Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0196%/8h= −21.5% APRpaid last 24h −0.022%

Price spread now: Lighter against Orderly−0.037%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Lighter is 0.037% cheaper against Orderly than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_SKHY_USDC_mythos	186.79	0.0100	pay 0.0100% / 8h	1h 21m	$2K	$4K	10x
Short	Lighter SKHY	186.72	−0.0096	pay 0.0012% / 1h	21m 49s	$955K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Orderly. 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 OrderlybpFee LighterbpOrdersPrice spread, now −0.037%Rate

Funding earned: −$41.16
Price spread: −0.037% → 0.000%: −$3.75
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Lighter: 0 bp × 2 orders: $0
Net: −$50.91
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Lighter: live order book, 4 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 Orderly no order-book sample	—	—	—	—	—
Sell Lighter live order book, 4 min ago	0.54 bp	0.6 bp −$1	2.0 bp −$20	124.9 bp −$12.5K	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1297%	8h	186.95	+0.086%	$25.1M	$31.7M	20x	as long as short
Deribit SKHY_USDC-PERPETUAL	−0.0873%	1h	186.74	−0.027%	$49K	$343K	10x	as long as short
edgeX SKHYUSDC	−0.0762%	4h	186.50	−0.157%	$562K	$290K	10x	as long as short
Nado SKHY-PERP	−0.0190%	1h	186.99	+0.110%	$33K	$28K	10x	as long as short
tradeXYZ xyz:SKHY	−0.0187%	1h	186.72	−0.037%	$158.6M	$74.7M	10x	as long as short
Popdex SKHYUSDT	−0.0184%	1h	186.77	−0.011%	$197K	$275K	20x	as long as short
Polymarket Perps SKHY-USD	−0.0169%	1h	186.71	−0.043%	$180K	$487K	10x	as long as short
Kraken Futures PF_SKHYUSD	−0.0139%	1h	186.69	−0.056%	$48K	$20K	20x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0104%	1h	187.75	+0.514%	$63K	$901K	10x	as long as short
Lighter SKHYshort	−0.0096%	1h	186.72	−0.037%	$955K	$1.2M	10x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX SKHY-USD	−0.0049%	1h	186.77	−0.011%	$1.2M	$4.2M	10x	as long as short
Ondo Perps SKHY-USD.P	−0.0045%	1h	186.39	−0.214%	$515K	$2.6M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	186.93	+0.074%	$227K	$919K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	186.62	−0.094%	$54K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	186.78	−0.005%	$199.3M	$439.9M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	186.77	−0.011%	$15.9M	$29.3M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	186.73	−0.032%	$44.6M	$77.7M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	186.75	−0.021%	$25.6M	$20.5M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	186.64	−0.079%	$1.6M	$1.0M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	186.51	−0.150%	$22K	$230K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	187.01	+0.118%	$684	$6.1M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	186.59	−0.107%	$155K	$367K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	186.67	−0.064%	$1.5M	$1.1M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	186.70	−0.048%	$1.1M	$1.6M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	186.61	−0.096%	$59K	$165K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	186.85	+0.032%	—	$24K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	186.67	−0.064%	$41K	$13K	10x	as long as short
KuCoin SKHYUSDTM	+0.0078%	8h	186.61	−0.096%	$1.1M	$327K	20x	as long as short
Orderly PERP_SKHY_USDC_mythoslong	+0.0100%	8h	186.79	long leg	$2K	$4K	10x
BloFin SKHY-USDT	+0.0120%	8h	186.73	−0.032%	$2.2M	$422K	50x	as long as short
Phoenix SKHY	+0.0213%	1h	186.85	+0.032%	$209K	$115K	10x	as long as short