Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.010%

Price spread now: Variational Omni against Lighter RH−0.021%7-day average +0.104% · you buy dearer than you sell

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

Long on Lighter RH Short on Variational Omni

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+0.127%+$13 · spread now −0.021%, 7d avg +0.104%

Together, before fees+0.120%+ Points / potential airdropLighter RH: Points live · Variational Omni: Active · farm board+$12 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Variational Omni is 0.124% cheaper against Lighter RH than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.104%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH SKHY	186.16	0.0032	pay 0.0004% / 1h	6m 05s	$1.1M	$1.5M	10x
Short	Variational Omni SKHY	186.12	0	get 0.0000% / 8h	6m 05s	$1.6M	$1.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Lighter RH. 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 Lighter RHbpFee Variational OmnibpOrdersPrice spread, now −0.021%Rate

Funding earned: −$6.72
Price spread: −0.021% → +0.104%: −$12.44
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$19.16
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Lighter RH: live order book, 2 min ago; Variational Omni: RFQ quote, 3 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 Lighter RH live order book, 2 min ago	1.61 bp	2.2 bp −$2	8.5 bp −$85	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	2.26 bp	doesn't fit	6.6 bp −$66	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	−0.1248%	8h	186.46	+0.161%	$25.6M	$33.5M	20x	as long as short
Kraken Futures PF_SKHYUSD	−0.0266%	1h	186.33	+0.090%	$48K	$21K	20x	as long as short
tradeXYZ xyz:SKHY	−0.0126%	1h	186.21	+0.027%	$158.1M	$76.8M	10x	as long as short
Nado SKHY-PERP	−0.0117%	1h	186.29	+0.072%	$33K	$28K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0072%	1h	187.58	+0.763%	$68K	$791K	10x	as long as short
QFEX SKHY-USD	−0.0061%	1h	186.23	+0.038%	$1.2M	$4.3M	10x	as long as short
KuCoin SKHYUSDTM	−0.0058%	8h	186.18	+0.011%	$1.1M	$350K	20x	as long as short
Polymarket Perps SKHY-USD	−0.0040%	1h	186.17	+0.005%	$180K	$486K	10x	as long as short
edgeX SKHYUSDC	−0.0018%	4h	186.11	−0.024%	$561K	$290K	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	186.27	+0.059%	$225K	$899K	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended SKHY-USD	0.0000%	1h	186.17	+0.004%	$54K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	186.20	+0.024%	$199.7M	$453.0M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	186.23	+0.038%	$16.6M	$29.5M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	186.22	+0.032%	$44.5M	$80.2M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	186.21	+0.027%	$25.5M	$21.2M	75x	as long as short
Variational Omni SKHYshort	0.0000%	8h	186.12	−0.021%	$1.6M	$1.1M	—
GRVT SKHY_USDT_Perp	0.0000%	8h	186.15	−0.005%	$22K	$238K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	186.47	+0.167%	$682	$6.0M	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	0.0000%	1h	186.26	+0.054%	$49K	$348K	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	186.19	+0.016%	$154K	$363K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	186.24	+0.043%	$1.5M	$1.1M	10x	as long as short
Popdex SKHYUSDT	+0.0008%	1h	186.23	+0.038%	$204K	$287K	20x	as long as short
Lighter SKHY	+0.0016%	1h	186.15	−0.005%	$972K	$1.2M	10x	as long as short
Lighter RH SKHYlong	+0.0032%	1h	186.16	long leg	$1.1M	$1.5M	10x
Arcus SKHY-USD	+0.0040%	1h	186.18	+0.011%	$60K	$171K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	186.16	0.000%	—	$32K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	186.20	+0.021%	$41K	$12K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	186.05	−0.059%	$520K	$2.6M	10x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	186.23	+0.038%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	186.17	+0.005%	$2.2M	$426K	50x	as long as short
Phoenix SKHY	+0.0129%	1h	186.40	+0.129%	$209K	$123K	10x	as long as short