Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0690%/8h= +75.5% APRpaid last 24h +0.174%

Price spread now: Kraken Futures against Binance−0.059%54s7-day average — · you buy dearer than you sell

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

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.732%+$73 on $10k

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

Together, before fees—needs both histories

Funding pays, the price is against you. Kraken Futures is 0.059% cheaper against Binance than usual: you would sell low and buy high (spread −0.059% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 7 hours of funding at the current rate (+$21 a day). The two prices were read 54 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	Binance SKHYUSDT	190.11	0	get 0.0000% / 8h	3h 37m	$199.7M	$404.4M	50x
Short	Kraken Futures PF_SKHYUSD	190.00	0.0690	get 0.0086% / 1h	37m 23s	$48K	$19K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Binance. 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 BinancebpFee Kraken FuturesbpOrdersPrice spread, now −0.059%Rate

Funding earned: $144.8
Price spread: −0.059% → 0.000%: −$5.87
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $118.93
Costs to cover: 0.200%
Break-even: 1.3 days

Slippage unknown: Binance: live order book, 6 min ago; Kraken Futures: no order-book sample. 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 Binance live order book, 6 min ago	0.26 bp	5.3 bp −$5	7.5 bp −$75	17.6 bp −$1,758	63.0 bp −$31.5K
Sell Kraken Futures no order-book sample	—	—	—	—	—

Kraken Futures: 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
edgeX SKHYUSDC	−0.0312%	4h	189.89	−0.116%	$572K	$290K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0104%	1h	192.84	+1.436%	$45K	$861K	10x	as long as short
tradeXYZ xyz:SKHY	−0.0002%	1h	190.01	−0.053%	$158.9M	$69.1M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	190.03	−0.040%	$247K	$893K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	189.98	−0.067%	$55K	$7K	10x	as long as short
Binance SKHYUSDTlong	0.0000%	8h	190.11	long leg	$199.7M	$404.4M	50x
Bybit SKHYUSDT	0.0000%	8h	190.12	+0.005%	$15.3M	$28.6M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	190.11	0.000%	$45.3M	$73.2M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	190.00	−0.058%	$25.6M	$19.5M	75x	as long as short
Bitget SKHYUSDT	0.0000%	8h	190.15	+0.021%	$24.4M	$28.4M	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SKHY	0.0000%	8h	190.47	+0.190%	$1.6M	$1.1M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	189.92	−0.100%	$23K	$213K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	190.26	+0.079%	$696	$6.2M	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	0.0000%	1h	189.98	−0.068%	$48K	$326K	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	189.89	−0.116%	$158K	$369K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	189.99	−0.063%	$1.5M	$1.1M	10x	as long as short
QFEX SKHY-USD	+0.0011%	1h	190.09	−0.011%	$1.2M	$4.1M	10x	as long as short
Lighter SKHY	+0.0032%	1h	189.83	−0.147%	$1.0M	$692K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	189.85	−0.137%	$1.1M	$1.4M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	190.11	0.000%	$59K	$164K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	190.06	−0.026%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	190.09	−0.011%	$200K	$257K	20x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	190.00	−0.058%	$183K	$470K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	189.91	−0.105%	$42K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	189.99	−0.063%	$563K	$2.7M	10x	as long as short
Nado SKHY-PERP	+0.0093%	1h	190.11	+0.002%	$34K	$28K	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	190.08	−0.016%	$1.1M	$319K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	190.11	0.000%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	189.85	−0.137%	$2.2M	$435K	50x	as long as short
Phoenix SKHY	+0.0375%	1h	190.14	+0.016%	$213K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSDshort	+0.0690%	1h	190.00	−0.059%	$48K	$19K	20x