Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0446%/8h= −48.8% APRpaid last 24h −0.134%

Price spread now: Orderly against Kraken Futures−0.081%7-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 Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Orderly is 0.081% cheaper against Kraken Futures than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_SKHYUSD	192.95	0.0546	pay 0.0068% / 1h	23m 00s	$51K	$17K	20x
Short	Orderly PERP_SKHY_USDC_mythos	192.79	0.0100	get 0.0100% / 8h	5h 23m	$2K	$4K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.081%Rate

Funding earned: −$93.66
Price spread: −0.081% → 0.000%: −$8.12
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$117.79
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Orderly: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—

Kraken Futures and Orderly: 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
edgeX SKHYUSDC	−0.0383%	4h	192.65	−0.156%	$581K	$290K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0032%	1h	192.90	−0.024%	$45K	$874K	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	192.78	−0.086%	$248K	$888K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	192.89	−0.030%	$56K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	192.94	−0.003%	$206.4M	$390.3M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	192.93	−0.009%	$15.7M	$27.3M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	192.92	−0.014%	$46.7M	$69.4M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	192.84	−0.055%	$25.8M	$19.0M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	192.70	−0.130%	$1.6M	$1.2M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	192.68	−0.138%	$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-USDT	0.0000%	8h	193.21	+0.136%	$707	$6.4M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	192.84	−0.055%	$160K	$368K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	192.89	−0.029%	$1.5M	$1.1M	10x	as long as short
QFEX SKHY-USD	+0.0004%	1h	192.71	−0.123%	$1.2M	$4.3M	10x	as long as short
Lighter SKHY	+0.0032%	1h	192.75	−0.102%	$1.0M	$688K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	192.75	−0.102%	$1.1M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	192.69	−0.133%	$57K	$154K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	192.71	−0.123%	—	$11K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	192.84	−0.055%	$199K	$256K	20x	as long as short
tradeXYZ xyz:SKHY	+0.0050%	1h	192.80	−0.076%	$161.3M	$67.2M	10x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	192.71	−0.123%	$188K	$456K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	192.78	−0.086%	$43K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	192.64	−0.159%	$584K	$2.2M	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	192.81	−0.071%	$1.1M	$291K	20x	as long as short
Orderly PERP_SKHY_USDC_mythosshort	+0.0100%	8h	192.79	−0.081%	$2K	$4K	10x
BloFin SKHY-USDT	+0.0120%	8h	192.90	−0.024%	$2.3M	$446K	50x	as long as short
Bitget SKHYUSDT	+0.0131%	8h	192.85	−0.050%	$25.4M	$26.8M	20x	as long as short
Nado SKHY-PERP	+0.0168%	1h	192.75	−0.102%	$38K	$26K	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	+0.0321%	1h	192.89	−0.029%	$49K	$296K	10x	as long as short
Phoenix SKHY	+0.0332%	1h	192.82	−0.066%	$216K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSDlong	+0.0546%	1h	192.95	long leg	$51K	$17K	20x