Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: SoDEX against Phemex−0.064%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding pays, the price is against you. SoDEX is 0.064% cheaper against Phemex than usual: you would sell low and buy high (spread −0.064% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 4.3 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SKHYUSDT	186.27	0	get 0.0000% / 8h	8m 43s	$1.5M	$1.1M	10x
Short	SoDEX SKHY-USD	186.15	0.0050	get 0.0006% / 1h	8m 43s	$41K	$12K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Phemex. 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 PhemexbpFee SoDEXbpOrdersPrice spread, now −0.064%Rate

Funding earned: $10.5
Price spread: −0.064% → 0.000%: −$6.44
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$15.94
Costs to cover: 0.200%
Break-even: 17.6 days

Slippage unknown: Phemex: live order book, 4 min ago; SoDEX: no order-book sample. 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 Phemex live order book, 4 min ago	3.76 bp	49.3 bp −$49	doesn't fit	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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	−0.1250%	8h	186.49	+0.118%	$25.6M	$33.5M	20x	as long as short
Kraken Futures PF_SKHYUSD	−0.0266%	1h	186.30	+0.018%	$48K	$21K	20x	as long as short
tradeXYZ xyz:SKHY	−0.0135%	1h	186.24	−0.016%	$158.1M	$76.8M	10x	as long as short
Nado SKHY-PERP	−0.0123%	1h	186.16	−0.059%	$33K	$28K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0072%	1h	187.58	+0.703%	$68K	$799K	10x	as long as short
QFEX SKHY-USD	−0.0061%	1h	186.20	−0.038%	$1.2M	$4.3M	10x	as long as short
KuCoin SKHYUSDTM	−0.0056%	8h	186.20	−0.038%	$1.1M	$347K	20x	as long as short
Polymarket Perps SKHY-USD	−0.0054%	1h	186.18	−0.048%	$180K	$486K	10x	as long as short
edgeX SKHYUSDC	−0.0018%	4h	186.11	−0.083%	$561K	$290K	10x	as long as short
Popdex SKHYUSDT	−0.0008%	1h	186.23	−0.021%	$204K	$287K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster SKHYUSDT	0.0000%	8h	186.26	−0.003%	$225K	$899K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	186.23	−0.023%	$54K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	186.27	−0.001%	$199.8M	$452.9M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	186.28	+0.005%	$16.6M	$29.5M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	186.18	−0.048%	$44.5M	$79.9M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	186.25	−0.011%	$25.5M	$21.1M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	186.12	−0.080%	$1.6M	$1.1M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	186.15	−0.064%	$22K	$238K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	186.54	+0.145%	$683	$6.1M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	186.19	−0.043%	$154K	$363K	50x	as long as short
Phemex SKHYUSDTlong	0.0000%	8h	186.27	long leg	$1.5M	$1.1M	10x
Lighter SKHY	+0.0016%	1h	186.20	−0.038%	$973K	$1.2M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	186.17	−0.054%	$1.1M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	186.17	−0.054%	$60K	$171K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	186.13	−0.075%	—	$32K	10x	as long as short
SoDEX SKHY-USDshort	+0.0050%	1h	186.15	−0.064%	$41K	$12K	10x
Ondo Perps SKHY-USD.P	+0.0050%	1h	186.05	−0.118%	$520K	$2.6M	10x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	186.23	−0.021%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	186.27	0.000%	$2.2M	$426K	50x	as long as short
Phoenix SKHY	+0.0129%	1h	186.45	+0.097%	$209K	$123K	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	+0.0180%	1h	186.31	+0.021%	$49K	$347K	10x	as long as short