Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1058%/8h= +115.8% APRpaid last 24h +0.165%

Price spread now: Kraken Futures against Bybit+0.056%55s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.680%+$68 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$32 a day on $10k at the current rate, and Kraken Futures is 0.056% dearer against Bybit than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.680% in total (about 35.5% 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	Bybit SKHYUSDT	193.06	0	get 0.0000% / 8h	4h 12m	$15.7M	$27.7M	100x
Short	Kraken Futures PF_SKHYUSD	193.17	0.1058	get 0.0132% / 1h	12m 21s	$49K	$19K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.056%Rate

Funding earned: $222.11
Price spread: +0.056% → 0.000%: $5.62
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $206.73
Costs to cover: 0.210%
Break-even: 0.5 days

Slippage unknown: Bybit: live order book, 1 min ago; Kraken Futures: no order-book sample. Net counts fees only.

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, 1 min ago	0.26 bp	7.1 bp −$7	13.2 bp −$132	77.2 bp −$7,715	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0839%	4h	192.88	−0.092%	$581K	$292K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0048%	1h	192.84	−0.114%	$45K	$861K	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	193.05	−0.004%	$249K	$889K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	193.00	−0.031%	$56K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	193.05	−0.006%	$203.9M	$394.2M	50x	as long as short
Bybit SKHYUSDTlong	0.0000%	8h	193.06	long leg	$15.7M	$27.7M	100x
OKX SKHY-USDT-SWAP	0.0000%	8h	193.03	−0.016%	$46.8M	$70.1M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	192.99	−0.036%	$25.8M	$18.9M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	192.91	−0.077%	$1.6M	$1.1M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	192.92	−0.073%	$23K	$205K	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	193.39	+0.171%	$708	$6.2M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	193.07	+0.005%	$161K	$369K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	193.10	+0.021%	$1.5M	$1.1M	10x	as long as short
QFEX SKHY-USD	+0.0015%	1h	193.03	−0.016%	$1.2M	$4.0M	10x	as long as short
Lighter SKHY	+0.0032%	1h	192.94	−0.062%	$1.0M	$698K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	192.93	−0.067%	$1.1M	$1.6M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	193.03	−0.016%	$60K	$161K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	193.02	−0.021%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	193.07	+0.005%	$202K	$256K	20x	as long as short
tradeXYZ xyz:SKHY	+0.0050%	1h	192.95	−0.057%	$161.3M	$67.9M	10x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	192.95	−0.057%	$189K	$456K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	193.01	−0.026%	$43K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	192.90	−0.083%	$582K	$2.4M	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	193.02	−0.021%	$1.1M	$316K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	193.05	−0.005%	$2K	$4K	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	+0.0113%	1h	193.07	+0.005%	$49K	$322K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	193.09	+0.016%	$2.3M	$438K	50x	as long as short
Bitget SKHYUSDT	+0.0141%	8h	193.10	+0.021%	$25.2M	$26.9M	20x	as long as short
Nado SKHY-PERP	+0.0151%	1h	193.03	−0.014%	$38K	$26K	10x	as long as short
Phoenix SKHY	+0.0372%	1h	193.37	+0.161%	$217K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSDshort	+0.1058%	1h	193.17	+0.056%	$49K	$19K	20x