Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0171%/8h= −18.8% APRpaid last 24h −0.038%

Price spread now: Deribit against Orderly+0.027%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Deribit is 0.027% dearer against Orderly than usual: you sell high and buy low (spread +0.027% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 13 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_SKHY_USDC_mythos	186.58	0.0100	pay 0.0100% / 8h	1h 29m	$2K	$4K	10x
Short	Deribit SKHY_USDC-PERPETUAL	186.63	−0.0071	pay 0.0009% / 1h	29m 58s	$49K	$342K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Orderly. 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 OrderlybpFee DeribitbpOrdersPrice spread, now +0.027%Rate

Funding earned: −$35.99
Price spread: +0.027% → 0.000%: $2.68
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$46.31
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Deribit: live order book, 14 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell Deribit live order book, 14 min ago	6.16 bp	14.8 bp −$15	17.7 bp −$177	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1278%	8h	186.85	+0.145%	$25.1M	$31.7M	20x	as long as short
edgeX SKHYUSDC	−0.0899%	4h	186.43	−0.080%	$562K	$291K	10x	as long as short
Nado SKHY-PERP	−0.0201%	1h	186.53	−0.024%	$33K	$28K	10x	as long as short
Popdex SKHYUSDT	−0.0200%	1h	186.54	−0.021%	$197K	$275K	20x	as long as short
tradeXYZ xyz:SKHY	−0.0195%	1h	186.57	−0.005%	$158.5M	$74.7M	10x	as long as short
Polymarket Perps SKHY-USD	−0.0184%	1h	186.44	−0.075%	$180K	$487K	10x	as long as short
Kraken Futures PF_SKHYUSD	−0.0139%	1h	186.65	+0.040%	$47K	$19K	20x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0104%	1h	187.75	+0.627%	$63K	$902K	10x	as long as short
Lighter SKHY	−0.0096%	1h	186.55	−0.016%	$954K	$1.1M	10x	as long as short
Deribit SKHY_USDC-PERPETUALshort	−0.0071%	1h	186.63	+0.027%	$49K	$342K	10x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps SKHY-USD.P	−0.0064%	1h	186.32	−0.139%	$514K	$2.6M	10x	as long as short
QFEX SKHY-USD	−0.0049%	1h	186.52	−0.032%	$1.2M	$4.2M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	186.74	+0.085%	$226K	$919K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	186.56	−0.011%	$54K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	186.61	+0.018%	$199.2M	$439.9M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	186.65	+0.038%	$15.9M	$29.3M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	186.51	−0.038%	$44.6M	$77.6M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	186.54	−0.021%	$25.5M	$20.5M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	186.43	−0.079%	$1.6M	$1.0M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	186.36	−0.117%	$22K	$228K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	186.84	+0.139%	$684	$6.1M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	186.54	−0.021%	$155K	$367K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	186.61	+0.016%	$1.5M	$1.1M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	186.52	−0.032%	$1.1M	$1.6M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	186.35	−0.123%	$59K	$166K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	186.58	0.000%	—	$24K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	186.53	−0.027%	$41K	$13K	10x	as long as short
KuCoin SKHYUSDTM	+0.0087%	8h	186.53	−0.027%	$1.1M	$328K	20x	as long as short
Orderly PERP_SKHY_USDC_mythoslong	+0.0100%	8h	186.58	long leg	$2K	$4K	10x
BloFin SKHY-USDT	+0.0120%	8h	186.47	−0.059%	$2.2M	$420K	50x	as long as short
Phoenix SKHY	+0.0213%	1h	186.61	+0.016%	$209K	$115K	10x	as long as short