Funding arb · Price arb /

SKY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against Bitget−0.072%7-day average +0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$110as in the Funding arb table

Net, price: spread back to 7d avg − costs−$116as in the Price arb table

costs, in and out, $10k−$1091.087% of the position

Long on Bitget Short on OKX

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+0.165%+$16 · spread now −0.072%, 7d avg +0.004%

Together, before fees+0.152%+$15 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: OKX is 0.076% cheaper against Bitget than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SKYUSDT	0.06912	0.0100	pay 0.0050% / 4h	2h 02m	$2.9M	$1.6M	75x
Short	OKX SKY-USDT-SWAP	0.06907	0.0100	get 0.0050% / 4h	2h 02m	$825K	$1.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Bitget. 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 BitgetbpFee OKXbpOrdersPrice spread, now −0.072%Rate

Funding earned: $0
Price spread: −0.072% → +0.004%: −$7.64
Slippage, 4 orders: −$86.75
Fee Bitget: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$116.38
Costs to cover: 1.087%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; OKX: live order book, 4 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 Bitget live order book, 5 min ago	6.51 bp	20.9 bp −$21	58.3 bp −$583	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	0.72 bp	38.8 bp −$39	484.7 bp −$4,847	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	−0.155%	$184K	$126K	—	as long as short
Bybit SKYUSDT	−0.0086%	4h	0.06905	−0.101%	$7.3M	$3.3M	25x	as long as short
Injective SKY/USDC PERP	+0.0033%	1h	0.07172	+3.762%	$392	$303K	12x	as long as short
Lighter SKY	+0.0096%	1h	0.06909	−0.048%	$180K	$181K	10x	as long as short
Nado SKY-PERP	+0.0100%	1h	0.06915	+0.051%	$69K	$28K	5x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.06916	+0.058%	$42K	$43K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.06912	0.000%	$15.8M	$11.1M	75x	as long as short
OKX SKY-USDT-SWAPshort	+0.0100%	4h	0.06907	−0.072%	$825K	$1.2M	20x
Gate SKY_USDT	+0.0100%	4h	0.06906	−0.087%	$593K	$283K	50x	as long as short
MEXC SKY_USDT	+0.0100%	4h	0.06912	0.000%	$1.0M	$287K	100x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SKYUSDTM	+0.0100%	4h	0.06913	+0.014%	$412K	$294K	50x	as long as short
Bitget SKYUSDTlong	+0.0100%	4h	0.06912	long leg	$2.9M	$1.6M	75x
BingX SKY-USDT	+0.0100%	4h	0.06908	−0.058%	—	$2.4M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.06913	+0.014%	$28K	$666K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.06916	+0.061%	$1K	$3K	10x	as long as short
Hyperliquid SKY	+0.0122%	1h	0.06930	+0.265%	$2.9M	$928K	3x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0522% / S −0.0248%	1h	0.06913	+0.012%	$82K	—	50x	as long as short