Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.007%

Price spread now: Lighter against OKX−0.036%7-day average −0.076% · you buy dearer than you sell

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$140.139% of the position

Long on OKX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.046%−$5 on $10k

Price spread, last 7 days+0.001%$0 · spread now −0.036%, 7d avg −0.076%

Together, before fees−0.045%+ Points / potential airdropLighter: Season 3 · farm board−$5 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 is 0.040% dearer against OKX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.076%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SKHY-USDT-SWAP	193.33	0	get 0.0000% / 8h	7h 00m	$47.0M	$68.6M	50x
Short	Lighter SKHY	193.26	0.0032	get 0.0004% / 1h	0m 24s	$1.0M	$699K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against OKX. 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 OKXbpFee LighterbpOrdersPrice spread, now −0.036%Rate

Funding earned: $6.72
Price spread: −0.036% → −0.076%: $3.99
Slippage, 4 orders: −$3.88
Fee OKX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$3.17
Costs to cover: 0.139%
Break-even: 10.3 days

Slippage from OKX: live order book, 3 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 OKX live order book, 3 min ago	0.26 bp	6.4 bp −$6	8.1 bp −$81	46.8 bp −$4,680	doesn't fit
Sell Lighter live order book, 5 min ago	0.78 bp	0.8 bp −$1	15.1 bp −$151	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	−0.0880%	4h	193.20	−0.068%	$582K	$291K	10x	as long as short
Nado SKHY-PERP	−0.0023%	1h	193.33	−0.002%	$44K	$20K	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	193.20	−0.068%	$249K	$890K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	193.25	−0.041%	$56K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	193.28	−0.026%	$211.5M	$385.1M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	193.29	−0.021%	$15.7M	$27.1M	100x	as long as short
OKX SKHY-USDT-SWAPlong	0.0000%	8h	193.33	long leg	$47.0M	$68.6M	50x
Gate SKHY_USDT	0.0000%	8h	193.24	−0.047%	$25.8M	$18.9M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	193.13	−0.103%	$1.7M	$2.3M	—	as long as short
SunX SKHY-USDT	0.0000%	8h	193.45	+0.062%	$708	$6.7M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit SKHY_USDC-PERPETUAL	0.0000%	1h	193.10	−0.119%	$48K	$270K	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	193.10	−0.119%	$160K	$376K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	193.14	−0.098%	$1.5M	$1.1M	10x	as long as short
QFEX SKHY-USD	+0.0005%	1h	193.27	−0.031%	$1.2M	$4.9M	10x	as long as short
Lighter SKHYshort	+0.0032%	1h	193.26	−0.036%	$1.0M	$699K	10x
Lighter RH SKHY	+0.0032%	1h	193.19	−0.072%	$1.1M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	193.25	−0.041%	$57K	$153K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	193.29	−0.021%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	193.33	0.000%	$197K	$258K	20x	as long as short
tradeXYZ xyz:SKHY	+0.0050%	1h	193.26	−0.036%	$163.5M	$66.7M	10x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	193.22	−0.057%	$190K	$454K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	193.13	−0.103%	$43K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	193.39	+0.031%	$541K	$1.7M	10x	as long as short
Coinbase International SKHY-PERP-INTX	+0.0088%	1h	193.24	−0.047%	$54K	$870K	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	193.29	−0.021%	$1.1M	$279K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	193.25	−0.041%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	193.19	−0.072%	$2.2M	$446K	50x	as long as short
Phoenix SKHY	+0.0335%	1h	193.41	+0.041%	$218K	$120K	10x	as long as short
GRVT SKHY_USDT_Perp	+0.0406%	8h	193.39	+0.031%	$23K	$192K	10x	as long as short
Bitget SKHYUSDT	+0.0427%	8h	193.24	−0.047%	$25.6M	$26.9M	20x	as long as short
Kraken Futures PF_SKHYUSD	+0.0708%	1h	193.15	−0.094%	$51K	$17K	20x	as long as short