Funding arb · Price arb /

SKY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0022%/8h= −2.4% APRpaid last 24h −0.007%

Price spread now: BloFin against Nado−0.074%7-day average — · you buy dearer than you sell

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

Long on Nado Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropNado: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and BloFin is 0.074% cheaper against Nado than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado SKY-PERP	0.06792	0.0100	pay 0.0012% / 1h	13m 59s	$67K	$35K	5x
Short	BloFin SKY-USDT	0.06787	0.0078	get 0.0039% / 4h	3h 13m	$573K	$28K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Nado. 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 NadobpFee BloFinbpOrdersPrice spread, now −0.074%Rate

Funding earned: −$4.52
Price spread: −0.074% → 0.000%: −$7.36
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$30.88
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Nado: no order-book sample; BloFin: live order book, 62 min ago. 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 Nado no order-book sample	—	—	—	—	—
Sell BloFin live order book, 62 min ago	0.74 bp	15.6 bp −$16	42.1 bp −$421	doesn't fit	doesn't fit

Nado: 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	−0.0006%	4h	0.06792	−0.007%	$181K	$96K	—	as long as short
Injective SKY/USDC PERP	+0.0033%	1h	0.06893	+1.487%	$376	$303K	12x	as long as short
BloFin SKY-USDTshort	+0.0078%	4h	0.06787	−0.074%	$573K	$28K	75x
Lighter SKY	+0.0096%	1h	0.06792	+0.007%	$179K	$106K	10x	as long as short
Nado SKY-PERPlong	+0.0100%	1h	0.06792	long leg	$67K	$35K	5x
Hyperliquid SKY	+0.0100%	1h	0.06804	+0.183%	$2.8M	$929K	3x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.06794	+0.029%	$41K	$45K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.06792	0.000%	$15.2M	$11.6M	75x	as long as short
Bybit SKYUSDT	+0.0100%	4h	0.06787	−0.074%	$7.1M	$3.3M	25x	as long as short
OKX SKY-USDT-SWAP	+0.0100%	4h	0.06782	−0.147%	$793K	$1.2M	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate SKY_USDT	+0.0100%	4h	0.06791	−0.015%	$581K	$296K	50x	as long as short
MEXC SKY_USDT	+0.0100%	4h	0.06785	−0.103%	$999K	$269K	100x	as long as short
KuCoin SKYUSDTM	+0.0100%	4h	0.06779	−0.191%	$402K	$291K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.06787	−0.074%	$2.8M	$1.5M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.06790	−0.029%	—	$2.5M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.06792	0.000%	$34K	$653K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.06794	+0.035%	$1K	$5K	10x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0518% / S −0.0249%	1h	0.06793	+0.021%	$81K	—	50x	as long as short