Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.007%

Price spread now: Lighter against OKX−0.022%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−$9as in the Price arb table

costs, in and out, $10k−$150.148% of the position

Long on OKX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.027%−$3 on $10k

Price spread, last 7 days−0.042%−$4 · spread now −0.022%, 7d avg −0.076%

Together, before fees−0.070%+ Points / potential airdropLighter: Season 3 · farm board−$7 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 0.054% dearer against OKX than usual: you sell high and buy low: +$5 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	184.85	0	get 0.0000% / 8h	7h 20m	$43.7M	$81.7M	50x
Short	Lighter SKHY	184.81	0.0032	get 0.0004% / 1h	20m 13s	$982K	$1.3M	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 −0.022%Rate

Funding earned: $6.72
Price spread: −0.022% → −0.076%: $5.44
Slippage, 4 orders: −$4.81
Fee OKX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$2.66
Costs to cover: 0.148%
Break-even: 9.8 days

Slippage from OKX: live order book, 4 min ago; Lighter: live order book, 6 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, 4 min ago	0.27 bp	6.5 bp −$7	8.9 bp −$89	31.2 bp −$3,116	doesn't fit
Sell Lighter live order book, 6 min ago	0.54 bp	1.2 bp −$1	9.7 bp −$97	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	−0.1152%	8h	184.94	+0.049%	$25.4M	$35.1M	20x	as long as short
KuCoin SKHYUSDTM	−0.0246%	8h	184.68	−0.092%	$1.1M	$376K	20x	as long as short
edgeX SKHYUSDC	−0.0224%	4h	184.38	−0.252%	$556K	$290K	10x	as long as short
GRVT SKHY_USDT_Perp	−0.0198%	8h	184.46	−0.211%	$22K	$246K	10x	as long as short
tradeXYZ xyz:SKHY	−0.0052%	1h	184.81	−0.022%	$156.6M	$77.9M	10x	as long as short
Extended SKHY-USD	−0.0048%	1h	184.79	−0.035%	$53K	$7K	10x	as long as short
Binance SKHYUSDT	−0.0047%	8h	184.82	−0.016%	$195.9M	$465.0M	50x	as long as short
Nado SKHY-PERP	−0.0032%	1h	184.88	+0.016%	$32K	$28K	10x	as long as short
QFEX SKHY-USD	−0.0028%	1h	184.84	−0.005%	$1.2M	$4.3M	10x	as long as short
Variational Omni SKHY	−0.0022%	8h	184.84	−0.006%	$1.6M	$1.0M	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster SKHYUSDT	0.0000%	8h	184.64	−0.114%	$265K	$951K	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	184.83	−0.011%	$16.0M	$33.3M	100x	as long as short
OKX SKHY-USDT-SWAPlong	0.0000%	8h	184.85	long leg	$43.7M	$81.7M	50x
Gate SKHY_USDT	0.0000%	8h	184.80	−0.027%	$25.5M	$21.8M	75x	as long as short
SunX SKHY-USDT	0.0000%	8h	185.08	+0.124%	$677	$5.9M	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	0.0000%	1h	184.94	+0.049%	$47K	$354K	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	184.72	−0.070%	$153K	$375K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	184.88	+0.016%	$1.5M	$1.1M	10x	as long as short
Coinbase International SKHY-PERP-INTX	+0.0024%	1h	183.79	−0.573%	$66K	$750K	10x	as long as short
Lighter SKHYshort	+0.0032%	1h	184.81	−0.022%	$982K	$1.3M	10x
Lighter RH SKHY	+0.0032%	1h	184.77	−0.043%	$1.1M	$1.5M	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0039%	1h	184.81	−0.022%	$510K	$2.6M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	184.70	−0.081%	$59K	$173K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	184.74	−0.060%	—	$38K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	184.80	−0.027%	$199K	$295K	20x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	184.75	−0.054%	$179K	$451K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	184.76	−0.049%	$41K	$12K	10x	as long as short
BloFin SKHY-USDT	+0.0067%	8h	184.83	−0.011%	$2.1M	$446K	50x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	184.76	−0.049%	$2K	$4K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0171%	1h	184.94	+0.050%	$48K	$20K	20x	as long as short
Phoenix SKHY	+0.0215%	1h	184.57	−0.151%	$207K	$123K	10x	as long as short