Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.010%

Price spread now: Lighter RH against Variational Omni−0.179%7-day average −0.103% · you buy dearer than you sell

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 3 days (all we have)+0.005%+$1 on $10k

Price spread, last 7 days+0.074%+$7 · spread now −0.179%, 7d avg −0.103%

Together, before fees+0.080%+ Points / potential airdropVariational Omni: Active · Lighter RH: Points live · farm board+$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter RH is 0.076% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.179% now, against its 7-day average of −0.103%). If the spread goes back, that is −$8 on $10k: about 7.9 days of funding at the current rate (+$1 a day). At the pace of the last 3 days (+0.005% in total) that is about 49 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni SKHY	192.94	0	get 0.0000% / 8h	6h 37m	$1.6M	$2.2M	—
Short	Lighter RH SKHY	192.59	0.0032	get 0.0004% / 1h	37m 34s	$1.1M	$1.5M	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

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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 −0.179%Rate

Funding earned: $6.72
Price spread: −0.179% → −0.103%: −$7.57
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: −$0.85
Costs to cover: 0.000%
Break-even: 7.9 days

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Lighter RH: live order book, 5 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, 2 min ago	2.23 bp	doesn't fit	5.2 bp −$52	doesn't fit	doesn't fit
Sell Lighter RH live order book, 5 min ago	0.78 bp	1.3 bp −$1	13.1 bp −$131	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	−0.0874%	4h	192.69	−0.125%	$581K	$290K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0072%	1h	192.90	−0.018%	$45K	$874K	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	192.75	−0.097%	$248K	$890K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	192.69	−0.125%	$56K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	192.71	−0.119%	$210.1M	$385.3M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	192.67	−0.137%	$15.6M	$27.2M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	192.65	−0.148%	$46.7M	$69.0M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	192.66	−0.143%	$25.8M	$18.8M	75x	as long as short
Variational Omni SKHYlong	0.0000%	8h	192.94	long leg	$1.6M	$2.2M	—
GRVT SKHY_USDT_Perp	0.0000%	8h	192.71	−0.115%	$22K	$192K	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	193.05	+0.060%	$707	$6.6M	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	0.0000%	1h	192.72	−0.111%	$48K	$270K	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	192.69	−0.127%	$160K	$376K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	192.75	−0.096%	$1.5M	$1.1M	10x	as long as short
QFEX SKHY-USD	+0.0002%	1h	192.64	−0.153%	$1.2M	$4.6M	10x	as long as short
Nado SKHY-PERP	+0.0026%	1h	192.72	−0.113%	$42K	$21K	10x	as long as short
Lighter SKHY	+0.0032%	1h	192.57	−0.189%	$1.0M	$683K	10x	as long as short
Lighter RH SKHYshort	+0.0032%	1h	192.59	−0.179%	$1.1M	$1.5M	10x
Arcus SKHY-USD	+0.0040%	1h	192.77	−0.086%	$57K	$154K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	192.66	−0.143%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	192.66	−0.143%	$197K	$257K	20x	as long as short
tradeXYZ xyz:SKHY	+0.0050%	1h	192.65	−0.148%	$162.7M	$65.3M	10x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	192.55	−0.200%	$188K	$456K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	192.70	−0.122%	$43K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	192.91	−0.013%	$533K	$1.8M	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	192.75	−0.096%	$1.1M	$279K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	192.75	−0.096%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	193.08	+0.075%	$2.3M	$445K	50x	as long as short
Phoenix SKHY	+0.0331%	1h	192.94	+0.003%	$216K	$123K	10x	as long as short
Bitget SKHYUSDT	+0.0353%	8h	192.72	−0.111%	$25.5M	$26.4M	20x	as long as short
Kraken Futures PF_SKHYUSD	+0.0707%	1h	192.81	−0.066%	$51K	$17K	20x	as long as short