Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.010%

Price spread now: Lighter RH against Bybit−0.043%7-day average −0.099% · you buy dearer than you sell

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$210.207% of the position

Long on Bybit Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.004%$0 on $10k

Price spread, last 7 days−0.086%−$9 · spread now −0.043%, 7d avg −0.099%

Together, before fees−0.082%+ Points / potential airdropLighter RH: Points live · farm board−$8 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 0.056% dearer against Bybit than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.099%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SKHYUSDT	187.77	0	get 0.0000% / 8h	5h 43m	$16.5M	$34.3M	100x
Short	Lighter RH SKHY	187.69	0.0032	get 0.0004% / 1h	43m 01s	$1.1M	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Bybit. 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 BybitbpFee Lighter RHbpOrdersPrice spread, now −0.043%Rate

Funding earned: $6.72
Price spread: −0.043% → −0.099%: $5.65
Slippage, 4 orders: −$9.68
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$8.31
Costs to cover: 0.207%
Break-even: 15.7 days

Slippage from Bybit: live order book, 4 min ago; Lighter RH: live order book, 3 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 Bybit live order book, 4 min ago	0.80 bp	8.0 bp −$8	14.8 bp −$148	99.5 bp −$9,947	doesn't fit
Sell Lighter RH live order book, 3 min ago	1.33 bp	1.5 bp −$1	11.2 bp −$112	doesn't fit	doesn't fit

SKHY on 31 exchanges

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	−0.0781%	4h	187.75	−0.013%	$566K	$287K	10x	as long as short
Bitget SKHYUSDT	−0.0541%	8h	187.89	+0.064%	$26.1M	$36.5M	20x	as long as short
Kraken Futures PF_SKHYUSD	−0.0267%	1h	187.39	−0.203%	$51K	$37K	20x	as long as short
Deribit SKHY_USDC-PERPETUAL	−0.0123%	1h	187.69	−0.043%	$42K	$476K	10x	as long as short
KuCoin SKHYUSDTM	−0.0117%	8h	187.84	+0.037%	$1.1M	$478K	20x	as long as short
Nado SKHY-PERP	−0.0085%	1h	187.80	+0.018%	$32K	$28K	10x	as long as short
tradeXYZ xyz:SKHY	−0.0045%	1h	187.74	−0.016%	$158.6M	$78.1M	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0040%	1h	187.65	−0.064%	$110K	$768K	10x	as long as short
QFEX SKHY-USD	−0.0013%	1h	187.75	−0.011%	$1.2M	$4.3M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	187.89	+0.066%	$263K	$913K	50x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended SKHY-USD	0.0000%	1h	187.75	−0.012%	$55K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	187.80	+0.017%	$198.1M	$473.6M	50x	as long as short
Bybit SKHYUSDTlong	0.0000%	8h	187.77	long leg	$16.5M	$34.3M	100x
OKX SKHY-USDT-SWAP	0.0000%	8h	187.82	+0.027%	$44.5M	$85.6M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	187.74	−0.016%	$25.4M	$21.7M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	187.84	+0.036%	$1.5M	$1.1M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	188.11	+0.181%	$23K	$247K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	188.10	+0.176%	$688	$5.5M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	187.78	+0.005%	$155K	$376K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	187.82	+0.027%	$1.5M	$1.1M	10x	as long as short
Lighter SKHY	+0.0032%	1h	187.71	−0.032%	$987K	$1.3M	10x	as long as short
Lighter RH SKHYshort	+0.0032%	1h	187.69	−0.043%	$1.1M	$1.5M	10x
Arcus SKHY-USD	+0.0040%	1h	187.77	0.000%	$60K	$131K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	187.82	+0.027%	—	$39K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	187.83	+0.032%	$203K	$308K	20x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	187.75	−0.011%	$182K	$353K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	187.77	0.000%	$41K	$12K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	187.59	−0.096%	$525K	$2.5M	10x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	187.83	+0.032%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	187.83	+0.032%	$2.2M	$483K	50x	as long as short
Phoenix SKHY	+0.0255%	1h	188.03	+0.138%	$211K	$123K	10x	as long as short