Funding arb · Price arb /

SKY

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.011%

Price spread now: Aster against Injective−1.687%97s7-day average — · you buy dearer than you sell

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

Long on Injective Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.117%+$12 on $10k

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. Aster is 1.687% cheaper against Injective than usual: you would sell low and buy high (spread −1.687% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$169 on $10k: about 3 months of funding at the current rate (+$2 a day). The two prices were read 97 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective SKY/USDC PERP	0.07172	0.0033	pay 0.0004% / 1h	57m 43s	$392	$303K	12x
Short	Aster SKYUSDT	0.07051	0.0100	get 0.0050% / 4h	3h 57m	$42K	$43K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Injective. 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 InjectivebpFee AsterbpOrdersPrice spread, now −1.687%Rate

Funding earned: $14
Price spread: −1.687% → 0.000%: −$168.71
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Aster: 4 bp × 2 orders: −$8
Net: −$162.73
Costs to cover: 0.080%
Break-even: 88.4 days

Slippage unknown: Injective: no order-book sample; Aster: 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 Injective no order-book sample	—	—	—	—	—
Sell Aster no order-book sample	—	—	—	—	—

Injective and Aster: 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
Bybit SKYUSDT	−0.1692%	4h	0.07038	−1.868%	$7.6M	$3.3M	25x	as long as short
Variational Omni SKY	−0.0643%	4h	0.07042	−1.812%	$193K	$104K	—	as long as short
Injective SKY/USDC PERPlong	+0.0033%	1h	0.07172	long leg	$392	$303K	12x
Nado SKY-PERP	+0.0053%	1h	0.07045	−1.764%	$70K	$25K	5x	as long as short
Lighter SKY	+0.0096%	1h	0.07054	−1.649%	$191K	$161K	10x	as long as short
Aster SKYUSDTshort	+0.0100%	4h	0.07051	−1.687%	$42K	$43K	20x
Binance SKYUSDT	+0.0100%	4h	0.07050	−1.697%	$16.0M	$10.2M	75x	as long as short
OKX SKY-USDT-SWAP	+0.0100%	4h	0.07045	−1.771%	$849K	$1.3M	20x	as long as short
Gate SKY_USDT	+0.0100%	4h	0.07045	−1.771%	$601K	$252K	50x	as long as short
MEXC SKY_USDT	+0.0100%	4h	0.07049	−1.715%	$1.1M	$280K	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	0.07038	−1.868%	$420K	$290K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.07050	−1.701%	$2.9M	$1.6M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.07047	−1.743%	—	$2.4M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.07056	−1.617%	$22K	$680K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.07049	−1.709%	$1K	$2K	10x	as long as short
BloFin SKY-USDT	+0.0134%	4h	0.07053	−1.659%	$587K	$30K	75x	as long as short
Hyperliquid SKY	+0.0151%	1h	0.07060	−1.557%	$3.0M	$890K	3x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0526% / S −0.0248%	1h	0.07047	−1.737%	$83K	—	50x	as long as short