Funding arb · Price arb /

SKY

all SKY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.200%

Price spread now: Gate against Hyperliquid−0.203%7-day average −0.313% · 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−$196as in the Price arb table

costs, in and out, $10k−$2072.070% of the position

Long on Hyperliquid Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.580%−$58 on $10k

Price spread, last 4 days (all we have)−0.215%−$22 · spread now −0.203%, 7d avg −0.313%

Together, before fees−0.795%+ Points / potential airdropHyperliquid: Season 2 · farm board−$79 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 0.110% dearer against Hyperliquid than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of −0.313%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid SKY	0.06997	0.0100	pay 0.0013% / 1h	51m 47s	$2.9M	$908K	3x
Short	Gate SKY_USDT	0.06983	0.0100	get 0.0050% / 4h	2h 51m	$586K	$263K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Hyperliquid. 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 HyperliquidbpFee GatebpOrdersPrice spread, now −0.203%Rate

Funding earned: $0
Price spread: −0.203% → −0.313%: $11
Slippage, 4 orders: −$182.96
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$195.96
Costs to cover: 2.070%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 9 min ago; Gate: live order book, 14 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 Hyperliquid live order book, 9 min ago	5.27 bp	14.4 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 14 min ago	4.27 bp	94.2 bp −$94	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
Variational Omni SKY	−0.0556%	4h	0.06957	−0.568%	$200K	$118K	—	as long as short
Bybit SKYUSDT	−0.0105%	4h	0.06986	−0.160%	$7.4M	$3.4M	25x	as long as short
Injective SKY/USDC PERP	+0.0033%	1h	0.07172	+2.498%	$392	$303K	12x	as long as short
Lighter SKY	+0.0096%	1h	0.06985	−0.177%	$183K	$181K	10x	as long as short
Nado SKY-PERP	+0.0100%	1h	0.06987	−0.146%	$70K	$28K	5x	as long as short
Hyperliquid SKYlong	+0.0100%	1h	0.06997	long leg	$2.9M	$908K	3x
Aster SKYUSDT	+0.0100%	4h	0.06989	−0.118%	$42K	$44K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.06986	−0.155%	$16.0M	$11.0M	75x	as long as short
OKX SKY-USDT-SWAP	+0.0100%	4h	0.06983	−0.203%	$838K	$1.3M	20x	as long as short
Gate SKY_USDTshort	+0.0100%	4h	0.06983	−0.203%	$586K	$263K	50x

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SKY_USDT	+0.0100%	4h	0.06988	−0.131%	$1.0M	$266K	100x	as long as short
KuCoin SKYUSDTM	+0.0100%	4h	0.06990	−0.103%	$413K	$294K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.06984	−0.189%	$2.9M	$1.6M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.06984	−0.189%	—	$2.4M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.06993	−0.060%	$24K	$679K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.06991	−0.093%	$938	$3K	10x	as long as short
BloFin SKY-USDT	+0.0117%	4h	0.06982	−0.217%	$595K	$29K	75x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0526% / S −0.0248%	1h	0.06988	−0.137%	$83K	—	50x	as long as short