Settings8H · net · $10k
Funding arb · Price arb /

SKY

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SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.171%
Price spread now: Hyperliquid against Orderly+0.058%55s7-day average · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
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 daysno price history on both exchanges yet
Together, before fees+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.058% dearer against Orderly than usual: you sell high and buy low, +$6 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOrderly PERP_SKY_USDC_mythos0.068840.0100pay 0.0050% / 4h2h 00m$1K$3K10x
ShortHyperliquid SKY0.068880.0100get 0.0013% / 1h0m 32s$2.8M$887K3x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid against Orderly. 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

Funding earned
$0
Price spread: +0.058% → 0.000%
$5.81
Slippage, 4 orders
no order book: not counted
Fee Orderly: 3 bp × 2 orders
−$6
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
−$9.19
Costs to cover
0.150%
Break-even
never at this rate
Slippage unknown: Orderly: no order-book sample; Hyperliquid: live order book, 1 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Orderly no order-book sample
Sell Hyperliquid live order book, 1 min ago4.06 bpdoesn't fitdoesn't fitdoesn't fitdoesn't fit
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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective SKY/USDC PERP+0.0033%1h0.06893+0.134%$376$303K12xas long as short
BloFin SKY-USDT+0.0051%4h0.06885+0.017%$580K$29K75xas long as short
Lighter SKY+0.0096%1h0.06880−0.055%$180K$119K10xas long as short
Variational Omni SKY+0.0100%4h0.06875−0.125%$183K$98Kas long as short
Nado SKY-PERP+0.0100%1h0.06879−0.073%$72K$31K5xas long as short
Hyperliquid SKYshort+0.0100%1h0.06888+0.058%$2.8M$887K3x
Aster SKYUSDT+0.0100%4h0.06880−0.053%$42K$42K20xas long as short
Binance SKYUSDT+0.0100%4h0.06880−0.050%$15.6M$11.2M75xas long as short
Bybit SKYUSDT+0.0100%4h0.06878−0.084%$7.2M$3.0M25xas long as short
OKX SKY-USDT-SWAP+0.0100%4h0.06871−0.186%$807K$1.1M20xas long as short
Show all 18 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Gate SKY_USDT+0.0100%4h0.06875−0.128%$589K$297K50xas long as short
MEXC SKY_USDT+0.0100%4h0.06881−0.041%$1.0M$269K100xas long as short
KuCoin SKYUSDTM+0.0100%4h0.06879−0.070%$403K$292K50xas long as short
Bitget SKYUSDT+0.0100%4h0.06887+0.046%$2.8M$1.4M75xas long as short
BingX SKY-USDT+0.0100%4h0.06878−0.084%$2.4Mas long as short
ApeX Omni SKYUSDT+0.0100%1h0.06884+0.003%$26K$646K50xas long as short
Orderly PERP_SKY_USDC_mythoslong+0.0100%4h0.06884long leg$1K$3K10x
GMX SKY/USD [ETH-USDC]L +0.0523% / S −0.0248%1h0.06882−0.033%$82K50xas long as short