Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0068%/8h= +7.4% APRpaid last 24h −0.003%

Price spread now: KuCoin against Lighter+0.010%7-day average +0.053% · you sell dearer than you buy

Net, funding: paid 7d − costs−$86as in the Funding arb table

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$830.834% of the position

Long on Lighter Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.026%−$3 on $10k

Price spread, last 7 days−0.040%−$4 · spread now +0.010%, 7d avg +0.053%

Together, before fees−0.066%+ Points / potential airdropLighter: Season 3 · farm board−$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.043% cheaper against Lighter than usual: you would sell low and buy high (spread +0.010% now, against its 7-day average of +0.053%). If the spread goes back, that is −$4 on $10k: about 2.1 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter SKHY	192.69	0.0032	pay 0.0004% / 1h	23m 15s	$1.0M	$688K	10x
Short	KuCoin SKHYUSDTM	192.71	0.0100	get 0.0100% / 8h	5h 23m	$1.1M	$291K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Lighter. 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 LighterbpFee KuCoinbpOrdersPrice spread, now +0.010%Rate

Funding earned: $14.28
Price spread: +0.010% → +0.053%: −$4.25
Slippage, 4 orders: −$71.41
Fee Lighter: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$73.38
Costs to cover: 0.834%
Break-even: 43.0 days

Slippage from Lighter: live order book, 2 min ago; KuCoin: live order book, 2 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 Lighter live order book, 2 min ago	1.04 bp	1.0 bp −$1	2.4 bp −$24	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	3.12 bp	56.4 bp −$56	doesn't fit	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	−0.0383%	4h	192.65	−0.023%	$581K	$290K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0032%	1h	192.90	+0.109%	$45K	$874K	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	192.74	+0.028%	$248K	$888K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	192.81	+0.060%	$56K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	192.84	+0.078%	$206.3M	$390.1M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	192.86	+0.088%	$15.7M	$27.3M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	192.87	+0.093%	$46.7M	$69.4M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	192.79	+0.052%	$25.8M	$19.0M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	192.70	+0.003%	$1.6M	$1.2M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	192.68	−0.005%	$23K	$195K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX SKHY-USDT	0.0000%	8h	193.21	+0.270%	$707	$6.4M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	192.84	+0.078%	$160K	$368K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	192.89	+0.104%	$1.5M	$1.1M	10x	as long as short
QFEX SKHY-USD	+0.0004%	1h	192.71	+0.010%	$1.2M	$4.3M	10x	as long as short
Lighter SKHYlong	+0.0032%	1h	192.69	long leg	$1.0M	$688K	10x
Lighter RH SKHY	+0.0032%	1h	192.68	−0.005%	$1.1M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	192.69	0.000%	$57K	$154K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	192.71	+0.010%	—	$11K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	192.84	+0.078%	$199K	$256K	20x	as long as short
tradeXYZ xyz:SKHY	+0.0050%	1h	192.71	+0.010%	$161.2M	$67.2M	10x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	192.71	+0.010%	$188K	$456K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	192.78	+0.047%	$43K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	192.64	−0.026%	$584K	$2.2M	10x	as long as short
KuCoin SKHYUSDTMshort	+0.0100%	8h	192.71	+0.010%	$1.1M	$291K	20x
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	192.79	+0.052%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	192.59	−0.052%	$2.2M	$445K	50x	as long as short
Bitget SKHYUSDT	+0.0131%	8h	192.80	+0.057%	$25.4M	$26.8M	20x	as long as short
Nado SKHY-PERP	+0.0168%	1h	192.75	+0.031%	$38K	$26K	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	+0.0321%	1h	192.89	+0.104%	$49K	$296K	10x	as long as short
Phoenix SKHY	+0.0332%	1h	192.82	+0.067%	$216K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0546%	1h	192.95	+0.133%	$51K	$17K	20x	as long as short