Funding arb · Price arb /

SKY

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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: KuCoin against OKX+0.029%7-day average −0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$464as in the Funding arb table

Net, price: spread back to 7d avg − costs−$461as in the Price arb table

costs, in and out, $10k−$4654.647% of the position

Long on OKX Short on KuCoin

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)−0.345%−$34 · spread now +0.029%, 7d avg −0.008%

Together, before fees−0.333%−$33 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 0.037% dearer against OKX than usual: you sell high and buy low, +$4 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	OKX SKY-USDT-SWAP	0.06872	0.0100	pay 0.0050% / 4h	3h 42m	$814K	$1.1M	20x
Short	KuCoin SKYUSDTM	0.06874	0.0100	get 0.0050% / 4h	3h 42m	$404K	$291K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.029%Rate

Funding earned: $0
Price spread: +0.029% → −0.008%: $3.72
Slippage, 4 orders: −$442.73
Fee OKX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$461.01
Costs to cover: 4.647%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; KuCoin: live order book, 30 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, 4 min ago	3.63 bp	33.9 bp −$34	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 30 min ago	21.11 bp	210.8 bp −$211	266.4 bp −$2,664	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	−0.0269%	1h	0.06893	+0.306%	$376	$303K	12x	as long as short
Variational Omni SKY	−0.0092%	4h	0.06879	+0.106%	$184K	$113K	—	as long as short
Lighter SKY	+0.0096%	1h	0.06883	+0.159%	$179K	$139K	10x	as long as short
Nado SKY-PERP	+0.0100%	1h	0.06885	+0.196%	$76K	$31K	5x	as long as short
Hyperliquid SKY	+0.0100%	1h	0.06890	+0.258%	$2.8M	$914K	3x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.06887	+0.218%	$42K	$42K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.06882	+0.141%	$15.7M	$11.0M	75x	as long as short
Bybit SKYUSDT	+0.0100%	4h	0.06872	0.000%	$7.2M	$3.2M	25x	as long as short
OKX SKY-USDT-SWAPlong	+0.0100%	4h	0.06872	long leg	$814K	$1.1M	20x
Gate SKY_USDT	+0.0100%	4h	0.06880	+0.116%	$595K	$269K	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	0.06878	+0.087%	$1.0M	$264K	100x	as long as short
KuCoin SKYUSDTMshort	+0.0100%	4h	0.06874	+0.029%	$404K	$291K	50x
Bitget SKYUSDT	+0.0100%	4h	0.06879	+0.102%	$2.8M	$1.5M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.06879	+0.102%	—	$2.4M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.06883	+0.160%	$27K	$653K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.06886	+0.198%	$1K	$3K	10x	as long as short
BloFin SKY-USDT	+0.0148%	4h	0.06887	+0.218%	$583K	$29K	75x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0522% / S −0.0248%	1h	0.06885	+0.196%	$82K	—	50x	as long as short