Funding arb · Price arb /

SKY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against OKX−0.072%7-day average −0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$265as in the Funding arb table

Net, price: spread back to 7d avg − costs−$251as in the Price arb table

costs, in and out, $10k−$2492.493% of the position

Long on OKX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.161%−$16 on $10k

Price spread, last 4 days (all we have)−0.160%−$16 · spread now −0.072%, 7d avg −0.051%

Together, before fees−0.321%−$32 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 0.022% cheaper against OKX than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.051%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SKY-USDT-SWAP	0.06912	0.0100	pay 0.0050% / 4h	2h 04m	$824K	$1.2M	20x
Short	Gate SKY_USDT	0.06907	0.0100	get 0.0050% / 4h	2h 04m	$593K	$283K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against OKX. 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 OKXbpFee GatebpOrdersPrice spread, now −0.072%Rate

Funding earned: $0
Price spread: −0.072% → −0.051%: −$2.17
Slippage, 4 orders: −$224.26
Fee OKX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$251.43
Costs to cover: 2.493%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Gate: live order book, 62 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 OKX live order book, 2 min ago	0.72 bp	31.8 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 62 min ago	4.27 bp	94.2 bp −$94	doesn't fit	doesn't fit	doesn't fit

SKY on 17 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	−0.0456%	4h	0.06901	−0.155%	$184K	$126K	—	as long as short
Bybit SKYUSDT	−0.0101%	4h	0.06907	−0.072%	$7.3M	$3.3M	25x	as long as short
Injective SKY/USDC PERP	+0.0033%	1h	0.07172	+3.762%	$392	$303K	12x	as long as short
Lighter SKY	+0.0096%	1h	0.06912	−0.004%	$180K	$181K	10x	as long as short
Nado SKY-PERP	+0.0100%	1h	0.06911	−0.011%	$69K	$28K	5x	as long as short
Hyperliquid SKY	+0.0100%	1h	0.06931	+0.279%	$2.9M	$917K	3x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.06916	+0.058%	$42K	$43K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.06916	+0.054%	$15.8M	$11.0M	75x	as long as short
OKX SKY-USDT-SWAPlong	+0.0100%	4h	0.06912	long leg	$824K	$1.2M	20x
Gate SKY_USDTshort	+0.0100%	4h	0.06907	−0.072%	$593K	$283K	50x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SKY_USDT	+0.0100%	4h	0.06917	+0.072%	$1.0M	$287K	100x	as long as short
KuCoin SKYUSDTM	+0.0100%	4h	0.06915	+0.043%	$412K	$294K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.06917	+0.072%	$2.9M	$1.6M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.06908	−0.058%	—	$2.4M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.06913	+0.014%	$28K	$666K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.06910	−0.022%	$1K	$3K	10x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0523% / S −0.0248%	1h	0.06912	+0.004%	$82K	—	50x	as long as short