SKHY

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0756%/8h= −82.8% APRnext payment −$0.94 per $10,000 · paid last 24h −0.005%

Price spread now: Lighter against Polymarket Perps+0.031%7-day average +0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$160.159% of the position

Long on Polymarket Perps Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.052%−$5 on $10k

Price spread, last 7 days+0.048%+$5 · spread now +0.031%, 7d avg +0.009%

Together, before fees−0.004%+ Points / potential airdropLighter: Season 3 · farm board$0 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.022% dearer against Polymarket Perps than usual: you sell high and buy low (spread +0.031% now, against its 7-day average of +0.009%): +$2 on $10k if it goes back. Holding the pair costs −$23 a day in funding at the current rate, which eats that in about 2 hours. At the pace of the last 7 days (−0.052% in total) that is about 3.0 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.052% in total (about -2.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.94 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps SKHY-USD	192.34	0.0788	pay 0.0098% / 1h	51m 18s	$192K	$389K	10x
Short	Lighter SKHY	192.40	0.0032	get 0.0004% / 1h	51m 18s	$1.0M	$616K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Polymarket Perps. 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 Polymarket PerpsbpFee LighterbpOrdersPrice spread, now +0.031%Rate

Funding earned: −$158.71
Price spread: +0.031% → +0.009%: $2.25
Slippage, 4 orders: −$7.88
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$172.35
Costs to cover: 0.159%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 22 min ago; Lighter: 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 Polymarket Perps live order book, 22 min ago	2.64 bp	6.6 bp −$7	8.9 bp −$89	12.1 bp −$1,213	doesn't fit
Sell Lighter live order book, 4 min ago	0.78 bp	1.1 bp −$1	17.2 bp −$172	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	−0.0915%	4h	192.39	+0.028%	$580K	$289K	10x	as long as short
Nado SKHY-PERP	−0.0118%	1h	192.44	+0.052%	$29K	$2K	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	−0.0010%	1h	192.43	+0.047%	$46K	$259K	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	192.22	−0.065%	$255K	$905K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	192.41	+0.037%	$56K	$6K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	192.40	+0.032%	$213.2M	$383.1M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	192.38	+0.021%	$15.8M	$27.4M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	192.46	+0.062%	$47.7M	$63.6M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	192.47	+0.068%	$26.4M	$17.3M	75x	as long as short
Bitget SKHYUSDT	0.0000%	8h	192.37	+0.016%	$25.5M	$26.2M	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SKHY	0.0000%	8h	192.48	+0.070%	$1.6M	$2.4M	—	as long as short
SunX SKHY-USDT	0.0000%	8h	192.64	+0.156%	$705	$7.1M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	192.31	−0.016%	$158K	$393K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	192.38	+0.021%	$1.5M	$1.1M	10x	as long as short
QFEX SKHY-USD	+0.0005%	1h	192.24	−0.052%	$1.2M	$5.3M	10x	as long as short
KuCoin SKHYUSDTM	+0.0031%	8h	192.20	−0.073%	$1.1M	$272K	20x	as long as short
Lighter SKHYshort	+0.0032%	1h	192.40	+0.031%	$1.0M	$616K	10x
Lighter RH SKHY	+0.0032%	1h	192.37	+0.016%	$1.1M	$1.4M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	192.19	−0.078%	$57K	$154K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	192.40	+0.031%	—	$13K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	192.41	+0.036%	$196K	$257K	20x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	192.44	+0.052%	$536K	$1.4M	10x	as long as short
GRVT SKHY_USDT_Perp	+0.0053%	8h	192.35	+0.005%	$22K	$202K	10x	as long as short
Coinbase International SKHY-PERP-INTX	+0.0088%	1h	190.51	−0.951%	$171K	$682K	10x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	192.32	−0.010%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	192.41	+0.036%	$2.2M	$428K	50x	as long as short
Phoenix SKHY	+0.0335%	1h	192.45	+0.057%	$217K	$120K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0711%	1h	192.47	+0.067%	$51K	$25K	20x	as long as short
Polymarket Perps SKHY-USDlong	+0.0788%	1h	192.34	long leg	$192K	$389K	10x
tradeXYZ xyz:SKHY	+0.0916%	1h	192.44	+0.052%	$166.5M	$64.2M	10x	as long as short
SoDEX SKHY-USD	+0.1335%	1h	192.33	−0.005%	$43K	$13K	10x	as long as short