Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0024%/8h= +2.6% APRpaid last 24h −0.006%

Price spread now: Gate against Coinbase International−0.496%7-day average −0.138% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$91as in the Price arb table

costs, in and out, $10k−$550.554% of the position

Long on Coinbase International Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.083%+$8 on $10k

Price spread, last 4 days (all we have)+0.455%+$45 · spread now −0.496%, 7d avg −0.138%

Together, before fees+0.538%+$54 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 0.358% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.496% now, against its 7-day average of −0.138%). If the spread goes back, that is −$36 on $10k: about 50 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International SKHY-PERP-INTX	187.36	−0.0024	get 0.0003% / 1h	33m 04s	$47K	$878K	10x
Short	Gate SKHY_USDT	186.43	0	get 0.0000% / 8h	2h 33m	$25.0M	$20.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.496%Rate

Funding earned: $5.04
Price spread: −0.496% → −0.138%: −$35.84
Slippage, 4 orders: −$30.4
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$86.21
Costs to cover: 0.554%
Break-even: 126.7 days

Slippage from Coinbase International: live order book, 15 min ago; Gate: live order book, 1 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, 15 min ago	9.81 bp	15.1 bp −$15	20.5 bp −$205	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	0.80 bp	9.6 bp −$10	29.7 bp −$297	50.1 bp −$5,010	92.5 bp −$46.3K

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	−0.0831%	8h	186.77	−0.315%	$24.6M	$30.2M	20x	as long as short
edgeX SKHYUSDC	−0.0577%	4h	187.37	+0.008%	$565K	$291K	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	−0.0447%	1h	186.48	−0.470%	$48K	$334K	10x	as long as short
Nado SKHY-PERP	−0.0097%	1h	186.84	−0.276%	$33K	$28K	10x	as long as short
tradeXYZ xyz:SKHY	−0.0075%	1h	186.41	−0.507%	$157.4M	$72.5M	10x	as long as short
Polymarket Perps SKHY-USD	−0.0050%	1h	186.56	−0.427%	$187K	$480K	10x	as long as short
Coinbase International SKHY-PERP-INTXlong	−0.0024%	1h	187.36	long leg	$47K	$878K	10x
Lighter SKHY	−0.0016%	1h	186.38	−0.523%	$933K	$947K	10x	as long as short
QFEX SKHY-USD	−0.0014%	1h	186.62	−0.395%	$1.2M	$4.1M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	186.49	−0.466%	$228K	$910K	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended SKHY-USD	0.0000%	1h	186.42	−0.502%	$54K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	186.39	−0.518%	$198.3M	$423.1M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	186.46	−0.480%	$15.4M	$29.6M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	186.38	−0.523%	$44.2M	$74.9M	50x	as long as short
Gate SKHY_USDTshort	0.0000%	8h	186.43	−0.496%	$25.0M	$20.3M	75x
Variational Omni SKHY	0.0000%	8h	187.18	−0.098%	$1.6M	$987K	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	187.28	−0.043%	$22K	$218K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	186.73	−0.336%	$683	$6.2M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	186.49	−0.464%	$155K	$371K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	186.57	−0.422%	$1.5M	$1.1M	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0014%	1h	186.57	−0.422%	$518K	$2.6M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	186.33	−0.550%	$1.0M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	187.11	−0.133%	$58K	$164K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	186.77	−0.315%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	186.66	−0.374%	$191K	$270K	20x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	186.43	−0.496%	$41K	$13K	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	186.64	−0.384%	$1.1M	$318K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	186.48	−0.470%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	186.39	−0.518%	$2.2M	$407K	50x	as long as short
Phoenix SKHY	+0.0254%	1h	187.25	−0.059%	$210K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0262%	1h	186.57	−0.423%	$47K	$19K	20x	as long as short