Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0072%/8h= −7.9% APRpaid last 24h −0.024%

Price spread now: Popdex against BloFin+0.072%7-day average −0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$220.222% of the position

Long on BloFin Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.110%−$11 on $10k

Price spread, last 3 days (all we have)−0.018%−$2 · spread now +0.072%, 7d avg −0.002%

Together, before fees−0.128%−$13 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Popdex is 0.075% dearer against BloFin than usual: you sell high and buy low (spread +0.072% now, against its 7-day average of −0.002%): +$7 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin SKHY-USDT	193.19	0.0120	pay 0.0120% / 8h	6h 59m	$2.2M	$446K	50x
Short	Popdex SKHYUSDT	193.33	0.0048	get 0.0006% / 1h	59m 50s	$197K	$258K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against BloFin. 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 BloFinbpFee PopdexbpOrdersPrice spread, now +0.072%Rate

Funding earned: −$15.12
Price spread: +0.072% → −0.002%: $7.46
Slippage, 4 orders: −$3.76
Fee BloFin: 6 bp × 2 orders: −$12
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$29.83
Costs to cover: 0.222%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; Popdex: live order book, 9 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 BloFin live order book, 3 min ago	0.26 bp	6.8 bp −$7	8.2 bp −$82	15.6 bp −$1,564	40.7 bp −$20.3K
Sell Popdex live order book, 9 min ago	0.78 bp	4.7 bp −$5	8.2 bp −$82	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	−0.0880%	4h	193.20	+0.004%	$582K	$291K	10x	as long as short
Nado SKHY-PERP	−0.0023%	1h	193.33	+0.071%	$44K	$20K	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	193.23	+0.019%	$249K	$890K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	193.22	+0.015%	$56K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	193.26	+0.036%	$211.4M	$385.1M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	193.29	+0.052%	$15.7M	$27.1M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	193.31	+0.062%	$46.9M	$68.6M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	193.22	+0.016%	$25.8M	$18.9M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	193.13	−0.030%	$1.7M	$2.3M	—	as long as short
SunX SKHY-USDT	0.0000%	8h	193.59	+0.207%	$709	$6.7M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit SKHY_USDC-PERPETUAL	0.0000%	1h	193.25	+0.031%	$48K	$270K	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	193.19	0.000%	$160K	$376K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	193.22	+0.016%	$1.5M	$1.1M	10x	as long as short
QFEX SKHY-USD	+0.0005%	1h	193.27	+0.041%	$1.2M	$4.9M	10x	as long as short
Lighter SKHY	+0.0032%	1h	193.15	−0.021%	$1.0M	$699K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	193.11	−0.041%	$1.1M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	193.25	+0.031%	$57K	$153K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	193.29	+0.052%	—	$12K	10x	as long as short
Popdex SKHYUSDTshort	+0.0048%	1h	193.33	+0.072%	$197K	$258K	20x
tradeXYZ xyz:SKHY	+0.0050%	1h	193.19	0.000%	$163.5M	$66.7M	10x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	193.22	+0.016%	$190K	$454K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	193.18	−0.005%	$43K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	193.39	+0.104%	$541K	$1.7M	10x	as long as short
Coinbase International SKHY-PERP-INTX	+0.0088%	1h	193.24	+0.026%	$54K	$870K	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	193.31	+0.062%	$1.1M	$279K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	193.25	+0.031%	$2K	$4K	10x	as long as short
BloFin SKHY-USDTlong	+0.0120%	8h	193.19	long leg	$2.2M	$446K	50x
Phoenix SKHY	+0.0335%	1h	193.41	+0.114%	$218K	$120K	10x	as long as short
GRVT SKHY_USDT_Perp	+0.0406%	8h	193.39	+0.104%	$23K	$192K	10x	as long as short
Bitget SKHYUSDT	+0.0427%	8h	193.25	+0.031%	$25.7M	$27.0M	20x	as long as short
Kraken Futures PF_SKHYUSD	+0.0708%	1h	193.35	+0.085%	$51K	$17K	20x	as long as short