Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0634%/8h= +69.4% APRpaid last 24h +0.135%

Price spread now: Popdex against Bitget−0.011%7-day average −0.006% · 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−$31as in the Price arb table

costs, in and out, $10k−$310.308% of the position

Long on Bitget Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.166%+$17 on $10k

Price spread, last 4 days (all we have)−0.011%−$1 · spread now −0.011%, 7d avg −0.006%

Together, before fees+0.155%+$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.006%, so right now this pair is about funding alone: +$19 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 0.166% in total (about 15.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SKHYUSDT	188.30	−0.0586	get 0.0586% / 8h	5h 51m	$26.1M	$36.4M	20x
Short	Popdex SKHYUSDT	188.28	0.0048	get 0.0006% / 1h	51m 24s	$203K	$308K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against Bitget. 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 BitgetbpFee PopdexbpOrdersPrice spread, now −0.011%Rate

Funding earned: $133.14
Price spread: −0.011% → −0.006%: −$0.43
Slippage, 4 orders: −$12.39
Fee Bitget: 6 bp × 2 orders: −$12
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: $101.92
Costs to cover: 0.308%
Break-even: 1.6 days

Slippage from Bitget: live order book, 6 min ago; Popdex: live order book, 60 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 Bitget live order book, 6 min ago	0.53 bp	9.1 bp −$9	15.2 bp −$152	19.8 bp −$1,984	40.0 bp −$20.0K
Sell Popdex live order book, 60 min ago	2.68 bp	7.2 bp −$7	10.9 bp −$109	doesn't fit	doesn't fit

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
edgeX SKHYUSDC	−0.0948%	4h	188.18	−0.063%	$567K	$286K	10x	as long as short
Bitget SKHYUSDTlong	−0.0586%	8h	188.30	long leg	$26.1M	$36.4M	20x
Deribit SKHY_USDC-PERPETUAL	−0.0387%	1h	188.21	−0.048%	$27K	$448K	10x	as long as short
Kraken Futures PF_SKHYUSD	−0.0266%	1h	187.89	−0.220%	$51K	$36K	20x	as long as short
KuCoin SKHYUSDTM	−0.0106%	8h	188.21	−0.048%	$1.1M	$472K	20x	as long as short
Nado SKHY-PERP	−0.0087%	1h	188.31	+0.004%	$33K	$28K	10x	as long as short
tradeXYZ xyz:SKHY	−0.0050%	1h	188.24	−0.032%	$158.9M	$78.0M	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0040%	1h	187.65	−0.345%	$110K	$777K	10x	as long as short
QFEX SKHY-USD	−0.0013%	1h	188.22	−0.042%	$1.2M	$4.3M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	188.22	−0.041%	$264K	$912K	50x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended SKHY-USD	0.0000%	1h	188.16	−0.076%	$55K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	188.22	−0.042%	$198.6M	$473.0M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	188.23	−0.037%	$16.5M	$34.2M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	188.23	−0.037%	$44.6M	$85.8M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	188.21	−0.048%	$25.4M	$21.6M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	187.90	−0.214%	$1.5M	$1.0M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	188.20	−0.051%	$22K	$244K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	188.53	+0.122%	$690	$5.5M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	188.09	−0.112%	$156K	$376K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	188.22	−0.042%	$1.5M	$1.1M	10x	as long as short
Lighter SKHY	+0.0032%	1h	188.16	−0.074%	$993K	$1.3M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	188.11	−0.101%	$1.1M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	188.25	−0.027%	$60K	$131K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	188.31	+0.005%	—	$39K	10x	as long as short
Popdex SKHYUSDTshort	+0.0048%	1h	188.28	−0.011%	$203K	$308K	20x
Polymarket Perps SKHY-USD	+0.0050%	1h	188.24	−0.032%	$183K	$353K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	188.20	−0.053%	$42K	$12K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	188.11	−0.101%	$525K	$2.5M	10x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	188.23	−0.037%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	188.26	−0.021%	$2.2M	$466K	50x	as long as short
Phoenix SKHY	+0.0255%	1h	188.35	+0.027%	$211K	$123K	10x	as long as short