Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0689%/8h= +75.4% APRpaid last 24h +0.174%

Price spread now: Kraken Futures against Phemex−0.035%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.712%+$71 on $10k

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

Together, before fees—needs both histories

Funding pays, the price is against you. Kraken Futures is 0.035% cheaper against Phemex than usual: you would sell low and buy high (spread −0.035% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 4 hours of funding at the current rate (+$21 a day). At the pace of the last 7 days (+0.712% in total) that is about 8 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SKHYUSDT	190.20	0	get 0.0000% / 8h	3h 37m	$1.5M	$1.1M	10x
Short	Kraken Futures PF_SKHYUSD	190.13	0.0689	get 0.0086% / 1h	37m 01s	$48K	$19K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.035%Rate

Funding earned: $144.7
Price spread: −0.035% → 0.000%: −$3.54
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $119.15
Costs to cover: 0.220%
Break-even: 1.2 days

Slippage unknown: Phemex: live order book, 1 min ago; Kraken Futures: no order-book sample. 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 Phemex live order book, 1 min ago	2.11 bp	38.7 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

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	−0.0312%	4h	189.89	−0.164%	$572K	$290K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0104%	1h	192.84	+1.388%	$45K	$861K	10x	as long as short
tradeXYZ xyz:SKHY	−0.0003%	1h	190.15	−0.026%	$159.0M	$69.1M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	190.15	−0.027%	$247K	$893K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	190.15	−0.026%	$55K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	190.22	+0.011%	$199.8M	$404.4M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	190.23	+0.016%	$15.3M	$28.6M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	190.16	−0.021%	$45.1M	$73.2M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	190.14	−0.032%	$25.6M	$19.5M	75x	as long as short
Bitget SKHYUSDT	0.0000%	8h	190.22	+0.011%	$24.4M	$28.4M	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SKHY	0.0000%	8h	190.47	+0.143%	$1.6M	$1.1M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	189.92	−0.147%	$23K	$213K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	190.35	+0.079%	$697	$6.2M	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	0.0000%	1h	190.11	−0.047%	$48K	$326K	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	190.03	−0.089%	$159K	$369K	50x	as long as short
Phemex SKHYUSDTlong	0.0000%	8h	190.20	long leg	$1.5M	$1.1M	10x
QFEX SKHY-USD	+0.0011%	1h	190.09	−0.058%	$1.2M	$4.1M	10x	as long as short
Lighter SKHY	+0.0032%	1h	190.02	−0.095%	$1.0M	$692K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	190.05	−0.079%	$1.1M	$1.4M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	190.11	−0.047%	$59K	$164K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	190.06	−0.074%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	190.09	−0.058%	$200K	$257K	20x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	190.00	−0.105%	$183K	$470K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	189.99	−0.110%	$42K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	189.99	−0.110%	$563K	$2.7M	10x	as long as short
Nado SKHY-PERP	+0.0093%	1h	190.11	−0.045%	$34K	$28K	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	190.18	−0.011%	$1.1M	$319K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	190.11	−0.047%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	190.16	−0.021%	$2.2M	$436K	50x	as long as short
Phoenix SKHY	+0.0375%	1h	190.14	−0.032%	$213K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSDshort	+0.0689%	1h	190.13	−0.035%	$48K	$19K	20x