Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0067%/8h= −7.4% APRpaid last 24h −0.047%

Price spread now: Deribit against BloFin+0.060%57s7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$440.440% of the position

Long on BloFin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.187%−$19 on $10k

Price spread, last 4 days (all we have)−0.086%−$9 · spread now +0.060%, 7d avg +0.013%

Together, before fees−0.274%−$27 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.047% dearer against BloFin than usual: you sell high and buy low (spread +0.060% now, against its 7-day average of +0.013%): +$5 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.3 days. At the pace of the last 4 days (−0.187% in total) that is about 24 hours. The two prices were read 57 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	BloFin SKHY-USDT	184.83	0.0067	pay 0.0067% / 8h	7h 20m	$2.1M	$446K	50x
Short	Deribit SKHY_USDC-PERPETUAL	184.94	0	get 0.0000% / 1h	20m 10s	$47K	$354K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BloFin. 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 BloFinbpFee DeribitbpOrdersPrice spread, now +0.060%Rate

Funding earned: −$14.12
Price spread: +0.060% → +0.013%: $4.69
Slippage, 4 orders: −$25.05
Fee BloFin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$53.49
Costs to cover: 0.440%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; Deribit: live order book, 13 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 BloFin live order book, 3 min ago	1.35 bp	7.4 bp −$7	9.2 bp −$92	18.4 bp −$1,844	doesn't fit
Sell Deribit live order book, 13 min ago	5.97 bp	13.0 bp −$13	16.5 bp −$165	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	−0.1152%	8h	184.94	+0.060%	$25.4M	$35.1M	20x	as long as short
KuCoin SKHYUSDTM	−0.0246%	8h	184.68	−0.081%	$1.1M	$376K	20x	as long as short
edgeX SKHYUSDC	−0.0224%	4h	184.38	−0.241%	$556K	$290K	10x	as long as short
GRVT SKHY_USDT_Perp	−0.0198%	8h	184.46	−0.200%	$22K	$246K	10x	as long as short
tradeXYZ xyz:SKHY	−0.0052%	1h	184.81	−0.011%	$156.6M	$77.9M	10x	as long as short
Extended SKHY-USD	−0.0048%	1h	184.79	−0.024%	$53K	$7K	10x	as long as short
Binance SKHYUSDT	−0.0047%	8h	184.82	−0.005%	$195.9M	$465.0M	50x	as long as short
Nado SKHY-PERP	−0.0032%	1h	184.88	+0.026%	$32K	$28K	10x	as long as short
QFEX SKHY-USD	−0.0028%	1h	184.84	+0.005%	$1.2M	$4.3M	10x	as long as short
Variational Omni SKHY	−0.0022%	8h	184.84	+0.004%	$1.6M	$1.0M	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster SKHYUSDT	0.0000%	8h	184.64	−0.103%	$265K	$951K	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	184.83	0.000%	$16.0M	$33.3M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	184.85	+0.011%	$43.7M	$81.7M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	184.80	−0.016%	$25.5M	$21.8M	75x	as long as short
SunX SKHY-USDT	0.0000%	8h	185.08	+0.135%	$677	$5.9M	10x	as long as short
Deribit SKHY_USDC-PERPETUALshort	0.0000%	1h	184.94	+0.060%	$47K	$354K	10x
HTX SKHY-USDT	0.0000%	8h	184.72	−0.060%	$153K	$375K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	184.88	+0.027%	$1.5M	$1.1M	10x	as long as short
Coinbase International SKHY-PERP-INTX	+0.0024%	1h	183.79	−0.563%	$66K	$750K	10x	as long as short
Lighter SKHY	+0.0032%	1h	184.81	−0.011%	$982K	$1.3M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	184.77	−0.032%	$1.1M	$1.5M	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0039%	1h	184.81	−0.011%	$510K	$2.6M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	184.70	−0.070%	$59K	$173K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	184.74	−0.049%	—	$38K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	184.80	−0.016%	$199K	$295K	20x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	184.75	−0.043%	$179K	$451K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	184.76	−0.038%	$41K	$12K	10x	as long as short
BloFin SKHY-USDTlong	+0.0067%	8h	184.83	long leg	$2.1M	$446K	50x
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	184.76	−0.038%	$2K	$4K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0171%	1h	184.94	+0.061%	$48K	$20K	20x	as long as short
Phoenix SKHY	+0.0215%	1h	184.57	−0.141%	$207K	$123K	10x	as long as short