Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.1305%/8h= +142.9% APRpaid last 24h +0.001%

Price spread now: Coinbase International against Bitget+0.520%7-day average +0.116% · you sell dearer than you buy

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs+$1as in the Price arb table

costs, in and out, $10k−$390.391% of the position

Long on Bitget Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.119%−$12 on $10k

Price spread, last 4 days (all we have)−0.566%−$57 · spread now +0.520%, 7d avg +0.116%

Together, before fees−0.685%−$68 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$39 a day on $10k at the current rate, and Coinbase International is 0.403% dearer against Bitget than usual: you sell high and buy low: +$40 more if the spread goes back to its 7-day average of +0.116%. Mind the row above: over the last 7 days funding on this pair cost −0.119%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.119% in total (about -6.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SKHYUSDT	186.61	−0.1377	get 0.1377% / 8h	50m 05s	$25.4M	$32.9M	20x
Short	Coinbase International SKHY-PERP-INTX	187.58	−0.0072	pay 0.0009% / 1h	50m 05s	$68K	$905K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bitget. 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 BitgetbpFee Coinbase InternationalbpOrdersPrice spread, now +0.520%Rate

Funding earned: $274.05
Price spread: +0.520% → +0.116%: $40.34
Slippage, 4 orders: −$17.1
Fee Bitget: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $275.29
Costs to cover: 0.391%
Break-even: from the start

Slippage from Bitget: live order book, 4 min ago; Coinbase International: live order book, 53 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 Bitget live order book, 4 min ago	0.27 bp	8.3 bp −$8	8.9 bp −$89	14.2 bp −$1,422	37.1 bp −$18.6K
Sell Coinbase International live order book, 53 min ago	5.89 bp	10.9 bp −$11	19.1 bp −$191	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 SKHYUSDTlong	−0.1377%	8h	186.61	long leg	$25.4M	$32.9M	20x
edgeX SKHYUSDC	−0.0889%	4h	186.25	−0.195%	$561K	$290K	10x	as long as short
Popdex SKHYUSDT	−0.0312%	1h	186.39	−0.118%	$205K	$287K	20x	as long as short
tradeXYZ xyz:SKHY	−0.0306%	1h	186.53	−0.043%	$158.5M	$76.9M	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	−0.0286%	1h	186.53	−0.043%	$49K	$346K	10x	as long as short
Kraken Futures PF_SKHYUSD	−0.0266%	1h	186.51	−0.052%	$48K	$21K	20x	as long as short
Nado SKHY-PERP	−0.0233%	1h	186.51	−0.051%	$33K	$28K	10x	as long as short
Polymarket Perps SKHY-USD	−0.0212%	1h	186.25	−0.193%	$180K	$487K	10x	as long as short
Lighter SKHY	−0.0104%	1h	186.45	−0.086%	$975K	$1.2M	10x	as long as short
Coinbase International SKHY-PERP-INTXshort	−0.0072%	1h	187.58	+0.520%	$68K	$905K	10x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX SKHY-USD	−0.0061%	1h	186.37	−0.129%	$1.2M	$4.3M	10x	as long as short
Ondo Perps SKHY-USD.P	−0.0044%	1h	186.24	−0.198%	$520K	$2.6M	10x	as long as short
KuCoin SKHYUSDTM	−0.0015%	8h	186.42	−0.102%	$1.1M	$326K	20x	as long as short
Aster SKHYUSDT	0.0000%	8h	186.67	+0.034%	$224K	$925K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	186.41	−0.106%	$54K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	186.56	−0.027%	$200.5M	$450.0M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	186.52	−0.048%	$16.7M	$29.6M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	186.51	−0.054%	$44.5M	$79.1M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	186.52	−0.048%	$25.5M	$20.9M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	186.25	−0.194%	$1.6M	$1.0M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	186.21	−0.216%	$22K	$232K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	186.69	+0.043%	$683	$6.1M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	186.42	−0.102%	$155K	$363K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	186.53	−0.043%	$1.5M	$1.1M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	186.45	−0.086%	$1.1M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	186.22	−0.209%	$60K	$171K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	186.40	−0.113%	—	$32K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	186.35	−0.139%	$41K	$12K	10x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	186.46	−0.080%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	186.32	−0.155%	$2.2M	$423K	50x	as long as short
Phoenix SKHY	+0.0129%	1h	186.38	−0.123%	$209K	$123K	10x	as long as short