Funding arb · Price arb /

SKY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.023%

Price spread now: Bybit against KuCoin−0.118%7-day average +0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$481as in the Funding arb table

Net, price: spread back to 7d avg − costs−$485as in the Price arb table

costs, in and out, $10k−$4724.721% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.091%−$9 on $10k

Price spread, last 4 days (all we have)+0.400%+$40 · spread now −0.118%, 7d avg +0.012%

Together, before fees+0.309%+$31 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: Bybit is 0.130% cheaper against KuCoin than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of +0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SKYUSDTM	0.06803	0.0100	pay 0.0050% / 4h	16m 28s	$399K	$292K	50x
Short	Bybit SKYUSDT	0.06795	0.0100	get 0.0050% / 4h	16m 28s	$7.2M	$3.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against KuCoin. 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 KuCoinbpFee BybitbpOrdersPrice spread, now −0.118%Rate

Funding earned: $0
Price spread: −0.118% → +0.012%: −$12.99
Slippage, 4 orders: −$449.1
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$485.09
Costs to cover: 4.721%
Break-even: never at this rate

Slippage from KuCoin: live order book, 17 min ago; Bybit: live order book, 2 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 KuCoin live order book, 17 min ago	26.46 bp	199.4 bp −$199	269.0 bp −$2,690	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	2.21 bp	28.6 bp −$29	209.9 bp −$2,099	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
Injective SKY/USDC PERP	+0.0033%	1h	0.06893	+1.323%	$376	$303K	12x	as long as short
BloFin SKY-USDT	+0.0075%	4h	0.06803	0.000%	$577K	$28K	75x	as long as short
Lighter SKY	+0.0096%	1h	0.06802	−0.019%	$179K	$107K	10x	as long as short
Nado SKY-PERP	+0.0100%	1h	0.06800	−0.048%	$69K	$31K	5x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.06802	−0.012%	$41K	$44K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.06801	−0.026%	$15.4M	$11.0M	75x	as long as short
Bybit SKYUSDTshort	+0.0100%	4h	0.06795	−0.118%	$7.2M	$3.2M	25x
OKX SKY-USDT-SWAP	+0.0100%	4h	0.06798	−0.073%	$795K	$1.2M	20x	as long as short
Gate SKY_USDT	+0.0100%	4h	0.06791	−0.176%	$576K	$291K	50x	as long as short
MEXC SKY_USDT	+0.0100%	4h	0.06802	−0.015%	$1.0M	$274K	100x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SKYUSDTMlong	+0.0100%	4h	0.06803	long leg	$399K	$292K	50x
Bitget SKYUSDT	+0.0100%	4h	0.06802	−0.015%	$2.8M	$1.4M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.06803	0.000%	—	$2.5M	—	as long as short
Variational Omni SKY	+0.0100%	4h	0.06783	−0.289%	$181K	$98K	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.06812	+0.132%	$27K	$648K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.06803	−0.004%	$1K	$3K	10x	as long as short
Hyperliquid SKY	+0.0138%	1h	0.06810	+0.104%	$2.8M	$861K	3x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0520% / S −0.0248%	1h	0.06803	0.000%	$81K	—	50x	as long as short