Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.010%

Price spread now: Aster against Lighter+0.091%7-day average +0.054% · you sell dearer than you buy

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$170.175% of the position

Long on Lighter Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 4 days (all we have)−0.038%−$4 · spread now +0.091%, 7d avg +0.054%

Together, before fees−0.036%+ Points / potential airdropLighter: Season 3 · Aster: Stage 5 · farm board−$4 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.037% dearer against Lighter than usual: you sell high and buy low (spread +0.091% now, against its 7-day average of +0.054%): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter SKHY	192.75	0.0032	pay 0.0004% / 1h	44m 57s	$1.0M	$671K	10x
Short	Aster SKHYUSDT	192.92	0	get 0.0000% / 8h	6h 44m	$248K	$889K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Lighter. 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 LighterbpFee AsterbpOrdersPrice spread, now +0.091%Rate

Funding earned: −$6.72
Price spread: +0.091% → +0.054%: $3.67
Slippage, 4 orders: −$9.46
Fee Lighter: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$20.51
Costs to cover: 0.175%
Break-even: never at this rate

Slippage from Lighter: live order book, 6 min ago; Aster: live order book, 23 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 Lighter live order book, 6 min ago	1.55 bp	1.6 bp −$2	3.0 bp −$30	doesn't fit	doesn't fit
Sell Aster live order book, 23 min ago	1.03 bp	7.1 bp −$7	37.7 bp −$377	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	−0.0818%	4h	192.92	+0.086%	$582K	$291K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0072%	1h	192.90	+0.078%	$45K	$874K	10x	as long as short
Aster SKHYUSDTshort	0.0000%	8h	192.92	+0.091%	$248K	$889K	50x
Extended SKHY-USD	0.0000%	1h	192.83	+0.041%	$56K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	192.86	+0.056%	$210.8M	$384.5M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	192.87	+0.062%	$15.6M	$27.1M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	192.87	+0.062%	$46.9M	$68.7M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	192.77	+0.010%	$25.8M	$18.7M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	193.02	+0.138%	$1.6M	$2.2M	—	as long as short
SunX SKHY-USDT	0.0000%	8h	193.26	+0.265%	$707	$6.6M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit SKHY_USDC-PERPETUAL	0.0000%	1h	192.83	+0.042%	$48K	$270K	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	192.85	+0.052%	$160K	$377K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	192.86	+0.057%	$1.5M	$1.1M	10x	as long as short
QFEX SKHY-USD	+0.0002%	1h	192.89	+0.073%	$1.2M	$4.7M	10x	as long as short
Nado SKHY-PERP	+0.0008%	1h	192.91	+0.081%	$43K	$21K	10x	as long as short
Lighter SKHYlong	+0.0032%	1h	192.75	long leg	$1.0M	$671K	10x
Lighter RH SKHY	+0.0032%	1h	192.76	+0.005%	$1.1M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	193.05	+0.156%	$57K	$154K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	192.93	+0.093%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	192.92	+0.088%	$197K	$256K	20x	as long as short
tradeXYZ xyz:SKHY	+0.0050%	1h	192.84	+0.047%	$163.1M	$66.5M	10x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	192.81	+0.031%	$190K	$454K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	192.89	+0.073%	$43K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	192.77	+0.010%	$521K	$1.8M	10x	as long as short
GRVT SKHY_USDT_Perp	+0.0057%	8h	193.13	+0.195%	$22K	$191K	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	192.92	+0.088%	$1.1M	$279K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	192.89	+0.073%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	193.08	+0.171%	$2.3M	$445K	50x	as long as short
Phoenix SKHY	+0.0331%	1h	193.14	+0.202%	$216K	$123K	10x	as long as short
Bitget SKHYUSDT	+0.0410%	8h	192.96	+0.109%	$25.6M	$26.4M	20x	as long as short
Kraken Futures PF_SKHYUSD	+0.0706%	1h	192.91	+0.086%	$51K	$17K	20x	as long as short