Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0267%/8h= +29.2% APRpaid last 24h −0.172%

Price spread now: Bybit against Kraken Futures−0.058%55s7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.702%−$70 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. Bybit is 0.058% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.058% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 17 hours of funding at the current rate (+$8 a day). Mind the row above: over the last 7 days funding on this pair cost −0.702%, so the current rate has only just turned in your favour. The two prices were read 55 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	Kraken Futures PF_SKHYUSD	185.96	−0.0267	get 0.0033% / 1h	57m 25s	$48K	$21K	20x
Short	Bybit SKHYUSDT	185.85	0	get 0.0000% / 8h	57m 25s	$16.6M	$29.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Kraken Futures. 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 Kraken FuturesbpFee BybitbpOrdersPrice spread, now −0.058%Rate

Funding earned: $56.03
Price spread: −0.058% → 0.000%: −$5.82
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $29.22
Costs to cover: 0.210%
Break-even: 3.4 days

Slippage unknown: Kraken Futures: no order-book sample; Bybit: live order book, 1 min ago. 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell Bybit live order book, 1 min ago	0.54 bp	8.1 bp −$8	12.8 bp −$128	73.3 bp −$7,327	doesn't fit

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
Bitget SKHYUSDT	−0.1359%	8h	186.04	+0.044%	$25.2M	$32.7M	20x	as long as short
edgeX SKHYUSDC	−0.0633%	4h	185.93	−0.016%	$560K	$289K	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	−0.0503%	1h	185.84	−0.064%	$48K	$345K	10x	as long as short
Popdex SKHYUSDT	−0.0352%	1h	185.82	−0.074%	$203K	$285K	20x	as long as short
tradeXYZ xyz:SKHY	−0.0349%	1h	185.81	−0.080%	$157.8M	$76.9M	10x	as long as short
Kraken Futures PF_SKHYUSDlong	−0.0267%	1h	185.96	long leg	$48K	$21K	20x
Polymarket Perps SKHY-USD	−0.0252%	1h	185.73	−0.123%	$179K	$487K	10x	as long as short
Nado SKHY-PERP	−0.0249%	1h	186.00	+0.024%	$33K	$28K	10x	as long as short
Lighter SKHY	−0.0144%	1h	185.81	−0.080%	$972K	$1.2M	10x	as long as short
Ondo Perps SKHY-USD.P	−0.0084%	1h	185.76	−0.107%	$520K	$2.6M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International SKHY-PERP-INTX	−0.0072%	1h	187.58	+0.872%	$68K	$905K	10x	as long as short
QFEX SKHY-USD	−0.0061%	1h	185.82	−0.074%	$1.2M	$4.3M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	186.02	+0.036%	$223K	$925K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	185.77	−0.101%	$54K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	185.84	−0.064%	$199.2M	$448.8M	50x	as long as short
Bybit SKHYUSDTshort	0.0000%	8h	185.85	−0.058%	$16.6M	$29.6M	100x
OKX SKHY-USDT-SWAP	0.0000%	8h	185.78	−0.096%	$44.4M	$78.7M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	185.83	−0.069%	$25.4M	$20.8M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	186.16	+0.110%	$1.6M	$1.0M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	186.25	+0.154%	$22K	$231K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	186.07	+0.060%	$681	$6.1M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	185.84	−0.064%	$154K	$366K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	185.86	−0.053%	$1.5M	$1.1M	10x	as long as short
KuCoin SKHYUSDTM	+0.0001%	8h	185.98	+0.012%	$1.1M	$326K	20x	as long as short
Lighter RH SKHY	+0.0016%	1h	185.78	−0.096%	$1.1M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	185.97	+0.006%	$60K	$170K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	185.90	−0.031%	—	$32K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	185.79	−0.090%	$41K	$12K	10x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	185.83	−0.069%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	185.96	+0.001%	$2.2M	$422K	50x	as long as short
Phoenix SKHY	+0.0213%	1h	186.20	+0.130%	$209K	$123K	10x	as long as short