Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: Lighter against Coinbase International+0.294%7-day average −0.165% · you sell dearer than you buy

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs+$13as in the Price arb table

costs, in and out, $10k−$330.329% of the position

Long on Coinbase International Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.073%+$7 on $10k

Price spread, last 4 days (all we have)−0.360%−$36 · spread now +0.294%, 7d avg −0.165%

Together, before fees−0.287%+ Points / potential airdropLighter: Season 3 · farm board−$29 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.459% dearer against Coinbase International than usual: you sell high and buy low, +$46 on $10k if it goes back to its 7-day average of −0.165%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International SKHY-PERP-INTX	187.32	−0.0024	get 0.0003% / 1h	2m 07s	$61K	$897K	10x
Short	Lighter SKHY	187.87	−0.0024	pay 0.0003% / 1h	2m 07s	$930K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Coinbase International. 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 Coinbase InternationalbpFee LighterbpOrdersPrice spread, now +0.294%Rate

Funding earned: $0
Price spread: +0.294% → −0.165%: $45.86
Slippage, 4 orders: −$22.88
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $12.98
Costs to cover: 0.329%
Break-even: from the start

Slippage from Coinbase International: live order book, 46 min ago; Lighter: live order book, 4 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 Coinbase International live order book, 46 min ago	9.81 bp	15.1 bp −$15	20.5 bp −$205	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	0.80 bp	1.8 bp −$2	11.9 bp −$119	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	−0.1113%	8h	188.06	+0.395%	$25.2M	$31.4M	20x	as long as short
edgeX SKHYUSDC	−0.0486%	4h	188.00	+0.362%	$567K	$291K	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	−0.0335%	1h	187.95	+0.336%	$48K	$336K	10x	as long as short
Nado SKHY-PERP	−0.0152%	1h	188.11	+0.420%	$33K	$28K	10x	as long as short
tradeXYZ xyz:SKHY	−0.0127%	1h	187.98	+0.352%	$159.5M	$74.3M	10x	as long as short
Polymarket Perps SKHY-USD	−0.0102%	1h	187.83	+0.272%	$181K	$487K	10x	as long as short
Coinbase International SKHY-PERP-INTXlong	−0.0024%	1h	187.32	long leg	$61K	$897K	10x
Lighter SKHYshort	−0.0024%	1h	187.87	+0.294%	$930K	$1.1M	10x
QFEX SKHY-USD	−0.0014%	1h	187.94	+0.331%	$1.2M	$4.1M	10x	as long as short
Ondo Perps SKHY-USD.P	−0.0007%	1h	187.90	+0.310%	$518K	$2.6M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster SKHYUSDT	0.0000%	8h	187.92	+0.320%	$228K	$916K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	187.87	+0.295%	$55K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	187.98	+0.352%	$201.5M	$435.0M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	188.03	+0.379%	$15.9M	$30.4M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	187.98	+0.352%	$44.8M	$77.6M	50x	as long as short
Popdex SKHYUSDT	0.0000%	1h	187.98	+0.352%	$197K	$274K	20x	as long as short
Gate SKHY_USDT	0.0000%	8h	187.93	+0.326%	$25.3M	$20.9M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	188.08	+0.407%	$1.6M	$1.0M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	188.13	+0.432%	$22K	$224K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	188.19	+0.464%	$689	$6.2M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	187.83	+0.272%	$156K	$370K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	187.87	+0.294%	$1.5M	$1.1M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	187.86	+0.288%	$1.1M	$1.6M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	187.92	+0.320%	$58K	$164K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	188.03	+0.379%	—	$22K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	187.90	+0.310%	$41K	$13K	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	187.91	+0.315%	$1.1M	$325K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	187.94	+0.331%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	188.00	+0.363%	$2.1M	$419K	50x	as long as short
Phoenix SKHY	+0.0254%	1h	188.21	+0.475%	$211K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0260%	1h	187.95	+0.335%	$47K	$19K	20x	as long as short