Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0535%/8h= +58.6% APRpaid last 24h −0.015%

Price spread now: Lighter against edgeX−0.034%79s7-day average −0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$91as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$160.164% of the position

Long on edgeX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.744%−$74 on $10k

Price spread, last 3 days (all we have)−0.223%−$22 · spread now −0.034%, 7d avg −0.044%

Together, before fees−0.967%+ Points / potential airdropedgeX: Active · Lighter: Season 3 · farm board−$97 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.044%, so right now this pair is about funding alone: +$16 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.744%, so the current rate has only just turned in your favour. The two prices were read 79 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX SKHYUSDC	188.74	−0.0503	get 0.0252% / 4h	1h 46m	$569K	$290K	10x
Short	Lighter SKHY	188.68	0.0032	get 0.0004% / 1h	46m 18s	$1.0M	$711K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against edgeX. 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 edgeXbpFee LighterbpOrdersPrice spread, now −0.034%Rate

Funding earned: $112.38
Price spread: −0.034% → −0.044%: $0.98
Slippage, 4 orders: −$7.41
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: $96.95
Costs to cover: 0.164%
Break-even: 1.0 days

Slippage from edgeX: live order book, 37 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 edgeX live order book, 37 min ago	1.33 bp	6.3 bp −$6	11.5 bp −$115	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	1.06 bp	2.3 bp −$2	3.3 bp −$33	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 SKHYUSDClong	−0.0503%	4h	188.74	long leg	$569K	$290K	10x
KuCoin SKHYUSDTM	−0.0021%	8h	188.66	−0.045%	$1.1M	$317K	20x	as long as short
Nado SKHY-PERP	−0.0007%	1h	188.69	−0.029%	$28K	$2K	10x	as long as short
QFEX SKHY-USD	−0.0001%	1h	188.69	−0.029%	$1.2M	$5.2M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	188.69	−0.028%	$250K	$901K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	188.69	−0.030%	$55K	$4K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	188.72	−0.013%	$211.4M	$378.9M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	188.75	+0.003%	$15.8M	$26.4M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	188.72	−0.013%	$46.9M	$60.7M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	188.70	−0.024%	$26.0M	$17.7M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SKHYUSDT	0.0000%	8h	188.73	−0.008%	$25.3M	$25.1M	20x	as long as short
Variational Omni SKHY	0.0000%	8h	188.76	+0.007%	$1.5M	$2.5M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	188.76	+0.008%	$22K	$216K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	188.98	+0.125%	$692	$7.3M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	188.67	−0.040%	$155K	$399K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	188.70	−0.024%	$1.5M	$1.1M	10x	as long as short
Lighter SKHYshort	+0.0032%	1h	188.68	−0.034%	$1.0M	$711K	10x
Lighter RH SKHY	+0.0032%	1h	188.62	−0.066%	$1.1M	$1.4M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	188.68	−0.034%	$56K	$156K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	188.67	−0.040%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	188.72	−0.013%	$202K	$241K	20x	as long as short
tradeXYZ xyz:SKHY	+0.0050%	1h	188.65	−0.050%	$164.4M	$65.0M	10x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	188.61	−0.071%	$186K	$923K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	188.69	−0.029%	$42K	$12K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	188.68	−0.034%	$530K	$943K	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	+0.0068%	1h	188.74	−0.003%	$45K	$228K	10x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	188.76	+0.008%	$2K	$5K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	188.76	+0.008%	$2.2M	$432K	50x	as long as short
Coinbase International SKHY-PERP-INTX	+0.0240%	1h	188.78	+0.019%	$168K	$687K	10x	as long as short
Phoenix SKHY	+0.0297%	1h	188.95	+0.109%	$213K	$128K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0872%	1h	188.85	+0.053%	$50K	$24K	20x	as long as short