Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0043%/8h= +4.7% APRpaid last 24h +0.036%

Price spread now: BloFin against Coinbase International+0.566%58s7-day average −0.129% · you sell dearer than you buy

Net, funding: paid 7d − costs−$7as 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−$410.411% of the position

Long on Coinbase International Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.345%+$35 on $10k

Price spread, last 4 days (all we have)−0.720%−$72 · spread now +0.566%, 7d avg −0.129%

Together, before fees−0.375%−$38 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and BloFin is 0.695% dearer against Coinbase International than usual: you sell high and buy low: +$69 more if the spread goes back to its 7-day average of −0.129%. The two prices were read 58 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	Coinbase International SKHY-PERP-INTX	183.79	0.0024	pay 0.0003% / 1h	20m 01s	$66K	$750K	10x
Short	BloFin SKHY-USDT	184.83	0.0067	get 0.0067% / 8h	7h 20m	$2.1M	$446K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Coinbase International. 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 Coinbase InternationalbpFee BloFinbpOrdersPrice spread, now +0.566%Rate

Funding earned: $9.08
Price spread: +0.566% → −0.129%: $69.48
Slippage, 4 orders: −$19.1
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $37.46
Costs to cover: 0.411%
Break-even: from the start

Slippage from Coinbase International: live order book, 13 min ago; BloFin: live order book, 3 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 Coinbase International live order book, 13 min ago	7.32 bp	12.4 bp −$12	15.6 bp −$156	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	1.35 bp	7.4 bp −$7	8.1 bp −$81	25.3 bp −$2,526	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	185.03	+0.675%	$25.4M	$35.1M	20x	as long as short
KuCoin SKHYUSDTM	−0.0246%	8h	184.74	+0.517%	$1.1M	$376K	20x	as long as short
edgeX SKHYUSDC	−0.0224%	4h	184.38	+0.324%	$556K	$290K	10x	as long as short
GRVT SKHY_USDT_Perp	−0.0198%	8h	184.46	+0.365%	$22K	$246K	10x	as long as short
tradeXYZ xyz:SKHY	−0.0052%	1h	184.81	+0.555%	$156.6M	$77.9M	10x	as long as short
Extended SKHY-USD	−0.0048%	1h	184.82	+0.560%	$54K	$7K	10x	as long as short
Binance SKHYUSDT	−0.0047%	8h	184.91	+0.608%	$196.0M	$465.2M	50x	as long as short
Nado SKHY-PERP	−0.0032%	1h	184.88	+0.592%	$32K	$28K	10x	as long as short
QFEX SKHY-USD	−0.0028%	1h	184.84	+0.571%	$1.2M	$4.3M	10x	as long as short
Variational Omni SKHY	−0.0022%	8h	184.84	+0.570%	$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	184.69	+0.488%	$265K	$951K	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	184.90	+0.604%	$16.0M	$33.3M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	184.94	+0.626%	$43.7M	$81.8M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	184.80	+0.550%	$25.5M	$21.8M	75x	as long as short
SunX SKHY-USDT	0.0000%	8h	185.08	+0.702%	$677	$5.9M	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	0.0000%	1h	184.94	+0.626%	$47K	$354K	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	184.72	+0.506%	$153K	$375K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	184.88	+0.593%	$1.5M	$1.1M	10x	as long as short
Coinbase International SKHY-PERP-INTXlong	+0.0024%	1h	183.79	long leg	$66K	$750K	10x
Lighter SKHY	+0.0032%	1h	184.81	+0.555%	$982K	$1.3M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	184.77	+0.533%	$1.1M	$1.5M	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0039%	1h	184.81	+0.555%	$510K	$2.6M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	184.70	+0.495%	$59K	$173K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	184.74	+0.517%	—	$38K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	184.80	+0.550%	$199K	$295K	20x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	184.75	+0.522%	$179K	$451K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	184.76	+0.528%	$41K	$12K	10x	as long as short
BloFin SKHY-USDTshort	+0.0067%	8h	184.83	+0.566%	$2.1M	$446K	50x
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	184.76	+0.528%	$2K	$4K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0171%	1h	184.94	+0.627%	$48K	$20K	20x	as long as short
Phoenix SKHY	+0.0215%	1h	184.57	+0.424%	$207K	$123K	10x	as long as short