Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0039%/8h= −4.3% APRpaid last 24h −0.039%

Price spread now: Deribit against Orderly+0.041%55s7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Deribit

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—needs both histories

The price spread pays, funding is against you. Deribit is 0.041% dearer against Orderly than usual: you sell high and buy low (spread +0.041% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.5 days. 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	Orderly PERP_SKHY_USDC_mythos	192.88	0.0100	pay 0.0100% / 8h	5h 49m	$2K	$4K	10x
Short	Deribit SKHY_USDC-PERPETUAL	192.96	0.0061	get 0.0008% / 1h	49m 24s	$48K	$285K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Orderly. 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 OrderlybpFee DeribitbpOrdersPrice spread, now +0.041%Rate

Funding earned: −$8.18
Price spread: +0.041% → 0.000%: $4.15
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$17.03
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Deribit: live order book, 14 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 Orderly no order-book sample	—	—	—	—	—
Sell Deribit live order book, 14 min ago	5.96 bp	17.1 bp −$17	20.2 bp −$202	doesn't fit	doesn't fit

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 30 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	−0.0107%	4h	193.03	+0.077%	$582K	$290K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0032%	1h	192.90	+0.010%	$45K	$874K	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	192.80	−0.039%	$248K	$890K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	192.82	−0.031%	$56K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	192.86	−0.010%	$208.3M	$385.3M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	192.89	+0.005%	$15.7M	$27.3M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	192.91	+0.016%	$46.9M	$69.2M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	192.82	−0.031%	$25.8M	$18.9M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	193.08	+0.102%	$1.6M	$1.3M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	193.09	+0.109%	$22K	$193K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX SKHY-USDT	0.0000%	8h	193.23	+0.181%	$707	$6.4M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	192.88	0.000%	$160K	$368K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	192.89	+0.005%	$1.5M	$1.1M	10x	as long as short
QFEX SKHY-USD	+0.0004%	1h	192.85	−0.016%	$1.2M	$4.3M	10x	as long as short
Lighter SKHY	+0.0032%	1h	192.81	−0.036%	$1.0M	$685K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	192.87	−0.005%	$1.1M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	192.99	+0.057%	$57K	$154K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	192.91	+0.016%	—	$11K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	192.91	+0.016%	$198K	$255K	20x	as long as short
tradeXYZ xyz:SKHY	+0.0050%	1h	192.79	−0.047%	$162.0M	$66.3M	10x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	192.78	−0.052%	$188K	$456K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	192.93	+0.026%	$43K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	192.91	+0.016%	$569K	$2.1M	10x	as long as short
Deribit SKHY_USDC-PERPETUALshort	+0.0061%	1h	192.96	+0.041%	$48K	$285K	10x
KuCoin SKHYUSDTM	+0.0100%	8h	192.87	−0.005%	$1.1M	$290K	20x	as long as short
Orderly PERP_SKHY_USDC_mythoslong	+0.0100%	8h	192.88	long leg	$2K	$4K	10x
Nado SKHY-PERP	+0.0127%	1h	192.85	−0.015%	$38K	$26K	10x	as long as short
Bitget SKHYUSDT	+0.0218%	8h	192.90	+0.010%	$25.6M	$26.4M	20x	as long as short
Phoenix SKHY	+0.0332%	1h	193.23	+0.181%	$216K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0546%	1h	193.07	+0.097%	$51K	$17K	20x	as long as short