Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0149%/8h= −16.3% APRpaid last 24h −0.032%

Price spread now: QFEX against Orderly+0.064%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. QFEX is 0.064% dearer against Orderly than usual: you sell high and buy low (spread +0.064% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 35 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_SKHY_USDC_mythos	186.52	0.0100	pay 0.0100% / 8h	1h 41m	$2K	$4K	10x
Short	QFEX SKHY-USD	186.64	−0.0049	pay 0.0006% / 1h	41m 01s	$1.2M	$4.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Orderly. 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 OrderlybpFee QFEXbpOrdersPrice spread, now +0.064%Rate

Funding earned: −$31.26
Price spread: +0.064% → 0.000%: $6.43
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$40.83
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; QFEX: live order book, 8 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 Orderly no order-book sample	—	—	—	—	—
Sell QFEX live order book, 8 min ago	1.34 bp	6.3 bp −$6	10.9 bp −$109	doesn't fit	doesn't fit

Orderly: 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	−0.1134%	8h	186.74	+0.118%	$25.0M	$31.7M	20x	as long as short
edgeX SKHYUSDC	−0.0246%	4h	187.00	+0.257%	$564K	$292K	10x	as long as short
Nado SKHY-PERP	−0.0186%	1h	186.76	+0.129%	$33K	$28K	10x	as long as short
tradeXYZ xyz:SKHY	−0.0183%	1h	186.58	+0.032%	$158.3M	$74.3M	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	−0.0178%	1h	186.64	+0.064%	$48K	$340K	10x	as long as short
Polymarket Perps SKHY-USD	−0.0172%	1h	186.52	0.000%	$180K	$487K	10x	as long as short
Popdex SKHYUSDT	−0.0152%	1h	186.60	+0.043%	$197K	$274K	20x	as long as short
Lighter SKHY	−0.0144%	1h	186.56	+0.021%	$962K	$1.1M	10x	as long as short
Kraken Futures PF_SKHYUSD	−0.0139%	1h	186.77	+0.132%	$47K	$19K	20x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0104%	1h	187.75	+0.659%	$63K	$902K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX SKHY-USDshort	−0.0049%	1h	186.64	+0.064%	$1.2M	$4.1M	10x
Ondo Perps SKHY-USD.P	−0.0037%	1h	186.48	−0.021%	$514K	$2.6M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	186.76	+0.130%	$226K	$916K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	186.54	+0.010%	$54K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	186.60	+0.046%	$199.3M	$438.1M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	186.62	+0.054%	$15.8M	$29.3M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	186.58	+0.032%	$44.6M	$77.5M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	186.56	+0.021%	$25.2M	$20.2M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	186.53	+0.007%	$1.6M	$1.0M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	186.65	+0.071%	$22K	$228K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	186.83	+0.166%	$684	$6.1M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	186.48	−0.021%	$155K	$367K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	186.62	+0.054%	$1.5M	$1.1M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	186.53	+0.005%	$1.1M	$1.6M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	186.78	+0.139%	$58K	$165K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	186.73	+0.113%	—	$24K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	186.62	+0.054%	$41K	$13K	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	186.73	+0.113%	$1.1M	$328K	20x	as long as short
Orderly PERP_SKHY_USDC_mythoslong	+0.0100%	8h	186.52	long leg	$2K	$4K	10x
BloFin SKHY-USDT	+0.0120%	8h	186.59	+0.038%	$2.2M	$419K	50x	as long as short
Phoenix SKHY	+0.0213%	1h	187.04	+0.279%	$210K	$115K	10x	as long as short