Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0531%/8h= +58.1% APRpaid last 24h +0.025%

Price spread now: Phemex against edgeX+0.484%7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$178as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$1081.081% of the position

Long on edgeX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.700%−$70 on $10k

Price spread, last 3 days (all we have)−0.499%−$50 · spread now +0.484%, 7d avg +0.013%

Together, before fees−1.199%+ Points / potential airdropedgeX: Active · farm board−$120 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and Phemex is 0.471% dearer against edgeX than usual: you sell high and buy low: +$47 more if the spread goes back to its 7-day average of +0.013%. Mind the row above: over the last 7 days funding on this pair cost −0.700%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX SKHYUSDC	191.41	−0.0531	get 0.0265% / 4h	3h 52m	$577K	$289K	10x
Short	Phemex SKHYUSDT	192.34	0	get 0.0000% / 8h	7h 52m	$1.5M	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against edgeX. 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 edgeXbpFee PhemexbpOrdersPrice spread, now +0.484%Rate

Funding earned: $111.49
Price spread: +0.484% → +0.013%: $47.08
Slippage, 4 orders: −$87.09
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Phemex: 6 bp × 2 orders: −$12
Net: $50.48
Costs to cover: 1.081%
Break-even: 3.8 days

Slippage from edgeX: live order book, 21 min ago; Phemex: live order book, 5 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 edgeX live order book, 21 min ago	1.06 bp	5.9 bp −$6	11.0 bp −$110	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	2.10 bp	40.7 bp −$41	doesn't fit	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 SKHYUSDClong	−0.0531%	4h	191.41	long leg	$577K	$289K	10x
Deribit SKHY_USDC-PERPETUAL	−0.0114%	1h	192.39	+0.510%	$46K	$259K	10x	as long as short
Nado SKHY-PERP	−0.0103%	1h	192.47	+0.552%	$29K	$2K	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	192.28	+0.451%	$255K	$905K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	192.33	+0.477%	$56K	$6K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	192.35	+0.489%	$213.2M	$383.0M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	192.42	+0.526%	$15.7M	$27.3M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	192.40	+0.515%	$47.6M	$63.4M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	192.38	+0.505%	$26.4M	$17.3M	75x	as long as short
Bitget SKHYUSDT	0.0000%	8h	192.42	+0.526%	$25.5M	$26.2M	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	191.76	+0.181%	$1.6M	$2.4M	—	as long as short
SunX SKHY-USDT	0.0000%	8h	192.69	+0.667%	$705	$7.1M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	192.39	+0.510%	$159K	$393K	50x	as long as short
Phemex SKHYUSDTshort	0.0000%	8h	192.34	+0.484%	$1.5M	$1.1M	10x
QFEX SKHY-USD	+0.0005%	1h	192.40	+0.515%	$1.2M	$5.3M	10x	as long as short
KuCoin SKHYUSDTM	+0.0030%	8h	192.29	+0.458%	$1.1M	$272K	20x	as long as short
Lighter SKHY	+0.0032%	1h	192.33	+0.479%	$1.0M	$613K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	192.32	+0.474%	$1.1M	$1.4M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	192.09	+0.353%	$57K	$155K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	192.47	+0.552%	—	$13K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	192.45	+0.541%	$196K	$257K	20x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	192.44	+0.536%	$577K	$1.4M	10x	as long as short
Coinbase International SKHY-PERP-INTX	+0.0088%	1h	190.51	−0.472%	$171K	$682K	10x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	192.40	+0.515%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	192.41	+0.521%	$2.2M	$428K	50x	as long as short
GRVT SKHY_USDT_Perp	+0.0176%	8h	191.64	+0.117%	$23K	$202K	10x	as long as short
Phoenix SKHY	+0.0335%	1h	191.61	+0.103%	$216K	$120K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0711%	1h	192.52	+0.577%	$51K	$25K	20x	as long as short
tradeXYZ xyz:SKHY	+0.1146%	1h	192.41	+0.521%	$166.4M	$64.1M	10x	as long as short
Polymarket Perps SKHY-USD	+0.1167%	1h	192.43	+0.531%	$193K	$395K	10x	as long as short
SoDEX SKHY-USD	+0.1485%	1h	192.39	+0.510%	$43K	$13K	10x	as long as short