Funding arb · Price arb /

SKY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0035%/8h= +3.8% APRpaid last 24h +0.005%

Price spread now: Nado against BloFin+0.058%7-day average — · you sell dearer than you buy

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

Long on BloFin 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

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Nado is 0.058% dearer against BloFin than usual: you sell high and buy low: +$6 more if the spread 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	BloFin SKY-USDT	0.06883	0.0065	pay 0.0032% / 4h	2h 50m	$583K	$29K	75x
Short	Nado SKY-PERP	0.06887	0.0100	get 0.0012% / 1h	50m 15s	$75K	$32K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against BloFin. 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 BloFinbpFee NadobpOrdersPrice spread, now +0.058%Rate

Funding earned: $7.36
Price spread: +0.058% → 0.000%: $5.81
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$5.83
Costs to cover: 0.190%
Break-even: 12.5 days

Slippage unknown: BloFin: live order book, 41 min ago; 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 BloFin live order book, 41 min ago	0.73 bp	9.5 bp −$9	28.8 bp −$288	doesn't fit	doesn't fit
Sell Nado no order-book sample	—	—	—	—	—

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	+0.0033%	1h	0.06893	+0.145%	$376	$303K	12x	as long as short
BloFin SKY-USDTlong	+0.0065%	4h	0.06883	long leg	$583K	$29K	75x
Lighter SKY	+0.0096%	1h	0.06884	+0.015%	$179K	$118K	10x	as long as short
Variational Omni SKY	+0.0098%	4h	0.06879	−0.054%	$183K	$113K	—	as long as short
Nado SKY-PERPshort	+0.0100%	1h	0.06887	+0.058%	$75K	$32K	5x
Hyperliquid SKY	+0.0100%	1h	0.06896	+0.186%	$2.8M	$908K	3x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.06887	+0.060%	$42K	$42K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.06883	+0.006%	$15.7M	$11.0M	75x	as long as short
Bybit SKYUSDT	+0.0100%	4h	0.06884	+0.015%	$7.2M	$3.2M	25x	as long as short
OKX SKY-USDT-SWAP	+0.0100%	4h	0.06879	−0.058%	$818K	$1.1M	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate SKY_USDT	+0.0100%	4h	0.06878	−0.073%	$585K	$286K	50x	as long as short
MEXC SKY_USDT	+0.0100%	4h	0.06884	+0.015%	$1.0M	$261K	100x	as long as short
KuCoin SKYUSDTM	+0.0100%	4h	0.06888	+0.073%	$404K	$292K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.06886	+0.044%	$2.8M	$1.5M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.06887	+0.058%	—	$2.4M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.06880	−0.044%	$27K	$649K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.06887	+0.061%	$1K	$3K	10x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0523% / S −0.0248%	1h	0.06884	+0.012%	$82K	—	50x	as long as short