Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h −0.201%
Price spread now: Lighter against Hyperliquid−0.122%7-day average −0.162% · you buy dearer than you sell
Net, funding: paid 7d − costs−$121as in the Funding arb table
Net, price: spread back to 7d avg − costs−$76as in the Price arb table
costs, in and out, $10k−$800.799% of the position
Funding, last 7 days−0.415%−$42 on $10k
+Price spread, last 4 days (all we have)+0.067%+$7 · spread now −0.122%, 7d avg −0.162%
=Together, before fees−0.348%+ Points / potential airdropHyperliquid: Season 2 · Lighter: Season 3 · farm board−$35 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: Lighter is 0.040% dearer against Hyperliquid than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.162%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid SKY | 0.06964 | 0.0100 | pay 0.0013% / 1h | 24m 05s | $2.9M | $911K | 3x |
| Short | Lighter SKY | 0.06956 | 0.0096 | get 0.0012% / 1h | 24m 05s | $181K | $181K | 10x |
Hyperliquid SKY
Lighter SKYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Hyperliquid. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$0.84
- Price spread: −0.122% → −0.162%
- $4
- Slippage, 4 orders
- −$70.86
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$76.69
- Costs to cover
- 0.799%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 7 min ago; Lighter: live order book, 26 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 Hyperliquid live order book, 7 min ago | 2.74 bp | 18.9 bp −$19 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 26 min ago | 14.30 bp | 31.0 bp −$31 | 116.5 bp −$1,165 | doesn't fit | doesn't fit |
SKY on 17 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 | −0.0423% | 4h | 0.06962 | −0.035% | $186K | $126K | — | as long as short |
| Injective SKY/USDC PERP | +0.0033% | 1h | 0.07172 | +2.982% | $392 | $303K | 12x | as long as short |
| Bybit SKYUSDT | +0.0058% | 4h | 0.06950 | −0.205% | $7.4M | $3.3M | 25x | as long as short |
| Lighter SKYshort | +0.0096% | 1h | 0.06956 | −0.122% | $181K | $181K | 10x | |
| Nado SKY-PERP | +0.0100% | 1h | 0.06956 | −0.123% | $69K | $28K | 5x | as long as short |
| Hyperliquid SKYlong | +0.0100% | 1h | 0.06964 | long leg | $2.9M | $911K | 3x | |
| Aster SKYUSDT | +0.0100% | 4h | 0.06959 | −0.078% | $42K | $44K | 20x | as long as short |
| Binance SKYUSDT | +0.0100% | 4h | 0.06957 | −0.105% | $15.9M | $11.0M | 75x | as long as short |
| OKX SKY-USDT-SWAP | +0.0100% | 4h | 0.06952 | −0.177% | $830K | $1.2M | 20x | as long as short |
| Gate SKY_USDT | +0.0100% | 4h | 0.06957 | −0.105% | $598K | $283K | 50x | as long as short |
Variational Omni SKY
Injective SKY/USDC PERP
Bybit SKYUSDT
Nado SKY-PERP
Aster SKYUSDT
Binance SKYUSDT
OKX SKY-USDT-SWAP
Gate SKY_USDTShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC SKY_USDT | +0.0100% | 4h | 0.06956 | −0.119% | $1.1M | $278K | 100x | as long as short |
| KuCoin SKYUSDTM | +0.0100% | 4h | 0.06960 | −0.062% | $415K | $295K | 50x | as long as short |
| Bitget SKYUSDT | +0.0100% | 4h | 0.06960 | −0.062% | $2.9M | $1.6M | 75x | as long as short |
| BingX SKY-USDT | +0.0100% | 4h | 0.06954 | −0.148% | — | $2.4M | — | as long as short |
| ApeX Omni SKYUSDT | +0.0100% | 1h | 0.06926 | −0.550% | $28K | $678K | 50x | as long as short |
| Orderly PERP_SKY_USDC_mythos | +0.0100% | 4h | 0.06959 | −0.079% | $1K | $3K | 10x | as long as short |
| GMX SKY/USD [ETH-USDC] | L +0.0524% / S −0.0248% | 1h | 0.06953 | −0.159% | $82K | — | 50x | as long as short |
MEXC SKY_USDT
KuCoin SKYUSDTM
Bitget SKYUSDT
BingX SKY-USDT
ApeX Omni SKYUSDT
Orderly PERP_SKY_USDC_mythos
GMX SKY/USD [ETH-USDC]