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 0.000%

Price spread now: OKX against KuCoin+0.088%7-day average +0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$457as in the Funding arb table

Net, price: spread back to 7d avg − costs−$447as in the Price arb table

costs, in and out, $10k−$4554.554% of the position

Long on KuCoin 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 4 days (all we have)+0.228%+$23 · spread now +0.088%, 7d avg +0.008%

Together, before fees+0.216%+$22 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 0.079% dearer against KuCoin than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SKYUSDTM	0.06855	0.0100	pay 0.0050% / 4h	3h 05m	$403K	$292K	50x
Short	OKX SKY-USDT-SWAP	0.06861	0.0100	get 0.0050% / 4h	3h 05m	$819K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.088%Rate

Funding earned: $0
Price spread: +0.088% → +0.008%: $7.94
Slippage, 4 orders: −$433.37
Fee KuCoin: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$447.43
Costs to cover: 4.554%
Break-even: never at this rate

Slippage from KuCoin: live order book, 67 min ago; OKX: live order book, just now.

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, 67 min ago	21.11 bp	183.5 bp −$183	246.0 bp −$2,460	doesn't fit	doesn't fit
Sell OKX live order book, just now	2.19 bp	32.4 bp −$32	435.6 bp −$4,356	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	−0.0269%	1h	0.06893	+0.554%	$376	$303K	12x	as long as short
Variational Omni SKY	+0.0045%	4h	0.06852	−0.039%	$183K	$113K	—	as long as short
Lighter SKY	+0.0096%	1h	0.06861	+0.090%	$179K	$139K	10x	as long as short
Nado SKY-PERP	+0.0100%	1h	0.06864	+0.128%	$76K	$32K	5x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.06863	+0.122%	$42K	$42K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.06863	+0.114%	$15.7M	$11.0M	75x	as long as short
Bybit SKYUSDT	+0.0100%	4h	0.06858	+0.044%	$7.2M	$3.2M	25x	as long as short
OKX SKY-USDT-SWAPshort	+0.0100%	4h	0.06861	+0.088%	$819K	$1.1M	20x
Gate SKY_USDT	+0.0100%	4h	0.06858	+0.044%	$583K	$282K	50x	as long as short
MEXC SKY_USDT	+0.0100%	4h	0.06862	+0.102%	$1.0M	$267K	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	0.06855	long leg	$403K	$292K	50x
Bitget SKYUSDT	+0.0100%	4h	0.06863	+0.117%	$2.8M	$1.5M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.06860	+0.073%	—	$2.4M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.06860	+0.073%	$27K	$649K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.06865	+0.149%	$1K	$3K	10x	as long as short
BloFin SKY-USDT	+0.0146%	4h	0.06864	+0.131%	$582K	$29K	75x	as long as short
Hyperliquid SKY	+0.0264%	1h	0.06870	+0.225%	$2.8M	$908K	3x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0522% / S −0.0248%	1h	0.06863	+0.109%	$81K	—	50x	as long as short