Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0062%/8h= −6.7% APRpaid last 24h +0.008%

Price spread now: SunX against Deribit+0.177%7-day average +0.122% · 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−$144as in the Price arb table

costs, in and out, $10k−$1491.493% of the position

Long on Deribit Short on SunX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.010%+$1 on $10k

Price spread, last 4 days (all we have)−0.054%−$5 · spread now +0.177%, 7d avg +0.122%

Together, before fees−0.043%−$4 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.054% dearer against Deribit than usual: you sell high and buy low (spread +0.177% now, against its 7-day average of +0.122%): +$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 2.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SKHY_USDC-PERPETUAL	192.60	0.0062	pay 0.0008% / 1h	24m 50s	$49K	$295K	10x
Short	SunX SKHY-USDT	192.94	0	get 0.0000% / 8h	5h 24m	$706	$6.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Deribit. 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 DeribitbpFee SunXbpOrdersPrice spread, now +0.177%Rate

Funding earned: −$12.94
Price spread: +0.177% → +0.122%: $5.45
Slippage, 4 orders: −$134.31
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$156.81
Costs to cover: 1.493%
Break-even: never at this rate

Slippage from Deribit: live order book, 39 min ago; SunX: live order book, 4 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 Deribit live order book, 39 min ago	5.96 bp	11.3 bp −$11	13.8 bp −$138	doesn't fit	doesn't fit
Sell SunX live order book, 4 min ago	29.54 bp	72.8 bp −$73	doesn't fit	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	−0.0894%	4h	192.62	+0.009%	$581K	$289K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0032%	1h	192.90	+0.156%	$45K	$874K	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	192.65	+0.026%	$248K	$890K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	192.61	+0.007%	$56K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	192.68	+0.042%	$206.1M	$389.8M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	192.71	+0.057%	$15.7M	$27.3M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	192.73	+0.067%	$46.6M	$69.3M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	192.66	+0.031%	$25.8M	$19.0M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	192.70	+0.050%	$1.6M	$1.2M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	192.68	+0.042%	$23K	$195K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX SKHY-USDTshort	0.0000%	8h	192.94	+0.177%	$706	$6.4M	10x
HTX SKHY-USDT	0.0000%	8h	192.63	+0.016%	$160K	$368K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	192.62	+0.010%	$1.5M	$1.1M	10x	as long as short
QFEX SKHY-USD	+0.0004%	1h	192.67	+0.036%	$1.2M	$4.3M	10x	as long as short
Lighter SKHY	+0.0032%	1h	192.48	−0.062%	$1.0M	$688K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	192.50	−0.052%	$1.1M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	192.70	+0.052%	$57K	$154K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	192.69	+0.047%	—	$11K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	192.70	+0.052%	$199K	$256K	20x	as long as short
tradeXYZ xyz:SKHY	+0.0050%	1h	192.54	−0.031%	$161.1M	$67.2M	10x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	192.61	+0.005%	$188K	$456K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	192.63	+0.016%	$43K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	192.65	+0.026%	$584K	$2.2M	10x	as long as short
Deribit SKHY_USDC-PERPETUALlong	+0.0062%	1h	192.60	long leg	$49K	$295K	10x
KuCoin SKHYUSDTM	+0.0100%	8h	192.65	+0.026%	$1.1M	$290K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	192.68	+0.042%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	192.59	−0.005%	$2.2M	$445K	50x	as long as short
Bitget SKHYUSDT	+0.0135%	8h	192.75	+0.078%	$25.4M	$26.7M	20x	as long as short
Nado SKHY-PERP	+0.0167%	1h	192.74	+0.074%	$38K	$26K	10x	as long as short
Phoenix SKHY	+0.0332%	1h	192.88	+0.145%	$216K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0547%	1h	192.76	+0.085%	$51K	$17K	20x	as long as short