Funding you earn now, next payment 01:00 UTC+0.0022%/8h= +2.4% APRnext payment +$0.03 per $10,000 · paid last 24h +0.227%
Price spread now: Hyperliquid against Lighter+0.101%7-day average +0.163% · you sell dearer than you buy
Net, funding: paid 7d − costs−$138as in the Funding arb table
Net, price: spread back to 7d avg − costs−$185as in the Price arb table
costs, in and out, $10k−$1791.792% of the position
Funding, last 7 days+0.413%+$41 on $10k
+Price spread, last 4 days (all we have)−0.078%−$8 · spread now +0.101%, 7d avg +0.163%
=Together, before fees+0.334%+ Points / potential airdropLighter: Season 3 · Hyperliquid: Season 2 · farm board+$33 on $10k · with fees, hour by hour
Funding pays, the price is against you. Hyperliquid is 0.062% cheaper against Lighter than usual: you would sell low and buy high (spread +0.101% now, against its 7-day average of +0.163%). If the spread goes back, that is −$6 on $10k: about 9.4 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.413% in total) that is about 25 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter SKY | 0.07054 | 0.0096 | pay 0.0012% / 1h | 57m 59s | $191K | $161K | 10x |
| Short | Hyperliquid SKY | 0.07061 | 0.0118 | get 0.0015% / 1h | 57m 59s | $3.0M | $890K | 3x |
Lighter SKY
Hyperliquid SKYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Lighter. 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
- $4.61
- Price spread: +0.101% → +0.163%
- −$6.2
- Slippage, 4 orders
- −$170.24
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$180.83
- Costs to cover
- 1.792%
- Break-even
- 281.4 days
Slippage from Lighter: live order book, 62 min ago; Hyperliquid: live order book, 3 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, 62 min ago | 12.74 bp | 50.6 bp −$51 | 163.6 bp −$1,636 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 3 min ago | 1.70 bp | 12.1 bp −$12 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit SKYUSDT | −0.1692% | 4h | 0.07040 | −0.196% | $7.6M | $3.3M | 25x | as long as short |
| Variational Omni SKY | −0.0643% | 4h | 0.07042 | −0.167% | $193K | $104K | — | as long as short |
| Injective SKY/USDC PERP | +0.0033% | 1h | 0.07172 | +1.676% | $392 | $303K | 12x | as long as short |
| Nado SKY-PERP | +0.0053% | 1h | 0.07045 | −0.118% | $70K | $25K | 5x | as long as short |
| Lighter SKYlong | +0.0096% | 1h | 0.07054 | long leg | $191K | $161K | 10x | |
| Aster SKYUSDT | +0.0100% | 4h | 0.07051 | −0.040% | $42K | $43K | 20x | as long as short |
| Binance SKYUSDT | +0.0100% | 4h | 0.07051 | −0.040% | $16.0M | $10.2M | 75x | as long as short |
| OKX SKY-USDT-SWAP | +0.0100% | 4h | 0.07045 | −0.125% | $849K | $1.3M | 20x | as long as short |
| Gate SKY_USDT | +0.0100% | 4h | 0.07045 | −0.125% | $601K | $252K | 50x | as long as short |
| MEXC SKY_USDT | +0.0100% | 4h | 0.07050 | −0.054% | $1.1M | $280K | 100x | as long as short |
Bybit SKYUSDT
Variational Omni SKY
Injective SKY/USDC PERP
Nado SKY-PERP
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 | 0.07038 | −0.224% | $420K | $290K | 50x | as long as short |
| Bitget SKYUSDT | +0.0100% | 4h | 0.07050 | −0.054% | $2.9M | $1.6M | 75x | as long as short |
| BingX SKY-USDT | +0.0100% | 4h | 0.07047 | −0.096% | — | $2.4M | — | as long as short |
| ApeX Omni SKYUSDT | +0.0100% | 1h | 0.07056 | +0.031% | $22K | $680K | 50x | as long as short |
| Orderly PERP_SKY_USDC_mythos | +0.0100% | 4h | 0.07049 | −0.062% | $1K | $2K | 10x | as long as short |
| Hyperliquid SKYshort | +0.0118% | 1h | 0.07061 | +0.101% | $3.0M | $890K | 3x | |
| BloFin SKY-USDT | +0.0134% | 4h | 0.07053 | −0.011% | $587K | $30K | 75x | as long as short |
| GMX SKY/USD [ETH-USDC] | L +0.0526% / S −0.0248% | 1h | 0.07047 | −0.091% | $83K | — | 50x | as long as short |
KuCoin SKYUSDTM
Bitget SKYUSDT
BingX SKY-USDT
ApeX Omni SKYUSDT
Orderly PERP_SKY_USDC_mythos
BloFin SKY-USDT
GMX SKY/USD [ETH-USDC]