Funding arb · Price arb /

SKY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.004%

Price spread now: Nado against Orderly−0.036%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Nado is 0.036% cheaper against Orderly than usual: you would sell low and buy high, −$4 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_SKY_USDC_mythos	0.07195	0.0100	pay 0.0050% / 4h	2h 29m	$698	$2K	10x
Short	Nado SKY-PERP	0.07192	0.0100	get 0.0012% / 1h	29m 58s	$71K	$26K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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

Position, each leg$Hold fordaysFee OrderlybpFee NadobpOrdersPrice spread, now −0.036%Rate

Funding earned: $0
Price spread: −0.036% → 0.000%: −$3.61
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$16.61
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Nado: 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 Orderly no order-book sample	—	—	—	—	—
Sell Nado no order-book sample	—	—	—	—	—

Orderly and 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	−0.0607%	4h	0.07188	−0.096%	$207K	$94K	—	as long as short
Bybit SKYUSDT	−0.0272%	4h	0.07190	−0.071%	$7.9M	$3.3M	25x	as long as short
Injective SKY/USDC PERP	+0.0033%	1h	0.07199	+0.054%	$393	$222K	12x	as long as short
BloFin SKY-USDT	+0.0093%	4h	0.07193	−0.029%	$609K	$609K	75x	as long as short
Lighter SKY	+0.0096%	1h	0.07195	−0.007%	$188K	$163K	10x	as long as short
Nado SKY-PERPshort	+0.0100%	1h	0.07192	−0.036%	$71K	$26K	5x
Aster SKYUSDT	+0.0100%	4h	0.07197	+0.026%	$43K	$36K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.07195	−0.001%	$16.6M	$9.5M	75x	as long as short
OKX SKY-USDT-SWAP	+0.0100%	4h	0.07190	−0.071%	$870K	$1.3M	20x	as long as short
Gate SKY_USDT	+0.0100%	4h	0.07183	−0.168%	$617K	$254K	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_USDT	+0.0100%	4h	0.07194	−0.015%	$1.1M	$280K	100x	as long as short
KuCoin SKYUSDTM	+0.0100%	4h	0.07184	−0.154%	$442K	$287K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.07195	−0.001%	$3.0M	$2.0M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.07189	−0.085%	—	$2.4M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.07195	−0.001%	$20K	$685K	50x	as long as short
Orderly PERP_SKY_USDC_mythoslong	+0.0100%	4h	0.07195	long leg	$698	$2K	10x
Hyperliquid SKY	+0.0353%	1h	0.07205	+0.132%	$3.0M	$905K	3x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0534% / S −0.0248%	1h	0.07192	−0.049%	$85K	—	50x	as long as short