Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0061%/8h= +6.6% APRpaid last 24h +0.002%

Price spread now: Binance against QFEX−0.005%7-day average +0.037% · 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−$28as in the Price arb table

costs, in and out, $10k−$240.243% of the position

Long on QFEX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.032%+$3 on $10k

Price spread, last 7 days+0.021%+$2 · spread now −0.005%, 7d avg +0.037%

Together, before fees+0.053%+$5 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.042% cheaper against QFEX than usual: you would sell low and buy high (spread −0.005% now, against its 7-day average of +0.037%). If the spread goes back, that is −$4 on $10k: about 2.3 days of funding at the current rate (+$2 a day). At the pace of the last 4 days (+0.032% in total) that is about 5.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX SKHY-USD	186.41	−0.0061	get 0.0008% / 1h	16m 28s	$1.2M	$4.3M	10x
Short	Binance SKHYUSDT	186.40	0	get 0.0000% / 8h	16m 28s	$200.1M	$452.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against QFEX. 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 QFEXbpFee BinancebpOrdersPrice spread, now −0.005%Rate

Funding earned: $12.75
Price spread: −0.005% → +0.037%: −$4.2
Slippage, 4 orders: −$4.26
Fee QFEX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$15.71
Costs to cover: 0.243%
Break-even: 15.6 days

Slippage from QFEX: live order book, 12 min ago; Binance: live order book, 12 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 QFEX live order book, 12 min ago	1.61 bp	6.6 bp −$7	9.3 bp −$93	doesn't fit	doesn't fit
Sell Binance live order book, 12 min ago	0.27 bp	5.5 bp −$5	8.2 bp −$82	15.1 bp −$1,513	84.6 bp −$42.3K

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	−0.1244%	8h	186.63	+0.118%	$25.6M	$33.3M	20x	as long as short
edgeX SKHYUSDC	−0.0805%	4h	186.49	+0.043%	$562K	$291K	10x	as long as short
Kraken Futures PF_SKHYUSD	−0.0266%	1h	186.48	+0.037%	$48K	$21K	20x	as long as short
tradeXYZ xyz:SKHY	−0.0168%	1h	186.39	−0.011%	$158.3M	$76.9M	10x	as long as short
Nado SKHY-PERP	−0.0142%	1h	186.36	−0.028%	$33K	$28K	10x	as long as short
Polymarket Perps SKHY-USD	−0.0081%	1h	186.34	−0.038%	$180K	$486K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0072%	1h	187.58	+0.628%	$68K	$803K	10x	as long as short
QFEX SKHY-USDlong	−0.0061%	1h	186.41	long leg	$1.2M	$4.3M	10x
Popdex SKHYUSDT	−0.0056%	1h	186.43	+0.011%	$204K	$287K	20x	as long as short
KuCoin SKHYUSDTM	−0.0053%	8h	186.38	−0.016%	$1.1M	$341K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter SKHY	−0.0008%	1h	186.36	−0.027%	$974K	$1.2M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	186.40	−0.005%	$223K	$899K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	186.36	−0.025%	$54K	$7K	10x	as long as short
Binance SKHYUSDTshort	0.0000%	8h	186.40	−0.005%	$200.1M	$452.0M	50x
Bybit SKHYUSDT	0.0000%	8h	186.40	−0.005%	$16.6M	$29.4M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	186.40	−0.005%	$44.6M	$79.8M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	186.43	+0.011%	$25.5M	$21.1M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	186.36	−0.026%	$1.6M	$1.0M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	186.56	+0.080%	$22K	$236K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	186.69	+0.150%	$683	$6.1M	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	0.0000%	1h	186.36	−0.027%	$49K	$347K	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	186.34	−0.038%	$155K	$363K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	186.41	0.000%	$1.5M	$1.1M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	186.30	−0.059%	$1.1M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	186.40	−0.005%	$60K	$171K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	186.36	−0.027%	—	$32K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0048%	1h	186.40	−0.005%	$520K	$2.6M	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	186.39	−0.011%	$41K	$12K	10x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	186.37	−0.021%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	186.38	−0.016%	$2.2M	$426K	50x	as long as short
Phoenix SKHY	+0.0129%	1h	186.63	+0.118%	$209K	$123K	10x	as long as short