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: QFEX against SunX−0.155%7-day average −0.148% · 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−$1341.337% of the position

Long on SunX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.006%−$1 on $10k

Price spread, last 4 days (all we have)+0.041%+$4 · spread now −0.155%, 7d avg −0.148%

Together, before fees+0.035%+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.148%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX SKHY-USDT	186.56	0	get 0.0000% / 8h	13m 50s	$683	$6.1M	10x
Short	QFEX SKHY-USD	186.27	−0.0061	pay 0.0008% / 1h	13m 50s	$1.2M	$4.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.155%Rate

Funding earned: −$12.75
Price spread: −0.155% → −0.148%: −$0.75
Slippage, 4 orders: −$115.69
Fee SunX: 4 bp × 2 orders: −$8
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$147.2
Costs to cover: 1.337%
Break-even: never at this rate

Slippage from SunX: live order book, 5 min ago; QFEX: live order book, 5 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, 5 min ago	29.72 bp	47.7 bp −$48	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 5 min ago	1.61 bp	6.6 bp −$7	9.2 bp −$92	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	−0.1243%	8h	186.49	−0.038%	$25.5M	$33.4M	20x	as long as short
edgeX SKHYUSDC	−0.0427%	4h	186.38	−0.098%	$562K	$291K	10x	as long as short
Kraken Futures PF_SKHYUSD	−0.0266%	1h	186.42	−0.076%	$48K	$21K	20x	as long as short
tradeXYZ xyz:SKHY	−0.0157%	1h	186.23	−0.177%	$158.2M	$76.9M	10x	as long as short
Nado SKHY-PERP	−0.0137%	1h	186.32	−0.131%	$33K	$28K	10x	as long as short
Polymarket Perps SKHY-USD	−0.0073%	1h	186.23	−0.177%	$180K	$486K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0072%	1h	187.58	+0.547%	$68K	$803K	10x	as long as short
QFEX SKHY-USDshort	−0.0061%	1h	186.27	−0.155%	$1.2M	$4.3M	10x
KuCoin SKHYUSDTM	−0.0053%	8h	186.31	−0.134%	$1.1M	$344K	20x	as long as short
Popdex SKHYUSDT	−0.0040%	1h	186.30	−0.139%	$204K	$287K	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	0.0000%	1h	186.21	−0.188%	$973K	$1.2M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	186.34	−0.117%	$223K	$899K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	186.21	−0.189%	$54K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	186.25	−0.165%	$200.0M	$452.1M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	186.32	−0.129%	$16.6M	$29.4M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	186.22	−0.182%	$44.5M	$79.8M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	186.26	−0.161%	$25.5M	$21.1M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	186.36	−0.109%	$1.6M	$1.1M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	186.56	0.000%	$22K	$236K	10x	as long as short
SunX SKHY-USDTlong	0.0000%	8h	186.56	long leg	$683	$6.1M	10x
Deribit SKHY_USDC-PERPETUAL	0.0000%	1h	186.34	−0.118%	$49K	$347K	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	186.23	−0.177%	$154K	$363K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	186.31	−0.134%	$1.5M	$1.1M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	186.18	−0.204%	$1.1M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	186.33	−0.123%	$60K	$171K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	186.24	−0.172%	—	$32K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	186.28	−0.150%	$41K	$12K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	186.26	−0.161%	$520K	$2.6M	10x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	186.33	−0.123%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	186.27	−0.155%	$2.2M	$426K	50x	as long as short
Phoenix SKHY	+0.0129%	1h	186.60	+0.021%	$209K	$123K	10x	as long as short