SKHY

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0153%/8h= −16.7% APRnext payment −$0.19 per $10,000 · paid last 24h −0.087%

Price spread now: Lighter against Phoenix−0.112%74s7-day average −0.192% · you buy dearer than you sell

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$280.281% of the position

Long on Phoenix Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.327%−$33 on $10k

Price spread, last 4 days (all we have)−2.192%−$219 · spread now −0.112%, 7d avg −0.192%

Together, before fees−2.519%+ Points / potential airdropLighter: Season 3 · farm board−$252 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.079% dearer against Phoenix than usual: you sell high and buy low (spread −0.112% now, against its 7-day average of −0.192%): +$8 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 42 hours. The two prices were read 74 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix SKHY	186.78	0.0129	pay 0.0016% / 1h	36m 11s	$209K	$123K	10x
Short	Lighter SKHY	186.57	−0.0024	pay 0.0003% / 1h	36m 11s	$975K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Phoenix. 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 PhoenixbpFee LighterbpOrdersPrice spread, now −0.112%Rate

Funding earned: −$32.09
Price spread: −0.112% → −0.192%: $7.94
Slippage, 4 orders: −$21.13
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$52.27
Costs to cover: 0.281%
Break-even: never at this rate

Slippage from Phoenix: live order book, 61 min ago; Lighter: live order book, 5 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 Phoenix live order book, 61 min ago	3.75 bp	12.7 bp −$13	27.5 bp −$275	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	0.80 bp	1.3 bp −$1	17.1 bp −$171	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	−0.1286%	8h	186.85	+0.037%	$25.4M	$33.1M	20x	as long as short
edgeX SKHYUSDC	−0.0792%	4h	186.53	−0.136%	$562K	$290K	10x	as long as short
Kraken Futures PF_SKHYUSD	−0.0266%	1h	186.68	−0.056%	$48K	$21K	20x	as long as short
tradeXYZ xyz:SKHY	−0.0238%	1h	186.63	−0.080%	$158.5M	$76.9M	10x	as long as short
Nado SKHY-PERP	−0.0188%	1h	186.75	−0.015%	$33K	$28K	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	−0.0178%	1h	186.66	−0.064%	$49K	$347K	10x	as long as short
Popdex SKHYUSDT	−0.0160%	1h	186.66	−0.064%	$204K	$289K	20x	as long as short
Polymarket Perps SKHY-USD	−0.0146%	1h	186.59	−0.102%	$180K	$487K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0072%	1h	187.58	+0.428%	$68K	$905K	10x	as long as short
QFEX SKHY-USD	−0.0061%	1h	186.64	−0.075%	$1.2M	$4.3M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SKHYUSDTM	−0.0033%	8h	186.56	−0.118%	$1.1M	$328K	20x	as long as short
Lighter SKHYshort	−0.0024%	1h	186.57	−0.112%	$975K	$1.2M	10x
Aster SKHYUSDT	0.0000%	8h	186.73	−0.027%	$223K	$925K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	186.61	−0.092%	$54K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	186.62	−0.087%	$200.6M	$450.8M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	186.62	−0.086%	$16.7M	$29.4M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	186.59	−0.102%	$44.7M	$79.7M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	186.63	−0.080%	$25.6M	$21.0M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	186.74	−0.022%	$1.6M	$1.0M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	186.65	−0.070%	$22K	$233K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	186.93	+0.080%	$684	$6.1M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	186.62	−0.086%	$155K	$363K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	186.67	−0.059%	$1.5M	$1.1M	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0014%	1h	186.41	−0.198%	$521K	$2.6M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	186.53	−0.134%	$1.1M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	186.59	−0.102%	$60K	$171K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	186.62	−0.086%	—	$32K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	186.62	−0.086%	$41K	$12K	10x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	186.64	−0.075%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	186.57	−0.112%	$2.2M	$426K	50x	as long as short
Phoenix SKHYlong	+0.0129%	1h	186.78	long leg	$209K	$123K	10x