Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.1162%/8h= +127.3% APRpaid last 24h +0.051%

Price spread now: Phoenix against edgeX+0.128%7-day average +0.143% · you sell dearer than you buy

Net, funding: paid 7d − costs−$76as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$340.339% of the position

Long on edgeX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.419%−$42 on $10k

Price spread, last 3 days (all we have)+0.241%+$24 · spread now +0.128%, 7d avg +0.143%

Together, before fees−0.178%+ Points / potential airdropedgeX: Active · farm board−$18 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.143%, so right now this pair is about funding alone: +$35 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.419%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.419% in total (about -21.9% 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	edgeX SKHYUSDC	189.50	−0.0782	get 0.0391% / 4h	19m 46s	$571K	$289K	10x
Short	Phoenix SKHY	189.74	0.0380	get 0.0048% / 1h	19m 46s	$214K	$128K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.128%Rate

Funding earned: $244.09
Price spread: +0.128% → +0.143%: −$1.52
Slippage, 4 orders: −$17.9
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $208.67
Costs to cover: 0.339%
Break-even: 1.0 days

Slippage from edgeX: live order book, 59 min ago; Phoenix: live order book, 52 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, 59 min ago	1.06 bp	5.9 bp −$6	11.0 bp −$110	doesn't fit	doesn't fit
Sell Phoenix live order book, 52 min ago	3.17 bp	11.1 bp −$11	23.3 bp −$233	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	−0.0782%	4h	189.50	long leg	$571K	$289K	10x
Nado SKHY-PERP	−0.0047%	1h	189.61	+0.060%	$28K	$2K	10x	as long as short
QFEX SKHY-USD	0.0000%	1h	189.58	+0.043%	$1.2M	$5.3M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	189.59	+0.047%	$252K	$903K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	189.58	+0.044%	$55K	$4K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	189.61	+0.059%	$212.1M	$377.9M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	189.68	+0.096%	$15.7M	$27.0M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	189.64	+0.075%	$47.1M	$61.3M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	189.60	+0.054%	$26.1M	$17.8M	75x	as long as short
Bitget SKHYUSDT	0.0000%	8h	189.68	+0.096%	$25.4M	$25.7M	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	189.53	+0.017%	$1.6M	$2.6M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	189.54	+0.022%	$22K	$208K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	189.86	+0.191%	$695	$7.2M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	189.56	+0.033%	$155K	$401K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	189.60	+0.054%	$1.5M	$1.1M	10x	as long as short
KuCoin SKHYUSDTM	+0.0011%	8h	189.51	+0.006%	$1.1M	$283K	20x	as long as short
Deribit SKHY_USDC-PERPETUAL	+0.0014%	1h	189.64	+0.075%	$46K	$254K	10x	as long as short
Lighter SKHY	+0.0032%	1h	189.52	+0.012%	$1.0M	$689K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	189.51	+0.006%	$1.1M	$1.4M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	189.63	+0.070%	$56K	$156K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	189.57	+0.038%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	189.65	+0.080%	$202K	$241K	20x	as long as short
tradeXYZ xyz:SKHY	+0.0050%	1h	189.57	+0.038%	$164.5M	$65.1M	10x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	189.53	+0.017%	$170K	$952K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	189.59	+0.049%	$42K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	189.52	+0.012%	$557K	$1.2M	10x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	189.59	+0.049%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	189.60	+0.054%	$2.2M	$415K	50x	as long as short
Coinbase International SKHY-PERP-INTX	+0.0128%	1h	189.72	+0.117%	$169K	$687K	10x	as long as short
Phoenix SKHYshort	+0.0380%	1h	189.74	+0.128%	$214K	$128K	10x
Kraken Futures PF_SKHYUSD	+0.0950%	1h	189.70	+0.107%	$50K	$24K	20x	as long as short