Funding arb · Price arb /

SKY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.007%

Price spread now: Aster against Injective−3.487%97s7-day average — · you buy dearer than you sell

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

Long on Injective Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.113%+$11 on $10k

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

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

Funding pays, the price is against you. Aster is 3.487% cheaper against Injective than usual: you would sell low and buy high (spread −3.487% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$349 on $10k: about 6 months of funding at the current rate (+$2 a day). The two prices were read 97 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective SKY/USDC PERP	0.07172	0.0033	pay 0.0004% / 1h	33m 45s	$392	$303K	12x
Short	Aster SKYUSDT	0.06922	0.0100	get 0.0050% / 4h	1h 33m	$42K	$43K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Injective. 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 InjectivebpFee AsterbpOrdersPrice spread, now −3.487%Rate

Funding earned: $14
Price spread: −3.487% → 0.000%: −$348.71
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Aster: 4 bp × 2 orders: −$8
Net: −$342.73
Costs to cover: 0.080%
Break-even: 178.4 days

Slippage unknown: Injective: no order-book sample; Aster: 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 Injective no order-book sample	—	—	—	—	—
Sell Aster no order-book sample	—	—	—	—	—

Injective and 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	−0.0390%	4h	0.06916	−3.574%	$185K	$126K	—	as long as short
Bybit SKYUSDT	−0.0064%	4h	0.06909	−3.667%	$7.3M	$3.3M	25x	as long as short
Injective SKY/USDC PERPlong	+0.0033%	1h	0.07172	long leg	$392	$303K	12x
BloFin SKY-USDT	+0.0073%	4h	0.06924	−3.458%	$586K	$29K	75x	as long as short
Lighter SKY	+0.0096%	1h	0.06917	−3.557%	$180K	$177K	10x	as long as short
Nado SKY-PERP	+0.0100%	1h	0.06915	−3.576%	$70K	$29K	5x	as long as short
Aster SKYUSDTshort	+0.0100%	4h	0.06922	−3.487%	$42K	$43K	20x
Binance SKYUSDT	+0.0100%	4h	0.06921	−3.500%	$15.8M	$10.9M	75x	as long as short
OKX SKY-USDT-SWAP	+0.0100%	4h	0.06916	−3.569%	$827K	$1.2M	20x	as long as short
Gate SKY_USDT	+0.0100%	4h	0.06919	−3.528%	$593K	$277K	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	0.06920	−3.514%	$1.0M	$271K	100x	as long as short
KuCoin SKYUSDTM	+0.0100%	4h	0.06923	−3.472%	$412K	$295K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.06917	−3.555%	$2.9M	$1.5M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.06917	−3.555%	—	$2.4M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.06923	−3.472%	$27K	$666K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.06923	−3.473%	$1K	$3K	10x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0524% / S −0.0248%	1h	0.06921	−3.500%	$82K	—	50x	as long as short
Hyperliquid SKY	+0.0927%	1h	0.06937	−3.281%	$2.9M	$914K	3x	as long as short