Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h +0.003%

Price spread now: Coinbase International against Bybit+0.091%54s7-day average +0.117% · you sell dearer than you buy

Net, funding: paid 7d − costs−$56as in the Funding arb table

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

costs, in and out, $10k−$460.457% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.104%−$10 on $10k

Price spread, last 4 days (all we have)−0.080%−$8 · spread now +0.091%, 7d avg +0.117%

Together, before fees−0.184%−$18 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Coinbase International is 0.026% cheaper against Bybit than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.117%). Swap the legs. The two prices were read 54 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	Bybit SKHYUSDT	187.58	0	get 0.0000% / 8h	1h 49m	$15.9M	$30.1M	100x
Short	Coinbase International SKHY-PERP-INTX	187.75	−0.0104	pay 0.0013% / 1h	49m 20s	$63K	$902K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bybit. 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 BybitbpFee Coinbase InternationalbpOrdersPrice spread, now +0.091%Rate

Funding earned: −$21.84
Price spread: +0.091% → +0.117%: −$2.62
Slippage, 4 orders: −$24.75
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$70.21
Costs to cover: 0.457%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Coinbase International: live order book, 59 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 Bybit live order book, 4 min ago	0.27 bp	7.5 bp −$8	14.9 bp −$149	84.6 bp −$8,465	doesn't fit
Sell Coinbase International live order book, 59 min ago	9.81 bp	14.8 bp −$15	17.7 bp −$177	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	−0.1065%	8h	187.72	+0.075%	$25.1M	$31.6M	20x	as long as short
edgeX SKHYUSDC	−0.0625%	4h	187.40	−0.096%	$565K	$291K	10x	as long as short
Nado SKHY-PERP	−0.0176%	1h	187.54	−0.020%	$33K	$28K	10x	as long as short
tradeXYZ xyz:SKHY	−0.0165%	1h	187.61	+0.016%	$159.2M	$74.1M	10x	as long as short
Polymarket Perps SKHY-USD	−0.0140%	1h	187.55	−0.016%	$181K	$487K	10x	as long as short
Kraken Futures PF_SKHYUSD	−0.0138%	1h	187.83	+0.131%	$47K	$19K	20x	as long as short
Deribit SKHY_USDC-PERPETUAL	−0.0123%	1h	187.84	+0.139%	$48K	$337K	10x	as long as short
Coinbase International SKHY-PERP-INTXshort	−0.0104%	1h	187.75	+0.091%	$63K	$902K	10x
Lighter SKHY	−0.0096%	1h	187.61	+0.016%	$947K	$1.1M	10x	as long as short
Popdex SKHYUSDT	−0.0080%	1h	187.66	+0.043%	$197K	$274K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX SKHY-USD	−0.0049%	1h	187.65	+0.037%	$1.2M	$4.1M	10x	as long as short
Ondo Perps SKHY-USD.P	−0.0005%	1h	187.30	−0.149%	$516K	$2.6M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	187.59	+0.008%	$227K	$916K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	187.65	+0.037%	$55K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	187.57	−0.008%	$200.7M	$435.7M	50x	as long as short
Bybit SKHYUSDTlong	0.0000%	8h	187.58	long leg	$15.9M	$30.1M	100x
OKX SKHY-USDT-SWAP	0.0000%	8h	187.50	−0.043%	$44.8M	$77.7M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	187.59	+0.005%	$25.4M	$20.1M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	187.49	−0.046%	$1.6M	$1.0M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	187.56	−0.011%	$22K	$227K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	188.11	+0.283%	$688	$6.1M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	187.69	+0.059%	$156K	$369K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	187.82	+0.128%	$1.5M	$1.1M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	187.61	+0.016%	$1.1M	$1.6M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	187.56	−0.011%	$58K	$164K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	187.73	+0.080%	—	$23K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	187.66	+0.043%	$41K	$13K	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	187.63	+0.027%	$1.1M	$326K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	187.59	+0.005%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	187.51	−0.037%	$2.2M	$420K	50x	as long as short
Phoenix SKHY	+0.0213%	1h	187.59	+0.005%	$210K	$115K	10x	as long as short