Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0088%/8h= −9.6% APRpaid last 24h −0.021%

Price spread now: Bybit against Coinbase International+0.213%7-day average −0.111% · you sell dearer than you buy

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$12as in the Price arb table

costs, in and out, $10k−$440.440% of the position

Long on Coinbase International Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.112%+$11 on $10k

Price spread, last 3 days (all we have)−0.187%−$19 · spread now +0.213%, 7d avg −0.111%

Together, before fees−0.074%−$7 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.324% dearer against Coinbase International than usual: you sell high and buy low (spread +0.213% now, against its 7-day average of −0.111%): +$32 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 12 days. Mind the row above: over the last 7 days funding on this pair paid +0.112%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International SKHY-PERP-INTX	192.17	0.0088	pay 0.0011% / 1h	31m 49s	$117K	$803K	10x
Short	Bybit SKHYUSDT	192.58	0	get 0.0000% / 8h	7h 31m	$15.7M	$27.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.213%Rate

Funding earned: −$18.48
Price spread: +0.213% → −0.111%: $32.44
Slippage, 4 orders: −$23.03
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$30.06
Costs to cover: 0.440%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 41 min ago; Bybit: live order book, 2 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, 41 min ago	8.98 bp	15.0 bp −$15	19.4 bp −$194	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	0.52 bp	7.4 bp −$7	15.6 bp −$156	84.3 bp −$8,432	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
edgeX SKHYUSDC	−0.0222%	4h	192.55	+0.196%	$580K	$290K	10x	as long as short
Nado SKHY-PERP	−0.0013%	1h	192.64	+0.247%	$29K	$2K	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	192.36	+0.098%	$247K	$921K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	192.52	+0.182%	$56K	$6K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	192.52	+0.182%	$212.3M	$381.8M	50x	as long as short
Bybit SKHYUSDTshort	0.0000%	8h	192.58	+0.213%	$15.7M	$27.1M	100x
OKX SKHY-USDT-SWAP	0.0000%	8h	192.56	+0.203%	$47.0M	$67.0M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	192.49	+0.167%	$25.9M	$18.1M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	192.66	+0.252%	$1.6M	$2.3M	—	as long as short
SunX SKHY-USDT	0.0000%	8h	192.86	+0.359%	$706	$6.8M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit SKHY_USDC-PERPETUAL	0.0000%	1h	192.61	+0.229%	$47K	$266K	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	192.53	+0.187%	$160K	$385K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	192.56	+0.203%	$1.5M	$1.1M	10x	as long as short
QFEX SKHY-USD	+0.0005%	1h	192.60	+0.224%	$1.2M	$5.0M	10x	as long as short
Lighter SKHY	+0.0032%	1h	192.48	+0.161%	$1.0M	$655K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	192.43	+0.135%	$1.1M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	192.51	+0.177%	$57K	$154K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	192.54	+0.193%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	192.65	+0.250%	$197K	$257K	20x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	192.54	+0.193%	$190K	$454K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	192.56	+0.203%	$567K	$1.7M	10x	as long as short
Coinbase International SKHY-PERP-INTXlong	+0.0088%	1h	192.17	long leg	$117K	$803K	10x
KuCoin SKHYUSDTM	+0.0090%	8h	192.51	+0.177%	$1.1M	$275K	20x	as long as short
Bitget SKHYUSDT	+0.0098%	8h	192.51	+0.177%	$25.6M	$26.5M	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	192.57	+0.208%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	192.34	+0.088%	$2.2M	$425K	50x	as long as short
tradeXYZ xyz:SKHY	+0.0131%	1h	192.47	+0.156%	$165.5M	$63.6M	10x	as long as short
SoDEX SKHY-USD	+0.0138%	1h	192.49	+0.167%	$43K	$13K	10x	as long as short
Phoenix SKHY	+0.0335%	1h	192.93	+0.395%	$218K	$120K	10x	as long as short
GRVT SKHY_USDT_Perp	+0.0423%	8h	192.41	+0.125%	$22K	$197K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0710%	1h	192.74	+0.299%	$51K	$25K	20x	as long as short