Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0072%/8h= +7.9% APRpaid last 24h −0.001%

Price spread now: GRVT against Coinbase International−0.544%76s7-day average −0.124% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as 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−$370.373% of the position

Long on Coinbase International Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.100%+$10 on $10k

Price spread, last 4 days (all we have)+0.600%+$60 · spread now −0.544%, 7d avg −0.124%

Together, before fees+0.699%+ Points / potential airdropGRVT: Active · farm board+$70 on $10k · with fees, hour by hour

Funding pays, the price is against you. GRVT is 0.419% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.544% now, against its 7-day average of −0.124%). If the spread goes back, that is −$42 on $10k: about 19 days of funding at the current rate (+$2 a day). The two prices were read 76 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	187.58	−0.0072	get 0.0009% / 1h	15m 48s	$68K	$803K	10x
Short	GRVT SKHY_USDT_Perp	186.56	0	get 0.0000% / 8h	15m 48s	$22K	$236K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.544%Rate

Funding earned: $15.12
Price spread: −0.544% → −0.124%: −$41.93
Slippage, 4 orders: −$18.33
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$64.14
Costs to cover: 0.373%
Break-even: 36.7 days

Slippage from Coinbase International: live order book, 23 min ago; GRVT: live order book, 22 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, 23 min ago	5.89 bp	12.1 bp −$12	18.2 bp −$182	doesn't fit	doesn't fit
Sell GRVT live order book, 22 min ago	0.54 bp	7.2 bp −$7	11.4 bp −$114	doesn't fit	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 SKHYUSDT	−0.1244%	8h	186.59	−0.528%	$25.6M	$33.4M	20x	as long as short
edgeX SKHYUSDC	−0.0805%	4h	186.49	−0.581%	$562K	$291K	10x	as long as short
Kraken Futures PF_SKHYUSD	−0.0266%	1h	186.42	−0.618%	$48K	$21K	20x	as long as short
tradeXYZ xyz:SKHY	−0.0165%	1h	186.31	−0.677%	$158.2M	$76.9M	10x	as long as short
Nado SKHY-PERP	−0.0142%	1h	186.36	−0.652%	$33K	$28K	10x	as long as short
Polymarket Perps SKHY-USD	−0.0081%	1h	186.34	−0.661%	$180K	$486K	10x	as long as short
Coinbase International SKHY-PERP-INTXlong	−0.0072%	1h	187.58	long leg	$68K	$803K	10x
QFEX SKHY-USD	−0.0061%	1h	186.41	−0.624%	$1.2M	$4.3M	10x	as long as short
Popdex SKHYUSDT	−0.0056%	1h	186.43	−0.613%	$204K	$287K	20x	as long as short
KuCoin SKHYUSDTM	−0.0053%	8h	186.38	−0.640%	$1.1M	$342K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter SKHY	−0.0008%	1h	186.27	−0.698%	$973K	$1.2M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	186.41	−0.625%	$223K	$899K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	186.34	−0.658%	$54K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	186.35	−0.654%	$200.1M	$452.0M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	186.37	−0.645%	$16.6M	$29.4M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	186.29	−0.688%	$44.6M	$79.8M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	186.30	−0.682%	$25.5M	$21.1M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	186.36	−0.652%	$1.6M	$1.1M	—	as long as short
GRVT SKHY_USDT_Perpshort	0.0000%	8h	186.56	−0.544%	$22K	$236K	10x
SunX SKHY-USDT	0.0000%	8h	186.70	−0.469%	$683	$6.1M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	186.32	−0.672%	$155K	$363K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	186.36	−0.650%	$1.5M	$1.1M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	186.27	−0.698%	$1.1M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	186.40	−0.629%	$60K	$171K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	186.36	−0.650%	—	$32K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0048%	1h	186.40	−0.629%	$520K	$2.6M	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	186.34	−0.661%	$41K	$12K	10x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	186.40	−0.629%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	186.38	−0.640%	$2.2M	$426K	50x	as long as short
Phoenix SKHY	+0.0129%	1h	186.63	−0.506%	$209K	$123K	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	+0.0179%	1h	186.42	−0.618%	$49K	$347K	10x	as long as short