Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0179%/8h= −19.6% APRpaid last 24h −0.008%

Price spread now: Deribit against OKX+0.081%7-day average +0.023% · 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−$33as in the Price arb table

costs, in and out, $10k−$390.386% of the position

Long on OKX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.047%−$5 on $10k

Price spread, last 4 days (all we have)−0.037%−$4 · spread now +0.081%, 7d avg +0.023%

Together, before fees−0.084%−$8 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.058% dearer against OKX than usual: you sell high and buy low (spread +0.081% now, against its 7-day average of +0.023%): +$6 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 26 hours. At the pace of the last 4 days (−0.047% in total) that is about 4.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SKHY-USDT-SWAP	186.06	0	get 0.0000% / 8h	4m 05s	$44.4M	$80.1M	50x
Short	Deribit SKHY_USDC-PERPETUAL	186.21	−0.0179	pay 0.0022% / 1h	4m 05s	$49K	$348K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against OKX. 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 OKXbpFee DeribitbpOrdersPrice spread, now +0.081%Rate

Funding earned: −$37.68
Price spread: +0.081% → +0.023%: $5.75
Slippage, 4 orders: −$21.65
Fee OKX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$70.58
Costs to cover: 0.386%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; Deribit: live order book, 34 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 OKX live order book, 5 min ago	0.27 bp	6.1 bp −$6	7.8 bp −$78	48.0 bp −$4,804	doesn't fit
Sell Deribit live order book, 34 min ago	6.70 bp	10.2 bp −$10	15.6 bp −$156	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
Bitget SKHYUSDT	−0.1247%	8h	186.37	+0.167%	$25.5M	$33.5M	20x	as long as short
edgeX SKHYUSDC	−0.0562%	4h	186.21	+0.080%	$561K	$290K	10x	as long as short
Kraken Futures PF_SKHYUSD	−0.0266%	1h	186.55	+0.263%	$48K	$21K	20x	as long as short
Deribit SKHY_USDC-PERPETUALshort	−0.0179%	1h	186.21	+0.081%	$49K	$348K	10x
tradeXYZ xyz:SKHY	−0.0125%	1h	186.13	+0.038%	$158.0M	$76.8M	10x	as long as short
Nado SKHY-PERP	−0.0114%	1h	186.27	+0.111%	$33K	$28K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0072%	1h	187.58	+0.817%	$68K	$788K	10x	as long as short
KuCoin SKHYUSDTM	−0.0063%	8h	186.15	+0.048%	$1.1M	$351K	20x	as long as short
QFEX SKHY-USD	−0.0061%	1h	186.19	+0.070%	$1.2M	$4.3M	10x	as long as short
Polymarket Perps SKHY-USD	−0.0037%	1h	186.11	+0.027%	$180K	$486K	10x	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	186.27	+0.112%	$225K	$899K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	186.08	+0.009%	$54K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	186.13	+0.035%	$199.6M	$453.3M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	186.11	+0.027%	$15.9M	$30.6M	100x	as long as short
OKX SKHY-USDT-SWAPlong	0.0000%	8h	186.06	long leg	$44.4M	$80.1M	50x
Gate SKHY_USDT	0.0000%	8h	186.11	+0.027%	$25.5M	$21.2M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	186.18	+0.064%	$1.6M	$1.1M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	186.23	+0.089%	$22K	$239K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	186.45	+0.210%	$682	$6.0M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	186.07	+0.005%	$154K	$363K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	186.16	+0.054%	$1.5M	$1.1M	10x	as long as short
Popdex SKHYUSDT	+0.0008%	1h	186.18	+0.064%	$204K	$287K	20x	as long as short
Lighter SKHY	+0.0016%	1h	186.20	+0.075%	$973K	$1.2M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	186.17	+0.059%	$1.1M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	186.16	+0.054%	$60K	$171K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	186.19	+0.070%	—	$32K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	186.17	+0.059%	$41K	$12K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	186.21	+0.081%	$520K	$2.6M	10x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	186.21	+0.081%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	186.19	+0.070%	$2.2M	$426K	50x	as long as short
Phoenix SKHY	+0.0129%	1h	186.40	+0.183%	$209K	$123K	10x	as long as short