Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0649%/8h= −71.0% APRpaid last 24h −0.045%

Price spread now: Deribit against Orderly−0.075%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$19 a day on $10k at the current rate, and Deribit is 0.075% cheaper against Orderly than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_SKHY_USDC_mythos	187.77	0.0100	pay 0.0100% / 8h	4h 56m	$2K	$4K	10x
Short	Deribit SKHY_USDC-PERPETUAL	187.63	−0.0549	pay 0.0069% / 1h	56m 41s	$51K	$495K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Orderly. 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 OrderlybpFee DeribitbpOrdersPrice spread, now −0.075%Rate

Funding earned: −$136.25
Price spread: −0.075% → 0.000%: −$7.46
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$156.71
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Deribit: live order book, 50 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 Orderly no order-book sample	—	—	—	—	—
Sell Deribit live order book, 50 min ago	5.59 bp	9.6 bp −$10	13.3 bp −$133	doesn't fit	doesn't fit

Orderly: 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 exchanges

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
Kraken Futures PF_SKHYUSD	−0.2056%	1h	187.76	−0.004%	$51K	$36K	20x	as long as short
edgeX SKHYUSDC	−0.0578%	4h	187.94	+0.090%	$566K	$285K	10x	as long as short
Deribit SKHY_USDC-PERPETUALshort	−0.0549%	1h	187.63	−0.075%	$51K	$495K	10x
Bitget SKHYUSDT	−0.0281%	8h	187.70	−0.037%	$26.1M	$36.5M	20x	as long as short
Nado SKHY-PERP	−0.0216%	1h	187.88	+0.060%	$32K	$28K	10x	as long as short
KuCoin SKHYUSDTM	−0.0205%	8h	187.73	−0.021%	$1.1M	$515K	20x	as long as short
tradeXYZ xyz:SKHY	−0.0140%	1h	187.68	−0.048%	$158.4M	$77.5M	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0096%	1h	187.65	−0.064%	$110K	$739K	10x	as long as short
Ondo Perps SKHY-USD.P	−0.0070%	1h	187.96	+0.101%	$523K	$2.5M	10x	as long as short
Lighter SKHY	−0.0048%	1h	187.53	−0.128%	$981K	$1.4M	10x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps SKHY-USD	−0.0034%	1h	187.66	−0.059%	$182K	$342K	10x	as long as short
Binance SKHYUSDT	−0.0016%	8h	187.66	−0.060%	$197.6M	$471.8M	50x	as long as short
Extended SKHY-USD	−0.0016%	1h	187.59	−0.095%	$55K	$7K	10x	as long as short
Popdex SKHYUSDT	−0.0016%	1h	187.63	−0.075%	$200K	$310K	20x	as long as short
QFEX SKHY-USD	−0.0013%	1h	187.59	−0.096%	$1.2M	$4.2M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	187.61	−0.088%	$260K	$916K	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	187.77	0.000%	$16.4M	$33.9M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	187.66	−0.059%	$44.5M	$85.5M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	187.60	−0.091%	$25.3M	$21.3M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	187.74	−0.019%	$1.5M	$954K	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	187.78	+0.006%	$22K	$255K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	187.99	+0.117%	$688	$5.4M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	187.68	−0.048%	$154K	$383K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	187.78	+0.005%	$1.5M	$1.1M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	187.49	−0.149%	$1.1M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	187.61	−0.085%	$60K	$131K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	187.78	+0.005%	—	$40K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	187.77	0.000%	$41K	$12K	10x	as long as short
Orderly PERP_SKHY_USDC_mythoslong	+0.0100%	8h	187.77	long leg	$2K	$4K	10x
BloFin SKHY-USDT	+0.0110%	8h	187.74	−0.016%	$2.2M	$490K	50x	as long as short
Phoenix SKHY	+0.0255%	1h	188.00	+0.122%	$211K	$123K	10x	as long as short