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I made a bet with my dad that there is no such thing as a 1988 mustang cobra, because the svt cobra first started in 1993, I just wanted to make sure I'm right about this. So, is there a such thing as a 1988 mustang cobra?
Yes and No.
Yes Ford called the Mustang GT that was sold in Canada a Mustang Cobra but no they where not SVT cars
This is exactly right. Ford used the Cobra nameplate on Canadian market GT's to retain the trademark on the name. If a company doesn't use a name, after a certain time they lose the rights to it. It happened to Ford with the GT40. That's why the new car is just GT. There is no difference between a Canadian Cobra and the same year US GT except the badge.