Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against Phemex+0.023%7-day average −0.005% · you sell dearer than you buy

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

Long on Phemex Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.025%+$3 on $10k

Price spread, last 4 days (all we have)−0.017%−$2 · spread now +0.023%, 7d avg −0.005%

Together, before fees+0.008%+ Points / potential airdropVariational Omni: Active · farm board+$1 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 0.028% dearer against Phemex than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SKHYUSDT	186.12	0	get 0.0000% / 8h	59m 54s	$1.5M	$1.1M	10x
Short	Variational Omni SKHY	186.16	0	get 0.0000% / 8h	59m 54s	$1.6M	$1.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Phemex. 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 PhemexbpFee Variational OmnibpOrdersPrice spread, now +0.023%Rate

Funding earned: $0
Price spread: +0.023% → −0.005%: $2.77
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$9.23
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 3 min ago; Variational Omni: RFQ quote, 4 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 Phemex live order book, 3 min ago	1.07 bp	58.3 bp −$58	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	2.25 bp	doesn't fit	4.7 bp −$47	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
Bitget SKHYUSDT	−0.1331%	8h	186.36	+0.129%	$25.2M	$32.6M	20x	as long as short
Popdex SKHYUSDT	−0.0208%	1h	186.12	0.000%	$203K	$284K	20x	as long as short
tradeXYZ xyz:SKHY	−0.0199%	1h	186.09	−0.016%	$158.2M	$76.4M	10x	as long as short
edgeX SKHYUSDC	−0.0197%	4h	186.21	+0.048%	$561K	$291K	10x	as long as short
Nado SKHY-PERP	−0.0196%	1h	186.25	+0.068%	$33K	$28K	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	−0.0180%	1h	186.15	+0.016%	$49K	$345K	10x	as long as short
Polymarket Perps SKHY-USD	−0.0165%	1h	186.04	−0.043%	$180K	$487K	10x	as long as short
Kraken Futures PF_SKHYUSD	−0.0139%	1h	186.24	+0.063%	$48K	$21K	20x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0104%	1h	187.58	+0.784%	$68K	$905K	10x	as long as short
Lighter SKHY	−0.0096%	1h	186.06	−0.032%	$973K	$1.2M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps SKHY-USD.P	−0.0074%	1h	186.13	+0.005%	$520K	$2.6M	10x	as long as short
QFEX SKHY-USD	−0.0049%	1h	186.13	+0.005%	$1.2M	$4.2M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	186.25	+0.069%	$223K	$925K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	186.08	−0.020%	$54K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	186.08	−0.023%	$199.7M	$448.1M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	186.18	+0.032%	$16.5M	$29.6M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	186.08	−0.021%	$44.5M	$78.4M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	186.11	−0.005%	$25.6M	$20.9M	75x	as long as short
Variational Omni SKHYshort	0.0000%	8h	186.16	+0.023%	$1.6M	$1.0M	—
GRVT SKHY_USDT_Perp	0.0000%	8h	186.15	+0.016%	$22K	$231K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	186.39	+0.145%	$682	$6.1M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	186.04	−0.043%	$154K	$366K	50x	as long as short
Phemex SKHYUSDTlong	0.0000%	8h	186.12	long leg	$1.5M	$1.1M	10x
KuCoin SKHYUSDTM	+0.0011%	8h	186.25	+0.070%	$1.1M	$325K	20x	as long as short
Lighter RH SKHY	+0.0032%	1h	186.05	−0.038%	$1.1M	$1.7M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	186.24	+0.064%	$60K	$170K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	186.17	+0.027%	—	$32K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	186.10	−0.011%	$41K	$12K	10x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	186.15	+0.016%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	186.19	+0.038%	$2.2M	$422K	50x	as long as short
Phoenix SKHY	+0.0213%	1h	186.34	+0.118%	$209K	$115K	10x	as long as short