SKY is a governance token, which is like a digital voting share, for Sky Protocol. This system launched in 2024 as a rebrand and upgrade of the older Maker Protocol. Sky Protocol’s main value lies in giving users a simple, secure way to trade, save, and earn rewards without ever giving up control of their funds. It is built around a stablecoin called USDS, which is always worth one US dollar, but it is completely decentralized.
Order Book
Connecting…Price Chart: SKY
Largest Bid Walls
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Largest Ask Walls
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SKY Funding Rate History
Last 7 days · 168 intervalsOver the last 7 days, SKY funding has averaged 0.00234% per hour, an annualised rate of 20.5%. Longs paid shorts in 100% of intervals, meaning positioning has leaned long and holding a long position carried an ongoing cost. The rate ranged from 0.00125% to 0.01669%. Work out what this costs on your own position with the funding rate calculator.
SKY funding & market FAQ
What is the current SKY funding rate?
The current SKY funding rate on Hyperliquid is 0.00125% per hour, with a predicted next rate of 0.00125%. Over the past 7 days it has averaged 0.00234%. Hyperliquid charges funding every hour, unlike most centralised exchanges which charge every eight.
Who pays funding on SKY right now?
The rate is positive, so longs pay shorts. This happens when the perpetual trades above spot price, and it makes holding a long position an ongoing cost. See how funding rates work for the full mechanism.
What does SKY open interest tell me?
SKY currently has $9,518,293 of open interest, ranking #105 of 534 Hyperliquid markets. Open interest measures capital currently committed to open positions rather than trading activity, so rising open interest alongside rising price indicates new positions rather than a short squeeze. Read more on open interest.
What is my liquidation price on a SKY position?
At the current mark price of $0.089590, a 10x long would be liquidated around $0.080631 and a 10x short around $0.098549. Higher leverage moves those levels much closer — calculate yours exactly with the liquidation price calculator.
Can I trade SKY perpetuals without an account?
Trading requires a Hyperliquid wallet connection, but all the data on this page is public and free to view. You can also inspect any trader's SKY positions, entries and realised PnL by pasting their wallet address — no sign-up needed.
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