Funding you earn now, next payment 01:00 UTC−0.0037%/8h= −4.0% APRpaid last 24h +0.001%
Price spread now: Bybit against Injective−1.562%68s7-day average −0.046% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.115%+$11 on $10k
+Price spread, last 3 days (all we have)+1.391%+$139 · spread now −1.562%, 7d avg −0.046%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 1.516% cheaper against Injective than usual: you would sell low and buy high (−$152 if the spread goes back to its 7-day average of −0.046%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.115%, so the current rate has only just turned against you. The two prices were read 68 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 | 56m 14s | $392 | $303K | 12x |
| Short | Bybit SKYUSDT | 0.07060 | −0.0003 | pay 0.0002% / 4h | 3h 56m | $7.6M | $3.3M | 25x |
Injective SKY/USDC PERP
Bybit SKYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Injective. 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
- −$7.68
- Price spread: −1.562% → −0.046%
- −$151.56
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$170.26
- Costs to cover
- 0.110%
- Break-even
- never at this rate
Slippage unknown: Injective: no order-book sample; Bybit: live order book, 2 min ago. 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 Bybit live order book, 2 min ago | 1.42 bp | 23.3 bp −$23 | 233.7 bp −$2,337 | doesn't fit | doesn't fit |
Injective: 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 | −0.0641% | 4h | 0.07052 | −1.673% | $193K | $104K | — | as long as short |
| Bybit SKYUSDTshort | −0.0003% | 4h | 0.07060 | −1.562% | $7.6M | $3.3M | 25x | |
| Nado SKY-PERP | +0.0026% | 1h | 0.07058 | −1.583% | $70K | $25K | 5x | as long as short |
| Injective SKY/USDC PERPlong | +0.0033% | 1h | 0.07172 | long leg | $392 | $303K | 12x | |
| Lighter SKY | +0.0096% | 1h | 0.07075 | −1.350% | $191K | $161K | 10x | as long as short |
| Aster SKYUSDT | +0.0100% | 4h | 0.07062 | −1.530% | $42K | $43K | 20x | as long as short |
| Binance SKYUSDT | +0.0100% | 4h | 0.07070 | −1.418% | $16.0M | $10.2M | 75x | as long as short |
| OKX SKY-USDT-SWAP | +0.0100% | 4h | 0.07066 | −1.478% | $852K | $1.3M | 20x | as long as short |
| Gate SKY_USDT | +0.0100% | 4h | 0.07051 | −1.687% | $600K | $252K | 50x | as long as short |
| MEXC SKY_USDT | +0.0100% | 4h | 0.07062 | −1.534% | $1.1M | $280K | 100x | as long as short |
Variational Omni SKY
Nado SKY-PERP
Lighter SKY
Aster SKYUSDT
Binance SKYUSDT
OKX SKY-USDT-SWAP
Gate SKY_USDT
MEXC SKY_USDTShow all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin SKYUSDTM | +0.0100% | 4h | 0.07048 | −1.729% | $420K | $290K | 50x | as long as short |
| Bitget SKYUSDT | +0.0100% | 4h | 0.07071 | −1.408% | $2.9M | $1.6M | 75x | as long as short |
| BingX SKY-USDT | +0.0100% | 4h | 0.07060 | −1.562% | — | $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 | 0.07063 | −1.521% | $1K | $2K | 10x | as long as short |
| BloFin SKY-USDT | +0.0138% | 4h | 0.07049 | −1.715% | $586K | $29K | 75x | as long as short |
| Hyperliquid SKY | +0.0183% | 1h | 0.07070 | −1.421% | $3.0M | $890K | 3x | as long as short |
| GMX SKY/USD [ETH-USDC] | L +0.0527% / S −0.0248% | 1h | 0.07059 | −1.577% | $84K | — | 50x | as long as short |
KuCoin SKYUSDTM
Bitget SKYUSDT
BingX SKY-USDT
ApeX Omni SKYUSDT
Orderly PERP_SKY_USDC_mythos
BloFin SKY-USDT
Hyperliquid SKY
GMX SKY/USD [ETH-USDC]