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: KuCoin against BingX+0.085%7-day average −0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs−$865as in the Funding arb table

Net, price: spread back to 7d avg − costs−$853as in the Price arb table

costs, in and out, $10k−$8658.655% of the position

Long on BingX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.098%−$10 · spread now +0.085%, 7d avg −0.041%

Together, before fees−0.098%−$10 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 0.125% dearer against BingX than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of −0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX SKY-USDT	0.07100	0.0100	pay 0.0050% / 4h	1h 03m	—	$2.4M	—
Short	KuCoin SKYUSDTM	0.07106	0.0100	get 0.0050% / 4h	1h 03m	$430K	$289K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against BingX. 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 BingXbpFee KuCoinbpOrdersPrice spread, now +0.085%Rate

Funding earned: $0
Price spread: +0.085% → −0.041%: $12.54
Slippage, 4 orders: −$843.49
Fee BingX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$852.95
Costs to cover: 8.655%
Break-even: never at this rate

Slippage from BingX: live order book, 10 min ago; KuCoin: live order book, 68 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 BingX live order book, 10 min ago	2.83 bp	14.2 bp −$14	43.0 bp −$430	210.9 bp −$21.1K	775.1 bp −$387.5K
Sell KuCoin live order book, 68 min ago	37.53 bp	580.7 bp −$581	732.7 bp −$7,327	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	−0.0652%	4h	0.07080	−0.288%	$194K	$104K	—	as long as short
Bybit SKYUSDT	−0.0253%	4h	0.07102	+0.028%	$7.7M	$3.4M	25x	as long as short
Injective SKY/USDC PERP	+0.0014%	1h	0.07172	+1.014%	$392	$303K	12x	as long as short
Nado SKY-PERP	+0.0073%	1h	0.07108	+0.113%	$70K	$26K	5x	as long as short
Lighter SKY	+0.0096%	1h	0.07104	+0.063%	$186K	$163K	10x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.07109	+0.124%	$43K	$36K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.07105	+0.064%	$16.2M	$10.3M	75x	as long as short
OKX SKY-USDT-SWAP	+0.0100%	4h	0.07101	+0.014%	$856K	$1.3M	20x	as long as short
Gate SKY_USDT	+0.0100%	4h	0.07100	0.000%	$606K	$261K	50x	as long as short
MEXC SKY_USDT	+0.0100%	4h	0.07107	+0.099%	$1.1M	$290K	100x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SKYUSDTMshort	+0.0100%	4h	0.07106	+0.085%	$430K	$289K	50x
Bitget SKYUSDT	+0.0100%	4h	0.07105	+0.070%	$2.9M	$2.1M	75x	as long as short
BingX SKY-USDTlong	+0.0100%	4h	0.07100	long leg	—	$2.4M	—
ApeX Omni SKYUSDT	+0.0100%	1h	0.07083	−0.239%	$20K	$684K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.07106	+0.090%	$1K	$2K	10x	as long as short
BloFin SKY-USDT	+0.0138%	4h	0.07103	+0.042%	$594K	$29K	75x	as long as short
Hyperliquid SKY	+0.0316%	1h	0.07121	+0.301%	$3.0M	$928K	3x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0529% / S −0.0248%	1h	0.07109	+0.132%	$84K	—	50x	as long as short