Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h +0.008%

Price spread now: Coinbase International against Gate+1.059%7-day average +0.132% · you sell dearer than you buy

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs+$46as in the Price arb table

costs, in and out, $10k−$470.471% of the position

Long on Gate Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.086%−$9 on $10k

Price spread, last 4 days (all we have)−0.966%−$97 · spread now +1.059%, 7d avg +0.132%

Together, before fees−1.052%−$105 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.927% dearer against Gate than usual: you sell high and buy low (spread +1.059% now, against its 7-day average of +0.132%): +$93 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 30 days. At the pace of the last 7 days (−0.086% in total) that is about 3 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SKHY_USDT	190.82	0	get 0.0000% / 8h	3h 42m	$25.6M	$19.4M	75x
Short	Coinbase International SKHY-PERP-INTX	192.84	−0.0104	pay 0.0013% / 1h	42m 31s	$45K	$861K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Gate. 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 GatebpFee Coinbase InternationalbpOrdersPrice spread, now +1.059%Rate

Funding earned: −$21.84
Price spread: +1.059% → +0.132%: $92.71
Slippage, 4 orders: −$22.08
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $23.78
Costs to cover: 0.471%
Break-even: from the start

Slippage from Gate: live order book, 1 min ago; Coinbase International: 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 Gate live order book, 1 min ago	1.57 bp	13.0 bp −$13	24.3 bp −$243	31.7 bp −$3,170	57.4 bp −$28.7K
Sell Coinbase International live order book, 11 min ago	5.22 bp	10.2 bp −$10	14.9 bp −$149	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	−0.031%	$575K	$291K	10x	as long as short
Coinbase International SKHY-PERP-INTXshort	−0.0104%	1h	192.84	+1.059%	$45K	$861K	10x
Aster SKHYUSDT	0.0000%	8h	190.87	+0.026%	$248K	$892K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	190.76	−0.032%	$56K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	190.87	+0.025%	$200.6M	$402.7M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	190.87	+0.026%	$15.5M	$28.4M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	190.88	+0.031%	$45.6M	$73.1M	50x	as long as short
Gate SKHY_USDTlong	0.0000%	8h	190.82	long leg	$25.6M	$19.4M	75x
Bitget SKHYUSDT	0.0000%	8h	190.93	+0.058%	$24.5M	$28.2M	20x	as long as short
Variational Omni SKHY	0.0000%	8h	190.79	−0.015%	$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	−0.074%	$22K	$211K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	190.99	+0.089%	$699	$6.2M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	190.66	−0.084%	$159K	$369K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	191.03	+0.110%	$1.5M	$1.1M	10x	as long as short
tradeXYZ xyz:SKHY	+0.0005%	1h	190.82	0.000%	$159.5M	$69.1M	10x	as long as short
QFEX SKHY-USD	+0.0011%	1h	190.79	−0.016%	$1.2M	$4.0M	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	+0.0012%	1h	190.72	−0.052%	$48K	$325K	10x	as long as short
Lighter SKHY	+0.0032%	1h	190.71	−0.058%	$1.0M	$691K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	190.75	−0.037%	$1.1M	$1.4M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	190.67	−0.079%	$59K	$164K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	190.80	−0.010%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	190.88	+0.031%	$201K	$257K	20x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	190.79	−0.016%	$182K	$460K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	190.59	−0.121%	$42K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	190.48	−0.178%	$576K	$2.6M	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	190.74	−0.042%	$1.1M	$321K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	190.73	−0.047%	$2K	$4K	10x	as long as short
Nado SKHY-PERP	+0.0106%	1h	190.85	+0.015%	$34K	$28K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	190.73	−0.047%	$2.2M	$436K	50x	as long as short
Phoenix SKHY	+0.0375%	1h	190.77	−0.026%	$214K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0687%	1h	190.80	−0.009%	$48K	$19K	20x	as long as short