Funding arb · Price arb /

SKY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.004%

Price spread now: Nado against Orderly−0.030%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Nado

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 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Nado is 0.030% cheaper against Orderly than usual: you would sell low and buy high, −$3 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	Orderly PERP_SKY_USDC_mythos	0.06885	0.0100	pay 0.0050% / 4h	3h 45m	$1K	$3K	10x
Short	Nado SKY-PERP	0.06883	0.0100	get 0.0012% / 1h	45m 11s	$76K	$31K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Orderly. 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 OrderlybpFee NadobpOrdersPrice spread, now −0.030%Rate

Funding earned: $0
Price spread: −0.030% → 0.000%: −$2.98
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$15.98
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Nado: 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 Orderly no order-book sample	—	—	—	—	—
Sell Nado no order-book sample	—	—	—	—	—

Orderly and 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
Injective SKY/USDC PERP	−0.0269%	1h	0.06893	+0.112%	$376	$303K	12x	as long as short
Variational Omni SKY	−0.0092%	4h	0.06879	−0.087%	$184K	$113K	—	as long as short
Lighter SKY	+0.0096%	1h	0.06885	−0.003%	$180K	$139K	10x	as long as short
Nado SKY-PERPshort	+0.0100%	1h	0.06883	−0.030%	$76K	$31K	5x
Hyperliquid SKY	+0.0100%	1h	0.06895	+0.138%	$2.8M	$914K	3x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.06885	−0.001%	$42K	$42K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.06885	+0.001%	$15.7M	$11.0M	75x	as long as short
Bybit SKYUSDT	+0.0100%	4h	0.06878	−0.106%	$7.2M	$3.2M	25x	as long as short
OKX SKY-USDT-SWAP	+0.0100%	4h	0.06875	−0.150%	$813K	$1.1M	20x	as long as short
Gate SKY_USDT	+0.0100%	4h	0.06880	−0.077%	$595K	$269K	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	0.06883	−0.033%	$1.0M	$264K	100x	as long as short
KuCoin SKYUSDTM	+0.0100%	4h	0.06874	−0.164%	$404K	$291K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.06883	−0.033%	$2.8M	$1.5M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.06881	−0.062%	—	$2.4M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.06889	+0.054%	$27K	$652K	50x	as long as short
Orderly PERP_SKY_USDC_mythoslong	+0.0100%	4h	0.06885	long leg	$1K	$3K	10x
BloFin SKY-USDT	+0.0121%	4h	0.06890	+0.068%	$583K	$29K	75x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0522% / S −0.0248%	1h	0.06881	−0.061%	$82K	—	50x	as long as short