Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0061%/8h= −6.6% APRpaid last 24h −0.002%

Price spread now: QFEX against Aster−0.003%53s7-day average −0.015% · 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—prices read too far apart to compare

costs, in and out, $10k−$280.277% of the position

Long on Aster Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.017%−$2 on $10k

Price spread, last 4 days (all we have)−0.016%−$2 · spread now −0.003%, 7d avg −0.015%

Together, before fees−0.032%+ Points / potential airdropAster: Stage 5 · farm board−$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.015%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster SKHYUSDT	186.58	0	get 0.0000% / 8h	18m 40s	$223K	$899K	50x
Short	QFEX SKHY-USD	186.57	−0.0061	pay 0.0008% / 1h	18m 40s	$1.2M	$4.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Aster. 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 AsterbpFee QFEXbpOrdersPrice spread, now −0.003%Rate

Funding earned: −$12.75
Price spread: −0.003% → −0.015%: $1.2
Slippage, 4 orders: −$9.73
Fee Aster: 4 bp × 2 orders: −$8
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$39.28
Costs to cover: 0.277%
Break-even: never at this rate

Slippage from Aster: live order book, 19 min ago; QFEX: live order book, 10 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 Aster live order book, 19 min ago	1.34 bp	7.7 bp −$8	19.9 bp −$199	doesn't fit	doesn't fit
Sell QFEX live order book, 10 min ago	1.61 bp	6.6 bp −$7	7.8 bp −$78	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	−0.1254%	8h	186.70	+0.066%	$25.6M	$33.3M	20x	as long as short
edgeX SKHYUSDC	−0.0437%	4h	186.21	−0.195%	$561K	$290K	10x	as long as short
Kraken Futures PF_SKHYUSD	−0.0266%	1h	186.61	+0.020%	$48K	$21K	20x	as long as short
tradeXYZ xyz:SKHY	−0.0177%	1h	186.49	−0.046%	$158.4M	$76.9M	10x	as long as short
Nado SKHY-PERP	−0.0155%	1h	186.60	+0.012%	$33K	$28K	10x	as long as short
Polymarket Perps SKHY-USD	−0.0095%	1h	186.44	−0.073%	$180K	$486K	10x	as long as short
Popdex SKHYUSDT	−0.0080%	1h	186.59	+0.007%	$205K	$287K	20x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0072%	1h	187.58	+0.538%	$68K	$803K	10x	as long as short
QFEX SKHY-USDshort	−0.0061%	1h	186.57	−0.003%	$1.2M	$4.3M	10x
KuCoin SKHYUSDTM	−0.0054%	8h	186.44	−0.073%	$1.1M	$338K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter SKHY	−0.0016%	1h	186.44	−0.073%	$974K	$1.2M	10x	as long as short
Aster SKHYUSDTlong	0.0000%	8h	186.58	long leg	$223K	$899K	50x
Extended SKHY-USD	0.0000%	1h	186.47	−0.059%	$54K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	186.51	−0.036%	$200.2M	$451.9M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	186.52	−0.030%	$16.6M	$29.4M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	186.46	−0.062%	$44.6M	$79.8M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	186.52	−0.030%	$25.5M	$21.1M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	186.36	−0.115%	$1.6M	$1.0M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	186.41	−0.089%	$22K	$236K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	186.78	+0.109%	$684	$6.1M	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	0.0000%	1h	186.56	−0.009%	$49K	$347K	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	186.56	−0.009%	$155K	$363K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	186.50	−0.041%	$1.5M	$1.1M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	186.41	−0.089%	$1.1M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	186.36	−0.116%	$60K	$171K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0042%	1h	186.41	−0.089%	$520K	$2.6M	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	186.50	−0.041%	—	$32K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	186.46	−0.062%	$41K	$12K	10x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	186.54	−0.019%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	186.52	−0.030%	$2.2M	$427K	50x	as long as short
Phoenix SKHY	+0.0129%	1h	186.63	+0.029%	$209K	$123K	10x	as long as short