Funding you earn now, next payment 04:00 UTC−0.0270%/8h= −29.6% APRnext payment −$0.34 per $10,000 · paid last 24h −0.190%
Price spread now: Lighter against Hyperliquid−0.196%7-day average −0.164% · you buy dearer than you sell
Net, funding: paid 7d − costs−$106as in the Funding arb table
Net, price: spread back to 7d avg − costs−$67as in the Price arb table
costs, in and out, $10k−$640.640% of the position
Funding, last 7 days−0.420%−$42 on $10k
+Price spread, last 4 days (all we have)+0.182%+$18 · spread now −0.196%, 7d avg −0.164%
=Together, before fees−0.238%+ Points / potential airdropHyperliquid: Season 2 · Lighter: Season 3 · farm board−$24 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Lighter is 0.032% cheaper against Hyperliquid than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.164%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid SKY | 0.06839 | 0.0366 | pay 0.0046% / 1h | 5m 00s | $2.8M | $911K | 3x |
| Short | Lighter SKY | 0.06826 | 0.0096 | get 0.0012% / 1h | 5m 00s | $178K | $177K | 10x |
Hyperliquid SKY
Lighter SKYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Hyperliquid. 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
- −$56.72
- Price spread: −0.196% → −0.164%
- −$3.17
- Slippage, 4 orders
- −$55.01
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$123.89
- Costs to cover
- 0.640%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 6 min ago; Lighter: live order book, 35 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, 6 min ago | 4.30 bp | 15.1 bp −$15 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 35 min ago | 11.20 bp | 17.4 bp −$17 | 118.4 bp −$1,184 | 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 | −0.0181% | 4h | 0.06820 | −0.288% | $182K | $113K | — | as long as short |
| Injective SKY/USDC PERP | +0.0033% | 1h | 0.06893 | +0.782% | $376 | $303K | 12x | as long as short |
| Nado SKY-PERP | +0.0073% | 1h | 0.06825 | −0.212% | $75K | $31K | 5x | as long as short |
| Lighter SKYshort | +0.0096% | 1h | 0.06826 | −0.196% | $178K | $177K | 10x | |
| Bybit SKYUSDT | +0.0097% | 4h | 0.06819 | −0.300% | $7.1M | $3.2M | 25x | as long as short |
| Aster SKYUSDT | +0.0100% | 4h | 0.06829 | −0.159% | $41K | $42K | 20x | as long as short |
| Binance SKYUSDT | +0.0100% | 4h | 0.06828 | −0.169% | $15.6M | $11.0M | 75x | as long as short |
| OKX SKY-USDT-SWAP | +0.0100% | 4h | 0.06819 | −0.300% | $812K | $1.1M | 20x | as long as short |
| Gate SKY_USDT | +0.0100% | 4h | 0.06825 | −0.212% | $591K | $273K | 50x | as long as short |
| MEXC SKY_USDT | +0.0100% | 4h | 0.06828 | −0.168% | $1.0M | $266K | 100x | as long as short |
Variational Omni SKY
Injective SKY/USDC PERP
Nado SKY-PERP
Bybit SKYUSDT
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 | 0.06827 | −0.183% | $402K | $291K | 50x | as long as short |
| Bitget SKYUSDT | +0.0100% | 4h | 0.06827 | −0.183% | $2.8M | $1.5M | 75x | as long as short |
| BingX SKY-USDT | +0.0100% | 4h | 0.06825 | −0.212% | — | $2.4M | — | as long as short |
| ApeX Omni SKYUSDT | +0.0100% | 1h | 0.06833 | −0.095% | $27K | $659K | 50x | as long as short |
| Orderly PERP_SKY_USDC_mythos | +0.0100% | 4h | 0.06829 | −0.159% | $1K | $3K | 10x | as long as short |
| BloFin SKY-USDT | +0.0120% | 4h | 0.06830 | −0.139% | $583K | $29K | 75x | as long as short |
| Hyperliquid SKYlong | +0.0366% | 1h | 0.06839 | long leg | $2.8M | $911K | 3x | |
| GMX SKY/USD [ETH-USDC] | L +0.0520% / S −0.0248% | 1h | 0.06826 | −0.196% | $81K | — | 50x | as long as short |
KuCoin SKYUSDTM
Bitget SKYUSDT
BingX SKY-USDT
ApeX Omni SKYUSDT
Orderly PERP_SKY_USDC_mythos
BloFin SKY-USDT
GMX SKY/USD [ETH-USDC]