Funding arb · Price arb /

SKY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against Gate+0.118%7-day average +0.075% · you sell dearer than you buy

Net, funding: paid 7d − costs−$200as in the Funding arb table

Net, price: spread back to 7d avg − costs−$213as in the Price arb table

costs, in and out, $10k−$2172.170% of the position

Long on Gate Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.173%+$17 on $10k

Price spread, last 4 days (all we have)−0.035%−$3 · spread now +0.118%, 7d avg +0.075%

Together, before fees+0.138%+$14 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: BingX is 0.043% dearer against Gate than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.075%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SKY_USDT	0.06760	0.0100	pay 0.0050% / 4h	3h 54m	$573K	$284K	50x
Short	BingX SKY-USDT	0.06768	0.0100	get 0.0050% / 4h	3h 54m	—	$2.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Gate. 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 GatebpFee BingXbpOrdersPrice spread, now +0.118%Rate

Funding earned: $0
Price spread: +0.118% → +0.075%: $4.31
Slippage, 4 orders: −$192.02
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BingX: 5 bp × 2 orders: −$10
Net: −$212.71
Costs to cover: 2.170%
Break-even: never at this rate

Slippage from Gate: live order book, 42 min ago; BingX: live order book, 10 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 Gate live order book, 42 min ago	5.16 bp	77.4 bp −$77	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 10 min ago	2.94 bp	18.7 bp −$19	61.1 bp −$611	256.6 bp −$25.7K	861.7 bp −$430.9K

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
Injective SKY/USDC PERP	+0.0033%	1h	0.06893	+1.967%	$376	$303K	12x	as long as short
Variational Omni SKY	+0.0079%	4h	0.06770	+0.154%	$181K	$98K	—	as long as short
Lighter SKY	+0.0096%	1h	0.06772	+0.172%	$178K	$105K	10x	as long as short
BloFin SKY-USDT	+0.0100%	4h	0.06771	+0.163%	$580K	$28K	75x	as long as short
Nado SKY-PERP	+0.0100%	1h	0.06774	+0.207%	$69K	$31K	5x	as long as short
Hyperliquid SKY	+0.0100%	1h	0.06782	+0.321%	$2.8M	$864K	3x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.06776	+0.230%	$41K	$44K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.06771	+0.162%	$15.3M	$11.2M	75x	as long as short
Bybit SKYUSDT	+0.0100%	4h	0.06764	+0.059%	$7.1M	$3.2M	25x	as long as short
OKX SKY-USDT-SWAP	+0.0100%	4h	0.06774	+0.207%	$792K	$1.2M	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate SKY_USDTlong	+0.0100%	4h	0.06760	long leg	$573K	$284K	50x
MEXC SKY_USDT	+0.0100%	4h	0.06771	+0.163%	$1.0M	$265K	100x	as long as short
KuCoin SKYUSDTM	+0.0100%	4h	0.06774	+0.207%	$397K	$291K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.06769	+0.133%	$2.8M	$1.4M	75x	as long as short
BingX SKY-USDTshort	+0.0100%	4h	0.06768	+0.118%	—	$2.5M	—
ApeX Omni SKYUSDT	+0.0100%	1h	0.06780	+0.296%	$27K	$649K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.06772	+0.183%	$1K	$3K	10x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0519% / S −0.0248%	1h	0.06774	+0.201%	$80K	—	50x	as long as short