Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0283%/8h= +31.0% APRpaid last 24h +0.007%

Price spread now: Gate against Deribit−0.053%7-day average −0.038% · 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−$57as in the Price arb table

costs, in and out, $10k−$550.550% of the position

Long on Deribit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.009%+$1 on $10k

Price spread, last 4 days (all we have)+0.009%+$1 · spread now −0.053%, 7d avg −0.038%

Together, before fees+0.018%+$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.038%, so right now this pair is about funding alone: +$8 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.009% in total (about 0.8% 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	Deribit SKHY_USDC-PERPETUAL	187.51	−0.0283	get 0.0035% / 1h	52m 28s	$48K	$337K	10x
Short	Gate SKHY_USDT	187.41	0	get 0.0000% / 8h	1h 52m	$25.3M	$20.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Deribit. 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 DeribitbpFee GatebpOrdersPrice spread, now −0.053%Rate

Funding earned: $59.43
Price spread: −0.053% → −0.038%: −$1.56
Slippage, 4 orders: −$32.96
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $2.92
Costs to cover: 0.550%
Break-even: 6.7 days

Slippage from Deribit: live order book, 56 min ago; Gate: live order book, 1 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 Deribit live order book, 56 min ago	10.33 bp	14.8 bp −$15	18.5 bp −$185	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	1.07 bp	12.3 bp −$12	24.9 bp −$249	50.3 bp −$5,029	86.6 bp −$43.3K

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	−0.1068%	8h	187.57	+0.032%	$25.1M	$31.6M	20x	as long as short
Deribit SKHY_USDC-PERPETUALlong	−0.0283%	1h	187.51	long leg	$48K	$337K	10x
tradeXYZ xyz:SKHY	−0.0204%	1h	187.34	−0.091%	$159.0M	$74.1M	10x	as long as short
Nado SKHY-PERP	−0.0179%	1h	187.58	+0.038%	$33K	$28K	10x	as long as short
Polymarket Perps SKHY-USD	−0.0179%	1h	187.31	−0.107%	$181K	$487K	10x	as long as short
Popdex SKHYUSDT	−0.0152%	1h	187.42	−0.048%	$197K	$274K	20x	as long as short
Kraken Futures PF_SKHYUSD	−0.0138%	1h	187.47	−0.020%	$47K	$19K	20x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0104%	1h	187.75	+0.128%	$63K	$902K	10x	as long as short
Lighter SKHY	−0.0096%	1h	187.38	−0.069%	$946K	$1.1M	10x	as long as short
Ondo Perps SKHY-USD.P	−0.0054%	1h	187.30	−0.112%	$517K	$2.6M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX SKHY-USD	−0.0049%	1h	187.42	−0.048%	$1.2M	$4.1M	10x	as long as short
edgeX SKHYUSDC	−0.0044%	4h	187.50	−0.006%	$565K	$290K	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	187.52	+0.006%	$227K	$916K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	187.39	−0.064%	$55K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	187.41	−0.053%	$200.8M	$435.8M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	187.45	−0.032%	$15.9M	$30.4M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	187.41	−0.053%	$44.7M	$77.5M	50x	as long as short
Gate SKHY_USDTshort	0.0000%	8h	187.41	−0.053%	$25.3M	$20.1M	75x
Variational Omni SKHY	0.0000%	8h	187.55	+0.022%	$1.6M	$1.0M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	187.52	+0.005%	$22K	$226K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	187.76	+0.133%	$687	$6.1M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	187.39	−0.064%	$155K	$370K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	187.44	−0.037%	$1.5M	$1.1M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	187.38	−0.069%	$1.1M	$1.6M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	187.52	+0.005%	$58K	$164K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	187.51	0.000%	—	$23K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	187.45	−0.032%	$41K	$13K	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	187.54	+0.016%	$1.1M	$326K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	187.47	−0.021%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	187.41	−0.053%	$2.2M	$419K	50x	as long as short
Phoenix SKHY	+0.0213%	1h	188.26	+0.400%	$211K	$115K	10x	as long as short