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: Bybit against Lighter RH+0.037%7-day average +0.102% · 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−$27as in the Price arb table

costs, in and out, $10k−$200.201% of the position

Long on Lighter RH Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 7 days+0.118%+$12 · spread now +0.037%, 7d avg +0.102%

Together, before fees+0.127%+ Points / potential airdropLighter RH: Points live · farm board+$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 0.065% cheaper against Lighter RH than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.102%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH SKHY	190.35	0.0032	pay 0.0004% / 1h	45m 39s	$1.1M	$1.4M	10x
Short	Bybit SKHYUSDT	190.42	0	get 0.0000% / 8h	3h 45m	$15.4M	$28.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.037%Rate

Funding earned: −$6.72
Price spread: +0.037% → +0.102%: −$6.5
Slippage, 4 orders: −$9.12
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$33.35
Costs to cover: 0.201%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 2 min ago; Bybit: 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 Lighter RH live order book, 2 min ago	1.57 bp	2.5 bp −$2	10.2 bp −$102	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.26 bp	7.8 bp −$8	11.4 bp −$114	71.0 bp −$7,104	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	−0.0851%	4h	190.81	+0.243%	$575K	$291K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0104%	1h	192.84	+1.308%	$45K	$861K	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	190.71	+0.188%	$248K	$891K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	190.43	+0.045%	$56K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	190.50	+0.077%	$200.3M	$401.8M	50x	as long as short
Bybit SKHYUSDTshort	0.0000%	8h	190.42	+0.037%	$15.4M	$28.4M	100x
OKX SKHY-USDT-SWAP	0.0000%	8h	190.35	0.000%	$45.8M	$72.4M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	190.48	+0.068%	$25.6M	$19.3M	75x	as long as short
Bitget SKHYUSDT	0.0000%	8h	190.65	+0.158%	$24.4M	$28.1M	20x	as long as short
Variational Omni SKHY	0.0000%	8h	190.79	+0.232%	$1.6M	$1.1M	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT SKHY_USDT_Perp	0.0000%	8h	190.60	+0.131%	$22K	$209K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	191.12	+0.405%	$699	$6.2M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	190.73	+0.200%	$159K	$370K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	190.82	+0.247%	$1.5M	$1.1M	10x	as long as short
tradeXYZ xyz:SKHY	+0.0005%	1h	190.37	+0.011%	$159.2M	$69.0M	10x	as long as short
QFEX SKHY-USD	+0.0011%	1h	190.69	+0.179%	$1.2M	$4.0M	10x	as long as short
Lighter SKHY	+0.0032%	1h	190.31	−0.021%	$1.0M	$691K	10x	as long as short
Lighter RH SKHYlong	+0.0032%	1h	190.35	long leg	$1.1M	$1.4M	10x
Arcus SKHY-USD	+0.0040%	1h	190.78	+0.226%	$59K	$164K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	190.73	+0.200%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	190.77	+0.221%	$201K	$257K	20x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	190.66	+0.163%	$182K	$460K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	190.72	+0.194%	$42K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	190.51	+0.084%	$576K	$2.6M	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	190.54	+0.100%	$1.1M	$321K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	190.81	+0.242%	$2K	$4K	10x	as long as short
Nado SKHY-PERP	+0.0114%	1h	190.72	+0.197%	$34K	$28K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	190.74	+0.205%	$2.2M	$435K	50x	as long as short
Deribit SKHY_USDC-PERPETUAL	+0.0169%	1h	190.82	+0.247%	$48K	$325K	10x	as long as short
Phoenix SKHY	+0.0375%	1h	191.05	+0.368%	$214K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0686%	1h	190.91	+0.295%	$48K	$19K	20x	as long as short