Funding arb · Price arb /

SKY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0015%/8h= −1.7% APRpaid last 24h −0.003%

Price spread now: Nado against Bitget−0.050%7-day average — · you buy dearer than you sell

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

Long on Bitget Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropNado: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Nado is 0.050% cheaper against Bitget than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SKYUSDT	0.06991	0.0100	pay 0.0050% / 4h	3h 41m	$2.9M	$1.6M	75x
Short	Nado SKY-PERP	0.06987	0.0085	get 0.0011% / 1h	41m 39s	$67K	$26K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Bitget. 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 BitgetbpFee NadobpOrdersPrice spread, now −0.050%Rate

Funding earned: −$3.17
Price spread: −0.050% → 0.000%: −$5.01
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$27.18
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 1 min ago; Nado: no order-book sample. 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 Bitget live order book, 1 min ago	5.01 bp	21.6 bp −$22	54.1 bp −$541	doesn't fit	doesn't fit
Sell Nado no order-book sample	—	—	—	—	—

Nado: 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
Bybit SKYUSDT	−0.0778%	4h	0.06975	−0.229%	$7.5M	$3.5M	25x	as long as short
Variational Omni SKY	−0.0614%	4h	0.06989	−0.030%	$185K	$111K	—	as long as short
Injective SKY/USDC PERP	+0.0033%	1h	0.07172	+2.589%	$392	$303K	12x	as long as short
BloFin SKY-USDT	+0.0083%	4h	0.07002	+0.157%	$593K	$29K	75x	as long as short
Nado SKY-PERPshort	+0.0085%	1h	0.06987	−0.050%	$67K	$26K	5x
Lighter SKY	+0.0096%	1h	0.06990	−0.013%	$188K	$170K	10x	as long as short
Hyperliquid SKY	+0.0100%	1h	0.07001	+0.139%	$2.9M	$902K	3x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.06997	+0.080%	$42K	$44K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.06987	−0.064%	$16.1M	$10.9M	75x	as long as short
OKX SKY-USDT-SWAP	+0.0100%	4h	0.06980	−0.157%	$838K	$1.3M	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate SKY_USDT	+0.0100%	4h	0.06989	−0.029%	$593K	$261K	50x	as long as short
MEXC SKY_USDT	+0.0100%	4h	0.06990	−0.014%	$1.0M	$282K	100x	as long as short
KuCoin SKYUSDTM	+0.0100%	4h	0.06997	+0.086%	$413K	$291K	50x	as long as short
Bitget SKYUSDTlong	+0.0100%	4h	0.06991	long leg	$2.9M	$1.6M	75x
BingX SKY-USDT	+0.0100%	4h	0.06988	−0.043%	—	$2.4M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.07010	+0.272%	$24K	$680K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.06996	+0.066%	$1K	$2K	10x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0523% / S −0.0248%	1h	0.06997	+0.080%	$83K	—	50x	as long as short