Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.012%

Price spread now: Arcus against Bybit+0.021%46s7-day average −0.021% · 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—prices read too far apart to compare

costs, in and out, $10k−$380.376% of the position

Long on Bybit Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.039%+$4 on $10k

Price spread, last 4 days (all we have)+0.012%+$1 · spread now +0.021%, 7d avg −0.021%

Together, before fees+0.051%+$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Arcus is 0.042% dearer against Bybit than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.021%. The two prices were read 46 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	Bybit SKHYUSDT	190.63	0	get 0.0000% / 8h	3h 41m	$15.4M	$28.4M	100x
Short	Arcus SKHY-USD	190.67	0.0040	get 0.0005% / 1h	41m 46s	$59K	$164K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Bybit. 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 BybitbpFee ArcusbpOrdersPrice spread, now +0.021%Rate

Funding earned: $8.46
Price spread: +0.021% → −0.021%: $4.22
Slippage, 4 orders: −$22.11
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$24.94
Costs to cover: 0.376%
Break-even: 27.6 days

Slippage from Bybit: live order book, 2 min ago; Arcus: live order book, 11 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 Bybit live order book, 2 min ago	0.26 bp	8.3 bp −$8	14.6 bp −$146	89.1 bp −$8,914	doesn't fit
Sell Arcus live order book, 11 min ago	6.53 bp	11.1 bp −$11	18.8 bp −$188	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	−0.0765%	4h	190.76	+0.069%	$575K	$291K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0104%	1h	192.84	+1.159%	$45K	$861K	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	190.81	+0.096%	$248K	$892K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	190.77	+0.074%	$56K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	190.59	−0.023%	$200.3M	$402.9M	50x	as long as short
Bybit SKHYUSDTlong	0.0000%	8h	190.63	long leg	$15.4M	$28.4M	100x
OKX SKHY-USDT-SWAP	0.0000%	8h	190.53	−0.052%	$45.5M	$72.9M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	190.63	0.000%	$25.6M	$19.4M	75x	as long as short
Bitget SKHYUSDT	0.0000%	8h	190.76	+0.068%	$24.5M	$28.3M	20x	as long as short
Variational Omni SKHY	0.0000%	8h	190.79	+0.085%	$1.6M	$1.1M	—	as long as short

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	190.68	+0.025%	$22K	$211K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	191.19	+0.294%	$700	$6.2M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	190.80	+0.089%	$159K	$369K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	191.05	+0.220%	$1.5M	$1.1M	10x	as long as short
tradeXYZ xyz:SKHY	+0.0004%	1h	190.53	−0.052%	$159.3M	$69.1M	10x	as long as short
QFEX SKHY-USD	+0.0011%	1h	190.79	+0.084%	$1.2M	$4.0M	10x	as long as short
Lighter SKHY	+0.0032%	1h	190.48	−0.079%	$1.0M	$691K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	190.49	−0.073%	$1.1M	$1.4M	10x	as long as short
Arcus SKHY-USDshort	+0.0040%	1h	190.67	+0.021%	$59K	$164K	10x
Vest SKHY-USD-PERP	+0.0046%	1h	190.80	+0.089%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	190.88	+0.131%	$201K	$257K	20x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	190.79	+0.084%	$182K	$460K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	190.78	+0.079%	$42K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	190.48	−0.079%	$576K	$2.6M	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	+0.0064%	1h	190.88	+0.131%	$48K	$325K	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	190.73	+0.052%	$1.1M	$321K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	190.89	+0.136%	$2K	$4K	10x	as long as short
Nado SKHY-PERP	+0.0106%	1h	190.85	+0.114%	$34K	$28K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	190.73	+0.052%	$2.2M	$436K	50x	as long as short
Phoenix SKHY	+0.0375%	1h	190.77	+0.073%	$214K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0686%	1h	191.00	+0.196%	$48K	$19K	20x	as long as short