Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0010%/8h= +1.1% APRpaid last 24h −0.006%

Price spread now: Deribit against Bitget−0.010%48s7-day average +0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$450.448% of the position

Long on Bitget Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.016%−$2 on $10k

Price spread, last 4 days (all we have)−0.019%−$2 · spread now −0.010%, 7d avg +0.013%

Together, before fees−0.035%−$3 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.023% cheaper against Bitget than usual: you would sell low and buy high (spread −0.010% now, against its 7-day average of +0.013%). If the spread goes back, that is −$2 on $10k: about 7.6 days of funding at the current rate ($0 a day). The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SKHYUSDT	193.23	0.0154	pay 0.0154% / 8h	4h 23m	$25.3M	$26.9M	20x
Short	Deribit SKHY_USDC-PERPETUAL	193.21	0.0164	get 0.0021% / 1h	23m 30s	$49K	$319K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.010%Rate

Funding earned: $2.15
Price spread: −0.010% → +0.013%: −$2.33
Slippage, 4 orders: −$25.76
Fee Bitget: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$44.94
Costs to cover: 0.448%
Break-even: 153.4 days

Slippage from Bitget: live order book, 5 min ago; Deribit: live order book, 35 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, 5 min ago	0.26 bp	8.1 bp −$8	14.1 bp −$141	25.4 bp −$2,543	42.6 bp −$21.3K
Sell Deribit live order book, 35 min ago	4.40 bp	15.5 bp −$15	19.6 bp −$196	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	−0.050%	$582K	$290K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0048%	1h	192.84	−0.202%	$45K	$861K	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	193.19	−0.022%	$249K	$889K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	193.21	−0.010%	$56K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	193.29	+0.031%	$204.5M	$393.2M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	193.31	+0.041%	$15.8M	$27.6M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	193.27	+0.021%	$46.9M	$70.2M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	193.20	−0.016%	$25.8M	$18.9M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	193.10	−0.068%	$1.6M	$1.1M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	193.21	−0.008%	$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	193.50	+0.140%	$708	$6.2M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	193.10	−0.067%	$161K	$370K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	193.22	−0.005%	$1.5M	$1.1M	10x	as long as short
QFEX SKHY-USD	+0.0015%	1h	193.24	+0.005%	$1.2M	$4.0M	10x	as long as short
Lighter SKHY	+0.0032%	1h	193.10	−0.067%	$1.0M	$688K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	193.11	−0.062%	$1.1M	$1.6M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	193.13	−0.052%	$57K	$154K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	193.21	−0.010%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	193.30	+0.036%	$202K	$256K	20x	as long as short
tradeXYZ xyz:SKHY	+0.0050%	1h	193.18	−0.026%	$161.6M	$67.7M	10x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	193.19	−0.021%	$189K	$456K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	193.16	−0.036%	$43K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	193.07	−0.083%	$588K	$2.4M	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	193.17	−0.031%	$1.1M	$310K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	193.20	−0.016%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	193.21	−0.010%	$2.2M	$438K	50x	as long as short
Nado SKHY-PERP	+0.0144%	1h	193.17	−0.031%	$38K	$26K	10x	as long as short
Bitget SKHYUSDTlong	+0.0154%	8h	193.23	long leg	$25.3M	$26.9M	20x
Deribit SKHY_USDC-PERPETUALshort	+0.0164%	1h	193.21	−0.010%	$49K	$319K	10x
Phoenix SKHY	+0.0372%	1h	193.37	+0.072%	$217K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.1057%	1h	193.28	+0.025%	$49K	$19K	20x	as long as short