Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h −0.003%

Price spread now: SunX against Coinbase International−0.463%7-day average +0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$135as in the Funding arb table

Net, price: spread back to 7d avg − costs−$192as in the Price arb table

costs, in and out, $10k−$1431.430% of the position

Long on Coinbase International Short on SunX

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)+0.634%+$63 · spread now −0.463%, 7d avg +0.025%

Together, before fees+0.717%+$72 on $10k · with fees, hour by hour

Funding pays, the price is against you. SunX is 0.488% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.463% now, against its 7-day average of +0.025%). If the spread goes back, that is −$49 on $10k: about 16 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.083% in total) that is about 41 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International SKHY-PERP-INTX	187.75	−0.0104	get 0.0013% / 1h	23m 39s	$63K	$901K	10x
Short	SunX SKHY-USDT	186.88	0	get 0.0000% / 8h	1h 23m	$684	$6.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.463%Rate

Funding earned: $21.84
Price spread: −0.463% → +0.025%: −$48.83
Slippage, 4 orders: −$125.02
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$170
Costs to cover: 1.430%
Break-even: 61.5 days

Slippage from Coinbase International: live order book, 20 min ago; SunX: 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, 20 min ago	5.89 bp	11.3 bp −$11	18.6 bp −$186	doesn't fit	doesn't fit
Sell SunX live order book, 5 min ago	29.70 bp	72.9 bp −$73	doesn't fit	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	−0.1300%	8h	187.01	−0.394%	$25.1M	$31.7M	20x	as long as short
edgeX SKHYUSDC	−0.0762%	4h	186.50	−0.668%	$562K	$290K	10x	as long as short
Nado SKHY-PERP	−0.0188%	1h	186.72	−0.546%	$33K	$28K	10x	as long as short
tradeXYZ xyz:SKHY	−0.0179%	1h	186.88	−0.463%	$158.8M	$74.7M	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	−0.0178%	1h	186.82	−0.495%	$49K	$343K	10x	as long as short
Popdex SKHYUSDT	−0.0168%	1h	186.70	−0.559%	$197K	$275K	20x	as long as short
Polymarket Perps SKHY-USD	−0.0165%	1h	186.60	−0.613%	$180K	$487K	10x	as long as short
Kraken Futures PF_SKHYUSD	−0.0139%	1h	186.67	−0.573%	$48K	$20K	20x	as long as short
Coinbase International SKHY-PERP-INTXlong	−0.0104%	1h	187.75	long leg	$63K	$901K	10x
Lighter SKHY	−0.0080%	1h	186.85	−0.479%	$956K	$1.1M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX SKHY-USD	−0.0049%	1h	186.67	−0.575%	$1.2M	$4.2M	10x	as long as short
Ondo Perps SKHY-USD.P	−0.0038%	1h	186.39	−0.724%	$515K	$2.6M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	186.88	−0.462%	$226K	$919K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	186.80	−0.507%	$54K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	186.86	−0.474%	$199.4M	$439.9M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	186.94	−0.431%	$15.9M	$29.3M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	186.77	−0.522%	$44.6M	$77.7M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	186.91	−0.447%	$25.6M	$20.5M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	186.64	−0.590%	$1.6M	$1.0M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	186.51	−0.660%	$22K	$230K	10x	as long as short
SunX SKHY-USDTshort	0.0000%	8h	186.88	−0.463%	$684	$6.1M	10x
HTX SKHY-USDT	0.0000%	8h	186.65	−0.586%	$155K	$366K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	186.78	−0.517%	$1.5M	$1.1M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	186.82	−0.495%	$1.1M	$1.6M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	186.51	−0.660%	$59K	$165K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	186.72	−0.549%	—	$24K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	186.64	−0.591%	$41K	$13K	10x	as long as short
KuCoin SKHYUSDTM	+0.0081%	8h	186.79	−0.511%	$1.1M	$327K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	186.71	−0.554%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	186.58	−0.623%	$2.2M	$421K	50x	as long as short
Phoenix SKHY	+0.0213%	1h	186.53	−0.650%	$209K	$115K	10x	as long as short