Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.1045%/8h= −114.4% APRpaid last 24h −0.125%

Price spread now: Bitget against Coinbase International0.000%7-day average −0.124% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$430.427% of the position

Long on Coinbase International Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.003%$0 on $10k

Price spread, last 4 days (all we have)−0.096%−$10 · spread now 0.000%, 7d avg −0.124%

Together, before fees−0.099%−$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.124% dearer against Coinbase International than usual: you sell high and buy low (spread 0.000% now, against its 7-day average of −0.124%): +$12 on $10k if it goes back. Holding the pair costs −$31 a day in funding at the current rate, which eats that in about 9 hours. At the pace of the last 7 days (−0.003% in total) that is about 11 months.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.003% in total (about -0.1% 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	Coinbase International SKHY-PERP-INTX	186.08	0.0024	pay 0.0003% / 1h	0m 52s	$110K	$887K	10x
Short	Bitget SKHYUSDT	186.08	−0.1021	pay 0.1021% / 8h	7h 00m	$25.6M	$35.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Coinbase InternationalbpFee BitgetbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$219.45
Price spread: 0.000% → −0.124%: $12.35
Slippage, 4 orders: −$20.66
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$249.76
Costs to cover: 0.427%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 32 min ago; Bitget: live order book, 3 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 Coinbase International live order book, 32 min ago	7.32 bp	12.4 bp −$12	15.6 bp −$156	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	0.27 bp	9.3 bp −$9	17.8 bp −$178	42.7 bp −$4,267	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 SKHYUSDTshort	−0.1021%	8h	186.08	0.000%	$25.6M	$35.5M	20x
edgeX SKHYUSDC	−0.0459%	4h	186.13	+0.029%	$561K	$291K	10x	as long as short
KuCoin SKHYUSDTM	−0.0193%	8h	186.00	−0.043%	$1.1M	$396K	20x	as long as short
QFEX SKHY-USD	−0.0028%	1h	186.18	+0.054%	$1.2M	$4.3M	10x	as long as short
tradeXYZ xyz:SKHY	−0.0019%	1h	186.01	−0.038%	$157.5M	$78.2M	10x	as long as short
Nado SKHY-PERP	−0.0009%	1h	186.24	+0.085%	$32K	$28K	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	186.02	−0.033%	$266K	$949K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	185.96	−0.065%	$54K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	186.04	−0.021%	$197.1M	$467.5M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	186.07	−0.005%	$16.0M	$33.4M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX SKHY-USDT-SWAP	0.0000%	8h	186.08	0.000%	$44.2M	$82.9M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	186.01	−0.038%	$25.5M	$22.2M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	186.05	−0.016%	$1.5M	$1.1M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	186.07	−0.008%	$22K	$247K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	186.50	+0.226%	$683	$5.8M	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	0.0000%	1h	186.17	+0.048%	$47K	$355K	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	186.19	+0.059%	$154K	$377K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	186.13	+0.027%	$1.5M	$1.1M	10x	as long as short
Coinbase International SKHY-PERP-INTXlong	+0.0024%	1h	186.08	long leg	$110K	$887K	10x
Lighter SKHY	+0.0032%	1h	186.07	−0.005%	$990K	$1.3M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	186.06	−0.011%	$1.1M	$1.6M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	186.18	+0.054%	$59K	$173K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	186.11	+0.016%	—	$39K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	186.21	+0.070%	$199K	$298K	20x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	186.17	+0.048%	$180K	$451K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	185.78	−0.161%	$514K	$2.6M	10x	as long as short
SoDEX SKHY-USD	+0.0075%	1h	186.12	+0.021%	$41K	$12K	10x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	186.11	+0.016%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	186.13	+0.027%	$2.1M	$458K	50x	as long as short
Kraken Futures PF_SKHYUSD	+0.0170%	1h	186.23	+0.081%	$48K	$20K	20x	as long as short
Phoenix SKHY	+0.0215%	1h	186.12	+0.021%	$208K	$123K	10x	as long as short