Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.1057%/8h= −115.8% APRpaid last 24h −0.165%

Price spread now: SunX against Kraken Futures+0.132%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Kraken Futures Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.701%−$70 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. SunX is 0.132% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.132% now, against zero (this spread has no 7-day history yet)): +$13 on $10k if it goes back. Holding the pair costs −$32 a day in funding at the current rate, which eats that in about 10 hours. At the pace of the last 7 days (−0.701% in total) that is about 32 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.701% in total (about -36.6% 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	Kraken Futures PF_SKHYUSD	193.26	0.1057	pay 0.0132% / 1h	33m 08s	$49K	$19K	20x
Short	SunX SKHY-USDT	193.51	0	get 0.0000% / 8h	4h 33m	$708	$6.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Kraken Futures. 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 Kraken FuturesbpFee SunXbpOrdersPrice spread, now +0.132%Rate

Funding earned: −$222.01
Price spread: +0.132% → 0.000%: $13.17
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$226.85
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; SunX: live order book, 6 min ago. Net counts fees only.

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 Kraken Futures no order-book sample	—	—	—	—	—
Sell SunX live order book, 6 min ago	29.49 bp	72.4 bp −$72	doesn't fit	doesn't fit	doesn't fit

Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0743%	4h	193.10	−0.082%	$582K	$291K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0048%	1h	192.84	−0.215%	$45K	$861K	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	193.14	−0.058%	$249K	$889K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	193.15	−0.054%	$56K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	193.13	−0.065%	$204.3M	$392.9M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	193.15	−0.055%	$15.7M	$27.5M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	193.10	−0.080%	$46.6M	$69.8M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	193.11	−0.075%	$25.8M	$18.8M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	193.08	−0.090%	$1.6M	$1.1M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	193.12	−0.071%	$22K	$202K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX SKHY-USDTshort	0.0000%	8h	193.51	+0.132%	$708	$6.3M	10x
HTX SKHY-USDT	0.0000%	8h	193.09	−0.086%	$161K	$367K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	193.14	−0.060%	$1.5M	$1.1M	10x	as long as short
QFEX SKHY-USD	+0.0015%	1h	193.18	−0.039%	$1.2M	$4.1M	10x	as long as short
Lighter SKHY	+0.0032%	1h	193.02	−0.122%	$1.0M	$686K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	193.01	−0.127%	$1.1M	$1.6M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	193.07	−0.096%	$57K	$154K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	193.14	−0.060%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	193.23	−0.013%	$201K	$255K	20x	as long as short
tradeXYZ xyz:SKHY	+0.0050%	1h	193.04	−0.112%	$161.5M	$67.7M	10x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	193.13	−0.065%	$189K	$456K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	193.10	−0.080%	$43K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	193.14	−0.060%	$574K	$2.3M	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	193.12	−0.070%	$1.1M	$305K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	193.20	−0.029%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	193.12	−0.070%	$2.2M	$437K	50x	as long as short
Nado SKHY-PERP	+0.0139%	1h	193.18	−0.040%	$38K	$26K	10x	as long as short
Bitget SKHYUSDT	+0.0158%	8h	193.14	−0.060%	$25.3M	$26.9M	20x	as long as short
Deribit SKHY_USDC-PERPETUAL	+0.0164%	1h	193.23	−0.013%	$49K	$318K	10x	as long as short
Phoenix SKHY	+0.0372%	1h	193.29	+0.018%	$217K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSDlong	+0.1057%	1h	193.26	long leg	$49K	$19K	20x