Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0148%/8h= −16.2% APRpaid last 24h +0.003%

Price spread now: Coinbase International against KuCoin−0.114%51s7-day average +0.122% · you buy dearer than you sell

Net, funding: paid 7d − costs−$86as 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−$820.822% of the position

Long on KuCoin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.041%−$4 on $10k

Price spread, last 4 days (all we have)+0.266%+$27 · spread now −0.114%, 7d avg +0.122%

Together, before fees+0.225%+$22 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Coinbase International is 0.236% cheaper against KuCoin than usual: you would sell low and buy high (−$24 if the spread goes back to its 7-day average of +0.122%). Swap the legs. The two prices were read 51 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	KuCoin SKHYUSDTM	193.06	0.0100	pay 0.0100% / 8h	4h 37m	$1.1M	$304K	20x
Short	Coinbase International SKHY-PERP-INTX	192.84	−0.0048	pay 0.0006% / 1h	37m 32s	$45K	$861K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against KuCoin. 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 KuCoinbpFee Coinbase InternationalbpOrdersPrice spread, now −0.114%Rate

Funding earned: −$31.08
Price spread: −0.114% → +0.122%: −$23.63
Slippage, 4 orders: −$60.24
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$136.96
Costs to cover: 0.822%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; Coinbase International: live order book, 21 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 KuCoin live order book, 2 min ago	2.59 bp	29.0 bp −$29	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 21 min ago	5.95 bp	11.9 bp −$12	15.2 bp −$152	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	−0.0048%	4h	192.97	−0.049%	$582K	$290K	10x	as long as short
Coinbase International SKHY-PERP-INTXshort	−0.0048%	1h	192.84	−0.114%	$45K	$861K	10x
Aster SKHYUSDT	0.0000%	8h	193.10	+0.018%	$249K	$889K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	193.11	+0.028%	$56K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	193.14	+0.041%	$204.4M	$392.6M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	193.14	+0.041%	$15.7M	$27.5M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	193.14	+0.041%	$46.6M	$69.9M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	193.11	+0.026%	$25.8M	$18.8M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	193.09	+0.015%	$1.6M	$1.1M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	193.09	+0.015%	$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	193.31	+0.129%	$708	$6.3M	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	0.0000%	1h	193.04	−0.010%	$49K	$315K	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	192.99	−0.036%	$161K	$367K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	193.03	−0.016%	$1.5M	$1.1M	10x	as long as short
QFEX SKHY-USD	+0.0015%	1h	193.09	+0.016%	$1.2M	$4.1M	10x	as long as short
Lighter SKHY	+0.0032%	1h	193.01	−0.026%	$1.0M	$684K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	193.03	−0.016%	$1.1M	$1.6M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	193.00	−0.031%	$57K	$154K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	193.07	+0.005%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	193.16	+0.052%	$201K	$255K	20x	as long as short
tradeXYZ xyz:SKHY	+0.0049%	1h	193.03	−0.016%	$161.5M	$67.7M	10x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	193.03	−0.016%	$189K	$456K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	192.98	−0.041%	$43K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	193.03	−0.016%	$573K	$2.3M	10x	as long as short
KuCoin SKHYUSDTMlong	+0.0100%	8h	193.06	long leg	$1.1M	$304K	20x
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	193.01	−0.026%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	192.98	−0.041%	$2.2M	$437K	50x	as long as short
Nado SKHY-PERP	+0.0138%	1h	193.07	+0.004%	$38K	$26K	10x	as long as short
Bitget SKHYUSDT	+0.0159%	8h	193.08	+0.010%	$25.3M	$26.9M	20x	as long as short
Phoenix SKHY	+0.0372%	1h	193.09	+0.016%	$216K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.1058%	1h	193.11	+0.026%	$50K	$18K	20x	as long as short