Funding you earn now, next payment 05:00 UTC−0.0369%/8h= −40.4% APRpaid last 24h +0.015%
Price spread now: Injective against Bybit+0.554%48s7-day average +0.205% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.098%−$10 on $10k
+Price spread, last 4 days (all we have)−0.629%−$63 · spread now +0.554%, 7d avg +0.205%
=The price spread pays, funding is against you. Injective is 0.349% dearer against Bybit than usual: you sell high and buy low (spread +0.554% now, against its 7-day average of +0.205%): +$35 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 3.2 days. At the pace of the last 7 days (−0.098% in total) that is about 25 days. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.098% in total (about -5.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit SKYUSDT | 0.06855 | 0.0100 | pay 0.0050% / 4h | 3h 12m | $7.2M | $3.2M | 25x |
| Short | Injective SKY/USDC PERP | 0.06893 | −0.0269 | pay 0.0034% / 1h | 12m 36s | $376 | $303K | 12x |
Bybit SKYUSDT
Injective SKY/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Bybit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$77.56
- Price spread: +0.554% → +0.205%
- $34.95
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$53.63
- Costs to cover
- 0.110%
- Break-even
- from the start
Slippage unknown: Bybit: live order book, 5 min ago; Injective: 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 Bybit live order book, 5 min ago | 2.18 bp | 31.8 bp −$32 | 290.4 bp −$2,904 | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective SKY/USDC PERPshort | −0.0269% | 1h | 0.06893 | +0.554% | $376 | $303K | 12x | |
| Variational Omni SKY | −0.0020% | 4h | 0.06865 | +0.150% | $183K | $113K | — | as long as short |
| Lighter SKY | +0.0096% | 1h | 0.06861 | +0.088% | $179K | $139K | 10x | as long as short |
| Nado SKY-PERP | +0.0100% | 1h | 0.06865 | +0.153% | $76K | $32K | 5x | as long as short |
| Aster SKYUSDT | +0.0100% | 4h | 0.06860 | +0.074% | $42K | $42K | 20x | as long as short |
| Binance SKYUSDT | +0.0100% | 4h | 0.06860 | +0.074% | $15.7M | $11.0M | 75x | as long as short |
| Bybit SKYUSDTlong | +0.0100% | 4h | 0.06855 | long leg | $7.2M | $3.2M | 25x | |
| OKX SKY-USDT-SWAP | +0.0100% | 4h | 0.06861 | +0.088% | $819K | $1.1M | 20x | as long as short |
| Gate SKY_USDT | +0.0100% | 4h | 0.06861 | +0.088% | $594K | $271K | 50x | as long as short |
| MEXC SKY_USDT | +0.0100% | 4h | 0.06861 | +0.088% | $1.0M | $266K | 100x | as long as short |
Variational Omni SKY
Lighter SKY
Nado SKY-PERP
Aster SKYUSDT
Binance SKYUSDT
OKX SKY-USDT-SWAP
Gate SKY_USDT
MEXC SKY_USDTShow all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin SKYUSDTM | +0.0100% | 4h | 0.06858 | +0.044% | $403K | $292K | 50x | as long as short |
| Bitget SKYUSDT | +0.0100% | 4h | 0.06862 | +0.102% | $2.8M | $1.5M | 75x | as long as short |
| BingX SKY-USDT | +0.0100% | 4h | 0.06861 | +0.088% | — | $2.4M | — | as long as short |
| ApeX Omni SKYUSDT | +0.0100% | 1h | 0.06874 | +0.277% | $27K | $650K | 50x | as long as short |
| Orderly PERP_SKY_USDC_mythos | +0.0100% | 4h | 0.06866 | +0.155% | $1K | $3K | 10x | as long as short |
| BloFin SKY-USDT | +0.0124% | 4h | 0.06865 | +0.146% | $582K | $29K | 75x | as long as short |
| Hyperliquid SKY | +0.0260% | 1h | 0.06870 | +0.219% | $2.8M | $908K | 3x | as long as short |
| GMX SKY/USD [ETH-USDC] | L +0.0523% / S −0.0248% | 1h | 0.06864 | +0.134% | $81K | — | 50x | as long as short |
KuCoin SKYUSDTM
Bitget SKYUSDT
BingX SKY-USDT
ApeX Omni SKYUSDT
Orderly PERP_SKY_USDC_mythos
BloFin SKY-USDT
Hyperliquid SKY
GMX SKY/USD [ETH-USDC]