Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0608%/8h= −66.6% APRpaid last 24h −0.007%

Price spread now: Deribit against SunX−0.134%7-day average −0.123% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$151as in the Price arb table

costs, in and out, $10k−$1501.503% of the position

Long on SunX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.013%−$1 on $10k

Price spread, last 4 days (all we have)+0.010%+$1 · spread now −0.134%, 7d avg −0.123%

Together, before fees−0.002%$0 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.123%, so right now this pair is about funding alone: −$18 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.013% in total (about -1.2% 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	SunX SKHY-USDT	186.59	0	get 0.0000% / 8h	1h 39m	$683	$6.1M	10x
Short	Deribit SKHY_USDC-PERPETUAL	186.34	−0.0608	pay 0.0076% / 1h	39m 14s	$49K	$341K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against SunX. 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 SunXbpFee DeribitbpOrdersPrice spread, now −0.134%Rate

Funding earned: −$127.66
Price spread: −0.134% → −0.123%: −$1.07
Slippage, 4 orders: −$135.27
Fee SunX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$278.99
Costs to cover: 1.503%
Break-even: never at this rate

Slippage from SunX: live order book, 10 min ago; Deribit: live order book, 4 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 SunX live order book, 10 min ago	29.57 bp	47.8 bp −$48	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 4 min ago	6.16 bp	14.8 bp −$15	17.7 bp −$177	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
Bitget SKHYUSDT	−0.1160%	8h	186.65	+0.032%	$25.0M	$31.7M	20x	as long as short
edgeX SKHYUSDC	−0.0809%	4h	186.57	−0.013%	$562K	$290K	10x	as long as short
Deribit SKHY_USDC-PERPETUALshort	−0.0608%	1h	186.34	−0.134%	$49K	$341K	10x
tradeXYZ xyz:SKHY	−0.0192%	1h	186.20	−0.209%	$158.1M	$74.2M	10x	as long as short
Nado SKHY-PERP	−0.0190%	1h	186.70	+0.057%	$33K	$28K	10x	as long as short
Polymarket Perps SKHY-USD	−0.0180%	1h	186.35	−0.129%	$180K	$487K	10x	as long as short
Popdex SKHYUSDT	−0.0168%	1h	186.41	−0.096%	$196K	$274K	20x	as long as short
Lighter SKHY	−0.0144%	1h	186.30	−0.155%	$961K	$1.1M	10x	as long as short
Kraken Futures PF_SKHYUSD	−0.0139%	1h	186.45	−0.076%	$47K	$19K	20x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0104%	1h	187.75	+0.622%	$63K	$902K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX SKHY-USD	−0.0049%	1h	186.43	−0.086%	$1.2M	$4.1M	10x	as long as short
Ondo Perps SKHY-USD.P	−0.0032%	1h	186.57	−0.011%	$514K	$2.6M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	186.53	−0.030%	$226K	$916K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	186.27	−0.169%	$54K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	186.24	−0.188%	$198.9M	$438.4M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	186.34	−0.134%	$15.8M	$29.3M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	186.18	−0.220%	$44.5M	$77.3M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	186.21	−0.204%	$25.5M	$20.4M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	186.53	−0.031%	$1.6M	$1.0M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	186.59	0.000%	$22K	$228K	10x	as long as short
SunX SKHY-USDTlong	0.0000%	8h	186.59	long leg	$683	$6.1M	10x
HTX SKHY-USDT	0.0000%	8h	186.46	−0.070%	$155K	$367K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	186.34	−0.134%	$1.5M	$1.1M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	186.28	−0.166%	$1.1M	$1.6M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	186.65	+0.032%	$58K	$165K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	186.59	0.000%	—	$24K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	186.33	−0.139%	$41K	$13K	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	186.46	−0.070%	$1.1M	$328K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	186.31	−0.150%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	186.25	−0.182%	$2.2M	$419K	50x	as long as short
Phoenix SKHY	+0.0213%	1h	187.04	+0.241%	$210K	$115K	10x	as long as short