Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0116%/8h= −12.7% APRpaid last 24h +0.015%

Price spread now: KuCoin against Deribit−0.005%7-day average −0.034% · 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−$88as in the Price arb table

costs, in and out, $10k−$910.906% of the position

Long on Deribit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.071%+$7 on $10k

Price spread, last 4 days (all we have)+0.058%+$6 · spread now −0.005%, 7d avg −0.034%

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

The price spread pays, funding is against you. KuCoin is 0.028% dearer against Deribit than usual: you sell high and buy low (spread −0.005% now, against its 7-day average of −0.034%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 20 hours. Mind the row above: over the last 4 days funding on this pair paid +0.071%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SKHY_USDC-PERPETUAL	193.27	0.0216	pay 0.0027% / 1h	1m 47s	$49K	$306K	10x
Short	KuCoin SKHYUSDTM	193.26	0.0100	get 0.0100% / 8h	5h 01m	$1.1M	$297K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.005%Rate

Funding earned: −$24.34
Price spread: −0.005% → −0.034%: $2.84
Slippage, 4 orders: −$71.56
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$112.06
Costs to cover: 0.906%
Break-even: never at this rate

Slippage from Deribit: live order book, 62 min ago; KuCoin: live order book, 3 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, 62 min ago	5.96 bp	11.3 bp −$11	13.8 bp −$138	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	3.11 bp	33.2 bp −$33	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
edgeX SKHYUSDC	−0.0876%	4h	193.20	−0.036%	$582K	$291K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0032%	1h	192.90	−0.191%	$45K	$874K	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	193.22	−0.027%	$249K	$889K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	193.30	+0.016%	$56K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	193.34	+0.036%	$205.2M	$393.4M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	193.36	+0.047%	$15.8M	$27.5M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	193.33	+0.031%	$46.7M	$70.1M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	193.28	+0.005%	$25.8M	$19.2M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	193.16	−0.058%	$1.6M	$1.2M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	193.20	−0.035%	$23K	$199K	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	193.55	+0.145%	$708	$6.3M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	193.05	−0.114%	$161K	$368K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	193.27	0.000%	$1.5M	$1.1M	10x	as long as short
QFEX SKHY-USD	+0.0004%	1h	193.20	−0.036%	$1.2M	$4.3M	10x	as long as short
Lighter SKHY	+0.0032%	1h	193.15	−0.062%	$1.0M	$696K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	193.15	−0.062%	$1.1M	$1.6M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	193.14	−0.067%	$57K	$154K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	193.21	−0.031%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	193.28	+0.005%	$201K	$257K	20x	as long as short
tradeXYZ xyz:SKHY	+0.0050%	1h	193.22	−0.026%	$161.6M	$67.6M	10x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	193.17	−0.052%	$189K	$456K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	193.21	−0.031%	$43K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	193.12	−0.078%	$567K	$2.3M	10x	as long as short
KuCoin SKHYUSDTMshort	+0.0100%	8h	193.26	−0.005%	$1.1M	$297K	20x
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	193.28	+0.005%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	193.17	−0.052%	$2.3M	$438K	50x	as long as short
Nado SKHY-PERP	+0.0170%	1h	193.22	−0.027%	$38K	$26K	10x	as long as short
Bitget SKHYUSDT	+0.0193%	8h	193.30	+0.016%	$25.4M	$26.9M	20x	as long as short
Deribit SKHY_USDC-PERPETUALlong	+0.0216%	1h	193.27	long leg	$49K	$306K	10x
Phoenix SKHY	+0.0332%	1h	193.38	+0.057%	$217K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0545%	1h	193.34	+0.039%	$51K	$17K	20x	as long as short