Funding arb · Price arb /

SKY

all SKY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against Aster−0.040%7-day average — · you buy dearer than you sell

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

Long on Aster Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.067%+$7 on $10k

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · Lighter: Season 3 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.040% cheaper against Aster than usual: you would sell low and buy high, −$4 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster SKYUSDT	0.07073	0.0100	pay 0.0050% / 4h	32m 40s	$43K	$43K	20x
Short	Lighter SKY	0.07070	0.0096	get 0.0012% / 1h	32m 40s	$185K	$155K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Aster. 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 AsterbpFee LighterbpOrdersPrice spread, now −0.040%Rate

Funding earned: −$0.84
Price spread: −0.040% → 0.000%: −$3.97
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$12.81
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Aster: no order-book sample; Lighter: live order book, 27 min ago. 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 Aster no order-book sample	—	—	—	—	—
Sell Lighter live order book, 27 min ago	12.74 bp	100.5 bp −$100	187.9 bp −$1,879	doesn't fit	doesn't fit

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	−0.0648%	4h	0.07059	−0.202%	$194K	$104K	—	as long as short
Bybit SKYUSDT	−0.0245%	4h	0.07059	−0.198%	$7.6M	$3.3M	25x	as long as short
BloFin SKY-USDT	+0.0085%	4h	0.07066	−0.099%	$591K	$29K	75x	as long as short
Lighter SKYshort	+0.0096%	1h	0.07070	−0.040%	$185K	$155K	10x
Nado SKY-PERP	+0.0100%	1h	0.07071	−0.036%	$70K	$25K	5x	as long as short
Aster SKYUSDTlong	+0.0100%	4h	0.07073	long leg	$43K	$43K	20x
Binance SKYUSDT	+0.0100%	4h	0.07070	−0.044%	$16.0M	$10.3M	75x	as long as short
OKX SKY-USDT-SWAP	+0.0100%	4h	0.07063	−0.142%	$849K	$1.3M	20x	as long as short
Gate SKY_USDT	+0.0100%	4h	0.07059	−0.198%	$602K	$255K	50x	as long as short
MEXC SKY_USDT	+0.0100%	4h	0.07070	−0.043%	$1.1M	$286K	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	0.07072	−0.014%	$423K	$290K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.07072	−0.014%	$2.9M	$1.7M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.07065	−0.113%	—	$2.4M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.07075	+0.028%	$20K	$679K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.07072	−0.016%	$1K	$2K	10x	as long as short
Injective SKY/USDC PERP	+0.0158%	1h	0.07172	+1.400%	$392	$303K	12x	as long as short
Hyperliquid SKY	+0.0219%	1h	0.07082	+0.129%	$3.0M	$902K	3x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0527% / S −0.0248%	1h	0.07071	−0.031%	$84K	—	50x	as long as short