Funding arb · Price arb /

SKY

all SKY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0017%/8h= −1.9% APRpaid last 24h −0.005%

Price spread now: BloFin against Lighter−0.154%7-day average +0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$630.628% of the position

Long on Lighter Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.013%−$1 on $10k

Price spread, last 4 days (all we have)+0.171%+$17 · spread now −0.154%, 7d avg +0.001%

Together, before fees+0.158%+ Points / potential airdropLighter: Season 3 · farm board+$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and BloFin is 0.155% cheaper against Lighter than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of +0.001%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter SKY	0.06803	0.0096	pay 0.0012% / 1h	12m 29s	$179K	$107K	10x
Short	BloFin SKY-USDT	0.06793	0.0079	get 0.0039% / 4h	12m 29s	$576K	$28K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Lighter. 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 LighterbpFee BloFinbpOrdersPrice spread, now −0.154%Rate

Funding earned: −$3.6
Price spread: −0.154% → +0.001%: −$15.51
Slippage, 4 orders: −$50.78
Fee Lighter: 0 bp × 2 orders: $0
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$81.88
Costs to cover: 0.628%
Break-even: never at this rate

Slippage from Lighter: live order book, 7 min ago; BloFin: live order book, 4 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 Lighter live order book, 7 min ago	11.01 bp	14.7 bp −$15	107.2 bp −$1,072	doesn't fit	doesn't fit
Sell BloFin live order book, 4 min ago	0.74 bp	15.6 bp −$16	42.1 bp −$421	doesn't fit	doesn't fit

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
Injective SKY/USDC PERP	+0.0033%	1h	0.06893	+1.315%	$376	$303K	12x	as long as short
BloFin SKY-USDTshort	+0.0079%	4h	0.06793	−0.154%	$576K	$28K	75x
Lighter SKYlong	+0.0096%	1h	0.06803	long leg	$179K	$107K	10x
Nado SKY-PERP	+0.0100%	1h	0.06799	−0.073%	$69K	$31K	5x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.06804	+0.009%	$42K	$44K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.06803	−0.002%	$15.4M	$11.0M	75x	as long as short
Bybit SKYUSDT	+0.0100%	4h	0.06798	−0.081%	$7.2M	$3.2M	25x	as long as short
OKX SKY-USDT-SWAP	+0.0100%	4h	0.06795	−0.125%	$796K	$1.2M	20x	as long as short
Gate SKY_USDT	+0.0100%	4h	0.06791	−0.184%	$576K	$291K	50x	as long as short
MEXC SKY_USDT	+0.0100%	4h	0.06804	+0.007%	$1.0M	$275K	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	0.06805	+0.022%	$399K	$292K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.06802	−0.022%	$2.8M	$1.4M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.06802	−0.022%	—	$2.5M	—	as long as short
Variational Omni SKY	+0.0100%	4h	0.06790	−0.192%	$181K	$98K	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.06799	−0.066%	$27K	$649K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.06801	−0.040%	$1K	$3K	10x	as long as short
Hyperliquid SKY	+0.0137%	1h	0.06813	+0.144%	$2.8M	$862K	3x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0520% / S −0.0248%	1h	0.06795	−0.119%	$81K	—	50x	as long as short