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 Binance−0.075%53s7-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—prices read too far apart to compare

costs, in and out, $10k−$230.232% of the position

Long on Binance Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.031%−$3 on $10k

Price spread, last 7 days+0.059%+$6 · spread now −0.075%, 7d avg −0.037%

Together, before fees+0.028%+$3 on $10k · with fees, hour by hour

Funding pays, the price is against you. QFEX is 0.038% cheaper against Binance than usual: you would sell low and buy high (spread −0.075% now, against its 7-day average of −0.037%). If the spread goes back, that is −$4 on $10k: about 12 days of funding at the current rate ($0 a day). The two prices were read 53 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	Binance SKHYUSDT	188.94	0	get 0.0000% / 8h	3h 04m	$199.3M	$412.3M	50x
Short	QFEX SKHY-USD	188.80	0.0011	get 0.0001% / 1h	4m 49s	$1.2M	$4.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Binance. 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 BinancebpFee QFEXbpOrdersPrice spread, now −0.075%Rate

Funding earned: $2.3
Price spread: −0.075% → −0.037%: −$3.81
Slippage, 4 orders: −$3.19
Fee Binance: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$24.7
Costs to cover: 0.232%
Break-even: 82.1 days

Slippage from Binance: live order book, 9 min ago; QFEX: 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 Binance live order book, 9 min ago	0.26 bp	5.3 bp −$5	6.4 bp −$64	23.3 bp −$2,333	78.5 bp −$39.2K
Sell QFEX live order book, 4 min ago	1.06 bp	6.1 bp −$6	6.8 bp −$68	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	−0.0318%	8h	188.93	−0.006%	$24.3M	$29.4M	20x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0104%	1h	189.86	+0.486%	$36K	$876K	10x	as long as short
edgeX SKHYUSDC	−0.0055%	4h	188.56	−0.201%	$568K	$290K	10x	as long as short
tradeXYZ xyz:SKHY	−0.0017%	1h	188.83	−0.059%	$158.4M	$70.1M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	188.94	+0.001%	$244K	$896K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	188.82	−0.064%	$55K	$7K	10x	as long as short
Binance SKHYUSDTlong	0.0000%	8h	188.94	long leg	$199.3M	$412.3M	50x
Bybit SKHYUSDT	0.0000%	8h	188.97	+0.015%	$15.4M	$29.1M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	188.95	+0.005%	$44.8M	$73.8M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	188.79	−0.080%	$25.3M	$19.9M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SKHY	0.0000%	8h	188.92	−0.010%	$1.6M	$1.1M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	188.81	−0.067%	$22K	$216K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	189.07	+0.068%	$692	$6.2M	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	0.0000%	1h	188.89	−0.027%	$48K	$330K	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	188.72	−0.117%	$156K	$370K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	188.96	+0.010%	$1.5M	$1.1M	10x	as long as short
Lighter SKHY	+0.0008%	1h	188.85	−0.048%	$995K	$747K	10x	as long as short
QFEX SKHY-USDshort	+0.0011%	1h	188.80	−0.075%	$1.2M	$4.1M	10x
Nado SKHY-PERP	+0.0014%	1h	188.90	−0.020%	$33K	$28K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	188.76	−0.096%	$1.0M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	188.80	−0.075%	$58K	$164K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	188.87	−0.038%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	188.80	−0.075%	$199K	$257K	20x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	188.69	−0.133%	$182K	$472K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	188.78	−0.085%	$42K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	188.78	−0.085%	$526K	$2.6M	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	188.88	−0.032%	$1.1M	$312K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	188.87	−0.038%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	188.87	−0.038%	$2.2M	$438K	50x	as long as short
Phoenix SKHY	+0.0375%	1h	189.01	+0.036%	$212K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0694%	1h	188.84	−0.053%	$48K	$19K	20x	as long as short