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: Gate against MEXC+0.118%7-day average −0.120% · you sell dearer than you buy

Net, funding: paid 7d − costs−$215as in the Funding arb table

Net, price: spread back to 7d avg − costs−$173as in the Price arb table

costs, in and out, $10k−$1971.972% of the position

Long on MEXC Short on Gate

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)−0.103%−$10 · spread now +0.118%, 7d avg −0.120%

Together, before fees−0.277%−$28 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: Gate is 0.238% dearer against MEXC than usual: you sell high and buy low, +$24 on $10k if it goes back to its 7-day average of −0.120%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SKY_USDT	0.06788	0.0100	pay 0.0050% / 4h	3h 34m	$1.0M	$267K	100x
Short	Gate SKY_USDT	0.06796	0.0100	get 0.0050% / 4h	3h 34m	$581K	$293K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against MEXC. 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 MEXCbpFee GatebpOrdersPrice spread, now +0.118%Rate

Funding earned: $0
Price spread: +0.118% → −0.120%: $23.82
Slippage, 4 orders: −$178.23
Fee MEXC: 2 bp × 2 orders: −$4
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$173.41
Costs to cover: 1.972%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; Gate: live order book, 61 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 MEXC live order book, 1 min ago	0.74 bp	8.0 bp −$8	71.4 bp −$714	283.5 bp −$28.3K	doesn't fit
Sell Gate live order book, 61 min ago	5.16 bp	103.5 bp −$104	doesn't fit	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
Bybit SKYUSDT	−0.0087%	4h	0.06783	−0.074%	$7.1M	$3.3M	25x	as long as short
Variational Omni SKY	+0.0004%	4h	0.06790	+0.035%	$181K	$98K	—	as long as short
Injective SKY/USDC PERP	+0.0033%	1h	0.06893	+1.547%	$376	$303K	12x	as long as short
ApeX Omni SKYUSDT	+0.0087%	1h	0.06797	+0.133%	$34K	$654K	50x	as long as short
Lighter SKY	+0.0096%	1h	0.06787	−0.016%	$178K	$105K	10x	as long as short
BloFin SKY-USDT	+0.0100%	4h	0.06789	+0.015%	$574K	$28K	75x	as long as short
Nado SKY-PERP	+0.0100%	1h	0.06788	0.000%	$67K	$35K	5x	as long as short
Hyperliquid SKY	+0.0100%	1h	0.06798	+0.144%	$2.8M	$892K	3x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.06795	+0.097%	$41K	$45K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.06787	−0.009%	$15.2M	$11.5M	75x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX SKY-USDT-SWAP	+0.0100%	4h	0.06781	−0.103%	$794K	$1.2M	20x	as long as short
Gate SKY_USDTshort	+0.0100%	4h	0.06796	+0.118%	$581K	$293K	50x
MEXC SKY_USDTlong	+0.0100%	4h	0.06788	long leg	$1.0M	$267K	100x
KuCoin SKYUSDTM	+0.0100%	4h	0.06796	+0.118%	$402K	$293K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.06784	−0.059%	$2.8M	$1.5M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.06785	−0.044%	—	$2.5M	—	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.06788	−0.006%	$1K	$5K	10x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0519% / S −0.0248%	1h	0.06787	−0.010%	$80K	—	50x	as long as short