Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0048%/8h= +5.3% APRpaid last 24h +0.014%

Price spread now: Popdex against OKX−0.021%7-day average +0.013% · 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−$27as in the Price arb table

costs, in and out, $10k−$230.234% of the position

Long on OKX Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.016%+$2 on $10k

Price spread, last 4 days (all we have)+0.040%+$4 · spread now −0.021%, 7d avg +0.013%

Together, before fees+0.056%+$6 on $10k · with fees, hour by hour

Funding pays, the price is against you. Popdex is 0.034% cheaper against OKX than usual: you would sell low and buy high (spread −0.021% now, against its 7-day average of +0.013%). If the spread goes back, that is −$3 on $10k: about 2.4 days of funding at the current rate (+$1 a day). At the pace of the last 4 days (+0.016% in total) that is about 7.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SKHY-USDT-SWAP	193.07	0	get 0.0000% / 8h	4h 12m	$46.8M	$70.1M	50x
Short	Popdex SKHYUSDT	193.03	0.0048	get 0.0006% / 1h	12m 55s	$202K	$255K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against OKX. 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 OKXbpFee PopdexbpOrdersPrice spread, now −0.021%Rate

Funding earned: $10.08
Price spread: −0.021% → +0.013%: −$3.42
Slippage, 4 orders: −$6.97
Fee OKX: 5 bp × 2 orders: −$10
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$16.7
Costs to cover: 0.234%
Break-even: 18.6 days

Slippage from OKX: live order book, 1 min ago; Popdex: live order book, 46 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 OKX live order book, 1 min ago	0.26 bp	6.3 bp −$6	8.5 bp −$85	31.9 bp −$3,192	doesn't fit
Sell Popdex live order book, 46 min ago	1.55 bp	5.7 bp −$6	7.9 bp −$79	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 SKHYUSDC	−0.0839%	4h	192.88	−0.097%	$581K	$292K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0048%	1h	192.84	−0.119%	$45K	$861K	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	193.04	−0.014%	$249K	$889K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	192.99	−0.039%	$56K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	193.05	−0.010%	$203.9M	$394.2M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	193.05	−0.010%	$15.7M	$27.7M	100x	as long as short
OKX SKHY-USDT-SWAPlong	0.0000%	8h	193.07	long leg	$46.8M	$70.1M	50x
Gate SKHY_USDT	0.0000%	8h	193.01	−0.031%	$25.8M	$18.9M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	192.91	−0.082%	$1.6M	$1.1M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	192.92	−0.078%	$23K	$205K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX SKHY-USDT	0.0000%	8h	193.39	+0.166%	$708	$6.2M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	193.07	0.000%	$161K	$369K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	193.10	+0.016%	$1.5M	$1.1M	10x	as long as short
QFEX SKHY-USD	+0.0015%	1h	193.03	−0.021%	$1.2M	$4.0M	10x	as long as short
Lighter SKHY	+0.0032%	1h	192.95	−0.062%	$1.0M	$688K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	192.94	−0.067%	$1.1M	$1.6M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	193.02	−0.026%	$60K	$161K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	193.00	−0.036%	—	$12K	10x	as long as short
Popdex SKHYUSDTshort	+0.0048%	1h	193.03	−0.021%	$202K	$255K	20x
tradeXYZ xyz:SKHY	+0.0050%	1h	192.98	−0.047%	$161.4M	$67.9M	10x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	192.96	−0.057%	$189K	$456K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	193.01	−0.031%	$43K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	192.90	−0.088%	$582K	$2.4M	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	193.03	−0.021%	$1.1M	$316K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	193.07	0.000%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	193.09	+0.010%	$2.3M	$438K	50x	as long as short
Bitget SKHYUSDT	+0.0143%	8h	193.10	+0.016%	$25.2M	$26.9M	20x	as long as short
Nado SKHY-PERP	+0.0151%	1h	192.95	−0.061%	$38K	$26K	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	+0.0216%	1h	193.09	+0.010%	$49K	$322K	10x	as long as short
Phoenix SKHY	+0.0372%	1h	193.37	+0.155%	$217K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.1058%	1h	193.17	+0.051%	$49K	$19K	20x	as long as short