Funding you earn now, next payment 03:00 UTC−0.0340%/8h= −37.3% APRnext payment −$0.43 per $10,000 · paid last 24h −0.085%
Price spread now: Lighter RH against Phoenix−0.228%105s7-day average −0.216% · you buy dearer than you sell
Net, funding: paid 7d − costs−$54as 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−$240.240% of the position
Funding, last 7 days−0.303%−$30 on $10k
+Price spread, last 4 days (all we have)−0.656%−$66 · spread now −0.228%, 7d avg −0.216%
=Together, before fees−0.959%+ Points / potential airdropLighter RH: Points live · farm board−$96 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.216%, so right now this pair is about funding alone: −$10 a day on $10k at the current rate. The two prices were read 105 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 | 193.37 | 0.0372 | pay 0.0047% / 1h | 13m 34s | $217K | $124K | 10x |
| Short | Lighter RH SKHY | 192.93 | 0.0032 | get 0.0004% / 1h | 13m 34s | $1.1M | $1.6M | 10x |
Phoenix SKHY
Lighter RH SKHYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$71.46
- Price spread: −0.228% → −0.216%
- −$1.16
- Slippage, 4 orders
- −$17
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$96.63
- Costs to cover
- 0.240%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 38 min ago; Lighter RH: live order book, 4 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, 38 min ago | 2.59 bp | 9.9 bp −$10 | 20.2 bp −$202 | doesn't fit | doesn't fit |
| Sell Lighter RH live order book, 4 min ago | 1.55 bp | 2.1 bp −$2 | 8.3 bp −$83 | 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX SKHYUSDC | −0.0839% | 4h | 192.88 | −0.252% | $581K | $292K | 10x | as long as short |
| Coinbase International SKHY-PERP-INTX | −0.0048% | 1h | 192.84 | −0.274% | $45K | $861K | 10x | as long as short |
| Aster SKHYUSDT | 0.0000% | 8h | 192.99 | −0.198% | $249K | $889K | 50x | as long as short |
| Extended SKHY-USD | 0.0000% | 1h | 193.00 | −0.193% | $56K | $7K | 10x | as long as short |
| Binance SKHYUSDT | 0.0000% | 8h | 193.05 | −0.165% | $203.9M | $394.1M | 50x | as long as short |
| Bybit SKHYUSDT | 0.0000% | 8h | 193.04 | −0.171% | $15.7M | $27.7M | 100x | as long as short |
| OKX SKHY-USDT-SWAP | 0.0000% | 8h | 193.05 | −0.165% | $46.8M | $70.1M | 50x | as long as short |
| Gate SKHY_USDT | 0.0000% | 8h | 192.99 | −0.197% | $25.8M | $18.9M | 75x | as long as short |
| Variational Omni SKHY | 0.0000% | 8h | 192.91 | −0.237% | $1.6M | $1.1M | — | as long as short |
| GRVT SKHY_USDT_Perp | 0.0000% | 8h | 193.07 | −0.154% | $22K | $204K | 10x | as long as short |
edgeX SKHYUSDC
Coinbase International SKHY-PERP-INTX
Aster SKHYUSDT
Extended SKHY-USD
Binance SKHYUSDT
Bybit SKHYUSDT
OKX SKHY-USDT-SWAP
Gate SKHY_USDT
Variational Omni SKHY
GRVT SKHY_USDT_PerpShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX SKHY-USDT | 0.0000% | 8h | 193.33 | −0.021% | $708 | $6.2M | 10x | as long as short |
| HTX SKHY-USDT | 0.0000% | 8h | 192.98 | −0.202% | $161K | $369K | 50x | as long as short |
| Phemex SKHYUSDT | 0.0000% | 8h | 193.02 | −0.181% | $1.5M | $1.1M | 10x | as long as short |
| QFEX SKHY-USD | +0.0015% | 1h | 193.03 | −0.176% | $1.2M | $4.0M | 10x | as long as short |
| Lighter SKHY | +0.0032% | 1h | 192.93 | −0.228% | $1.0M | $688K | 10x | as long as short |
| Lighter RH SKHYshort | +0.0032% | 1h | 192.93 | −0.228% | $1.1M | $1.6M | 10x | |
| Arcus SKHY-USD | +0.0040% | 1h | 193.02 | −0.181% | $60K | $161K | 10x | as long as short |
| Vest SKHY-USD-PERP | +0.0046% | 1h | 192.95 | −0.217% | — | $12K | 10x | as long as short |
| Popdex SKHYUSDT | +0.0048% | 1h | 193.03 | −0.176% | $202K | $255K | 20x | as long as short |
| tradeXYZ xyz:SKHY | +0.0050% | 1h | 192.95 | −0.217% | $161.3M | $67.9M | 10x | as long as short |
| Polymarket Perps SKHY-USD | +0.0050% | 1h | 192.87 | −0.259% | $188K | $456K | 10x | as long as short |
| SoDEX SKHY-USD | +0.0050% | 1h | 192.92 | −0.233% | $43K | $13K | 10x | as long as short |
| Ondo Perps SKHY-USD.P | +0.0050% | 1h | 192.90 | −0.243% | $582K | $2.4M | 10x | as long as short |
| KuCoin SKHYUSDTM | +0.0100% | 8h | 193.03 | −0.176% | $1.1M | $315K | 20x | as long as short |
| Orderly PERP_SKHY_USDC_mythos | +0.0100% | 8h | 192.96 | −0.212% | $2K | $4K | 10x | as long as short |
| BloFin SKHY-USDT | +0.0120% | 8h | 192.93 | −0.228% | $2.3M | $437K | 50x | as long as short |
| Bitget SKHYUSDT | +0.0143% | 8h | 193.08 | −0.150% | $25.2M | $26.9M | 20x | as long as short |
| Nado SKHY-PERP | +0.0150% | 1h | 192.91 | −0.237% | $38K | $26K | 10x | as long as short |
| Deribit SKHY_USDC-PERPETUAL | +0.0268% | 1h | 192.99 | −0.197% | $49K | $321K | 10x | as long as short |
| Phoenix SKHYlong | +0.0372% | 1h | 193.37 | long leg | $217K | $124K | 10x | |
| Kraken Futures PF_SKHYUSD | +0.1058% | 1h | 193.06 | −0.160% | $49K | $19K | 20x | as long as short |
SunX SKHY-USDT
HTX SKHY-USDT
Phemex SKHYUSDT
QFEX SKHY-USD
Lighter SKHY
Arcus SKHY-USD
Vest SKHY-USD-PERP
Popdex SKHYUSDT
tradeXYZ xyz:SKHY
Polymarket Perps SKHY-USD
SoDEX SKHY-USD
Ondo Perps SKHY-USD.P
KuCoin SKHYUSDTM
Orderly PERP_SKHY_USDC_mythos
BloFin SKHY-USDT
Bitget SKHYUSDT
Nado SKHY-PERP
Deribit SKHY_USDC-PERPETUAL
Kraken Futures PF_SKHYUSD