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: MEXC against OKX+0.099%7-day average +0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$86as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$870.872% of the position

Long on OKX Short on MEXC

What this pair did over the last

the charts below follow

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

Price spread, last 7 days−0.096%−$10 · spread now +0.099%, 7d avg +0.050%

Together, before fees−0.084%−$8 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: MEXC is 0.049% dearer against OKX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SKY-USDT-SWAP	0.07070	0.0100	pay 0.0050% / 4h	40m 11s	$851K	$1.3M	20x
Short	MEXC SKY_USDT	0.07077	0.0100	get 0.0050% / 4h	40m 11s	$1.1M	$285K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.099%Rate

Funding earned: $0
Price spread: +0.099% → +0.050%: $4.92
Slippage, 4 orders: −$73.2
Fee OKX: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$82.28
Costs to cover: 0.872%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; MEXC: 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, 1 min ago	1.41 bp	32.1 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	1.41 bp	7.5 bp −$7	76.0 bp −$760	284.0 bp −$28.4K	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	−0.0607%	4h	0.07076	+0.079%	$195K	$104K	—	as long as short
Bybit SKYUSDT	−0.0244%	4h	0.07068	−0.028%	$7.6M	$3.4M	25x	as long as short
BloFin SKY-USDT	+0.0062%	4h	0.07097	+0.382%	$592K	$29K	75x	as long as short
Lighter SKY	+0.0096%	1h	0.07082	+0.163%	$186K	$155K	10x	as long as short
Nado SKY-PERP	+0.0100%	1h	0.07081	+0.156%	$70K	$25K	5x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.07087	+0.244%	$43K	$43K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.07077	+0.099%	$16.1M	$10.4M	75x	as long as short
OKX SKY-USDT-SWAPlong	+0.0100%	4h	0.07070	long leg	$851K	$1.3M	20x
Gate SKY_USDT	+0.0100%	4h	0.07079	+0.127%	$604K	$255K	50x	as long as short
MEXC SKY_USDTshort	+0.0100%	4h	0.07077	+0.099%	$1.1M	$285K	100x

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SKYUSDTM	+0.0100%	4h	0.07084	+0.198%	$424K	$290K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.07081	+0.156%	$2.9M	$2.0M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.07074	+0.057%	—	$2.4M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.07110	+0.566%	$20K	$682K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.07080	+0.143%	$1K	$2K	10x	as long as short
Hyperliquid SKY	+0.0158%	1h	0.07089	+0.276%	$3.0M	$927K	3x	as long as short
Injective SKY/USDC PERP	+0.0158%	1h	0.07172	+1.443%	$392	$303K	12x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0527% / S −0.0248%	1h	0.07080	+0.141%	$84K	—	50x	as long as short