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

SKY

all SKY markets
SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 12:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.01 per $10,000 · paid last 24h +0.109%
Price spread now: Hyperliquid against Lighter+0.182%7-day average +0.166% · 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 7 days+0.433%+$43 on $10k
Price spread, last 4 days (all we have)−0.195%−$19 · spread now +0.182%, 7d avg +0.166%
Together, before fees+0.238%+ Points / potential airdropLighter: Season 3 · Hyperliquid: Season 2 · farm board+$24 on $10k · with fees, hour by hour
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter SKY0.066930.0096pay 0.0012% / 1h50m 27s$176K$100K10x
ShortHyperliquid SKY0.067050.0100get 0.0013% / 1h50m 27s$2.8M$759K3x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid 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

Funding earned
$0.84
Price spread: +0.182% → +0.166%
$1.66
Slippage, 4 orders
no order book: not counted
Fee Lighter: 0 bp × 2 orders
$0
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
−$6.5
Costs to cover
0.090%
Break-even
61.2 days
Slippage unknown: Lighter: live order book, 46 min ago; Hyperliquid: live order book, 4 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 Lighter live order book, 46 min ago12.21 bp13.3 bp −$13128.1 bp −$1,281doesn't fitdoesn't fit
Sell Hyperliquid live order book, 4 min ago2.31 bp11.8 bp −$12doesn't fitdoesn't fitdoesn't fit

SKY on 18 exchanges

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Variational Omni SKY−0.0404%4h0.06687−0.082%$178K$82Kas long as short
Bybit SKYUSDT−0.0167%4h0.06690−0.040%$6.9M$3.2M25xas long as short
BloFin SKY-USDT+0.0091%4h0.06690−0.040%$570K$32K75xas long as short
Lighter SKYlong+0.0096%1h0.06693long leg$176K$100K10x
Nado SKY-PERP+0.0100%1h0.06691−0.033%$67K$35K5xas long as short
Hyperliquid SKYshort+0.0100%1h0.06705+0.182%$2.8M$759K3x
Aster SKYUSDT+0.0100%4h0.06695+0.037%$41K$37K20xas long as short
Binance SKYUSDT+0.0100%4h0.06698+0.082%$14.9M$10.6M75xas long as short
OKX SKY-USDT-SWAP+0.0100%4h0.06690−0.040%$784K$1.0M20xas long as short
Gate SKY_USDT+0.0100%4h0.06683−0.145%$567K$255K50xas long as short
Show all 18 exchanges
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
MEXC SKY_USDT+0.0100%4h0.06699+0.094%$1.2M$279K100xas long as short
KuCoin SKYUSDTM+0.0100%4h0.06692−0.010%$390K$43K50xas long as short
Bitget SKYUSDT+0.0100%4h0.06691−0.025%$2.7M$1.3M75xas long as short
BingX SKY-USDT+0.0100%4h0.06696+0.049%$2.5Mas long as short
ApeX Omni SKYUSDT+0.0100%1h0.06696+0.049%$34K$649K50xas long as short
Orderly PERP_SKY_USDC_mythos+0.0100%4h0.06692−0.003%$1K$4K10xas long as short
Injective SKY/USDC PERP+0.0175%1h0.06729+0.542%$367$303K12xas long as short
GMX SKY/USD [ETH-USDC]L +0.0513% / S −0.0248%1h0.06701+0.123%$79K50xas long as short