Funding arb · Price arb /

SKY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0430%/8h= −47.1% APRpaid last 24h −0.119%

Price spread now: Aster against GMX+0.033%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Aster is 0.033% dearer against GMX than usual: you sell high and buy low (spread +0.033% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 6 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX SKY/USD [ETH-USDC]	0.07134	L +0.0530% / S −0.0248%	pay 0.0066% / 1h	26m 54s	$84K	—	50x
Short	Aster SKYUSDT	0.07137	0.0100	get 0.0050% / 4h	1h 26m	$43K	$36K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against GMX. 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 GMXbpFee AsterbpOrdersPrice spread, now +0.033%Rate

Funding earned: −$90.35
Price spread: +0.033% → 0.000%: $3.3
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: −$107.05
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Aster: 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 GMX no order-book sample	—	—	—	—	—
Sell Aster no order-book sample	—	—	—	—	—

GMX and Aster: 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 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	−0.0515%	4h	0.07124	−0.143%	$196K	$104K	—	as long as short
Bybit SKYUSDT	−0.0224%	4h	0.07125	−0.130%	$7.8M	$3.4M	25x	as long as short
Injective SKY/USDC PERP	+0.0014%	1h	0.07172	+0.528%	$392	$303K	12x	as long as short
Nado SKY-PERP	+0.0065%	1h	0.07133	−0.022%	$71K	$25K	5x	as long as short
Lighter SKY	+0.0096%	1h	0.07137	+0.042%	$187K	$163K	10x	as long as short
Aster SKYUSDTshort	+0.0100%	4h	0.07137	+0.033%	$43K	$36K	20x
Binance SKYUSDT	+0.0100%	4h	0.07139	+0.071%	$16.4M	$9.7M	75x	as long as short
OKX SKY-USDT-SWAP	+0.0100%	4h	0.07094	−0.565%	$855K	$1.3M	20x	as long as short
Gate SKY_USDT	+0.0100%	4h	0.07125	−0.130%	$612K	$254K	50x	as long as short
MEXC SKY_USDT	+0.0100%	4h	0.07074	−0.845%	$1.1M	$288K	100x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SKYUSDTM	+0.0100%	4h	0.07055	−1.112%	$431K	$283K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.07039	−1.336%	$2.9M	$2.0M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.07130	−0.060%	—	$2.4M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.07146	+0.164%	$20K	$684K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.07137	+0.035%	$692	$2K	10x	as long as short
BloFin SKY-USDT	+0.0106%	4h	0.07134	−0.004%	$601K	$30K	75x	as long as short
Hyperliquid SKY	+0.0325%	1h	0.07145	+0.150%	$3.0M	$907K	3x	as long as short
GMX SKY/USD [ETH-USDC]long	L +0.0530% / S −0.0248%	1h	0.07134	long leg	$84K	—	50x