Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0244%/8h= −26.7% APRpaid last 24h +0.002%

Price spread now: Lighter against KuCoin−0.150%7-day average −0.056% · you buy dearer than you sell

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$77as in the Price arb table

costs, in and out, $10k−$680.680% of the position

Long on KuCoin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.040%+$4 on $10k

Price spread, last 7 days+0.079%+$8 · spread now −0.150%, 7d avg −0.056%

Together, before fees+0.119%+ Points / potential airdropLighter: Season 3 · farm board+$12 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Lighter is 0.095% cheaper against KuCoin than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.056%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.040% in total (about 2.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SKHYUSDTM	186.54	0.0100	pay 0.0100% / 8h	1h 37m	$1.1M	$328K	20x
Short	Lighter SKHY	186.26	−0.0144	pay 0.0018% / 1h	37m 50s	$961K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against KuCoin. 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 KuCoinbpFee LighterbpOrdersPrice spread, now −0.150%Rate

Funding earned: −$51.24
Price spread: −0.150% → −0.056%: −$9.45
Slippage, 4 orders: −$55.96
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$128.65
Costs to cover: 0.680%
Break-even: never at this rate

Slippage from KuCoin: live order book, 7 min ago; Lighter: 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 KuCoin live order book, 7 min ago	1.87 bp	34.2 bp −$34	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	0.54 bp	0.5 bp −$1	7.1 bp −$71	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	−0.1179%	8h	186.55	+0.005%	$25.0M	$31.7M	20x	as long as short
edgeX SKHYUSDC	−0.0809%	4h	186.57	+0.013%	$562K	$290K	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	−0.0715%	1h	186.27	−0.145%	$49K	$341K	10x	as long as short
tradeXYZ xyz:SKHY	−0.0201%	1h	186.37	−0.091%	$158.3M	$74.2M	10x	as long as short
Nado SKHY-PERP	−0.0195%	1h	186.42	−0.064%	$33K	$28K	10x	as long as short
Popdex SKHYUSDT	−0.0192%	1h	186.21	−0.177%	$196K	$274K	20x	as long as short
Polymarket Perps SKHY-USD	−0.0190%	1h	186.15	−0.209%	$180K	$487K	10x	as long as short
Lighter SKHYshort	−0.0144%	1h	186.26	−0.150%	$961K	$1.1M	10x
Kraken Futures PF_SKHYUSD	−0.0139%	1h	186.36	−0.096%	$47K	$19K	20x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0104%	1h	187.75	+0.649%	$63K	$902K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX SKHY-USD	−0.0049%	1h	186.22	−0.172%	$1.2M	$4.1M	10x	as long as short
Ondo Perps SKHY-USD.P	−0.0042%	1h	186.07	−0.252%	$514K	$2.6M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	186.61	+0.039%	$226K	$916K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	186.34	−0.105%	$54K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	186.37	−0.091%	$199.0M	$438.6M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	186.42	−0.064%	$15.8M	$29.3M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	186.39	−0.080%	$44.5M	$77.4M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	186.34	−0.107%	$25.5M	$20.4M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	186.53	−0.004%	$1.6M	$1.0M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	186.59	+0.027%	$22K	$228K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	186.52	−0.011%	$683	$6.1M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	186.19	−0.188%	$154K	$367K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	186.34	−0.107%	$1.5M	$1.1M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	186.27	−0.145%	$1.1M	$1.6M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	186.51	−0.016%	$58K	$165K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	186.41	−0.070%	—	$24K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	186.25	−0.155%	$41K	$13K	10x	as long as short
KuCoin SKHYUSDTMlong	+0.0100%	8h	186.54	long leg	$1.1M	$328K	20x
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	186.28	−0.139%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	186.25	−0.155%	$2.2M	$419K	50x	as long as short
Phoenix SKHY	+0.0213%	1h	187.04	+0.268%	$210K	$115K	10x	as long as short