Funding arb · Price arb /

SKY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Aster against Lighter+0.133%7-day average — · you sell dearer than you buy

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

Long on Lighter Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.054%−$5 on $10k

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

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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.133% dearer against Lighter than usual: you sell high and buy low, +$13 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	Lighter SKY	0.06763	0.0096	pay 0.0012% / 1h	58m 55s	$178K	$106K	10x
Short	Aster SKYUSDT	0.06772	0.0100	get 0.0050% / 4h	2h 58m	$41K	$45K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Lighter. 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 LighterbpFee AsterbpOrdersPrice spread, now +0.133%Rate

Funding earned: $0.84
Price spread: +0.133% → 0.000%: $13.35
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: $6.19
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Lighter: live order book, 16 min ago; 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 Lighter live order book, 16 min ago	9.93 bp	12.2 bp −$12	106.7 bp −$1,067	doesn't fit	doesn't fit
Sell Aster no order-book sample	—	—	—	—	—

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
Bybit SKYUSDT	−0.0125%	4h	0.06762	−0.015%	$7.0M	$3.3M	25x	as long as short
Variational Omni SKY	−0.0101%	4h	0.06759	−0.055%	$181K	$94K	—	as long as short
Injective SKY/USDC PERP	+0.0033%	1h	0.06893	+1.922%	$376	$303K	12x	as long as short
Lighter SKYlong	+0.0096%	1h	0.06763	long leg	$178K	$106K	10x
Nado SKY-PERP	+0.0100%	1h	0.06764	+0.022%	$68K	$35K	5x	as long as short
Hyperliquid SKY	+0.0100%	1h	0.06776	+0.191%	$2.8M	$930K	3x	as long as short
Aster SKYUSDTshort	+0.0100%	4h	0.06772	+0.133%	$41K	$45K	20x
Binance SKYUSDT	+0.0100%	4h	0.06767	+0.059%	$15.1M	$11.7M	75x	as long as short
OKX SKY-USDT-SWAP	+0.0100%	4h	0.06765	+0.030%	$790K	$1.2M	20x	as long as short
Gate SKY_USDT	+0.0100%	4h	0.06756	−0.104%	$573K	$284K	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	0.06770	+0.104%	$997K	$258K	100x	as long as short
KuCoin SKYUSDTM	+0.0100%	4h	0.06769	+0.089%	$401K	$281K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.06765	+0.030%	$2.8M	$1.5M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.06762	−0.015%	—	$2.5M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.06774	+0.163%	$34K	$651K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.06764	+0.022%	$1K	$5K	10x	as long as short
BloFin SKY-USDT	+0.0123%	4h	0.06775	+0.177%	$570K	$25K	75x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0517% / S −0.0249%	1h	0.06774	+0.166%	$80K	—	50x	as long as short