Funding arb · Price arb /

SKY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Aster against Lighter+0.024%7-day average — · you sell dearer than you buy

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

Long on Lighter Short on Aster

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 airdropLighter: Season 3 · Aster: Stage 5 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.024% dearer against Lighter than usual: you sell high and buy low, +$2 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	Lighter SKY	0.07216	0.0096	pay 0.0012% / 1h	54m 29s	$189K	$163K	10x
Short	Aster SKYUSDT	0.07218	0.0100	get 0.0050% / 4h	1h 54m	$43K	$36K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Lighter. 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 LighterbpFee AsterbpOrdersPrice spread, now +0.024%Rate

Funding earned: $0.84
Price spread: +0.024% → 0.000%: $2.38
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$4.78
Costs to cover: 0.080%
Break-even: 46.9 days

Slippage unknown: Lighter: live order book, 19 min ago; Aster: 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 Lighter live order book, 19 min ago	11.94 bp	13.0 bp −$13	106.0 bp −$1,060	doesn't fit	doesn't fit
Sell Aster no order-book sample	—	—	—	—	—

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	−0.0512%	4h	0.07205	−0.153%	$207K	$94K	—	as long as short
Bybit SKYUSDT	−0.0060%	4h	0.07206	−0.144%	$7.9M	$3.4M	25x	as long as short
Injective SKY/USDC PERP	+0.0014%	1h	0.07197	−0.269%	$393	$260K	12x	as long as short
BloFin SKY-USDT	+0.0045%	4h	0.07213	−0.047%	$608K	$611K	75x	as long as short
Lighter SKYlong	+0.0096%	1h	0.07216	long leg	$189K	$163K	10x
Nado SKY-PERP	+0.0100%	1h	0.07211	−0.068%	$71K	$25K	5x	as long as short
Aster SKYUSDTshort	+0.0100%	4h	0.07218	+0.024%	$43K	$36K	20x
Binance SKYUSDT	+0.0100%	4h	0.07214	−0.038%	$16.6M	$9.6M	75x	as long as short
OKX SKY-USDT-SWAP	+0.0100%	4h	0.07204	−0.172%	$871K	$1.3M	20x	as long as short
Gate SKY_USDT	+0.0100%	4h	0.07207	−0.130%	$618K	$252K	50x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SKY_USDT	+0.0100%	4h	0.07215	−0.019%	$1.1M	$278K	100x	as long as short
KuCoin SKYUSDTM	+0.0100%	4h	0.07208	−0.116%	$443K	$279K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.07212	−0.061%	$3.0M	$2.0M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.07209	−0.103%	—	$2.4M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.07202	−0.200%	$20K	$688K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.07217	+0.001%	$700	$2K	10x	as long as short
Hyperliquid SKY	+0.0381%	1h	0.07224	+0.107%	$3.0M	$904K	3x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0534% / S −0.0248%	1h	0.07206	−0.139%	$85K	—	50x	as long as short