Funding arb · Price arb /

SKY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0588%/8h= −64.4% APRpaid last 24h −0.064%

Price spread now: Variational Omni against Nado+0.453%7-day average — · you sell dearer than you buy

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

Long on Nado Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropNado: Active · Variational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.453% dearer against Nado than usual: you sell high and buy low (spread +0.453% now, against zero (this spread has no 7-day history yet)): +$45 on $10k if it goes back. Holding the pair costs −$18 a day in funding at the current rate, which eats that in about 2.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado SKY-PERP	0.06931	0.0100	pay 0.0012% / 1h	41m 37s	$69K	$28K	5x
Short	Variational Omni SKY	0.06962	−0.0488	pay 0.0244% / 4h	2h 41m	$201K	$118K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Nado. 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 NadobpFee Variational OmnibpOrdersPrice spread, now +0.453%Rate

Funding earned: −$123.53
Price spread: +0.453% → 0.000%: $45.34
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$85.19
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Nado: no order-book sample; Variational Omni: RFQ quote, 27 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 Nado no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 27 min ago	4.26 bp	doesn't fit	119.4 bp −$1,194	doesn't fit	doesn't fit

Nado: 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 SKYshort	−0.0488%	4h	0.06962	+0.453%	$201K	$118K	—
Bybit SKYUSDT	−0.0109%	4h	0.06934	+0.051%	$7.4M	$3.4M	25x	as long as short
Injective SKY/USDC PERP	+0.0033%	1h	0.07172	+3.485%	$392	$303K	12x	as long as short
BloFin SKY-USDT	+0.0080%	4h	0.06993	+0.902%	$596K	$29K	75x	as long as short
Lighter SKY	+0.0096%	1h	0.06936	+0.084%	$181K	$181K	10x	as long as short
Nado SKY-PERPlong	+0.0100%	1h	0.06931	long leg	$69K	$28K	5x
Aster SKYUSDT	+0.0100%	4h	0.06943	+0.177%	$42K	$44K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.06943	+0.177%	$15.9M	$11.1M	75x	as long as short
OKX SKY-USDT-SWAP	+0.0100%	4h	0.06935	+0.065%	$832K	$1.3M	20x	as long as short
Gate SKY_USDT	+0.0100%	4h	0.06933	+0.036%	$590K	$270K	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	0.06941	+0.152%	$1.0M	$270K	100x	as long as short
KuCoin SKYUSDTM	+0.0100%	4h	0.06940	+0.137%	$410K	$294K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.06938	+0.108%	$2.9M	$1.6M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.06939	+0.123%	—	$2.4M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.06970	+0.570%	$24K	$678K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.06935	+0.072%	$930	$3K	10x	as long as short
Hyperliquid SKY	+0.0255%	1h	0.06955	+0.349%	$2.9M	$914K	3x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0524% / S −0.0248%	1h	0.06934	+0.048%	$82K	—	50x	as long as short