Funding arb · Price arb /

SKY

all SKY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: KuCoin against Lighter+0.031%7-day average −0.108% · you sell dearer than you buy

Net, funding: paid 7d − costs−$845as in the Funding arb table

Net, price: spread back to 7d avg − costs−$832as in the Price arb table

costs, in and out, $10k−$8468.464% of the position

Long on Lighter Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 4 days (all we have)−0.673%−$67 · spread now +0.031%, 7d avg −0.108%

Together, before fees−0.664%+ Points / potential airdropLighter: Season 3 · farm board−$66 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.139% dearer against Lighter than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of −0.108%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter SKY	0.06866	0.0096	pay 0.0012% / 1h	37m 17s	$179K	$177K	10x
Short	KuCoin SKYUSDTM	0.06868	0.0100	get 0.0050% / 4h	37m 17s	$404K	$291K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.031%Rate

Funding earned: $0.84
Price spread: +0.031% → −0.108%: $13.88
Slippage, 4 orders: −$834.37
Fee Lighter: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$831.65
Costs to cover: 8.464%
Break-even: 6937.4 days

Slippage from Lighter: live order book, 3 min ago; KuCoin: live order book, 45 min ago.

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, 3 min ago	11.20 bp	11.4 bp −$11	107.8 bp −$1,078	doesn't fit	doesn't fit
Sell KuCoin live order book, 45 min ago	25.18 bp	580.9 bp −$581	789.8 bp −$7,898	doesn't fit	doesn't fit

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	−0.0185%	4h	0.06865	−0.017%	$183K	$113K	—	as long as short
Injective SKY/USDC PERP	+0.0033%	1h	0.06893	+0.395%	$376	$303K	12x	as long as short
BloFin SKY-USDT	+0.0064%	4h	0.06873	+0.103%	$583K	$29K	75x	as long as short
Lighter SKYlong	+0.0096%	1h	0.06866	long leg	$179K	$177K	10x
Nado SKY-PERP	+0.0100%	1h	0.06865	−0.017%	$73K	$30K	5x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.06869	+0.049%	$41K	$42K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.06866	+0.002%	$15.7M	$10.9M	75x	as long as short
Bybit SKYUSDT	+0.0100%	4h	0.06856	−0.144%	$7.2M	$3.2M	25x	as long as short
OKX SKY-USDT-SWAP	+0.0100%	4h	0.06860	−0.086%	$821K	$1.2M	20x	as long as short
Gate SKY_USDT	+0.0100%	4h	0.06868	+0.031%	$596K	$271K	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	0.06866	+0.001%	$1.0M	$264K	100x	as long as short
KuCoin SKYUSDTMshort	+0.0100%	4h	0.06868	+0.031%	$404K	$291K	50x
Bitget SKYUSDT	+0.0100%	4h	0.06866	+0.001%	$2.8M	$1.5M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.06862	−0.057%	—	$2.4M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.06874	+0.118%	$27K	$661K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.06870	+0.057%	$1K	$3K	10x	as long as short
Hyperliquid SKY	+0.0337%	1h	0.06877	+0.156%	$2.8M	$920K	3x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0522% / S −0.0248%	1h	0.06866	0.000%	$81K	—	50x	as long as short