Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0024%/8h= +2.6% APRpaid last 24h −0.006%

Price spread now: OKX against Coinbase International+0.267%7-day average −0.125% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$2as in the Price arb table

costs, in and out, $10k−$410.410% of the position

Long on Coinbase International Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.107%+$11 on $10k

Price spread, last 4 days (all we have)−0.298%−$30 · spread now +0.267%, 7d avg −0.125%

Together, before fees−0.191%−$19 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 OKX is 0.392% dearer against Coinbase International than usual: you sell high and buy low: +$39 more if the spread goes back to its 7-day average of −0.125%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International SKHY-PERP-INTX	187.32	−0.0024	get 0.0003% / 1h	10m 08s	$61K	$897K	10x
Short	OKX SKHY-USDT-SWAP	187.82	0	get 0.0000% / 8h	2h 10m	$44.7M	$77.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Coinbase International. 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 Coinbase InternationalbpFee OKXbpOrdersPrice spread, now +0.267%Rate

Funding earned: $5.04
Price spread: +0.267% → −0.125%: $39.15
Slippage, 4 orders: −$20.98
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: $3.21
Costs to cover: 0.410%
Break-even: 2.5 days

Slippage from Coinbase International: live order book, 38 min ago; OKX: live order book, 4 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 Coinbase International live order book, 38 min ago	9.81 bp	15.1 bp −$15	20.5 bp −$205	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	0.27 bp	5.5 bp −$6	8.4 bp −$84	33.1 bp −$3,310	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	−0.1210%	8h	187.78	+0.246%	$25.1M	$31.3M	20x	as long as short
edgeX SKHYUSDC	−0.0332%	4h	187.06	−0.139%	$564K	$290K	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	−0.0229%	1h	187.62	+0.160%	$48K	$336K	10x	as long as short
Nado SKHY-PERP	−0.0146%	1h	187.70	+0.204%	$33K	$28K	10x	as long as short
tradeXYZ xyz:SKHY	−0.0118%	1h	187.70	+0.203%	$159.3M	$74.2M	10x	as long as short
Polymarket Perps SKHY-USD	−0.0093%	1h	187.55	+0.123%	$181K	$487K	10x	as long as short
Coinbase International SKHY-PERP-INTXlong	−0.0024%	1h	187.32	long leg	$61K	$897K	10x
QFEX SKHY-USD	−0.0014%	1h	187.56	+0.128%	$1.2M	$4.1M	10x	as long as short
Ondo Perps SKHY-USD.P	−0.0011%	1h	187.45	+0.069%	$516K	$2.6M	10x	as long as short
Lighter SKHY	−0.0008%	1h	187.66	+0.182%	$930K	$1.1M	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	187.82	+0.269%	$229K	$916K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	187.56	+0.127%	$55K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	187.73	+0.219%	$201.4M	$433.4M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	187.80	+0.256%	$15.9M	$30.2M	100x	as long as short
OKX SKHY-USDT-SWAPshort	0.0000%	8h	187.82	+0.267%	$44.7M	$77.4M	50x
Gate SKHY_USDT	0.0000%	8h	187.72	+0.214%	$25.3M	$20.8M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	187.51	+0.103%	$1.6M	$1.0M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	186.93	−0.208%	$22K	$223K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	187.85	+0.283%	$688	$6.2M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	187.50	+0.096%	$155K	$371K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	187.66	+0.182%	$1.5M	$1.1M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	187.64	+0.171%	$1.1M	$1.6M	10x	as long as short
Popdex SKHYUSDT	+0.0032%	1h	187.62	+0.160%	$196K	$273K	20x	as long as short
Arcus SKHY-USD	+0.0040%	1h	187.27	−0.027%	$58K	$164K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	187.66	+0.182%	—	$12K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	187.52	+0.107%	$41K	$13K	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	187.65	+0.176%	$1.1M	$322K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	187.64	+0.171%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	187.63	+0.165%	$2.1M	$416K	50x	as long as short
Phoenix SKHY	+0.0254%	1h	187.27	−0.027%	$210K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0261%	1h	187.68	+0.193%	$47K	$19K	20x	as long as short