Funding arb · Price arb /

SKY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0341%/8h= +37.4% APRpaid last 24h +0.006%

Price spread now: Nado against Bybit+0.085%7-day average — · you sell dearer than you buy

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

Long on Bybit 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 +$10 a day on $10k at the current rate, and Nado is 0.085% dearer against Bybit than usual: you sell high and buy low: +$8 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	Bybit SKYUSDT	0.07091	−0.0282	get 0.0141% / 4h	1h 06m	$7.7M	$3.4M	25x
Short	Nado SKY-PERP	0.07097	0.0059	get 0.0007% / 1h	6m 25s	$70K	$26K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Bybit. 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 BybitbpFee NadobpOrdersPrice spread, now +0.085%Rate

Funding earned: $71.7
Price spread: +0.085% → 0.000%: $8.46
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $62.16
Costs to cover: 0.180%
Break-even: 0.9 days

Slippage unknown: Bybit: live order book, 7 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 Bybit live order book, 7 min ago	2.12 bp	25.7 bp −$26	276.5 bp −$2,765	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
Variational Omni SKY	−0.0635%	4h	0.07071	−0.281%	$194K	$104K	—	as long as short
Bybit SKYUSDTlong	−0.0282%	4h	0.07091	long leg	$7.7M	$3.4M	25x
Injective SKY/USDC PERP	+0.0014%	1h	0.07172	+1.142%	$392	$303K	12x	as long as short
Nado SKY-PERPshort	+0.0059%	1h	0.07097	+0.085%	$70K	$26K	5x
Lighter SKY	+0.0096%	1h	0.07089	−0.028%	$186K	$163K	10x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.07095	+0.059%	$43K	$36K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.07103	+0.171%	$16.2M	$10.3M	75x	as long as short
OKX SKY-USDT-SWAP	+0.0100%	4h	0.07098	+0.099%	$854K	$1.4M	20x	as long as short
Gate SKY_USDT	+0.0100%	4h	0.07084	−0.099%	$605K	$261K	50x	as long as short
MEXC SKY_USDT	+0.0100%	4h	0.07102	+0.155%	$1.1M	$289K	100x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SKYUSDTM	+0.0100%	4h	0.07090	−0.014%	$429K	$288K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.07100	+0.127%	$2.9M	$2.1M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.07098	+0.099%	—	$2.4M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.07080	−0.155%	$20K	$684K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.07099	+0.116%	$1K	$2K	10x	as long as short
BloFin SKY-USDT	+0.0147%	4h	0.07076	−0.212%	$591K	$29K	75x	as long as short
Hyperliquid SKY	+0.0305%	1h	0.07112	+0.298%	$3.0M	$928K	3x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0528% / S −0.0248%	1h	0.07100	+0.128%	$84K	—	50x	as long as short