Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.010%

Price spread now: Lighter RH against Phemex−0.037%7-day average −0.080% · you buy dearer than you sell

Net, funding: paid 7d − costs−$105as in the Funding arb table

Net, price: spread back to 7d avg − costs−$102as in the Price arb table

costs, in and out, $10k−$1061.063% of the position

Long on Phemex Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.016%+$2 on $10k

Price spread, last 4 days (all we have)−0.025%−$3 · spread now −0.037%, 7d avg −0.080%

Together, before fees−0.009%+ Points / potential airdropLighter RH: Points live · farm board−$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter RH is 0.043% dearer against Phemex than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.080%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SKHYUSDT	186.79	0	get 0.0000% / 8h	2h 24m	$1.5M	$1.1M	10x
Short	Lighter RH SKHY	186.72	0.0032	get 0.0004% / 1h	24m 57s	$1.0M	$1.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Phemex. 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 PhemexbpFee Lighter RHbpOrdersPrice spread, now −0.037%Rate

Funding earned: $6.72
Price spread: −0.037% → −0.080%: $4.28
Slippage, 4 orders: −$94.33
Fee Phemex: 6 bp × 2 orders: −$12
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$95.32
Costs to cover: 1.063%
Break-even: 106.3 days

Slippage from Phemex: live order book, 3 min ago; Lighter RH: 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 Phemex live order book, 3 min ago	3.23 bp	50.5 bp −$50	doesn't fit	doesn't fit	doesn't fit
Sell Lighter RH live order book, 3 min ago	1.88 bp	2.2 bp −$2	10.7 bp −$107	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	−0.1086%	8h	186.96	+0.091%	$24.8M	$30.7M	20x	as long as short
edgeX SKHYUSDC	−0.0321%	4h	186.14	−0.348%	$561K	$290K	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	−0.0232%	1h	186.78	−0.005%	$48K	$335K	10x	as long as short
Nado SKHY-PERP	−0.0111%	1h	186.94	+0.080%	$33K	$28K	10x	as long as short
tradeXYZ xyz:SKHY	−0.0086%	1h	186.70	−0.048%	$157.8M	$73.3M	10x	as long as short
Polymarket Perps SKHY-USD	−0.0063%	1h	186.69	−0.054%	$180K	$487K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0024%	1h	186.71	−0.043%	$47K	$875K	10x	as long as short
QFEX SKHY-USD	−0.0014%	1h	186.78	−0.005%	$1.2M	$4.1M	10x	as long as short
Lighter SKHY	0.0000%	1h	186.76	−0.016%	$910K	$976K	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	186.70	−0.047%	$228K	$913K	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended SKHY-USD	0.0000%	1h	186.64	−0.080%	$54K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	186.71	−0.042%	$198.9M	$427.5M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	186.84	+0.027%	$15.7M	$30.0M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	186.77	−0.011%	$44.2M	$75.8M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	186.72	−0.037%	$25.1M	$20.5M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	186.47	−0.169%	$1.6M	$1.0M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	186.54	−0.134%	$22K	$220K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	187.04	+0.134%	$685	$6.2M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	186.71	−0.043%	$155K	$371K	50x	as long as short
Phemex SKHYUSDTlong	0.0000%	8h	186.79	long leg	$1.5M	$1.1M	10x
Ondo Perps SKHY-USD.P	+0.0030%	1h	186.56	−0.123%	$514K	$2.6M	10x	as long as short
Lighter RH SKHYshort	+0.0032%	1h	186.72	−0.037%	$1.0M	$1.6M	10x
Arcus SKHY-USD	+0.0040%	1h	186.46	−0.177%	$58K	$164K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	186.81	+0.011%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	186.80	+0.005%	$193K	$272K	20x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	186.63	−0.086%	$41K	$13K	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	186.67	−0.064%	$1.1M	$320K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	186.73	−0.032%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	186.69	−0.054%	$2.1M	$410K	50x	as long as short
Phoenix SKHY	+0.0254%	1h	187.06	+0.145%	$210K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0262%	1h	186.84	+0.026%	$47K	$19K	20x	as long as short