Funding arb · Price arb /

SKY

all SKY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0148%/8h= +16.2% APRpaid last 24h +0.038%

Price spread now: GMX against OKX+0.001%7-day average — · you sell dearer than you buy

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

Long on OKX 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SKY-USDT-SWAP	0.07172	0.0100	pay 0.0050% / 4h	1h 46m	$860K	$1.3M	20x
Short	GMX SKY/USD [ETH-USDC]	0.07172	L +0.0532% / S −0.0248%	get 0.0031% / 1h	46m 19s	$85K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.001%Rate

Funding earned: $31.01
Price spread: +0.001% → 0.000%: $0.14
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $9.15
Costs to cover: 0.220%
Break-even: 4.9 days

Slippage unknown: OKX: live order book, 5 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 OKX live order book, 5 min ago	3.48 bp	24.8 bp −$25	1685.5 bp −$16.9K	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	−0.0493%	4h	0.07181	+0.131%	$198K	$104K	—	as long as short
Bybit SKYUSDT	−0.0175%	4h	0.07164	−0.112%	$7.8M	$3.3M	25x	as long as short
Injective SKY/USDC PERP	+0.0014%	1h	0.07197	+0.349%	$393	$260K	12x	as long as short
Nado SKY-PERP	+0.0040%	1h	0.07168	−0.049%	$71K	$25K	5x	as long as short
BloFin SKY-USDT	+0.0085%	4h	0.07170	−0.028%	$604K	$33K	75x	as long as short
Lighter SKY	+0.0096%	1h	0.07179	+0.098%	$188K	$163K	10x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.07173	+0.017%	$43K	$36K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.07179	+0.093%	$16.5M	$9.5M	75x	as long as short
OKX SKY-USDT-SWAPlong	+0.0100%	4h	0.07172	long leg	$860K	$1.3M	20x
Gate SKY_USDT	+0.0100%	4h	0.07175	+0.042%	$616K	$252K	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	0.07171	−0.014%	$1.1M	$280K	100x	as long as short
KuCoin SKYUSDTM	+0.0100%	4h	0.07163	−0.125%	$438K	$279K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.07179	+0.098%	$3.0M	$2.0M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.07166	−0.084%	—	$2.4M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.07176	+0.056%	$20K	$686K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.07173	+0.017%	$696	$2K	10x	as long as short
Hyperliquid SKY	+0.0360%	1h	0.07180	+0.113%	$3.0M	$906K	3x	as long as short
GMX SKY/USD [ETH-USDC]short	L +0.0532% / S −0.0248%	1h	0.07172	+0.001%	$85K	—	50x