Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.010%

Price spread now: Lighter against Gate−0.084%7-day average −0.053% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$270.267% of the position

Long on Gate Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.014%−$1 on $10k

Price spread, last 7 days+0.038%+$4 · spread now −0.084%, 7d avg −0.053%

Together, before fees+0.025%+ Points / potential airdropLighter: Season 3 · farm board+$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.031% cheaper against Gate than usual: you would sell low and buy high (spread −0.084% now, against its 7-day average of −0.053%). If the spread goes back, that is −$3 on $10k: about 3.2 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SKHY_USDT	190.74	0	get 0.0000% / 8h	3h 48m	$25.7M	$19.2M	75x
Short	Lighter SKHY	190.58	0.0032	get 0.0004% / 1h	48m 37s	$1.0M	$691K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Gate. 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 GatebpFee LighterbpOrdersPrice spread, now −0.084%Rate

Funding earned: $6.72
Price spread: −0.084% → −0.053%: −$3.11
Slippage, 4 orders: −$11.71
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter: 0 bp × 2 orders: $0
Net: −$23.1
Costs to cover: 0.267%
Break-even: 31.1 days

Slippage from Gate: live order book, 5 min ago; Lighter: live order book, 2 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 Gate live order book, 5 min ago	1.30 bp	11.4 bp −$11	24.4 bp −$244	31.8 bp −$3,185	56.9 bp −$28.4K
Sell Lighter live order book, 2 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	−0.0312%	4h	191.61	+0.458%	$578K	$290K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0104%	1h	192.84	+1.101%	$45K	$861K	10x	as long as short
tradeXYZ xyz:SKHY	−0.0017%	1h	190.59	−0.079%	$159.4M	$68.8M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	190.65	−0.049%	$247K	$891K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	190.65	−0.047%	$56K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	190.83	+0.047%	$200.7M	$400.7M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	190.71	−0.016%	$15.5M	$28.3M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	190.68	−0.031%	$46.0M	$72.4M	50x	as long as short
Gate SKHY_USDTlong	0.0000%	8h	190.74	long leg	$25.7M	$19.2M	75x
Bitget SKHYUSDT	0.0000%	8h	190.77	+0.016%	$24.4M	$28.1M	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	191.43	+0.363%	$1.6M	$1.1M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	191.64	+0.472%	$22K	$209K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	191.16	+0.220%	$700	$6.2M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	190.70	−0.021%	$159K	$370K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	190.77	+0.016%	$1.5M	$1.1M	10x	as long as short
QFEX SKHY-USD	+0.0011%	1h	190.78	+0.021%	$1.2M	$4.0M	10x	as long as short
Lighter SKHYshort	+0.0032%	1h	190.58	−0.084%	$1.0M	$691K	10x
Lighter RH SKHY	+0.0032%	1h	190.55	−0.100%	$1.1M	$1.4M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	191.09	+0.183%	$59K	$164K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	190.67	−0.037%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	190.82	+0.042%	$201K	$257K	20x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	190.76	+0.010%	$182K	$460K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	190.72	−0.010%	$42K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	190.52	−0.115%	$549K	$2.5M	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	190.66	−0.042%	$1.1M	$322K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	190.84	+0.052%	$2K	$4K	10x	as long as short
Nado SKHY-PERP	+0.0119%	1h	190.71	−0.014%	$34K	$28K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	190.70	−0.021%	$2.2M	$435K	50x	as long as short
Deribit SKHY_USDC-PERPETUAL	+0.0327%	1h	190.87	+0.068%	$48K	$325K	10x	as long as short
Phoenix SKHY	+0.0375%	1h	191.05	+0.163%	$214K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0686%	1h	190.87	+0.066%	$48K	$19K	20x	as long as short