Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0068%/8h= −7.4% APRpaid last 24h −0.021%

Price spread now: Lighter against Orderly−0.124%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Lighter is 0.124% cheaper against Orderly than usual: you would sell low and buy high (−$12 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_SKHY_USDC_mythos	192.88	0.0100	pay 0.0100% / 8h	5h 48m	$2K	$4K	10x
Short	Lighter SKHY	192.64	0.0032	get 0.0004% / 1h	48m 58s	$1.0M	$686K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Orderly. 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 OrderlybpFee LighterbpOrdersPrice spread, now −0.124%Rate

Funding earned: −$14.28
Price spread: −0.124% → 0.000%: −$12.44
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Lighter: 0 bp × 2 orders: $0
Net: −$32.72
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Lighter: live order book, 7 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 Orderly no order-book sample	—	—	—	—	—
Sell Lighter live order book, 7 min ago	0.78 bp	1.4 bp −$1	4.5 bp −$45	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

SKHY on 30 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	−0.0107%	4h	193.03	+0.077%	$582K	$290K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0032%	1h	192.90	+0.010%	$45K	$874K	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	192.74	−0.072%	$248K	$890K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	192.69	−0.099%	$56K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	192.66	−0.112%	$208.1M	$385.3M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	192.66	−0.114%	$15.7M	$27.3M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	192.64	−0.124%	$46.8M	$69.1M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	192.69	−0.099%	$25.8M	$18.9M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	193.08	+0.102%	$1.6M	$1.3M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	193.09	+0.109%	$22K	$193K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX SKHY-USDT	0.0000%	8h	193.17	+0.150%	$707	$6.4M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	192.80	−0.041%	$160K	$368K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	192.98	+0.052%	$1.5M	$1.1M	10x	as long as short
QFEX SKHY-USD	+0.0004%	1h	192.85	−0.016%	$1.2M	$4.3M	10x	as long as short
Lighter SKHYshort	+0.0032%	1h	192.64	−0.124%	$1.0M	$686K	10x
Lighter RH SKHY	+0.0032%	1h	192.66	−0.114%	$1.1M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	192.99	+0.057%	$57K	$154K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	192.91	+0.016%	—	$11K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	192.91	+0.016%	$198K	$255K	20x	as long as short
tradeXYZ xyz:SKHY	+0.0050%	1h	192.66	−0.114%	$161.8M	$66.4M	10x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	192.78	−0.052%	$188K	$456K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	192.83	−0.026%	$43K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	192.91	+0.016%	$569K	$2.1M	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	192.75	−0.067%	$1.1M	$290K	20x	as long as short
Orderly PERP_SKHY_USDC_mythoslong	+0.0100%	8h	192.88	long leg	$2K	$4K	10x
Deribit SKHY_USDC-PERPETUAL	+0.0113%	1h	192.86	−0.010%	$48K	$285K	10x	as long as short
Nado SKHY-PERP	+0.0127%	1h	192.85	−0.015%	$38K	$26K	10x	as long as short
Bitget SKHYUSDT	+0.0218%	8h	192.90	+0.010%	$25.6M	$26.4M	20x	as long as short
Phoenix SKHY	+0.0332%	1h	193.23	+0.181%	$216K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0546%	1h	192.97	+0.048%	$51K	$17K	20x	as long as short