Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.010%

Price spread now: Lighter RH against Variational Omni+0.063%7-day average −0.104% · you sell dearer than you buy

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

Long on Variational Omni Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.007%+$1 on $10k

Price spread, last 7 days−0.183%−$18 · spread now +0.063%, 7d avg −0.104%

Together, before fees−0.176%+ Points / potential airdropVariational Omni: Active · Lighter RH: Points live · farm board−$18 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 0.167% dearer against Variational Omni than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of −0.104%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni SKHY	186.43	0	get 0.0000% / 8h	1h 28m	$1.6M	$1.0M	—
Short	Lighter RH SKHY	186.55	0.0032	get 0.0004% / 1h	28m 38s	$1.1M	$1.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Variational Omni. 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 Variational OmnibpFee Lighter RHbpOrdersPrice spread, now +0.063%Rate

Funding earned: $6.72
Price spread: +0.063% → −0.104%: $16.72
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter RH: 0 bp × 2 orders: $0
Net: $23.44
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, just now; Lighter RH: 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 Variational Omni RFQ quote, just now	2.25 bp	doesn't fit	5.2 bp −$52	doesn't fit	doesn't fit
Sell Lighter RH live order book, 4 min ago	2.15 bp	2.7 bp −$3	13.0 bp −$130	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	−0.1287%	8h	186.80	+0.197%	$25.1M	$31.7M	20x	as long as short
edgeX SKHYUSDC	−0.0284%	4h	186.40	−0.018%	$562K	$292K	10x	as long as short
Nado SKHY-PERP	−0.0199%	1h	186.73	+0.161%	$33K	$28K	10x	as long as short
tradeXYZ xyz:SKHY	−0.0190%	1h	186.60	+0.090%	$158.6M	$74.7M	10x	as long as short
Popdex SKHYUSDT	−0.0184%	1h	186.62	+0.101%	$197K	$275K	20x	as long as short
Polymarket Perps SKHY-USD	−0.0180%	1h	186.51	+0.042%	$180K	$487K	10x	as long as short
Kraken Futures PF_SKHYUSD	−0.0139%	1h	186.66	+0.120%	$47K	$19K	20x	as long as short
Deribit SKHY_USDC-PERPETUAL	−0.0125%	1h	186.62	+0.101%	$49K	$342K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0104%	1h	187.75	+0.707%	$63K	$902K	10x	as long as short
Lighter SKHY	−0.0072%	1h	186.58	+0.079%	$954K	$1.1M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX SKHY-USD	−0.0049%	1h	186.60	+0.090%	$1.2M	$4.2M	10x	as long as short
Ondo Perps SKHY-USD.P	−0.0048%	1h	186.32	−0.060%	$514K	$2.6M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	186.73	+0.161%	$226K	$919K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	186.57	+0.071%	$54K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	186.61	+0.095%	$199.2M	$439.8M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	186.64	+0.111%	$15.9M	$29.3M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	186.61	+0.095%	$44.6M	$77.7M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	186.63	+0.106%	$25.5M	$20.5M	75x	as long as short
Variational Omni SKHYlong	0.0000%	8h	186.43	long leg	$1.6M	$1.0M	—
GRVT SKHY_USDT_Perp	0.0000%	8h	186.39	−0.023%	$22K	$229K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	186.95	+0.278%	$684	$6.1M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	186.51	+0.042%	$155K	$367K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	186.63	+0.106%	$1.5M	$1.1M	10x	as long as short
Lighter RH SKHYshort	+0.0032%	1h	186.55	+0.063%	$1.1M	$1.6M	10x
Arcus SKHY-USD	+0.0040%	1h	186.45	+0.009%	$59K	$166K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	186.61	+0.095%	—	$24K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	186.60	+0.090%	$41K	$13K	10x	as long as short
KuCoin SKHYUSDTM	+0.0087%	8h	186.56	+0.068%	$1.1M	$329K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	186.59	+0.085%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	186.58	+0.079%	$2.2M	$420K	50x	as long as short
Phoenix SKHY	+0.0213%	1h	186.53	+0.052%	$209K	$115K	10x	as long as short