Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.1369%/8h= −149.9% APRpaid last 24h −0.010%

Price spread now: Bitget against Lighter RH+0.183%7-day average +0.103% · you sell dearer than you buy

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$13as in the Price arb table

costs, in and out, $10k−$210.206% of the position

Long on Lighter RH Short on Bitget

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−0.061%−$6 · spread now +0.183%, 7d avg +0.103%

Together, before fees−0.047%+ Points / potential airdropLighter RH: Points live · farm board−$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.080% dearer against Lighter RH than usual: you sell high and buy low (spread +0.183% now, against its 7-day average of +0.103%): +$8 on $10k if it goes back. Holding the pair costs −$41 a day in funding at the current rate, which eats that in about 5 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.014% in total (about 0.7% 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	Lighter RH SKHY	185.99	0.0032	pay 0.0004% / 1h	59m 40s	$1.1M	$1.7M	10x
Short	Bitget SKHYUSDT	186.33	−0.1337	pay 0.1337% / 8h	59m 40s	$25.2M	$32.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Lighter RH. 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 Lighter RHbpFee BitgetbpOrdersPrice spread, now +0.183%Rate

Funding earned: −$287.49
Price spread: +0.183% → +0.103%: $8.02
Slippage, 4 orders: −$8.6
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$300.08
Costs to cover: 0.206%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 3 min ago; Bitget: 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 Lighter RH live order book, 3 min ago	1.88 bp	2.1 bp −$2	5.8 bp −$58	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	0.54 bp	8.7 bp −$9	16.9 bp −$169	28.7 bp −$2,871	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 SKHYUSDTshort	−0.1337%	8h	186.33	+0.183%	$25.2M	$32.6M	20x
edgeX SKHYUSDC	−0.0326%	4h	186.19	+0.108%	$561K	$292K	10x	as long as short
tradeXYZ xyz:SKHY	−0.0239%	1h	186.06	+0.038%	$158.2M	$76.5M	10x	as long as short
Nado SKHY-PERP	−0.0196%	1h	186.25	+0.138%	$33K	$28K	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	−0.0180%	1h	186.15	+0.086%	$49K	$345K	10x	as long as short
Polymarket Perps SKHY-USD	−0.0165%	1h	186.04	+0.027%	$180K	$487K	10x	as long as short
Kraken Futures PF_SKHYUSD	−0.0139%	1h	186.24	+0.133%	$48K	$21K	20x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0104%	1h	187.58	+0.855%	$68K	$905K	10x	as long as short
Lighter SKHY	−0.0096%	1h	186.00	+0.005%	$973K	$1.2M	10x	as long as short
Popdex SKHYUSDT	−0.0080%	1h	185.86	−0.070%	$203K	$284K	20x	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	185.88	−0.059%	$1.2M	$4.3M	10x	as long as short
Ondo Perps SKHY-USD.P	−0.0022%	1h	186.09	+0.054%	$520K	$2.6M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	186.11	+0.063%	$223K	$925K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	185.99	−0.001%	$54K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	185.91	−0.042%	$199.5M	$448.3M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	185.95	−0.022%	$16.5M	$29.7M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	185.87	−0.065%	$44.5M	$78.6M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	186.08	+0.048%	$25.5M	$20.7M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	186.16	+0.093%	$1.6M	$1.0M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	186.25	+0.137%	$22K	$231K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	186.39	+0.215%	$682	$6.1M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	186.04	+0.027%	$154K	$366K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	186.12	+0.070%	$1.5M	$1.1M	10x	as long as short
KuCoin SKHYUSDTM	+0.0008%	8h	186.19	+0.108%	$1.1M	$325K	20x	as long as short
Lighter RH SKHYlong	+0.0032%	1h	185.99	long leg	$1.1M	$1.7M	10x
Arcus SKHY-USD	+0.0040%	1h	186.17	+0.097%	$60K	$170K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	186.17	+0.097%	—	$32K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	186.10	+0.059%	$41K	$12K	10x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	186.15	+0.086%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	186.19	+0.108%	$2.2M	$422K	50x	as long as short
Phoenix SKHY	+0.0213%	1h	186.34	+0.188%	$209K	$115K	10x	as long as short