Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0228%/8h= −25.0% APRpaid last 24h −0.009%

Price spread now: KuCoin against Popdex−0.021%7-day average −0.019% · 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−$60as in the Price arb table

costs, in and out, $10k−$590.594% of the position

Long on Popdex Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.005%+$1 on $10k

Price spread, last 4 days (all we have)0.000%$0 · spread now −0.021%, 7d avg −0.019%

Together, before fees+0.005%+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.019%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.005% in total (about 0.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex SKHYUSDT	186.18	0.0048	pay 0.0006% / 1h	54m 08s	$201K	$298K	20x
Short	KuCoin SKHYUSDTM	186.14	−0.0180	pay 0.0180% / 8h	6h 54m	$1.1M	$403K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Popdex. 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 PopdexbpFee KuCoinbpOrdersPrice spread, now −0.021%Rate

Funding earned: −$47.88
Price spread: −0.021% → −0.019%: −$0.22
Slippage, 4 orders: −$41
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$107.5
Costs to cover: 0.594%
Break-even: never at this rate

Slippage from Popdex: live order book, 40 min ago; KuCoin: live order book, 11 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 Popdex live order book, 40 min ago	0.81 bp	5.2 bp −$5	10.9 bp −$109	doesn't fit	doesn't fit
Sell KuCoin live order book, 11 min ago	2.15 bp	28.1 bp −$28	doesn't fit	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	−0.0971%	8h	186.19	+0.005%	$25.6M	$35.5M	20x	as long as short
edgeX SKHYUSDC	−0.0196%	4h	186.52	+0.183%	$562K	$289K	10x	as long as short
KuCoin SKHYUSDTMshort	−0.0180%	8h	186.14	−0.021%	$1.1M	$403K	20x
QFEX SKHY-USD	−0.0005%	1h	186.14	−0.021%	$1.2M	$4.3M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	186.31	+0.067%	$266K	$909K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	186.11	−0.035%	$54K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	186.27	+0.048%	$197.2M	$468.9M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	186.25	+0.038%	$15.8M	$33.7M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	186.29	+0.059%	$44.2M	$83.2M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	186.19	+0.005%	$25.5M	$21.3M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SKHY	0.0000%	8h	186.51	+0.177%	$1.5M	$1.1M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	186.66	+0.258%	$22K	$249K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	186.45	+0.145%	$682	$5.7M	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	0.0000%	1h	186.14	−0.021%	$47K	$355K	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	186.09	−0.048%	$154K	$377K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	186.19	+0.005%	$1.5M	$1.1M	10x	as long as short
Nado SKHY-PERP	+0.0009%	1h	186.33	+0.079%	$32K	$28K	10x	as long as short
Lighter SKHY	+0.0032%	1h	186.21	+0.016%	$991K	$1.3M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	186.15	−0.016%	$1.1M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	186.15	−0.016%	$59K	$173K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	186.18	0.000%	—	$39K	10x	as long as short
Popdex SKHYUSDTlong	+0.0048%	1h	186.18	long leg	$201K	$298K	20x
tradeXYZ xyz:SKHY	+0.0050%	1h	186.15	−0.016%	$157.6M	$77.7M	10x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	186.11	−0.038%	$180K	$424K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	186.17	−0.005%	$41K	$12K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	185.99	−0.102%	$516K	$2.6M	10x	as long as short
Coinbase International SKHY-PERP-INTX	+0.0056%	1h	186.08	−0.054%	$110K	$884K	10x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	186.28	+0.054%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	186.30	+0.064%	$2.1M	$462K	50x	as long as short
Phoenix SKHY	+0.0215%	1h	186.73	+0.295%	$209K	$123K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0756%	1h	186.26	+0.041%	$48K	$20K	20x	as long as short