Funding arb · Price arb /

SKY

all SKY markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Binance against Lighter+0.054%7-day average −0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$181as in the Funding arb table

Net, price: spread back to 7d avg − costs−$175as in the Price arb table

costs, in and out, $10k−$1821.818% of the position

Long on Lighter Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 4 days (all we have)−0.064%−$6 · spread now +0.054%, 7d avg −0.011%

Together, before fees−0.055%+ Points / potential airdropLighter: Season 3 · farm board−$6 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: Binance is 0.065% dearer against Lighter than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter SKY	0.07110	0.0096	pay 0.0012% / 1h	57m 22s	$186K	$155K	10x
Short	Binance SKYUSDT	0.07114	0.0100	get 0.0050% / 4h	57m 22s	$16.2M	$10.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.054%Rate

Funding earned: $0.84
Price spread: +0.054% → −0.011%: $6.51
Slippage, 4 orders: −$171.75
Fee Lighter: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$174.4
Costs to cover: 1.818%
Break-even: 1460.4 days

Slippage from Lighter: live order book, 3 min ago; Binance: live order book, 13 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 Lighter live order book, 3 min ago	12.74 bp	50.6 bp −$51	163.6 bp −$1,636	doesn't fit	doesn't fit
Sell Binance live order book, 13 min ago	0.71 bp	16.1 bp −$16	62.3 bp −$623	301.6 bp −$30.2K	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	−0.0617%	4h	0.07088	−0.317%	$195K	$104K	—	as long as short
Bybit SKYUSDT	−0.0218%	4h	0.07099	−0.156%	$7.7M	$3.4M	25x	as long as short
Lighter SKYlong	+0.0096%	1h	0.07110	long leg	$186K	$155K	10x
Nado SKY-PERP	+0.0100%	1h	0.07116	+0.079%	$70K	$26K	5x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.07115	+0.070%	$43K	$36K	20x	as long as short
Binance SKYUSDTshort	+0.0100%	4h	0.07114	+0.054%	$16.2M	$10.4M	75x
OKX SKY-USDT-SWAP	+0.0100%	4h	0.07112	+0.027%	$856K	$1.3M	20x	as long as short
Gate SKY_USDT	+0.0100%	4h	0.07106	−0.058%	$606K	$254K	50x	as long as short
MEXC SKY_USDT	+0.0100%	4h	0.07115	+0.069%	$1.1M	$284K	100x	as long as short
KuCoin SKYUSDTM	+0.0100%	4h	0.07101	−0.128%	$429K	$289K	50x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SKYUSDT	+0.0100%	4h	0.07113	+0.041%	$2.9M	$2.1M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.07108	−0.030%	—	$2.4M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.07106	−0.058%	$20K	$683K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.07115	+0.066%	$1K	$2K	10x	as long as short
BloFin SKY-USDT	+0.0155%	4h	0.07113	+0.041%	$593K	$29K	75x	as long as short
Injective SKY/USDC PERP	+0.0158%	1h	0.07172	+0.871%	$392	$303K	12x	as long as short
Hyperliquid SKY	+0.0318%	1h	0.07125	+0.210%	$3.0M	$929K	3x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0528% / S −0.0248%	1h	0.07113	+0.038%	$84K	—	50x	as long as short