Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0204%/8h= −22.3% APRpaid last 24h +0.010%

Price spread now: Coinbase International against Bitget−0.259%7-day average +0.102% · you buy dearer than you sell

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$400.398% of the position

Long on Bitget Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.124%−$12 on $10k

Price spread, last 4 days (all we have)+0.387%+$39 · spread now −0.259%, 7d avg +0.102%

Together, before fees+0.263%+$26 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Coinbase International is 0.360% cheaper against Bitget than usual: you would sell low and buy high (−$36 if the spread goes back to its 7-day average of +0.102%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.124% in total (about -6.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SKHYUSDT	193.34	0.0156	pay 0.0156% / 8h	4h 22m	$25.3M	$26.9M	20x
Short	Coinbase International SKHY-PERP-INTX	192.84	−0.0048	pay 0.0006% / 1h	22m 08s	$45K	$861K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bitget. 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 BitgetbpFee Coinbase InternationalbpOrdersPrice spread, now −0.259%Rate

Funding earned: −$42.84
Price spread: −0.259% → +0.102%: −$36.02
Slippage, 4 orders: −$17.84
Fee Bitget: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$118.71
Costs to cover: 0.398%
Break-even: never at this rate

Slippage from Bitget: live order book, 2 min ago; Coinbase International: live order book, 36 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 Bitget live order book, 2 min ago	0.26 bp	8.3 bp −$8	15.1 bp −$151	20.2 bp −$2,018	36.0 bp −$18.0K
Sell Coinbase International live order book, 36 min ago	5.95 bp	11.9 bp −$12	15.2 bp −$152	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
edgeX SKHYUSDC	−0.0607%	4h	193.13	−0.107%	$582K	$290K	10x	as long as short
Coinbase International SKHY-PERP-INTXshort	−0.0048%	1h	192.84	−0.259%	$45K	$861K	10x
Aster SKHYUSDT	0.0000%	8h	193.30	−0.021%	$249K	$889K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	193.33	−0.003%	$56K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	193.43	+0.047%	$204.7M	$393.4M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	193.41	+0.036%	$15.8M	$27.6M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	193.41	+0.036%	$46.9M	$70.2M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	193.35	+0.005%	$25.9M	$18.9M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	193.10	−0.125%	$1.6M	$1.1M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	193.21	−0.065%	$23K	$203K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX SKHY-USDT	0.0000%	8h	193.68	+0.176%	$709	$6.2M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	193.26	−0.041%	$161K	$370K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	193.41	+0.036%	$1.5M	$1.1M	10x	as long as short
QFEX SKHY-USD	+0.0015%	1h	193.32	−0.010%	$1.2M	$4.0M	10x	as long as short
Lighter SKHY	+0.0032%	1h	193.25	−0.047%	$1.0M	$688K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	193.24	−0.052%	$1.1M	$1.6M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	193.17	−0.088%	$57K	$154K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	193.27	−0.036%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	193.38	+0.021%	$202K	$256K	20x	as long as short
tradeXYZ xyz:SKHY	+0.0050%	1h	193.27	−0.036%	$161.7M	$67.8M	10x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	193.26	−0.041%	$189K	$456K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	193.34	0.000%	$43K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	193.07	−0.140%	$588K	$2.4M	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	193.30	−0.021%	$1.1M	$311K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	193.36	+0.010%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	193.28	−0.031%	$2.2M	$438K	50x	as long as short
Nado SKHY-PERP	+0.0145%	1h	193.26	−0.042%	$38K	$26K	10x	as long as short
Bitget SKHYUSDTlong	+0.0156%	8h	193.34	long leg	$25.3M	$26.9M	20x
Deribit SKHY_USDC-PERPETUAL	+0.0216%	1h	193.36	+0.010%	$49K	$320K	10x	as long as short
Phoenix SKHY	+0.0372%	1h	193.37	+0.016%	$217K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.1056%	1h	193.44	+0.051%	$49K	$19K	20x	as long as short