Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h +0.028%

Price spread now: BloFin against Coinbase International−0.005%58s7-day average −0.112% · you buy dearer than you sell

Net, funding: paid 7d − costs−$5as 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−$380.376% of the position

Long on Coinbase International Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.323%+$32 on $10k

Price spread, last 3 days (all we have)−0.053%−$5 · spread now −0.005%, 7d avg −0.112%

Together, before fees+0.270%+$27 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.106% dearer against Coinbase International than usual: you sell high and buy low (spread −0.005% now, against its 7-day average of −0.112%): +$11 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 3.0 days. Mind the row above: over the last 7 days funding on this pair paid +0.323%, so the current rate has only just turned against you. The two prices were read 58 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	Coinbase International SKHY-PERP-INTX	188.78	0.0240	pay 0.0030% / 1h	47m 30s	$168K	$687K	10x
Short	BloFin SKHY-USDT	188.77	0.0120	get 0.0120% / 8h	1h 47m	$2.2M	$432K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Coinbase International. 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 Coinbase InternationalbpFee BloFinbpOrdersPrice spread, now −0.005%Rate

Funding earned: −$25.2
Price spread: −0.005% → −0.112%: $10.64
Slippage, 4 orders: −$15.6
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$52.15
Costs to cover: 0.376%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 36 min ago; BloFin: live order book, 5 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, 36 min ago	6.37 bp	12.6 bp −$13	23.1 bp −$231	doesn't fit	doesn't fit
Sell BloFin live order book, 5 min ago	0.53 bp	6.5 bp −$7	7.7 bp −$77	18.3 bp −$1,828	46.1 bp −$23.1K

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	−0.0503%	4h	188.74	−0.019%	$569K	$290K	10x	as long as short
KuCoin SKHYUSDTM	−0.0024%	8h	188.67	−0.058%	$1.1M	$317K	20x	as long as short
Nado SKHY-PERP	−0.0007%	1h	188.73	−0.025%	$28K	$2K	10x	as long as short
QFEX SKHY-USD	−0.0001%	1h	188.74	−0.021%	$1.2M	$5.2M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	188.69	−0.046%	$250K	$901K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	188.72	−0.034%	$55K	$4K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	188.75	−0.016%	$211.5M	$378.8M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	188.77	−0.005%	$15.8M	$26.4M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	188.72	−0.032%	$46.8M	$60.7M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	188.72	−0.032%	$26.0M	$17.7M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SKHYUSDT	0.0000%	8h	188.74	−0.021%	$25.3M	$25.1M	20x	as long as short
Variational Omni SKHY	0.0000%	8h	188.76	−0.011%	$1.5M	$2.5M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	188.76	−0.011%	$22K	$216K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	189.01	+0.122%	$692	$7.3M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	188.65	−0.069%	$155K	$399K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	188.73	−0.026%	$1.5M	$1.1M	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	+0.0015%	1h	188.75	−0.016%	$45K	$228K	10x	as long as short
Lighter SKHY	+0.0032%	1h	188.68	−0.053%	$1.0M	$711K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	188.65	−0.069%	$1.1M	$1.4M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	188.75	−0.016%	$56K	$156K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	188.71	−0.037%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	188.75	−0.016%	$202K	$241K	20x	as long as short
tradeXYZ xyz:SKHY	+0.0050%	1h	188.68	−0.053%	$164.4M	$65.0M	10x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	188.64	−0.074%	$186K	$923K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	188.71	−0.037%	$42K	$12K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	188.67	−0.058%	$522K	$941K	10x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	188.75	−0.016%	$2K	$5K	10x	as long as short
BloFin SKHY-USDTshort	+0.0120%	8h	188.77	−0.005%	$2.2M	$432K	50x
Coinbase International SKHY-PERP-INTXlong	+0.0240%	1h	188.78	long leg	$168K	$687K	10x
Phoenix SKHY	+0.0297%	1h	188.95	+0.090%	$213K	$128K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0872%	1h	188.81	+0.016%	$50K	$24K	20x	as long as short