Funding arb · Price arb /

SKY

all SKY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against MEXC−0.007%7-day average +0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$84as in the Price arb table

costs, in and out, $10k−$810.811% of the position

Long on MEXC Short on Lighter

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)+0.700%+$70 · spread now −0.007%, 7d avg +0.026%

Together, before fees+0.691%+ Points / potential airdropLighter: Season 3 · farm board+$69 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: Lighter is 0.033% cheaper against MEXC than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SKY_USDT	0.06878	0.0100	pay 0.0050% / 4h	45m 39s	$1.0M	$262K	100x
Short	Lighter SKY	0.06878	0.0096	get 0.0012% / 1h	45m 39s	$179K	$177K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against MEXC. 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 MEXCbpFee LighterbpOrdersPrice spread, now −0.007%Rate

Funding earned: −$0.84
Price spread: −0.007% → +0.026%: −$3.33
Slippage, 4 orders: −$77.12
Fee MEXC: 2 bp × 2 orders: −$4
Fee Lighter: 0 bp × 2 orders: $0
Net: −$85.29
Costs to cover: 0.811%
Break-even: never at this rate

Slippage from MEXC: live order book, just now; Lighter: live order book, 59 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 MEXC live order book, just now	2.18 bp	13.1 bp −$13	25.7 bp −$257	254.0 bp −$25.4K	doesn't fit
Sell Lighter live order book, 59 min ago	10.90 bp	38.8 bp −$39	129.7 bp −$1,297	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	−0.0201%	4h	0.06868	−0.149%	$183K	$113K	—	as long as short
Injective SKY/USDC PERP	+0.0033%	1h	0.06893	+0.218%	$376	$303K	12x	as long as short
BloFin SKY-USDT	+0.0073%	4h	0.06872	−0.087%	$584K	$29K	75x	as long as short
Bybit SKYUSDT	+0.0077%	4h	0.06874	−0.058%	$7.2M	$3.2M	25x	as long as short
Lighter SKYshort	+0.0096%	1h	0.06878	−0.007%	$179K	$177K	10x
Nado SKY-PERP	+0.0100%	1h	0.06870	−0.113%	$73K	$30K	5x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.06879	+0.021%	$42K	$42K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.06879	+0.014%	$15.7M	$10.9M	75x	as long as short
OKX SKY-USDT-SWAP	+0.0100%	4h	0.06873	−0.073%	$823K	$1.2M	20x	as long as short
Gate SKY_USDT	+0.0100%	4h	0.06876	−0.029%	$597K	$271K	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_USDTlong	+0.0100%	4h	0.06878	long leg	$1.0M	$262K	100x
KuCoin SKYUSDTM	+0.0100%	4h	0.06880	+0.029%	$405K	$291K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.06878	0.000%	$2.8M	$1.5M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.06874	−0.058%	—	$2.4M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.06871	−0.102%	$27K	$661K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.06874	−0.063%	$1K	$3K	10x	as long as short
Hyperliquid SKY	+0.0227%	1h	0.06887	+0.132%	$2.8M	$929K	3x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0523% / S −0.0248%	1h	0.06870	−0.116%	$81K	—	50x	as long as short