Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0005%/8h= +0.5% APRpaid last 24h −0.014%

Price spread now: Variational Omni against Ondo Perps−0.062%7-day average +0.035% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Ondo Perps Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.037%−$4 on $10k

Price spread, last 7 days−0.072%−$7 · spread now −0.062%, 7d avg +0.035%

Together, before fees−0.108%+ Points / potential airdropOndo Perps: Active · Variational Omni: Active · farm board−$11 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.097% cheaper against Ondo Perps than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps SKHY-USD.P	187.61	−0.0005	get 0.0001% / 1h	47m 41s	$516K	$2.6M	10x
Short	Variational Omni SKHY	187.49	0	get 0.0000% / 8h	1h 47m	$1.6M	$1.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Ondo Perps. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpFee Variational OmnibpOrdersPrice spread, now −0.062%Rate

Funding earned: $1.01
Price spread: −0.062% → +0.035%: −$9.72
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$13.71
Costs to cover: 0.050%
Break-even: 102.2 days

Slippage unknown: Ondo Perps: no order-book sample; Variational Omni: RFQ quote, 1 min ago. Net counts fees only.

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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 1 min ago	2.24 bp	doesn't fit	4.7 bp −$47	doesn't fit	doesn't fit

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1064%	8h	187.53	−0.043%	$25.1M	$31.6M	20x	as long as short
edgeX SKHYUSDC	−0.0625%	4h	187.40	−0.112%	$565K	$291K	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	−0.0498%	1h	187.13	−0.256%	$48K	$338K	10x	as long as short
tradeXYZ xyz:SKHY	−0.0171%	1h	187.12	−0.261%	$158.8M	$74.1M	10x	as long as short
Nado SKHY-PERP	−0.0164%	1h	187.41	−0.108%	$33K	$28K	10x	as long as short
Polymarket Perps SKHY-USD	−0.0146%	1h	187.18	−0.229%	$181K	$487K	10x	as long as short
Kraken Futures PF_SKHYUSD	−0.0139%	1h	187.28	−0.175%	$47K	$19K	20x	as long as short
Lighter SKHY	−0.0136%	1h	187.04	−0.304%	$944K	$1.1M	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0104%	1h	187.75	+0.075%	$63K	$902K	10x	as long as short
Popdex SKHYUSDT	−0.0088%	1h	187.25	−0.192%	$197K	$274K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX SKHY-USD	−0.0049%	1h	187.28	−0.176%	$1.2M	$4.1M	10x	as long as short
Ondo Perps SKHY-USD.Plong	−0.0005%	1h	187.61	long leg	$516K	$2.6M	10x
Aster SKHYUSDT	0.0000%	8h	187.26	−0.184%	$227K	$916K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	187.07	−0.289%	$55K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	187.16	−0.240%	$200.3M	$436.1M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	187.17	−0.235%	$15.9M	$30.0M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	187.15	−0.245%	$44.7M	$77.6M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	187.07	−0.288%	$25.3M	$20.2M	75x	as long as short
Variational Omni SKHYshort	0.0000%	8h	187.49	−0.062%	$1.6M	$1.0M	—
GRVT SKHY_USDT_Perp	0.0000%	8h	187.56	−0.027%	$22K	$227K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	187.52	−0.048%	$686	$6.1M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	187.07	−0.288%	$155K	$369K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	187.19	−0.224%	$1.5M	$1.1M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	187.07	−0.288%	$1.1M	$1.6M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	187.54	−0.037%	$58K	$164K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	187.48	−0.069%	—	$23K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	187.18	−0.229%	$41K	$13K	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	187.30	−0.165%	$1.1M	$326K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	187.17	−0.235%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	187.52	−0.048%	$2.2M	$420K	50x	as long as short
Phoenix SKHY	+0.0213%	1h	187.59	−0.011%	$210K	$115K	10x	as long as short