Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0336%/8h= −36.8% APRpaid last 24h +0.011%

Price spread now: Popdex against SunX−0.150%7-day average −0.135% · 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−$134as in the Price arb table

costs, in and out, $10k−$1331.329% of the position

Long on SunX Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.047%+$5 on $10k

Price spread, last 4 days (all we have)+0.067%+$7 · spread now −0.150%, 7d avg −0.135%

Together, before fees+0.114%+$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.135%, so right now this pair is about funding alone: −$10 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 0.047% in total (about 4.6% 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	SunX SKHY-USDT	186.58	0	get 0.0000% / 8h	50m 50s	$683	$6.1M	10x
Short	Popdex SKHYUSDT	186.30	−0.0336	pay 0.0042% / 1h	50m 50s	$204K	$287K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against SunX. 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 SunXbpFee PopdexbpOrdersPrice spread, now −0.150%Rate

Funding earned: −$70.56
Price spread: −0.150% → −0.135%: −$1.51
Slippage, 4 orders: −$118.5
Fee SunX: 4 bp × 2 orders: −$8
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$204.98
Costs to cover: 1.329%
Break-even: never at this rate

Slippage from SunX: live order book, 8 min ago; Popdex: live order book, 53 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 SunX live order book, 8 min ago	29.56 bp	48.1 bp −$48	doesn't fit	doesn't fit	doesn't fit
Sell Popdex live order book, 53 min ago	1.07 bp	5.9 bp −$6	9.4 bp −$94	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	−0.1379%	8h	186.61	+0.016%	$25.4M	$32.8M	20x	as long as short
edgeX SKHYUSDC	−0.0889%	4h	186.25	−0.179%	$561K	$290K	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	−0.0501%	1h	186.34	−0.129%	$49K	$346K	10x	as long as short
Popdex SKHYUSDTshort	−0.0336%	1h	186.30	−0.150%	$204K	$287K	20x
tradeXYZ xyz:SKHY	−0.0319%	1h	186.36	−0.118%	$158.4M	$76.8M	10x	as long as short
Kraken Futures PF_SKHYUSD	−0.0266%	1h	186.44	−0.077%	$48K	$21K	20x	as long as short
Nado SKHY-PERP	−0.0237%	1h	186.53	−0.027%	$33K	$28K	10x	as long as short
Polymarket Perps SKHY-USD	−0.0226%	1h	186.20	−0.204%	$180K	$487K	10x	as long as short
Lighter SKHY	−0.0104%	1h	186.28	−0.161%	$974K	$1.2M	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0072%	1h	187.58	+0.536%	$68K	$905K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX SKHY-USD	−0.0061%	1h	186.32	−0.139%	$1.2M	$4.3M	10x	as long as short
Ondo Perps SKHY-USD.P	−0.0056%	1h	186.19	−0.209%	$520K	$2.6M	10x	as long as short
KuCoin SKHYUSDTM	−0.0014%	8h	186.25	−0.177%	$1.1M	$325K	20x	as long as short
Aster SKHYUSDT	0.0000%	8h	186.48	−0.056%	$224K	$925K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	186.33	−0.134%	$54K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	186.37	−0.113%	$200.3M	$449.9M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	186.35	−0.123%	$16.7M	$29.6M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	186.36	−0.118%	$44.4M	$79.0M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	186.34	−0.129%	$25.5M	$20.9M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	186.25	−0.178%	$1.6M	$1.0M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	186.21	−0.200%	$22K	$232K	10x	as long as short
SunX SKHY-USDTlong	0.0000%	8h	186.58	long leg	$683	$6.1M	10x
HTX SKHY-USDT	0.0000%	8h	186.28	−0.161%	$155K	$363K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	186.30	−0.150%	$1.5M	$1.1M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	186.24	−0.182%	$1.1M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	186.17	−0.220%	$60K	$171K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	186.37	−0.113%	—	$32K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	186.30	−0.150%	$41K	$12K	10x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	186.32	−0.139%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	186.32	−0.139%	$2.2M	$423K	50x	as long as short
Phoenix SKHY	+0.0129%	1h	186.38	−0.107%	$209K	$123K	10x	as long as short