Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.010%

Price spread now: Variational Omni against Lighter RH−0.095%7-day average +0.104% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter RH Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.007%−$1 on $10k

Price spread, last 7 days+0.215%+$22 · spread now −0.095%, 7d avg +0.104%

Together, before fees+0.208%+ Points / potential airdropLighter RH: Points live · Variational Omni: Active · farm board+$21 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 Variational Omni is 0.199% cheaper against Lighter RH than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of +0.104%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH SKHY	186.61	0.0032	pay 0.0004% / 1h	29m 22s	$1.1M	$1.6M	10x
Short	Variational Omni SKHY	186.43	0	get 0.0000% / 8h	1h 29m	$1.6M	$1.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.095%Rate

Funding earned: −$6.72
Price spread: −0.095% → +0.104%: −$19.93
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$26.65
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Lighter RH: live order book, 3 min ago; Variational Omni: RFQ quote, 5 min ago. Net counts fees only.

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	2.15 bp	2.6 bp −$3	7.8 bp −$78	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 5 min ago	2.25 bp	doesn't fit	6.3 bp −$63	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	−0.1283%	8h	186.80	+0.102%	$25.1M	$31.7M	20x	as long as short
edgeX SKHYUSDC	−0.0284%	4h	186.40	−0.113%	$562K	$292K	10x	as long as short
Nado SKHY-PERP	−0.0199%	1h	186.73	+0.066%	$33K	$28K	10x	as long as short
tradeXYZ xyz:SKHY	−0.0193%	1h	186.55	−0.032%	$158.5M	$74.7M	10x	as long as short
Popdex SKHYUSDT	−0.0192%	1h	186.60	−0.005%	$197K	$275K	20x	as long as short
Polymarket Perps SKHY-USD	−0.0180%	1h	186.51	−0.054%	$180K	$487K	10x	as long as short
Kraken Futures PF_SKHYUSD	−0.0139%	1h	186.66	+0.025%	$47K	$19K	20x	as long as short
Deribit SKHY_USDC-PERPETUAL	−0.0125%	1h	186.62	+0.005%	$49K	$342K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0104%	1h	187.75	+0.611%	$63K	$902K	10x	as long as short
Lighter SKHY	−0.0088%	1h	186.64	+0.016%	$954K	$1.1M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps SKHY-USD.P	−0.0056%	1h	186.32	−0.155%	$514K	$2.6M	10x	as long as short
QFEX SKHY-USD	−0.0049%	1h	186.59	−0.011%	$1.2M	$4.2M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	186.71	+0.056%	$226K	$919K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	186.54	−0.040%	$54K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	186.58	−0.016%	$199.2M	$439.9M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	186.62	+0.005%	$15.9M	$29.3M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	186.57	−0.021%	$44.6M	$77.7M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	186.59	−0.011%	$25.5M	$20.5M	75x	as long as short
Variational Omni SKHYshort	0.0000%	8h	186.43	−0.095%	$1.6M	$1.0M	—
GRVT SKHY_USDT_Perp	0.0000%	8h	186.39	−0.118%	$22K	$229K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	186.95	+0.182%	$684	$6.1M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	186.51	−0.054%	$155K	$367K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	186.63	+0.011%	$1.5M	$1.1M	10x	as long as short
Lighter RH SKHYlong	+0.0032%	1h	186.61	long leg	$1.1M	$1.6M	10x
Arcus SKHY-USD	+0.0040%	1h	186.41	−0.107%	$59K	$166K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	186.61	0.000%	—	$24K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	186.60	−0.005%	$41K	$13K	10x	as long as short
KuCoin SKHYUSDTM	+0.0087%	8h	186.56	−0.027%	$1.1M	$329K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	186.59	−0.011%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	186.47	−0.075%	$2.2M	$420K	50x	as long as short
Phoenix SKHY	+0.0213%	1h	186.53	−0.043%	$209K	$115K	10x	as long as short