Funding arb · Price arb /

SKY

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Lighter against Aster−0.004%7-day average — · you buy dearer than you sell

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

Long on Aster Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.067%+$7 on $10k

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · Lighter: Season 3 · farm boardneeds both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster SKYUSDT	0.07051	0.0100	pay 0.0050% / 4h	24m 26s	$42K	$43K	20x
Short	Lighter SKY	0.07051	0.0096	get 0.0012% / 1h	24m 26s	$185K	$155K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Aster. 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 AsterbpFee LighterbpOrdersPrice spread, now −0.004%Rate

Funding earned: −$0.84
Price spread: −0.004% → 0.000%: −$0.43
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$9.27
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Aster: no order-book sample; Lighter: live order book, 36 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 Aster no order-book sample	—	—	—	—	—
Sell Lighter live order book, 36 min ago	12.74 bp	100.5 bp −$100	187.9 bp −$1,879	doesn't fit	doesn't fit

Aster: 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	−0.0681%	4h	0.07038	−0.189%	$194K	$104K	—	as long as short
Bybit SKYUSDT	−0.0270%	4h	0.07036	−0.213%	$7.6M	$3.3M	25x	as long as short
Nado SKY-PERP	+0.0070%	1h	0.07051	+0.004%	$70K	$25K	5x	as long as short
Lighter SKYshort	+0.0096%	1h	0.07051	−0.004%	$185K	$155K	10x
Aster SKYUSDTlong	+0.0100%	4h	0.07051	long leg	$42K	$43K	20x
Binance SKYUSDT	+0.0100%	4h	0.07050	−0.014%	$16.0M	$10.2M	75x	as long as short
OKX SKY-USDT-SWAP	+0.0100%	4h	0.07041	−0.142%	$847K	$1.3M	20x	as long as short
Gate SKY_USDT	+0.0100%	4h	0.07038	−0.184%	$600K	$256K	50x	as long as short
MEXC SKY_USDT	+0.0100%	4h	0.07054	+0.043%	$1.1M	$286K	100x	as long as short
KuCoin SKYUSDTM	+0.0100%	4h	0.07050	−0.014%	$421K	$291K	50x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SKYUSDT	+0.0100%	4h	0.07050	−0.014%	$2.9M	$1.7M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.07043	−0.113%	—	$2.4M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.07062	+0.156%	$19K	$678K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.07055	+0.057%	$1K	$2K	10x	as long as short
BloFin SKY-USDT	+0.0101%	4h	0.07053	+0.028%	$590K	$29K	75x	as long as short
Injective SKY/USDC PERP	+0.0158%	1h	0.07172	+1.716%	$392	$303K	12x	as long as short
Hyperliquid SKY	+0.0210%	1h	0.07058	+0.098%	$3.0M	$890K	3x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0527% / S −0.0248%	1h	0.07052	+0.016%	$84K	—	50x	as long as short