Funding arb · Price arb /

SKY

all SKY markets

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: Orderly against Lighter+0.014%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 Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter SKY	0.07166	0.0096	pay 0.0012% / 1h	37m 22s	$188K	$163K	10x
Short	Orderly PERP_SKY_USDC_mythos	0.07167	0.0100	get 0.0050% / 4h	1h 37m	$695	$2K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.014%Rate

Funding earned: $0.84
Price spread: +0.014% → 0.000%: $1.4
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$3.76
Costs to cover: 0.060%
Break-even: 38.4 days

Slippage unknown: Lighter: live order book, 36 min ago; Orderly: 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, 36 min ago	11.94 bp	13.0 bp −$13	106.0 bp −$1,060	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	−0.0491%	4h	0.07179	+0.181%	$197K	$104K	—	as long as short
Bybit SKYUSDT	−0.0191%	4h	0.07152	−0.198%	$7.8M	$3.3M	25x	as long as short
Injective SKY/USDC PERP	+0.0014%	1h	0.07172	+0.081%	$392	$303K	12x	as long as short
Nado SKY-PERP	+0.0036%	1h	0.07164	−0.038%	$71K	$25K	5x	as long as short
Lighter SKYlong	+0.0096%	1h	0.07166	long leg	$188K	$163K	10x
Aster SKYUSDT	+0.0100%	4h	0.07169	+0.043%	$43K	$36K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.07167	+0.005%	$16.5M	$9.6M	75x	as long as short
OKX SKY-USDT-SWAP	+0.0100%	4h	0.07156	−0.142%	$857K	$1.3M	20x	as long as short
Gate SKY_USDT	+0.0100%	4h	0.07163	−0.045%	$615K	$252K	50x	as long as short
MEXC SKY_USDT	+0.0100%	4h	0.07167	+0.011%	$1.1M	$281K	100x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SKYUSDTM	+0.0100%	4h	0.07166	−0.003%	$440K	$282K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.07167	+0.011%	$3.0M	$2.0M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.07160	−0.087%	—	$2.4M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.07176	+0.137%	$20K	$686K	50x	as long as short
Orderly PERP_SKY_USDC_mythosshort	+0.0100%	4h	0.07167	+0.014%	$695	$2K	10x
BloFin SKY-USDT	+0.0114%	4h	0.07189	+0.318%	$606K	$32K	75x	as long as short
Hyperliquid SKY	+0.0334%	1h	0.07173	+0.095%	$3.0M	$906K	3x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0531% / S −0.0248%	1h	0.07162	−0.054%	$85K	—	50x	as long as short