Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h −0.014%

Price spread now: OKX against Popdex+0.059%7-day average −0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$240.240% of the position

Long on Popdex Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.018%−$2 on $10k

Price spread, last 4 days (all we have)−0.067%−$7 · spread now +0.059%, 7d avg −0.013%

Together, before fees−0.085%−$8 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.072% dearer against Popdex than usual: you sell high and buy low (spread +0.059% now, against its 7-day average of −0.013%): +$7 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5.0 days. At the pace of the last 4 days (−0.018% in total) that is about 15 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex SKHYUSDT	186.39	0.0048	pay 0.0006% / 1h	26m 04s	$193K	$272K	20x
Short	OKX SKHY-USDT-SWAP	186.50	0	get 0.0000% / 8h	2h 26m	$44.2M	$75.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.059%Rate

Funding earned: −$10.08
Price spread: +0.059% → −0.013%: $7.2
Slippage, 4 orders: −$7.56
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee OKX: 5 bp × 2 orders: −$10
Net: −$26.84
Costs to cover: 0.240%
Break-even: never at this rate

Slippage from Popdex: live order book, 23 min ago; OKX: live order book, 3 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, 23 min ago	2.38 bp	6.1 bp −$6	9.6 bp −$96	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	0.27 bp	6.3 bp −$6	9.0 bp −$90	27.7 bp −$2,771	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	−0.1060%	8h	186.71	+0.172%	$24.8M	$30.6M	20x	as long as short
edgeX SKHYUSDC	−0.0305%	4h	186.80	+0.218%	$563K	$289K	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	−0.0179%	1h	186.53	+0.075%	$48K	$335K	10x	as long as short
Nado SKHY-PERP	−0.0108%	1h	186.52	+0.071%	$33K	$28K	10x	as long as short
tradeXYZ xyz:SKHY	−0.0083%	1h	186.54	+0.080%	$157.7M	$73.2M	10x	as long as short
Polymarket Perps SKHY-USD	−0.0064%	1h	186.36	−0.016%	$180K	$487K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0024%	1h	186.71	+0.172%	$47K	$875K	10x	as long as short
QFEX SKHY-USD	−0.0014%	1h	186.34	−0.027%	$1.2M	$4.1M	10x	as long as short
Lighter SKHY	0.0000%	1h	186.52	+0.070%	$914K	$970K	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	186.56	+0.094%	$228K	$910K	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended SKHY-USD	0.0000%	1h	186.48	+0.049%	$54K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	186.48	+0.048%	$198.6M	$426.6M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	186.53	+0.075%	$15.7M	$29.9M	100x	as long as short
OKX SKHY-USDT-SWAPshort	0.0000%	8h	186.50	+0.059%	$44.2M	$75.5M	50x
Gate SKHY_USDT	0.0000%	8h	186.46	+0.038%	$25.2M	$20.5M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	186.47	+0.045%	$1.6M	$1.0M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	186.54	+0.080%	$22K	$220K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	186.85	+0.247%	$684	$6.2M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	186.38	−0.005%	$155K	$371K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	186.55	+0.086%	$1.5M	$1.1M	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0025%	1h	186.07	−0.172%	$514K	$2.6M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	186.44	+0.027%	$1.0M	$1.6M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	186.41	+0.011%	$58K	$164K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	186.45	+0.032%	—	$12K	10x	as long as short
Popdex SKHYUSDTlong	+0.0048%	1h	186.39	long leg	$193K	$272K	20x
SoDEX SKHY-USD	+0.0050%	1h	186.42	+0.016%	$41K	$13K	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	186.58	+0.102%	$1.1M	$319K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	186.54	+0.080%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	186.29	−0.054%	$2.2M	$408K	50x	as long as short
Phoenix SKHY	+0.0254%	1h	187.06	+0.359%	$210K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0262%	1h	186.60	+0.111%	$47K	$19K	20x	as long as short