Funding arb · Price arb /

SKY

all SKY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0031%/8h= +3.4% APRpaid last 24h +0.076%

Price spread now: Nado against Variational Omni−0.087%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVariational Omni: Active · Nado: Active · farm boardneeds both histories

Funding pays, the price is against you. Nado is 0.087% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.087% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 9.5 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni SKY	0.06807	0.0069	pay 0.0035% / 4h	2h 33m	$182K	$113K	—
Short	Nado SKY-PERP	0.06801	0.0100	get 0.0012% / 1h	33m 44s	$72K	$33K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee NadobpOrdersPrice spread, now −0.087%Rate

Funding earned: $6.43
Price spread: −0.087% → 0.000%: −$8.73
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$9.3
Costs to cover: 0.070%
Break-even: 17.1 days

Slippage unknown: Variational Omni: RFQ quote, 15 min ago; Nado: 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 Variational Omni RFQ quote, 15 min ago	5.82 bp	doesn't fit	288.0 bp −$2,880	doesn't fit	doesn't fit
Sell Nado no order-book sample	—	—	—	—	—

Nado: 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
Injective SKY/USDC PERP	+0.0033%	1h	0.06893	+1.264%	$376	$303K	12x	as long as short
Variational Omni SKYlong	+0.0069%	4h	0.06807	long leg	$182K	$113K	—
BloFin SKY-USDT	+0.0094%	4h	0.06827	+0.295%	$586K	$29K	75x	as long as short
Lighter SKY	+0.0096%	1h	0.06800	−0.095%	$177K	$118K	10x	as long as short
Nado SKY-PERPshort	+0.0100%	1h	0.06801	−0.087%	$72K	$33K	5x
Hyperliquid SKY	+0.0100%	1h	0.06807	−0.005%	$2.8M	$903K	3x	as long as short
Aster SKYUSDT	+0.0100%	4h	0.06802	−0.074%	$41K	$42K	20x	as long as short
Binance SKYUSDT	+0.0100%	4h	0.06794	−0.190%	$15.5M	$11.1M	75x	as long as short
Bybit SKYUSDT	+0.0100%	4h	0.06790	−0.249%	$7.1M	$3.2M	25x	as long as short
OKX SKY-USDT-SWAP	+0.0100%	4h	0.06791	−0.234%	$799K	$1.1M	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate SKY_USDT	+0.0100%	4h	0.06801	−0.087%	$578K	$287K	50x	as long as short
MEXC SKY_USDT	+0.0100%	4h	0.06800	−0.102%	$996K	$266K	100x	as long as short
KuCoin SKYUSDTM	+0.0100%	4h	0.06807	+0.001%	$399K	$292K	50x	as long as short
Bitget SKYUSDT	+0.0100%	4h	0.06799	−0.117%	$2.8M	$1.5M	75x	as long as short
BingX SKY-USDT	+0.0100%	4h	0.06796	−0.161%	—	$2.4M	—	as long as short
ApeX Omni SKYUSDT	+0.0100%	1h	0.06810	+0.045%	$27K	$650K	50x	as long as short
Orderly PERP_SKY_USDC_mythos	+0.0100%	4h	0.06810	+0.042%	$1K	$3K	10x	as long as short
GMX SKY/USD [ETH-USDC]	L +0.0521% / S −0.0248%	1h	0.06801	−0.093%	$81K	—	50x	as long as short