Funding arb · Price arb /

SKY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Gate against ApeX Omni−0.087%96s7-day average −0.146% · you buy dearer than you sell

Net, funding: paid 7d − costs−$214as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2082.081% of the position

Long on ApeX Omni Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.057%−$6 on $10k

Price spread, last 4 days (all we have)−0.895%−$90 · spread now −0.087%, 7d avg −0.146%

Together, before fees−0.952%−$95 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 0.059% dearer against ApeX Omni than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.146%. The two prices were read 96 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni SKYUSDT	0.06913	0.0100	pay 0.0013% / 1h	3m 52s	$28K	$666K	50x
Short	Gate SKY_USDT	0.06907	0.0100	get 0.0050% / 4h	2h 03m	$593K	$283K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against ApeX Omni. 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 ApeX OmnibpFee GatebpOrdersPrice spread, now −0.087%Rate

Funding earned: $0
Price spread: −0.087% → −0.146%: $5.92
Slippage, 4 orders: −$183.08
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$202.16
Costs to cover: 2.081%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 64 min ago; Gate: live order book, 62 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 ApeX Omni live order book, 64 min ago	6.40 bp	14.1 bp −$14	94.1 bp −$941	doesn't fit	doesn't fit
Sell Gate live order book, 62 min ago	4.27 bp	94.2 bp −$94	doesn't fit	doesn't fit	doesn't fit

SKY on 17 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	−0.0456%	4h	0.06901	−0.169%	$184K	$126K	—	as long as short
Bybit SKYUSDT	−0.0101%	4h	0.06908	−0.072%	$7.3M	$3.3M	25x	as long as short
Injective SKY/USDC PERP	+0.0033%	1h	0.07172	+3.747%	$392	$303K	12x	as long as short
Lighter SKY	+0.0096%	1h	0.06908	−0.067%	$180K	$181K	10x	as long as short
Nado SKY-PERP	+0.0100%	1h	0.06911	−0.025%	$69K	$28K	5x	as long as short
Hyperliquid SKY	+0.0100%	1h	0.06927	+0.198%	$2.9M	$917K	3x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.06916	+0.043%	$42K	$43K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.06913	0.000%	$15.8M	$11.0M	75x	as long as short
OKX SKY-USDT-SWAP	+0.0100%	4h	0.06909	−0.058%	$824K	$1.2M	20x	as long as short
Gate SKY_USDTshort	+0.0100%	4h	0.06907	−0.087%	$593K	$283K	50x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SKY_USDT	+0.0100%	4h	0.06911	−0.029%	$1.0M	$287K	100x	as long as short
KuCoin SKYUSDTM	+0.0100%	4h	0.06915	+0.029%	$412K	$294K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.06914	+0.014%	$2.9M	$1.6M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.06909	−0.058%	—	$2.4M	—	as long as short
ApeX Omni SKYUSDTlong	+0.0100%	1h	0.06913	long leg	$28K	$666K	50x
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.06915	+0.036%	$1K	$3K	10x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0523% / S −0.0248%	1h	0.06912	−0.010%	$82K	—	50x	as long as short