Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0003%/8h= −0.4% APRpaid last 24h +0.008%

Price spread now: tradeXYZ against GRVT−0.150%106s7-day average −0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as 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−$340.340% of the position

Long on GRVT Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.058%−$6 on $10k

Price spread, last 4 days (all we have)−0.028%−$3 · spread now −0.150%, 7d avg −0.046%

Together, before fees−0.086%+ Points / potential airdropGRVT: Active · tradeXYZ: Active · farm board−$9 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: tradeXYZ is 0.104% cheaper against GRVT than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of −0.046%. The two prices were read 106 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	GRVT SKHY_USDT_Perp	189.15	0	get 0.0000% / 8h	2h 45m	$22K	$218K	10x
Short	tradeXYZ xyz:SKHY	188.87	−0.0003	pay 0.0000% / 1h	45m 44s	$158.4M	$70.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against GRVT. 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 GRVTbpFee tradeXYZbpOrdersPrice spread, now −0.150%Rate

Funding earned: −$0.72
Price spread: −0.150% → −0.046%: −$10.35
Slippage, 4 orders: −$7.04
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$45.11
Costs to cover: 0.340%
Break-even: never at this rate

Slippage from GRVT: live order book, 2 min ago; tradeXYZ: live order book, 4 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 GRVT live order book, 2 min ago	1.59 bp	8.7 bp −$9	11.2 bp −$112	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 4 min ago	0.26 bp	9.5 bp −$10	10.8 bp −$108	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	−0.0528%	8h	188.94	−0.113%	$24.4M	$29.7M	20x	as long as short
edgeX SKHYUSDC	−0.0291%	4h	188.98	−0.089%	$570K	$291K	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	−0.0068%	1h	188.83	−0.171%	$48K	$334K	10x	as long as short
Nado SKHY-PERP	−0.0056%	1h	188.93	−0.118%	$33K	$28K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0024%	1h	188.72	−0.229%	$46K	$882K	10x	as long as short
QFEX SKHY-USD	−0.0014%	1h	188.87	−0.150%	$1.2M	$4.1M	10x	as long as short
Lighter SKHY	−0.0008%	1h	188.81	−0.181%	$1.0M	$741K	10x	as long as short
tradeXYZ xyz:SKHYshort	−0.0003%	1h	188.87	−0.150%	$158.4M	$70.6M	10x
Aster SKHYUSDT	0.0000%	8h	188.96	−0.099%	$243K	$897K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	188.80	−0.187%	$55K	$7K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance SKHYUSDT	0.0000%	8h	188.94	−0.113%	$200.1M	$416.2M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	188.98	−0.091%	$15.5M	$29.5M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	188.93	−0.118%	$45.0M	$74.4M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	188.81	−0.181%	$25.2M	$20.1M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	188.80	−0.186%	$1.6M	$986K	—	as long as short
GRVT SKHY_USDT_Perplong	0.0000%	8h	189.15	long leg	$22K	$218K	10x
SunX SKHY-USDT	0.0000%	8h	189.16	+0.004%	$692	$6.2M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	188.78	−0.197%	$156K	$368K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	188.79	−0.192%	$1.5M	$1.1M	10x	as long as short
Polymarket Perps SKHY-USD	+0.0027%	1h	188.73	−0.224%	$190K	$480K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	188.81	−0.181%	$1.0M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	188.83	−0.171%	$58K	$164K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	188.84	−0.165%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	188.81	−0.181%	$199K	$259K	20x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	188.77	−0.202%	$42K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	188.57	−0.308%	$525K	$2.6M	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	188.86	−0.155%	$1.1M	$315K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	188.80	−0.187%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	188.62	−0.282%	$2.2M	$440K	50x	as long as short
Phoenix SKHY	+0.0254%	1h	189.30	+0.078%	$212K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0259%	1h	188.79	−0.191%	$48K	$19K	20x	as long as short