Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.008%

Price spread now: GRVT against tradeXYZ−0.021%86s7-day average +0.043% · you buy dearer than you sell

Net, funding: paid 7d − costs−$25as 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−$310.315% of the position

Long on tradeXYZ Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.064%+$6 on $10k

Price spread, last 4 days (all we have)+0.294%+$29 · spread now −0.021%, 7d avg +0.043%

Together, before fees+0.358%+ Points / potential airdroptradeXYZ: Active · GRVT: Active · farm board+$36 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and GRVT is 0.064% cheaper against tradeXYZ than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.043%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.064%, so the current rate has only just turned against you. The two prices were read 86 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	tradeXYZ xyz:SKHY	192.96	0.0050	pay 0.0006% / 1h	9m 51s	$161.3M	$67.9M	10x
Short	GRVT SKHY_USDT_Perp	192.92	0	get 0.0000% / 8h	4h 09m	$23K	$205K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against tradeXYZ. 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 tradeXYZbpFee GRVTbpOrdersPrice spread, now −0.021%Rate

Funding earned: −$10.5
Price spread: −0.021% → +0.043%: −$6.41
Slippage, 4 orders: −$4.5
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$48.41
Costs to cover: 0.315%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 9 min ago; GRVT: live order book, 47 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 tradeXYZ live order book, 9 min ago	0.26 bp	9.8 bp −$10	11.2 bp −$112	doesn't fit	doesn't fit
Sell GRVT live order book, 47 min ago	1.29 bp	6.3 bp −$6	12.3 bp −$123	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	−0.0839%	4h	192.88	−0.040%	$581K	$292K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0048%	1h	192.84	−0.062%	$45K	$861K	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	193.05	+0.045%	$249K	$889K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	192.98	+0.010%	$56K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	193.04	+0.041%	$203.7M	$394.4M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	193.04	+0.041%	$15.7M	$27.7M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	193.06	+0.052%	$46.8M	$70.1M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	192.99	+0.016%	$25.8M	$19.0M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	192.95	−0.006%	$1.6M	$1.1M	—	as long as short
GRVT SKHY_USDT_Perpshort	0.0000%	8h	192.92	−0.021%	$23K	$205K	10x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX SKHY-USDT	0.0000%	8h	193.32	+0.187%	$708	$6.2M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	192.99	+0.016%	$161K	$369K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	193.06	+0.052%	$1.5M	$1.1M	10x	as long as short
QFEX SKHY-USD	+0.0015%	1h	192.98	+0.010%	$1.2M	$3.9M	10x	as long as short
Lighter SKHY	+0.0032%	1h	192.94	−0.010%	$1.0M	$698K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	192.92	−0.021%	$1.1M	$1.6M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	193.03	+0.036%	$60K	$161K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	192.98	+0.010%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	193.07	+0.057%	$202K	$256K	20x	as long as short
tradeXYZ xyz:SKHYlong	+0.0050%	1h	192.96	long leg	$161.3M	$67.9M	10x
Polymarket Perps SKHY-USD	+0.0050%	1h	192.96	0.000%	$189K	$456K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	192.98	+0.010%	$43K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	192.90	−0.031%	$577K	$2.4M	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	+0.0061%	1h	193.07	+0.057%	$49K	$322K	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	192.99	+0.016%	$1.1M	$316K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	193.05	+0.047%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	193.06	+0.052%	$2.3M	$438K	50x	as long as short
Bitget SKHYUSDT	+0.0134%	8h	193.09	+0.067%	$25.2M	$26.9M	20x	as long as short
Nado SKHY-PERP	+0.0149%	1h	193.03	+0.036%	$38K	$26K	10x	as long as short
Phoenix SKHY	+0.0372%	1h	193.21	+0.130%	$216K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.1058%	1h	193.08	+0.064%	$49K	$19K	20x	as long as short