Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0049%/8h= −5.3% APRpaid last 24h −0.008%

Price spread now: Phemex against tradeXYZ+0.104%7-day average +0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$110as in the Funding arb table

Net, price: spread back to 7d avg − costs−$107as in the Price arb table

costs, in and out, $10k−$1151.149% of the position

Long on tradeXYZ Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.047%+$5 on $10k

Price spread, last 4 days (all we have)−0.176%−$18 · spread now +0.104%, 7d avg +0.026%

Together, before fees−0.128%+ Points / potential airdroptradeXYZ: Active · farm board−$13 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.078% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.104% now, against its 7-day average of +0.026%): +$8 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:SKHY	193.03	0.0049	pay 0.0006% / 1h	34m 20s	$161.5M	$67.7M	10x
Short	Phemex SKHYUSDT	193.23	0	get 0.0000% / 8h	4h 34m	$1.5M	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against tradeXYZ. 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 tradeXYZbpFee PhemexbpOrdersPrice spread, now +0.104%Rate

Funding earned: −$10.23
Price spread: +0.104% → +0.026%: $7.77
Slippage, 4 orders: −$84.93
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$117.39
Costs to cover: 1.149%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 6 min ago; Phemex: live order book, 4 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 tradeXYZ live order book, 6 min ago	0.52 bp	9.9 bp −$10	11.3 bp −$113	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	2.33 bp	52.5 bp −$52	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
edgeX SKHYUSDC	−0.0308%	4h	193.10	+0.039%	$582K	$290K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0048%	1h	192.84	−0.098%	$45K	$861K	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	193.08	+0.026%	$249K	$889K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	193.10	+0.035%	$56K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	193.16	+0.069%	$204.4M	$392.8M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	193.16	+0.067%	$15.7M	$27.5M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	193.19	+0.083%	$46.6M	$69.9M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	193.07	+0.021%	$25.8M	$18.8M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	193.08	+0.027%	$1.6M	$1.1M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	193.12	+0.047%	$23K	$201K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX SKHY-USDT	0.0000%	8h	193.40	+0.192%	$708	$6.3M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	193.05	+0.010%	$161K	$367K	50x	as long as short
Phemex SKHYUSDTshort	0.0000%	8h	193.23	+0.104%	$1.5M	$1.1M	10x
QFEX SKHY-USD	+0.0015%	1h	193.07	+0.021%	$1.2M	$4.1M	10x	as long as short
Lighter SKHY	+0.0032%	1h	193.07	+0.021%	$1.0M	$686K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	193.08	+0.026%	$1.1M	$1.6M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	193.04	+0.005%	$57K	$154K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	193.07	+0.021%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	193.12	+0.047%	$201K	$255K	20x	as long as short
tradeXYZ xyz:SKHYlong	+0.0049%	1h	193.03	long leg	$161.5M	$67.7M	10x
Polymarket Perps SKHY-USD	+0.0050%	1h	193.02	−0.005%	$189K	$456K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	193.13	+0.052%	$43K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	193.06	+0.016%	$574K	$2.3M	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	193.04	+0.005%	$1.1M	$305K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	193.13	+0.052%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	193.10	+0.036%	$2.2M	$437K	50x	as long as short
Nado SKHY-PERP	+0.0138%	1h	193.09	+0.030%	$38K	$26K	10x	as long as short
Bitget SKHYUSDT	+0.0158%	8h	193.15	+0.062%	$25.3M	$26.9M	20x	as long as short
Deribit SKHY_USDC-PERPETUAL	+0.0216%	1h	193.20	+0.088%	$49K	$316K	10x	as long as short
Phoenix SKHY	+0.0372%	1h	193.09	+0.031%	$216K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.1057%	1h	193.22	+0.100%	$49K	$19K	20x	as long as short