h	0.07079	+0.027%	$84K	—	50x	as long as short