Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0689%/8h= −75.4% APRpaid last 24h −0.174%

Price spread now: Variational Omni against Kraken Futures+0.136%58s7-day average — · you sell dearer than you buy

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

Long on Kraken Futures Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.136% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.136% now, against zero (this spread has no 7-day history yet)): +$14 on $10k if it goes back. Holding the pair costs −$21 a day in funding at the current rate, which eats that in about 16 hours. 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	Kraken Futures PF_SKHYUSD	190.21	0.0689	pay 0.0086% / 1h	39m 20s	$48K	$19K	20x
Short	Variational Omni SKHY	190.47	0	get 0.0000% / 8h	3h 39m	$1.6M	$1.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.136%Rate

Funding earned: −$144.64
Price spread: +0.136% → 0.000%: $13.64
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$140.99
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Kraken Futures: no order-book sample; Variational Omni: RFQ quote, 5 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 Variational Omni RFQ quote, 5 min ago	2.23 bp	doesn't fit	3.5 bp −$35	doesn't fit	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
edgeX SKHYUSDC	−0.0799%	4h	190.46	+0.129%	$574K	$290K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0104%	1h	192.84	+1.382%	$45K	$861K	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	190.04	−0.092%	$247K	$893K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	189.97	−0.129%	$55K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	189.91	−0.157%	$199.6M	$403.9M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	189.91	−0.159%	$15.3M	$28.6M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	189.82	−0.206%	$45.4M	$72.8M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	189.85	−0.190%	$25.6M	$19.4M	75x	as long as short
Bitget SKHYUSDT	0.0000%	8h	190.12	−0.048%	$24.4M	$28.3M	20x	as long as short
Variational Omni SKHYshort	0.0000%	8h	190.47	+0.136%	$1.6M	$1.1M	—

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT SKHY_USDT_Perp	0.0000%	8h	190.25	+0.018%	$22K	$211K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	190.46	+0.130%	$697	$6.2M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	190.08	−0.070%	$159K	$369K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	190.15	−0.033%	$1.5M	$1.1M	10x	as long as short
tradeXYZ xyz:SKHY	+0.0002%	1h	189.85	−0.190%	$158.7M	$69.0M	10x	as long as short
QFEX SKHY-USD	+0.0011%	1h	189.96	−0.133%	$1.2M	$4.1M	10x	as long as short
Lighter SKHY	+0.0032%	1h	189.84	−0.196%	$1.0M	$691K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	189.93	−0.148%	$1.1M	$1.4M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	190.37	+0.083%	$59K	$164K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	190.02	−0.101%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	189.93	−0.148%	$200K	$257K	20x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	189.90	−0.164%	$183K	$470K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	190.13	−0.043%	$42K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	189.99	−0.117%	$563K	$2.7M	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	+0.0066%	1h	190.18	−0.017%	$48K	$326K	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	190.04	−0.091%	$1.1M	$320K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	189.89	−0.169%	$2K	$4K	10x	as long as short
Nado SKHY-PERP	+0.0104%	1h	190.04	−0.089%	$34K	$28K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	190.36	+0.078%	$2.2M	$435K	50x	as long as short
Phoenix SKHY	+0.0375%	1h	190.44	+0.120%	$213K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSDlong	+0.0689%	1h	190.21	long leg	$48K	$19K	20x