Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h +0.008%

Price spread now: Coinbase International against Bybit+0.450%7-day average +0.110% · you sell dearer than you buy

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$3as in the Price arb table

costs, in and out, $10k−$370.370% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.107%−$11 on $10k

Price spread, last 4 days (all we have)−0.386%−$39 · spread now +0.450%, 7d avg +0.110%

Together, before fees−0.493%−$49 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.340% dearer against Bybit than usual: you sell high and buy low (spread +0.450% now, against its 7-day average of +0.110%): +$34 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 11 days. At the pace of the last 7 days (−0.107% in total) that is about 22 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SKHYUSDT	189.01	0	get 0.0000% / 8h	3h 04m	$15.4M	$29.1M	100x
Short	Coinbase International SKHY-PERP-INTX	189.86	−0.0104	pay 0.0013% / 1h	4m 35s	$36K	$876K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bybit. 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 BybitbpFee Coinbase InternationalbpOrdersPrice spread, now +0.450%Rate

Funding earned: −$21.84
Price spread: +0.450% → +0.110%: $33.98
Slippage, 4 orders: −$15.96
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$24.82
Costs to cover: 0.370%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Coinbase International: live order book, 49 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 Bybit live order book, 4 min ago	0.53 bp	7.2 bp −$7	11.1 bp −$111	71.9 bp −$7,193	doesn't fit
Sell Coinbase International live order book, 49 min ago	5.22 bp	10.2 bp −$10	14.9 bp −$149	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	−0.0337%	8h	189.02	+0.005%	$24.3M	$29.4M	20x	as long as short
Coinbase International SKHY-PERP-INTXshort	−0.0104%	1h	189.86	+0.450%	$36K	$876K	10x
edgeX SKHYUSDC	−0.0055%	4h	188.56	−0.237%	$568K	$290K	10x	as long as short
tradeXYZ xyz:SKHY	−0.0017%	1h	188.83	−0.095%	$158.4M	$70.1M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	188.99	−0.013%	$244K	$897K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	188.87	−0.072%	$55K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	188.98	−0.016%	$199.4M	$412.3M	50x	as long as short
Bybit SKHYUSDTlong	0.0000%	8h	189.01	long leg	$15.4M	$29.1M	100x
OKX SKHY-USDT-SWAP	0.0000%	8h	189.03	+0.011%	$44.8M	$73.8M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	188.90	−0.058%	$25.3M	$19.9M	75x	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	188.92	−0.047%	$1.6M	$1.1M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	188.81	−0.104%	$22K	$216K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	189.07	+0.032%	$692	$6.2M	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	0.0000%	1h	188.89	−0.063%	$48K	$330K	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	188.72	−0.153%	$156K	$370K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	188.96	−0.026%	$1.5M	$1.1M	10x	as long as short
Lighter SKHY	+0.0008%	1h	188.85	−0.085%	$995K	$747K	10x	as long as short
QFEX SKHY-USD	+0.0011%	1h	188.94	−0.037%	$1.2M	$4.1M	10x	as long as short
Nado SKHY-PERP	+0.0013%	1h	188.92	−0.048%	$33K	$28K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	188.76	−0.132%	$1.0M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	188.81	−0.106%	$58K	$164K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	188.87	−0.074%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	188.96	−0.026%	$199K	$258K	20x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	188.69	−0.169%	$182K	$472K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	188.78	−0.122%	$42K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	188.78	−0.122%	$526K	$2.6M	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	188.88	−0.069%	$1.1M	$312K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	188.87	−0.074%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	188.87	−0.074%	$2.2M	$438K	50x	as long as short
Phoenix SKHY	+0.0375%	1h	189.01	0.000%	$212K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0694%	1h	188.84	−0.090%	$48K	$19K	20x	as long as short