Funding you earn now, next payment 09:00 UTC−0.0225%/8h= −24.7% APRnext payment −$0.28 per $10,000 · paid last 24h −0.083%
Price spread now: Lighter against Phoenix+0.032%7-day average −0.189% · you sell dearer than you buy
Net, funding: paid 7d − costs−$69as in the Funding arb table
Net, price: spread back to 7d avg − costs−$14as in the Price arb table
costs, in and out, $10k−$360.362% of the position
Funding, last 7 days−0.327%−$33 on $10k
+Price spread, last 4 days (all we have)−0.914%−$91 · spread now +0.032%, 7d avg −0.189%
=Together, before fees−1.240%+ Points / potential airdropLighter: Season 3 · farm board−$124 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Lighter is 0.221% dearer against Phoenix than usual: you sell high and buy low (spread +0.032% now, against its 7-day average of −0.189%): +$22 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 3.3 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix SKHY | 188.05 | 0.0257 | pay 0.0032% / 1h | 2m 25s | $211K | $123K | 10x |
| Short | Lighter SKHY | 188.11 | 0.0032 | get 0.0004% / 1h | 2m 25s | $993K | $1.4M | 10x |
Phoenix SKHY
Lighter SKHYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$47.35
- Price spread: +0.032% → −0.189%
- $22.09
- Slippage, 4 orders
- −$29.16
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$61.41
- Costs to cover
- 0.362%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 44 min ago; Lighter: live order book, 2 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 Phoenix live order book, 44 min ago | 3.76 bp | 12.7 bp −$13 | 27.3 bp −$273 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 2 min ago | 0.27 bp | 1.7 bp −$2 | 7.0 bp −$70 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget SKHYUSDT | −0.0642% | 8h | 188.05 | 0.000% | $26.0M | $36.2M | 20x | as long as short |
| Deribit SKHY_USDC-PERPETUAL | −0.0442% | 1h | 187.73 | −0.170% | $24K | $441K | 10x | as long as short |
| edgeX SKHYUSDC | −0.0235% | 4h | 187.79 | −0.139% | $566K | $287K | 10x | as long as short |
| KuCoin SKHYUSDTM | −0.0118% | 8h | 187.92 | −0.069% | $1.1M | $459K | 20x | as long as short |
| Nado SKHY-PERP | −0.0023% | 1h | 188.18 | +0.069% | $33K | $28K | 10x | as long as short |
| QFEX SKHY-USD | −0.0005% | 1h | 188.01 | −0.021% | $1.2M | $4.3M | 10x | as long as short |
| tradeXYZ xyz:SKHY | −0.0001% | 1h | 187.99 | −0.032% | $158.7M | $78.0M | 10x | as long as short |
| Aster SKHYUSDT | 0.0000% | 8h | 188.01 | −0.022% | $264K | $912K | 50x | as long as short |
| Extended SKHY-USD | 0.0000% | 1h | 187.98 | −0.037% | $55K | $7K | 10x | as long as short |
| Binance SKHYUSDT | 0.0000% | 8h | 188.01 | −0.020% | $198.5M | $472.6M | 50x | as long as short |
Bitget SKHYUSDT
Deribit SKHY_USDC-PERPETUAL
edgeX SKHYUSDC
KuCoin SKHYUSDTM
Nado SKHY-PERP
QFEX SKHY-USD
tradeXYZ xyz:SKHY
Aster SKHYUSDT
Extended SKHY-USD
Binance SKHYUSDTShow all 31 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit SKHYUSDT | 0.0000% | 8h | 187.97 | −0.043% | $16.3M | $34.1M | 100x | as long as short |
| OKX SKHY-USDT-SWAP | 0.0000% | 8h | 187.96 | −0.048% | $44.5M | $85.4M | 50x | as long as short |
| Gate SKHY_USDT | 0.0000% | 8h | 187.93 | −0.064% | $25.3M | $22.0M | 75x | as long as short |
| Variational Omni SKHY | 0.0000% | 8h | 187.79 | −0.138% | $1.5M | $1.0M | — | as long as short |
| GRVT SKHY_USDT_Perp | 0.0000% | 8h | 187.58 | −0.250% | $22K | $245K | 10x | as long as short |
| SunX SKHY-USDT | 0.0000% | 8h | 187.96 | −0.048% | $688 | $5.5M | 10x | as long as short |
| HTX SKHY-USDT | 0.0000% | 8h | 188.09 | +0.021% | $155K | $376K | 50x | as long as short |
| Phemex SKHYUSDT | 0.0000% | 8h | 188.15 | +0.053% | $1.5M | $1.1M | 10x | as long as short |
| Lighter SKHYshort | +0.0032% | 1h | 188.11 | +0.032% | $993K | $1.4M | 10x | |
| Lighter RH SKHY | +0.0032% | 1h | 188.01 | −0.021% | $1.1M | $1.5M | 10x | as long as short |
| Arcus SKHY-USD | +0.0040% | 1h | 188.02 | −0.016% | $60K | $131K | 10x | as long as short |
| Vest SKHY-USD-PERP | +0.0046% | 1h | 188.06 | +0.005% | — | $39K | 10x | as long as short |
| Popdex SKHYUSDT | +0.0048% | 1h | 187.94 | −0.058% | $202K | $307K | 20x | as long as short |
| Polymarket Perps SKHY-USD | +0.0050% | 1h | 187.99 | −0.032% | $182K | $352K | 10x | as long as short |
| SoDEX SKHY-USD | +0.0050% | 1h | 187.86 | −0.101% | $42K | $12K | 10x | as long as short |
| Ondo Perps SKHY-USD.P | +0.0050% | 1h | 187.84 | −0.112% | $523K | $2.5M | 10x | as long as short |
| Coinbase International SKHY-PERP-INTX | +0.0056% | 1h | 186.08 | −1.048% | $110K | $772K | 10x | as long as short |
| Orderly PERP_SKHY_USDC_mythos | +0.0100% | 8h | 187.95 | −0.053% | $2K | $4K | 10x | as long as short |
| BloFin SKHY-USDT | +0.0120% | 8h | 188.16 | +0.058% | $2.2M | $460K | 50x | as long as short |
| Phoenix SKHYlong | +0.0257% | 1h | 188.05 | long leg | $211K | $123K | 10x | |
| Kraken Futures PF_SKHYUSD | +0.0751% | 1h | 187.66 | −0.210% | $51K | $36K | 20x | as long as short |
Bybit SKHYUSDT
OKX SKHY-USDT-SWAP
Gate SKHY_USDT
Variational Omni SKHY
GRVT SKHY_USDT_Perp
SunX SKHY-USDT
HTX SKHY-USDT
Phemex SKHYUSDT
Lighter RH SKHY
Arcus SKHY-USD
Vest SKHY-USD-PERP
Popdex SKHYUSDT
Polymarket Perps SKHY-USD
SoDEX SKHY-USD
Ondo Perps SKHY-USD.P
Coinbase International SKHY-PERP-INTX
Orderly PERP_SKHY_USDC_mythos
BloFin SKHY-USDT
Kraken Futures PF_SKHYUSD