Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0180%/8h= −19.7% APRpaid last 24h +0.008%

Price spread now: GRVT against Deribit−0.086%7-day average −0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$410.410% of the position

Long on Deribit Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.031%+$3 on $10k

Price spread, last 4 days (all we have)+0.088%+$9 · spread now −0.086%, 7d avg −0.005%

Together, before fees+0.120%+ Points / potential airdropGRVT: Active · farm board+$12 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and GRVT is 0.081% cheaper against Deribit than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.005%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SKHY_USDC-PERPETUAL	186.31	0.0180	pay 0.0022% / 1h	8m 29s	$49K	$347K	10x
Short	GRVT SKHY_USDT_Perp	186.15	0	get 0.0000% / 8h	8m 29s	$22K	$238K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Deribit. 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 DeribitbpFee GRVTbpOrdersPrice spread, now −0.086%Rate

Funding earned: −$37.71
Price spread: −0.086% → −0.005%: −$8.09
Slippage, 4 orders: −$24.97
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$86.78
Costs to cover: 0.410%
Break-even: never at this rate

Slippage from Deribit: live order book, 30 min ago; GRVT: live order book, 29 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 Deribit live order book, 30 min ago	6.70 bp	16.4 bp −$16	19.5 bp −$195	doesn't fit	doesn't fit
Sell GRVT live order book, 29 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	−0.1249%	8h	186.43	+0.064%	$25.5M	$33.5M	20x	as long as short
Kraken Futures PF_SKHYUSD	−0.0266%	1h	186.30	−0.004%	$48K	$21K	20x	as long as short
tradeXYZ xyz:SKHY	−0.0135%	1h	186.24	−0.038%	$158.1M	$76.8M	10x	as long as short
Nado SKHY-PERP	−0.0119%	1h	186.30	−0.004%	$33K	$28K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0072%	1h	187.58	+0.682%	$68K	$799K	10x	as long as short
QFEX SKHY-USD	−0.0061%	1h	186.20	−0.059%	$1.2M	$4.3M	10x	as long as short
KuCoin SKHYUSDTM	−0.0056%	8h	186.20	−0.059%	$1.1M	$347K	20x	as long as short
Polymarket Perps SKHY-USD	−0.0054%	1h	186.18	−0.070%	$180K	$486K	10x	as long as short
edgeX SKHYUSDC	−0.0018%	4h	186.11	−0.105%	$561K	$290K	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	186.29	−0.012%	$225K	$899K	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	186.23	−0.041%	$54K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	186.28	−0.014%	$199.8M	$453.0M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	186.28	−0.016%	$16.6M	$29.5M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	186.20	−0.059%	$44.5M	$80.0M	50x	as long as short
Popdex SKHYUSDT	0.0000%	1h	186.23	−0.043%	$204K	$287K	20x	as long as short
Gate SKHY_USDT	0.0000%	8h	186.21	−0.054%	$25.5M	$21.1M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	186.12	−0.101%	$1.6M	$1.1M	—	as long as short
GRVT SKHY_USDT_Perpshort	0.0000%	8h	186.15	−0.086%	$22K	$238K	10x
SunX SKHY-USDT	0.0000%	8h	186.54	+0.123%	$683	$6.1M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	186.19	−0.064%	$154K	$363K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	186.27	−0.021%	$1.5M	$1.1M	10x	as long as short
Lighter SKHY	+0.0016%	1h	186.20	−0.059%	$973K	$1.2M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	186.17	−0.075%	$1.1M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	186.18	−0.070%	$60K	$171K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	186.14	−0.091%	—	$32K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	186.15	−0.086%	$41K	$12K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	186.05	−0.140%	$520K	$2.6M	10x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	186.23	−0.043%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	186.27	−0.021%	$2.2M	$426K	50x	as long as short
Phoenix SKHY	+0.0129%	1h	186.45	+0.075%	$209K	$123K	10x	as long as short
Deribit SKHY_USDC-PERPETUALlong	+0.0180%	1h	186.31	long leg	$49K	$347K	10x