Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h −0.021%

Price spread now: Lighter RH against Bybit−0.069%7-day average −0.103% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$200.202% of the position

Long on Bybit Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.019%−$2 on $10k

Price spread, last 7 days−0.072%−$7 · spread now −0.069%, 7d avg −0.103%

Together, before fees−0.091%+ Points / potential airdropLighter RH: Points live · farm board−$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter RH is 0.035% dearer against Bybit than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.103%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SKHYUSDT	189.66	0	get 0.0000% / 8h	14m 56s	$15.7M	$27.0M	100x
Short	Lighter RH SKHY	189.53	0.0032	get 0.0004% / 1h	14m 56s	$1.1M	$1.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Bybit. 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 BybitbpFee Lighter RHbpOrdersPrice spread, now −0.069%Rate

Funding earned: $6.72
Price spread: −0.069% → −0.103%: $3.46
Slippage, 4 orders: −$9.18
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$10.01
Costs to cover: 0.202%
Break-even: 17.4 days

Slippage from Bybit: live order book, 4 min ago; Lighter RH: 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 Bybit live order book, 4 min ago	0.26 bp	8.9 bp −$9	14.6 bp −$146	76.9 bp −$7,692	doesn't fit
Sell Lighter RH live order book, 3 min ago	1.58 bp	2.1 bp −$2	10.6 bp −$106	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
edgeX SKHYUSDC	−0.0648%	4h	189.61	−0.025%	$572K	$291K	10x	as long as short
Nado SKHY-PERP	−0.0043%	1h	189.63	−0.018%	$28K	$2K	10x	as long as short
QFEX SKHY-USD	0.0000%	1h	189.58	−0.042%	$1.2M	$5.3M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	189.63	−0.017%	$252K	$903K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	189.57	−0.045%	$55K	$4K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	189.59	−0.037%	$212.0M	$377.9M	50x	as long as short
Bybit SKHYUSDTlong	0.0000%	8h	189.66	long leg	$15.7M	$27.0M	100x
OKX SKHY-USDT-SWAP	0.0000%	8h	189.60	−0.032%	$47.2M	$61.5M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	189.59	−0.037%	$26.1M	$17.8M	75x	as long as short
Bitget SKHYUSDT	0.0000%	8h	189.63	−0.016%	$25.4M	$25.7M	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SKHY	0.0000%	8h	189.62	−0.022%	$1.6M	$2.5M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	189.64	−0.010%	$22K	$208K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	189.83	+0.090%	$695	$7.2M	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	0.0000%	1h	189.60	−0.032%	$46K	$259K	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	189.64	−0.011%	$155K	$401K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	189.55	−0.058%	$1.5M	$1.1M	10x	as long as short
KuCoin SKHYUSDTM	+0.0012%	8h	189.51	−0.079%	$1.1M	$282K	20x	as long as short
Lighter SKHY	+0.0032%	1h	189.54	−0.063%	$1.0M	$691K	10x	as long as short
Lighter RH SKHYshort	+0.0032%	1h	189.53	−0.069%	$1.1M	$1.4M	10x
Arcus SKHY-USD	+0.0040%	1h	189.61	−0.026%	$56K	$155K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	189.59	−0.037%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	189.57	−0.047%	$202K	$241K	20x	as long as short
tradeXYZ xyz:SKHY	+0.0050%	1h	189.53	−0.069%	$164.5M	$65.2M	10x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	189.55	−0.058%	$170K	$952K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	189.57	−0.047%	$42K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	189.65	−0.005%	$558K	$1.2M	10x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	189.61	−0.026%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	189.55	−0.058%	$2.2M	$415K	50x	as long as short
Coinbase International SKHY-PERP-INTX	+0.0128%	1h	189.72	+0.032%	$169K	$687K	10x	as long as short
Phoenix SKHY	+0.0380%	1h	189.87	+0.111%	$214K	$128K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0951%	1h	189.67	+0.006%	$50K	$24K	20x	as long as short