Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.029%

Price spread now: Lighter against BloFin−0.027%7-day average −0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$12as in the Price arb table

costs, in and out, $10k−$140.142% of the position

Long on BloFin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.236%−$24 on $10k

Price spread, last 4 days (all we have)−0.030%−$3 · spread now −0.027%, 7d avg −0.051%

Together, before fees−0.266%+ Points / potential airdropLighter: Season 3 · farm board−$27 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.024% dearer against BloFin than usual: you sell high and buy low (spread −0.027% now, against its 7-day average of −0.051%): +$2 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 18 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin SKHY-USDT	186.19	0.0120	pay 0.0120% / 8h	4m 39s	$2.2M	$426K	50x
Short	Lighter SKHY	186.14	0.0016	get 0.0002% / 1h	4m 39s	$972K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BloFin. 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 BloFinbpFee LighterbpOrdersPrice spread, now −0.027%Rate

Funding earned: −$21.84
Price spread: −0.027% → −0.051%: $2.38
Slippage, 4 orders: −$2.18
Fee BloFin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$33.64
Costs to cover: 0.142%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; Lighter: live order book, 1 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 BloFin live order book, 3 min ago	0.27 bp	6.4 bp −$6	8.4 bp −$84	17.6 bp −$1,756	doesn't fit
Sell Lighter live order book, 1 min ago	0.54 bp	0.5 bp −$1	2.4 bp −$24	doesn't fit	doesn't fit

SKHY on 31 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
Bitget SKHYUSDT	−0.1247%	8h	186.40	+0.113%	$25.5M	$33.5M	20x	as long as short
edgeX SKHYUSDC	−0.0562%	4h	186.21	+0.010%	$561K	$290K	10x	as long as short
Kraken Futures PF_SKHYUSD	−0.0266%	1h	186.44	+0.134%	$48K	$21K	20x	as long as short
tradeXYZ xyz:SKHY	−0.0125%	1h	186.15	−0.021%	$158.0M	$76.8M	10x	as long as short
Nado SKHY-PERP	−0.0114%	1h	186.27	+0.041%	$33K	$28K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0072%	1h	187.58	+0.747%	$68K	$791K	10x	as long as short
QFEX SKHY-USD	−0.0061%	1h	186.19	0.000%	$1.2M	$4.3M	10x	as long as short
KuCoin SKHYUSDTM	−0.0059%	8h	186.16	−0.016%	$1.1M	$351K	20x	as long as short
Polymarket Perps SKHY-USD	−0.0037%	1h	186.17	−0.011%	$180K	$486K	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	186.29	+0.055%	$225K	$899K	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended SKHY-USD	0.0000%	1h	186.11	−0.041%	$54K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	186.18	−0.005%	$199.7M	$453.2M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	186.17	−0.011%	$16.0M	$30.3M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	186.15	−0.021%	$44.4M	$80.1M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	186.14	−0.027%	$25.5M	$21.2M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	186.18	−0.005%	$1.6M	$1.1M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	186.23	+0.020%	$22K	$239K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	186.48	+0.156%	$683	$6.0M	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	0.0000%	1h	186.28	+0.048%	$49K	$348K	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	186.14	−0.027%	$154K	$363K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	186.19	0.000%	$1.5M	$1.1M	10x	as long as short
Popdex SKHYUSDT	+0.0008%	1h	186.18	−0.005%	$204K	$287K	20x	as long as short
Lighter SKHYshort	+0.0016%	1h	186.14	−0.027%	$972K	$1.2M	10x
Lighter RH SKHY	+0.0032%	1h	186.10	−0.048%	$1.1M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	186.16	−0.016%	$60K	$171K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	186.19	0.000%	—	$32K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	186.20	+0.005%	$41K	$12K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	186.21	+0.011%	$520K	$2.6M	10x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	186.26	+0.038%	$2K	$4K	10x	as long as short
BloFin SKHY-USDTlong	+0.0120%	8h	186.19	long leg	$2.2M	$426K	50x
Phoenix SKHY	+0.0129%	1h	186.40	+0.113%	$209K	$123K	10x	as long as short