Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0072%/8h= −7.9% APRpaid last 24h +0.015%

Price spread now: Coinbase International against Phemex+0.078%7-day average +0.108% · you sell dearer than you buy

Net, funding: paid 7d − costs−$131as in the Funding arb table

Net, price: spread back to 7d avg − costs−$124as in the Price arb table

costs, in and out, $10k−$1211.215% of the position

Long on Phemex Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.091%−$9 on $10k

Price spread, last 3 days (all we have)−0.089%−$9 · spread now +0.078%, 7d avg +0.108%

Together, before fees−0.181%−$18 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Coinbase International is 0.030% cheaper against Phemex than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.108%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SKHYUSDT	192.75	0	get 0.0000% / 8h	6h 37m	$1.5M	$1.1M	10x
Short	Coinbase International SKHY-PERP-INTX	192.90	−0.0072	pay 0.0009% / 1h	37m 33s	$45K	$874K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Phemex. 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 PhemexbpFee Coinbase InternationalbpOrdersPrice spread, now +0.078%Rate

Funding earned: −$15.12
Price spread: +0.078% → +0.108%: −$2.97
Slippage, 4 orders: −$99.49
Fee Phemex: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$139.58
Costs to cover: 1.215%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; Coinbase International: live order book, 31 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 Phemex live order book, 5 min ago	2.33 bp	54.8 bp −$55	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 31 min ago	7.24 bp	12.3 bp −$12	18.2 bp −$182	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	−0.0874%	4h	192.69	−0.029%	$581K	$290K	10x	as long as short
Coinbase International SKHY-PERP-INTXshort	−0.0072%	1h	192.90	+0.078%	$45K	$874K	10x
Aster SKHYUSDT	0.0000%	8h	192.75	−0.001%	$248K	$890K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	192.69	−0.029%	$56K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	192.71	−0.023%	$210.1M	$385.3M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	192.67	−0.042%	$15.6M	$27.2M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	192.65	−0.052%	$46.7M	$69.0M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	192.66	−0.047%	$25.8M	$18.8M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	192.94	+0.096%	$1.6M	$2.2M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	192.71	−0.019%	$22K	$192K	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-USDT	0.0000%	8h	193.05	+0.156%	$707	$6.6M	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	0.0000%	1h	192.72	−0.016%	$48K	$270K	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	192.69	−0.031%	$160K	$376K	50x	as long as short
Phemex SKHYUSDTlong	0.0000%	8h	192.75	long leg	$1.5M	$1.1M	10x
QFEX SKHY-USD	+0.0002%	1h	192.64	−0.057%	$1.2M	$4.6M	10x	as long as short
Nado SKHY-PERP	+0.0026%	1h	192.72	−0.017%	$42K	$21K	10x	as long as short
Lighter SKHY	+0.0032%	1h	192.57	−0.093%	$1.0M	$683K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	192.59	−0.083%	$1.1M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	192.77	+0.010%	$57K	$154K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	192.66	−0.047%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	192.66	−0.047%	$197K	$257K	20x	as long as short
tradeXYZ xyz:SKHY	+0.0050%	1h	192.65	−0.052%	$162.7M	$65.3M	10x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	192.55	−0.104%	$188K	$456K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	192.70	−0.026%	$43K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	192.91	+0.083%	$533K	$1.8M	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	192.75	0.000%	$1.1M	$279K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	192.75	0.000%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	193.08	+0.171%	$2.3M	$445K	50x	as long as short
Phoenix SKHY	+0.0331%	1h	192.94	+0.099%	$216K	$123K	10x	as long as short
Bitget SKHYUSDT	+0.0353%	8h	192.72	−0.016%	$25.5M	$26.4M	20x	as long as short
Kraken Futures PF_SKHYUSD	+0.0707%	1h	192.81	+0.030%	$51K	$17K	20x	as long as short