Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0023%/8h= −2.5% APRpaid last 24h −0.005%

Price spread now: Deribit against Bitget−0.084%7-day average +0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$460.457% of the position

Long on Bitget Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.016%−$2 on $10k

Price spread, last 4 days (all we have)+0.063%+$6 · spread now −0.084%, 7d avg +0.013%

Together, before fees+0.047%+$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Deribit is 0.097% cheaper against Bitget than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.013%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SKHYUSDT	189.35	−0.0044	get 0.0044% / 8h	3h 17m	$24.2M	$29.1M	20x
Short	Deribit SKHY_USDC-PERPETUAL	189.19	−0.0067	pay 0.0008% / 1h	17m 37s	$48K	$328K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.084%Rate

Funding earned: −$4.84
Price spread: −0.084% → +0.013%: −$9.7
Slippage, 4 orders: −$26.74
Fee Bitget: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$60.28
Costs to cover: 0.457%
Break-even: never at this rate

Slippage from Bitget: live order book, 1 min ago; Deribit: live order book, 36 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, 1 min ago	0.79 bp	8.7 bp −$9	17.5 bp −$175	29.0 bp −$2,904	48.4 bp −$24.2K
Sell Deribit live order book, 36 min ago	4.17 bp	19.2 bp −$19	22.6 bp −$226	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
edgeX SKHYUSDC	−0.0627%	4h	189.69	+0.181%	$572K	$291K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0104%	1h	189.86	+0.269%	$36K	$876K	10x	as long as short
Deribit SKHY_USDC-PERPETUALshort	−0.0067%	1h	189.19	−0.084%	$48K	$328K	10x
Bitget SKHYUSDTlong	−0.0044%	8h	189.35	long leg	$24.2M	$29.1M	20x
tradeXYZ xyz:SKHY	−0.0020%	1h	189.29	−0.032%	$158.6M	$69.7M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	189.38	+0.018%	$245K	$894K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	189.24	−0.056%	$55K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	189.33	−0.011%	$199.7M	$409.3M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	189.32	−0.016%	$15.4M	$28.8M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	189.34	−0.005%	$44.9M	$73.4M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate SKHY_USDT	0.0000%	8h	189.27	−0.042%	$25.3M	$19.8M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	189.71	+0.191%	$1.6M	$1.1M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	189.69	+0.177%	$22K	$216K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	189.48	+0.069%	$694	$6.2M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	189.20	−0.079%	$158K	$368K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	189.23	−0.063%	$1.5M	$1.1M	10x	as long as short
QFEX SKHY-USD	+0.0011%	1h	189.32	−0.016%	$1.2M	$4.1M	10x	as long as short
Lighter SKHY	+0.0024%	1h	189.21	−0.074%	$997K	$730K	10x	as long as short
Nado SKHY-PERP	+0.0032%	1h	189.28	−0.036%	$33K	$28K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	189.25	−0.053%	$1.0M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	189.39	+0.021%	$58K	$164K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	189.30	−0.026%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	189.35	0.000%	$200K	$258K	20x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	189.12	−0.121%	$183K	$470K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	189.19	−0.084%	$42K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	189.47	+0.063%	$528K	$2.6M	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	189.38	+0.016%	$1.1M	$315K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	189.17	−0.095%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	189.45	+0.053%	$2.2M	$436K	50x	as long as short
Phoenix SKHY	+0.0375%	1h	189.58	+0.121%	$212K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0692%	1h	189.22	−0.068%	$48K	$19K	20x	as long as short