Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0048%/8h= +5.3% APRpaid last 24h −0.010%

Price spread now: OKX against Coinbase International+0.067%7-day average −0.114% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$340.338% of the position

Long on Coinbase International Short on OKX

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)−0.241%−$24 · spread now +0.067%, 7d avg −0.114%

Together, before fees−0.129%−$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and OKX is 0.181% dearer against Coinbase International than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of −0.114%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International SKHY-PERP-INTX	192.84	−0.0048	get 0.0006% / 1h	39m 05s	$45K	$861K	10x
Short	OKX SKHY-USDT-SWAP	192.97	0	get 0.0000% / 8h	4h 39m	$46.6M	$69.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.067%Rate

Funding earned: $10.08
Price spread: +0.067% → −0.114%: $18.13
Slippage, 4 orders: −$13.78
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$5.57
Costs to cover: 0.338%
Break-even: 10.9 days

Slippage from Coinbase International: live order book, 19 min ago; OKX: 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, 19 min ago	5.95 bp	11.1 bp −$11	15.6 bp −$156	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	0.26 bp	5.3 bp −$5	7.1 bp −$71	29.7 bp −$2,975	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	−0.0255%	4h	193.02	+0.095%	$582K	$289K	10x	as long as short
Coinbase International SKHY-PERP-INTXlong	−0.0048%	1h	192.84	long leg	$45K	$861K	10x
Aster SKHYUSDT	0.0000%	8h	193.01	+0.087%	$249K	$889K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	192.97	+0.065%	$56K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	193.00	+0.083%	$204.3M	$392.5M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	193.02	+0.093%	$15.7M	$27.5M	100x	as long as short
OKX SKHY-USDT-SWAPshort	0.0000%	8h	192.97	+0.067%	$46.6M	$69.8M	50x
Gate SKHY_USDT	0.0000%	8h	192.93	+0.047%	$25.8M	$18.8M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	193.09	+0.129%	$1.6M	$1.1M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	193.09	+0.129%	$22K	$201K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX SKHY-USDT	0.0000%	8h	193.26	+0.218%	$707	$6.3M	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	0.0000%	1h	193.04	+0.104%	$49K	$314K	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	192.95	+0.057%	$161K	$367K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	192.99	+0.078%	$1.5M	$1.1M	10x	as long as short
QFEX SKHY-USD	+0.0015%	1h	192.94	+0.052%	$1.2M	$4.2M	10x	as long as short
Lighter SKHY	+0.0032%	1h	192.91	+0.036%	$1.0M	$684K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	192.89	+0.026%	$1.1M	$1.6M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	192.96	+0.062%	$57K	$154K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	192.97	+0.067%	—	$12K	10x	as long as short
tradeXYZ xyz:SKHY	+0.0048%	1h	192.90	+0.031%	$161.4M	$67.7M	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	193.01	+0.088%	$201K	$255K	20x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	192.89	+0.026%	$189K	$456K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	192.96	+0.062%	$43K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	193.03	+0.099%	$573K	$2.3M	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	192.96	+0.062%	$1.1M	$303K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	193.02	+0.093%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	192.98	+0.073%	$2.2M	$437K	50x	as long as short
Nado SKHY-PERP	+0.0139%	1h	192.94	+0.054%	$38K	$26K	10x	as long as short
Bitget SKHYUSDT	+0.0163%	8h	193.05	+0.109%	$25.3M	$26.8M	20x	as long as short
Phoenix SKHY	+0.0372%	1h	193.10	+0.135%	$216K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.1058%	1h	193.09	+0.129%	$50K	$18K	20x	as long as short