Funding arb · Price arb /

SKY

all SKY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0172%/8h= +18.9% APRpaid last 24h +0.053%

Price spread now: GMX against BloFin−0.102%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on BloFin Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. GMX is 0.102% cheaper against BloFin than usual: you would sell low and buy high (spread −0.102% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 47 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin SKY-USDT	0.06698	0.0075	pay 0.0038% / 4h	1h 06m	$570K	$32K	75x
Short	GMX SKY/USD [ETH-USDC]	0.06691	L +0.0513% / S −0.0248%	get 0.0031% / 1h	6m 41s	$79K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against BloFin. 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 BloFinbpFee GMXbpOrdersPrice spread, now −0.102%Rate

Funding earned: $36.17
Price spread: −0.102% → 0.000%: −$10.15
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $2.02
Costs to cover: 0.240%
Break-even: 6.6 days

Slippage unknown: BloFin: live order book, 38 min ago; GMX: no order-book sample. Net counts fees only.

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 BloFin live order book, 38 min ago	0.74 bp	15.6 bp −$16	41.0 bp −$410	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

SKY on 18 exchanges

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	−0.0373%	4h	0.06685	−0.196%	$179K	$83K	—	as long as short
Bybit SKYUSDT	−0.0153%	4h	0.06686	−0.179%	$6.9M	$3.2M	25x	as long as short
Injective SKY/USDC PERP	+0.0033%	1h	0.06729	+0.463%	$367	$303K	12x	as long as short
BloFin SKY-USDTlong	+0.0075%	4h	0.06698	long leg	$570K	$32K	75x
Nado SKY-PERP	+0.0083%	1h	0.06691	−0.108%	$67K	$35K	5x	as long as short
Lighter SKY	+0.0096%	1h	0.06689	−0.134%	$176K	$101K	10x	as long as short
Hyperliquid SKY	+0.0100%	1h	0.06699	+0.009%	$2.8M	$770K	3x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.06690	−0.119%	$41K	$37K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.06692	−0.090%	$14.8M	$10.7M	75x	as long as short
OKX SKY-USDT-SWAP	+0.0100%	4h	0.06683	−0.224%	$781K	$1.0M	20x	as long as short

Show all 18 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate SKY_USDT	+0.0100%	4h	0.06685	−0.194%	$567K	$262K	50x	as long as short
MEXC SKY_USDT	+0.0100%	4h	0.06689	−0.134%	$1.1M	$278K	100x	as long as short
KuCoin SKYUSDTM	+0.0100%	4h	0.06692	−0.090%	$390K	$43K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.06685	−0.194%	$2.7M	$1.2M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.06687	−0.164%	—	$2.5M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.06694	−0.060%	$34K	$650K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.06694	−0.064%	$1K	$4K	10x	as long as short
GMX SKY/USD [ETH-USDC]short	L +0.0513% / S −0.0248%	1h	0.06691	−0.102%	$79K	—	50x