Funding arb · Price arb /

SKY

all SKY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.013%

Price spread now: Orderly against Injective−1.826%7-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 Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—needs both histories

Funding pays, the price is against you. Orderly is 1.826% cheaper against Injective than usual: you would sell low and buy high (spread −1.826% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$183 on $10k: about 3 months of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective SKY/USDC PERP	0.06893	0.0033	pay 0.0004% / 1h	18m 30s	$376	$303K	12x
Short	Orderly PERP_SKY_USDC_mythos	0.06767	0.0100	get 0.0050% / 4h	2h 18m	$1K	$4K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −1.826%Rate

Funding earned: $14
Price spread: −1.826% → 0.000%: −$182.65
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$174.67
Costs to cover: 0.060%
Break-even: 94.3 days

Slippage unknown: Injective: no order-book sample; Orderly: 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 Orderly no order-book sample	—	—	—	—	—

Injective and Orderly: 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 exchanges

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	−0.0174%	4h	0.06767	−1.834%	$181K	$90K	—	as long as short
Bybit SKYUSDT	−0.0173%	4h	0.06761	−1.915%	$7.0M	$3.3M	25x	as long as short
Injective SKY/USDC PERPlong	+0.0033%	1h	0.06893	long leg	$376	$303K	12x
BloFin SKY-USDT	+0.0080%	4h	0.06780	−1.639%	$574K	$32K	75x	as long as short
Lighter SKY	+0.0096%	1h	0.06767	−1.824%	$178K	$106K	10x	as long as short
Nado SKY-PERP	+0.0100%	1h	0.06764	−1.871%	$68K	$35K	5x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.06775	−1.712%	$42K	$41K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.06770	−1.784%	$15.1M	$10.9M	75x	as long as short
OKX SKY-USDT-SWAP	+0.0100%	4h	0.06763	−1.886%	$791K	$1.1M	20x	as long as short
Gate SKY_USDT	+0.0100%	4h	0.06766	−1.842%	$573K	$284K	50x	as long as short

Show all 18 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SKY_USDT	+0.0100%	4h	0.06770	−1.784%	$996K	$262K	100x	as long as short
KuCoin SKYUSDTM	+0.0100%	4h	0.06772	−1.755%	$400K	$275K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.06770	−1.784%	$2.8M	$1.3M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.06768	−1.813%	—	$2.5M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.06778	−1.668%	$34K	$649K	50x	as long as short
Orderly PERP_SKY_USDC_mythosshort	+0.0100%	4h	0.06767	−1.826%	$1K	$4K	10x
GMX SKY/USD [ETH-USDC]	L +0.0517% / S −0.0249%	1h	0.06767	−1.826%	$80K	—	50x	as long as short
Hyperliquid SKY	+0.0669%	1h	0.06785	−1.574%	$2.8M	$812K	3x	as long as short