Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.007%

Price spread now: Lighter against Variational Omni+0.268%7-day average −0.082% · you sell dearer than you buy

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

Long on Variational Omni Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.002%$0 on $10k

Price spread, last 7 days−0.305%−$30 · spread now +0.268%, 7d avg −0.082%

Together, before fees−0.303%+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm board−$30 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 0.351% dearer against Variational Omni than usual: you sell high and buy low: +$35 more if the spread goes back to its 7-day average of −0.082%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni SKHY	186.05	0	get 0.0000% / 8h	6h 57m	$1.5M	$1.1M	—
Short	Lighter SKHY	186.55	0.0032	get 0.0004% / 1h	57m 02s	$993K	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Variational Omni. 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 Variational OmnibpFee LighterbpOrdersPrice spread, now +0.268%Rate

Funding earned: $6.72
Price spread: +0.268% → −0.082%: $35.06
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: $41.78
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Lighter: live order book, 4 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 Variational Omni RFQ quote, 2 min ago	2.26 bp	doesn't fit	3.8 bp −$38	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	0.54 bp	1.8 bp −$2	13.8 bp −$138	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	−0.0991%	8h	186.73	+0.365%	$25.7M	$35.4M	20x	as long as short
edgeX SKHYUSDC	−0.0405%	4h	186.37	+0.172%	$562K	$289K	10x	as long as short
KuCoin SKHYUSDTM	−0.0184%	8h	186.56	+0.274%	$1.1M	$401K	20x	as long as short
QFEX SKHY-USD	−0.0005%	1h	186.51	+0.247%	$1.2M	$4.3M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	186.57	+0.278%	$266K	$949K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	186.55	+0.269%	$54K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	186.60	+0.293%	$197.5M	$468.4M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	186.66	+0.328%	$16.0M	$33.4M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	186.67	+0.333%	$44.3M	$83.3M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	186.67	+0.333%	$25.6M	$21.3M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SKHYlong	0.0000%	8h	186.05	long leg	$1.5M	$1.1M	—
GRVT SKHY_USDT_Perp	0.0000%	8h	186.06	+0.005%	$22K	$247K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	186.89	+0.451%	$684	$5.7M	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	0.0000%	1h	186.54	+0.263%	$47K	$355K	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	186.54	+0.263%	$155K	$377K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	186.61	+0.301%	$1.5M	$1.1M	10x	as long as short
Nado SKHY-PERP	+0.0011%	1h	186.62	+0.307%	$32K	$28K	10x	as long as short
Lighter SKHYshort	+0.0032%	1h	186.55	+0.268%	$993K	$1.3M	10x
Lighter RH SKHY	+0.0032%	1h	186.53	+0.258%	$1.1M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	186.49	+0.236%	$60K	$173K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	186.53	+0.258%	—	$39K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	186.55	+0.268%	$199K	$299K	20x	as long as short
tradeXYZ xyz:SKHY	+0.0050%	1h	186.66	+0.328%	$158.0M	$78.4M	10x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	186.54	+0.263%	$180K	$451K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	186.48	+0.231%	$514K	$2.6M	10x	as long as short
Coinbase International SKHY-PERP-INTX	+0.0056%	1h	186.08	+0.016%	$110K	$887K	10x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	186.58	+0.285%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	186.57	+0.279%	$2.1M	$461K	50x	as long as short
Phoenix SKHY	+0.0215%	1h	186.25	+0.107%	$209K	$123K	10x	as long as short
SoDEX SKHY-USD	+0.0271%	1h	186.53	+0.258%	$41K	$12K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0755%	1h	186.66	+0.329%	$48K	$20K	20x	as long as short