Funding you earn now, next payment 05:00 UTC−0.0137%/8h= −15.0% APRnext payment −$0.17 per $10,000 · paid last 24h +0.014%
Price spread now: Lighter against Deribit−0.267%7-day average −0.065% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$51as in the Price arb table
costs, in and out, $10k−$310.309% of the position
Funding, last 4 days (all we have)+0.040%+$4 on $10k
+Price spread, last 4 days (all we have)+0.237%+$24 · spread now −0.267%, 7d avg −0.065%
=Together, before fees+0.277%+ Points / potential airdropLighter: Season 3 · farm board+$28 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Lighter is 0.203% cheaper against Deribit than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of −0.065%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit SKHY_USDC-PERPETUAL | 190.82 | 0.0169 | pay 0.0021% / 1h | 45m 26s | $48K | $325K | 10x |
| Short | Lighter SKHY | 190.31 | 0.0032 | get 0.0004% / 1h | 45m 26s | $1.0M | $691K | 10x |
Deribit SKHY_USDC-PERPETUAL
Lighter SKHYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Deribit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$28.86
- Price spread: −0.267% → −0.065%
- −$20.27
- Slippage, 4 orders
- −$23.92
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$80.04
- Costs to cover
- 0.309%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 8 min ago; Lighter: live order book, 5 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 Deribit live order book, 8 min ago | 4.17 bp | 9.6 bp −$10 | 12.1 bp −$121 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 5 min ago | 0.52 bp | 1.1 bp −$1 | 8.7 bp −$87 | 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 | −0.0765% | 4h | 190.76 | −0.031% | $575K | $291K | 10x | as long as short |
| Coinbase International SKHY-PERP-INTX | −0.0104% | 1h | 192.84 | +1.059% | $45K | $861K | 10x | as long as short |
| Aster SKHYUSDT | 0.0000% | 8h | 190.60 | −0.116% | $247K | $891K | 50x | as long as short |
| Extended SKHY-USD | 0.0000% | 1h | 190.43 | −0.202% | $56K | $7K | 10x | as long as short |
| Binance SKHYUSDT | 0.0000% | 8h | 190.47 | −0.185% | $200.3M | $401.9M | 50x | as long as short |
| Bybit SKHYUSDT | 0.0000% | 8h | 190.43 | −0.204% | $15.4M | $28.4M | 100x | as long as short |
| OKX SKHY-USDT-SWAP | 0.0000% | 8h | 190.37 | −0.236% | $45.8M | $72.4M | 50x | as long as short |
| Gate SKHY_USDT | 0.0000% | 8h | 190.39 | −0.225% | $25.6M | $19.3M | 75x | as long as short |
| Bitget SKHYUSDT | 0.0000% | 8h | 190.61 | −0.110% | $24.4M | $28.2M | 20x | as long as short |
| Variational Omni SKHY | 0.0000% | 8h | 190.79 | −0.015% | $1.6M | $1.1M | — | as long as short |
edgeX SKHYUSDC
Coinbase International SKHY-PERP-INTX
Aster SKHYUSDT
Extended SKHY-USD
Binance SKHYUSDT
Bybit SKHYUSDT
OKX SKHY-USDT-SWAP
Gate SKHY_USDT
Bitget SKHYUSDT
Variational Omni SKHYShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT SKHY_USDT_Perp | 0.0000% | 8h | 190.60 | −0.115% | $22K | $209K | 10x | as long as short |
| SunX SKHY-USDT | 0.0000% | 8h | 191.12 | +0.157% | $699 | $6.2M | 10x | as long as short |
| HTX SKHY-USDT | 0.0000% | 8h | 190.73 | −0.047% | $159K | $370K | 50x | as long as short |
| Phemex SKHYUSDT | 0.0000% | 8h | 190.82 | 0.000% | $1.5M | $1.1M | 10x | as long as short |
| tradeXYZ xyz:SKHY | +0.0005% | 1h | 190.37 | −0.236% | $159.2M | $69.0M | 10x | as long as short |
| QFEX SKHY-USD | +0.0011% | 1h | 190.37 | −0.236% | $1.2M | $4.0M | 10x | as long as short |
| Lighter SKHYshort | +0.0032% | 1h | 190.31 | −0.267% | $1.0M | $691K | 10x | |
| Lighter RH SKHY | +0.0032% | 1h | 190.35 | −0.246% | $1.1M | $1.4M | 10x | as long as short |
| Arcus SKHY-USD | +0.0040% | 1h | 190.78 | −0.021% | $59K | $164K | 10x | as long as short |
| Vest SKHY-USD-PERP | +0.0046% | 1h | 190.44 | −0.199% | — | $12K | 10x | as long as short |
| Popdex SKHYUSDT | +0.0048% | 1h | 190.39 | −0.225% | $200K | $257K | 20x | as long as short |
| Polymarket Perps SKHY-USD | +0.0050% | 1h | 190.31 | −0.267% | $182K | $460K | 10x | as long as short |
| SoDEX SKHY-USD | +0.0050% | 1h | 190.72 | −0.052% | $42K | $13K | 10x | as long as short |
| Ondo Perps SKHY-USD.P | +0.0050% | 1h | 190.51 | −0.162% | $576K | $2.6M | 10x | as long as short |
| KuCoin SKHYUSDTM | +0.0100% | 8h | 190.54 | −0.147% | $1.1M | $321K | 20x | as long as short |
| Orderly PERP_SKHY_USDC_mythos | +0.0100% | 8h | 190.81 | −0.005% | $2K | $4K | 10x | as long as short |
| Nado SKHY-PERP | +0.0119% | 1h | 190.43 | −0.203% | $34K | $28K | 10x | as long as short |
| BloFin SKHY-USDT | +0.0120% | 8h | 190.74 | −0.042% | $2.2M | $435K | 50x | as long as short |
| Deribit SKHY_USDC-PERPETUALlong | +0.0169% | 1h | 190.82 | long leg | $48K | $325K | 10x | |
| Phoenix SKHY | +0.0375% | 1h | 191.05 | +0.121% | $214K | $124K | 10x | as long as short |
| Kraken Futures PF_SKHYUSD | +0.0686% | 1h | 190.91 | +0.048% | $48K | $19K | 20x | as long as short |
GRVT SKHY_USDT_Perp
SunX SKHY-USDT
HTX SKHY-USDT
Phemex SKHYUSDT
tradeXYZ xyz:SKHY
QFEX SKHY-USD
Lighter RH SKHY
Arcus SKHY-USD
Vest SKHY-USD-PERP
Popdex SKHYUSDT
Polymarket Perps SKHY-USD
SoDEX SKHY-USD
Ondo Perps SKHY-USD.P
KuCoin SKHYUSDTM
Orderly PERP_SKHY_USDC_mythos
Nado SKHY-PERP
BloFin SKHY-USDT
Phoenix SKHY
Kraken Futures PF_SKHYUSD