Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0011%/8h= +1.2% APRpaid last 24h −0.002%

Price spread now: QFEX against Variational Omni−0.309%47s7-day average −0.038% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.030%−$3 on $10k

Price spread, last 7 days+0.305%+$30 · spread now −0.309%, 7d avg −0.038%

Together, before fees+0.275%+ Points / potential airdropVariational Omni: Active · farm board+$28 on $10k · with fees, hour by hour

Funding pays, the price is against you. QFEX is 0.271% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.309% now, against its 7-day average of −0.038%). If the spread goes back, that is −$27 on $10k: about 3 months of funding at the current rate ($0 a day). The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni SKHY	191.43	0	get 0.0000% / 8h	3h 48m	$1.6M	$1.1M	—
Short	QFEX SKHY-USD	190.84	0.0011	get 0.0001% / 1h	48m 53s	$1.2M	$4.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Variational Omni. 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 Variational OmnibpFee QFEXbpOrdersPrice spread, now −0.309%Rate

Funding earned: $2.3
Price spread: −0.309% → −0.038%: −$27.11
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$34.81
Costs to cover: 0.100%
Break-even: 112.9 days

Slippage unknown: Variational Omni: RFQ quote, just now; QFEX: live order book, 4 min ago. Net counts fees only.

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 Variational Omni RFQ quote, just now	2.23 bp	doesn't fit	5.2 bp −$52	doesn't fit	doesn't fit
Sell QFEX live order book, 4 min ago	1.83 bp	6.8 bp −$7	8.8 bp −$88	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	−0.0312%	4h	191.61	+0.095%	$578K	$290K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0104%	1h	192.84	+0.736%	$45K	$861K	10x	as long as short
tradeXYZ xyz:SKHY	−0.0020%	1h	190.54	−0.466%	$159.3M	$68.7M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	190.64	−0.412%	$247K	$891K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	190.61	−0.431%	$56K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	190.68	−0.393%	$200.5M	$400.6M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	190.66	−0.403%	$15.4M	$28.3M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	190.57	−0.450%	$46.0M	$72.2M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	190.63	−0.419%	$25.6M	$19.2M	75x	as long as short
Bitget SKHYUSDT	0.0000%	8h	190.81	−0.325%	$24.4M	$28.0M	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SKHYlong	0.0000%	8h	191.43	long leg	$1.6M	$1.1M	—
GRVT SKHY_USDT_Perp	0.0000%	8h	191.64	+0.109%	$22K	$209K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	191.16	−0.142%	$700	$6.2M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	190.70	−0.382%	$159K	$370K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	190.77	−0.346%	$1.5M	$1.1M	10x	as long as short
QFEX SKHY-USDshort	+0.0011%	1h	190.84	−0.309%	$1.2M	$4.0M	10x
Lighter SKHY	+0.0032%	1h	190.61	−0.429%	$1.0M	$691K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	190.55	−0.460%	$1.1M	$1.4M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	191.29	−0.074%	$59K	$164K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	190.87	−0.293%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	190.86	−0.299%	$201K	$257K	20x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	190.75	−0.356%	$182K	$460K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	190.72	−0.372%	$42K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	190.84	−0.309%	$549K	$2.5M	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	190.66	−0.403%	$1.1M	$322K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	190.84	−0.309%	$2K	$4K	10x	as long as short
Nado SKHY-PERP	+0.0116%	1h	190.83	−0.316%	$34K	$28K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	190.70	−0.382%	$2.2M	$435K	50x	as long as short
Deribit SKHY_USDC-PERPETUAL	+0.0327%	1h	190.87	−0.293%	$48K	$325K	10x	as long as short
Phoenix SKHY	+0.0375%	1h	191.05	−0.199%	$214K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0686%	1h	190.87	−0.295%	$48K	$19K	20x	as long as short