Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.008%

Price spread now: Deribit against Bybit−0.021%45s7-day average +0.015% · 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−$420.418% of the position

Long on Bybit Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.047%−$5 on $10k

Price spread, last 4 days (all we have)+0.047%+$5 · spread now −0.021%, 7d avg +0.015%

Together, before fees0.000%$0 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Deribit is 0.036% cheaper against Bybit than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.015%. The two prices were read 45 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	186.40	0	get 0.0000% / 8h	16m 29s	$16.6M	$29.4M	100x
Short	Deribit SKHY_USDC-PERPETUAL	186.36	0	get 0.0000% / 1h	16m 29s	$49K	$347K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.021%Rate

Funding earned: $0
Price spread: −0.021% → +0.015%: −$3.62
Slippage, 4 orders: −$23.79
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$45.42
Costs to cover: 0.418%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Deribit: live order book, 22 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, 2 min ago	0.54 bp	8.2 bp −$8	16.8 bp −$168	86.3 bp −$8,632	doesn't fit
Sell Deribit live order book, 22 min ago	6.70 bp	10.2 bp −$10	15.6 bp −$156	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	−0.1244%	8h	186.63	+0.123%	$25.6M	$33.3M	20x	as long as short
edgeX SKHYUSDC	−0.0805%	4h	186.49	+0.049%	$562K	$291K	10x	as long as short
Kraken Futures PF_SKHYUSD	−0.0266%	1h	186.48	+0.043%	$48K	$21K	20x	as long as short
tradeXYZ xyz:SKHY	−0.0168%	1h	186.39	−0.005%	$158.3M	$76.9M	10x	as long as short
Nado SKHY-PERP	−0.0142%	1h	186.36	−0.023%	$33K	$28K	10x	as long as short
Polymarket Perps SKHY-USD	−0.0081%	1h	186.34	−0.032%	$180K	$486K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0072%	1h	187.58	+0.633%	$68K	$803K	10x	as long as short
QFEX SKHY-USD	−0.0061%	1h	186.41	+0.005%	$1.2M	$4.3M	10x	as long as short
Popdex SKHYUSDT	−0.0056%	1h	186.43	+0.016%	$204K	$287K	20x	as long as short
KuCoin SKHYUSDTM	−0.0053%	8h	186.38	−0.011%	$1.1M	$341K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter SKHY	−0.0008%	1h	186.36	−0.021%	$974K	$1.2M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	186.40	0.000%	$223K	$899K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	186.36	−0.020%	$54K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	186.40	0.000%	$200.1M	$452.0M	50x	as long as short
Bybit SKHYUSDTlong	0.0000%	8h	186.40	long leg	$16.6M	$29.4M	100x
OKX SKHY-USDT-SWAP	0.0000%	8h	186.40	0.000%	$44.6M	$79.8M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	186.43	+0.016%	$25.5M	$21.1M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	186.36	−0.020%	$1.6M	$1.0M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	186.56	+0.086%	$22K	$236K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	186.69	+0.156%	$683	$6.1M	10x	as long as short
Deribit SKHY_USDC-PERPETUALshort	0.0000%	1h	186.36	−0.021%	$49K	$347K	10x
HTX SKHY-USDT	0.0000%	8h	186.34	−0.032%	$155K	$363K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	186.41	+0.005%	$1.5M	$1.1M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	186.30	−0.054%	$1.1M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	186.40	0.000%	$60K	$171K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	186.36	−0.021%	—	$32K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0048%	1h	186.40	0.000%	$520K	$2.6M	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	186.39	−0.005%	$41K	$12K	10x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	186.37	−0.016%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	186.38	−0.011%	$2.2M	$426K	50x	as long as short
Phoenix SKHY	+0.0129%	1h	186.63	+0.123%	$209K	$123K	10x	as long as short