Funding you earn now, next payment 02:00 UTC−0.0032%/8h= −3.5% APRnext payment −$0.04 per $10,000 · paid last 24h −0.019%
Price spread now: Deribit against Lighter+0.109%7-day average +0.063% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$27as in the Price arb table
costs, in and out, $10k−$320.315% of the position
Funding, last 4 days (all we have)−0.040%−$4 on $10k
+Price spread, last 3 days (all we have)−0.045%−$5 · spread now +0.109%, 7d avg +0.063%
=Together, before fees−0.086%+ Points / potential airdropLighter: Season 3 · farm board−$9 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Deribit is 0.046% dearer against Lighter than usual: you sell high and buy low (spread +0.109% now, against its 7-day average of +0.063%): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4.8 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter SKHY | 192.28 | 0.0032 | pay 0.0004% / 1h | 19m 26s | $1.0M | $687K | 10x |
| Short | Deribit SKHY_USDC-PERPETUAL | 192.49 | 0 | get 0.0000% / 1h | 19m 26s | $48K | $272K | 10x |
Lighter SKHY
Deribit SKHY_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Lighter. 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
- −$6.72
- Price spread: +0.109% → +0.063%
- $4.63
- Slippage, 4 orders
- −$24.55
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$33.63
- Costs to cover
- 0.315%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 1 min ago; Deribit: live order book, 49 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, 1 min ago | 0.52 bp | 4.4 bp −$4 | 17.0 bp −$170 | doesn't fit | doesn't fit |
| Sell Deribit live order book, 49 min ago | 8.79 bp | 13.8 bp −$14 | 18.4 bp −$184 | doesn't fit | doesn't fit |
SKHY on 30 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 | −0.0856% | 4h | 192.53 | +0.131% | $580K | $290K | 10x | as long as short |
| Coinbase International SKHY-PERP-INTX | −0.0072% | 1h | 192.90 | +0.322% | $45K | $874K | 10x | as long as short |
| Aster SKHYUSDT | 0.0000% | 8h | 192.43 | +0.079% | $248K | $890K | 50x | as long as short |
| Extended SKHY-USD | 0.0000% | 1h | 192.36 | +0.041% | $56K | $7K | 10x | as long as short |
| Binance SKHYUSDT | 0.0000% | 8h | 192.38 | +0.052% | $208.9M | $386.1M | 50x | as long as short |
| Bybit SKHYUSDT | 0.0000% | 8h | 192.37 | +0.047% | $15.6M | $27.3M | 100x | as long as short |
| OKX SKHY-USDT-SWAP | 0.0000% | 8h | 192.47 | +0.099% | $46.6M | $69.0M | 50x | as long as short |
| Gate SKHY_USDT | 0.0000% | 8h | 192.31 | +0.016% | $25.7M | $18.9M | 75x | as long as short |
| Variational Omni SKHY | 0.0000% | 8h | 192.52 | +0.124% | $1.6M | $2.0M | — | as long as short |
| GRVT SKHY_USDT_Perp | 0.0000% | 8h | 192.90 | +0.324% | $22K | $193K | 10x | 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
Variational Omni SKHY
GRVT SKHY_USDT_PerpShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX SKHY-USDT | 0.0000% | 8h | 192.75 | +0.244% | $705 | $6.5M | 10x | as long as short |
| Deribit SKHY_USDC-PERPETUALshort | 0.0000% | 1h | 192.49 | +0.109% | $48K | $272K | 10x | |
| HTX SKHY-USDT | 0.0000% | 8h | 192.45 | +0.088% | $160K | $376K | 50x | as long as short |
| Phemex SKHYUSDT | 0.0000% | 8h | 192.42 | +0.073% | $1.5M | $1.1M | 10x | as long as short |
| QFEX SKHY-USD | +0.0002% | 1h | 192.42 | +0.073% | $1.2M | $4.4M | 10x | as long as short |
| Nado SKHY-PERP | +0.0029% | 1h | 192.45 | +0.089% | $38K | $26K | 10x | as long as short |
| Lighter SKHYlong | +0.0032% | 1h | 192.28 | long leg | $1.0M | $687K | 10x | |
| Lighter RH SKHY | +0.0032% | 1h | 192.29 | +0.005% | $1.1M | $1.5M | 10x | as long as short |
| Arcus SKHY-USD | +0.0040% | 1h | 192.61 | +0.172% | $57K | $155K | 10x | as long as short |
| Vest SKHY-USD-PERP | +0.0046% | 1h | 192.41 | +0.068% | — | $12K | 10x | as long as short |
| Popdex SKHYUSDT | +0.0048% | 1h | 192.45 | +0.088% | $197K | $256K | 20x | as long as short |
| tradeXYZ xyz:SKHY | +0.0050% | 1h | 192.32 | +0.021% | $162.0M | $66.2M | 10x | as long as short |
| Polymarket Perps SKHY-USD | +0.0050% | 1h | 192.33 | +0.026% | $188K | $456K | 10x | as long as short |
| SoDEX SKHY-USD | +0.0050% | 1h | 192.44 | +0.083% | $43K | $13K | 10x | as long as short |
| Ondo Perps SKHY-USD.P | +0.0050% | 1h | 192.85 | +0.296% | $532K | $1.9M | 10x | as long as short |
| KuCoin SKHYUSDTM | +0.0100% | 8h | 192.43 | +0.078% | $1.1M | $283K | 20x | as long as short |
| Orderly PERP_SKHY_USDC_mythos | +0.0100% | 8h | 192.40 | +0.062% | $2K | $4K | 10x | as long as short |
| Bitget SKHYUSDT | +0.0282% | 8h | 192.44 | +0.083% | $25.5M | $26.3M | 20x | as long as short |
| Phoenix SKHY | +0.0331% | 1h | 192.70 | +0.218% | $216K | $123K | 10x | as long as short |
| Kraken Futures PF_SKHYUSD | +0.0708% | 1h | 192.58 | +0.153% | $51K | $17K | 20x | as long as short |
SunX SKHY-USDT
HTX SKHY-USDT
Phemex SKHYUSDT
QFEX SKHY-USD
Nado SKHY-PERP
Lighter RH SKHY
Arcus SKHY-USD
Vest SKHY-USD-PERP
Popdex SKHYUSDT
tradeXYZ xyz:SKHY
Polymarket Perps SKHY-USD
SoDEX SKHY-USD
Ondo Perps SKHY-USD.P
KuCoin SKHYUSDTM
Orderly PERP_SKHY_USDC_mythos
Bitget SKHYUSDT
Phoenix SKHY
Kraken Futures PF_SKHYUSD