Funding you earn now, next payment 10:00 UTC+0.0490%/8h= +53.7% APRnext payment +$0.61 per $10,000 · paid last 24h +0.008%
Price spread now: QFEX against Deribit+0.096%7-day average −0.024% · 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−$28as in the Price arb table
costs, in and out, $10k−$400.400% of the position
Funding, last 4 days (all we have)+0.005%+$1 on $10k
+Price spread, last 4 days (all we have)+0.011%+$1 · spread now +0.096%, 7d avg −0.024%
=Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and QFEX is 0.120% dearer against Deribit than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of −0.024%.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.005% in total (about 0.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.61 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit SKHY_USDC-PERPETUAL | 187.79 | −0.0495 | get 0.0062% / 1h | 59m 23s | $26K | $447K | 10x |
| Short | QFEX SKHY-USD | 187.97 | −0.0005 | pay 0.0001% / 1h | 59m 23s | $1.2M | $4.3M | 10x |
Deribit SKHY_USDC-PERPETUAL
QFEX SKHY-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX against Deribit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $102.92
- Price spread: +0.096% → −0.024%
- $12.03
- Slippage, 4 orders
- −$22.96
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- $74.99
- Costs to cover
- 0.400%
- Break-even
- 1.9 days
Slippage from Deribit: live order book, 52 min ago; QFEX: live order book, 7 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 Deribit live order book, 52 min ago | 3.76 bp | 20.0 bp −$20 | 25.2 bp −$252 | doesn't fit | doesn't fit |
| Sell QFEX live order book, 7 min ago | 1.33 bp | 6.3 bp −$6 | 9.0 bp −$90 | 20.5 bp −$2,046 | doesn't fit |
SKHY on 31 exchanges
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 | −0.0629% | 8h | 187.94 | +0.080% | $26.0M | $36.4M | 20x | as long as short |
| edgeX SKHYUSDC | −0.0532% | 4h | 188.03 | +0.127% | $567K | $287K | 10x | as long as short |
| Popdex SKHYUSDT | −0.0528% | 1h | 187.98 | +0.101% | $203K | $307K | 20x | as long as short |
| Deribit SKHY_USDC-PERPETUALlong | −0.0495% | 1h | 187.79 | long leg | $26K | $447K | 10x | |
| tradeXYZ xyz:SKHY | −0.0295% | 1h | 187.82 | +0.016% | $158.5M | $78.1M | 10x | as long as short |
| Kraken Futures PF_SKHYUSD | −0.0267% | 1h | 187.72 | −0.038% | $51K | $36K | 20x | as long as short |
| Polymarket Perps SKHY-USD | −0.0211% | 1h | 187.76 | −0.016% | $182K | $352K | 10x | as long as short |
| Nado SKHY-PERP | −0.0179% | 1h | 187.84 | +0.029% | $32K | $28K | 10x | as long as short |
| KuCoin SKHYUSDTM | −0.0117% | 8h | 187.87 | +0.043% | $1.1M | $462K | 20x | as long as short |
| Coinbase International SKHY-PERP-INTX | −0.0040% | 1h | 187.65 | −0.075% | $110K | $779K | 10x | as long as short |
Bitget SKHYUSDT
edgeX SKHYUSDC
Popdex SKHYUSDT
tradeXYZ xyz:SKHY
Kraken Futures PF_SKHYUSD
Polymarket Perps SKHY-USD
Nado SKHY-PERP
KuCoin SKHYUSDTM
Coinbase International SKHY-PERP-INTXShow all 31 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| QFEX SKHY-USDshort | −0.0005% | 1h | 187.97 | +0.096% | $1.2M | $4.3M | 10x | |
| Aster SKHYUSDT | 0.0000% | 8h | 187.94 | +0.080% | $264K | $912K | 50x | as long as short |
| Extended SKHY-USD | 0.0000% | 1h | 187.88 | +0.047% | $55K | $7K | 10x | as long as short |
| Binance SKHYUSDT | 0.0000% | 8h | 187.84 | +0.027% | $198.2M | $473.0M | 50x | as long as short |
| Bybit SKHYUSDT | 0.0000% | 8h | 187.85 | +0.032% | $16.3M | $34.2M | 100x | as long as short |
| OKX SKHY-USDT-SWAP | 0.0000% | 8h | 187.87 | +0.043% | $44.5M | $85.5M | 50x | as long as short |
| Gate SKHY_USDT | 0.0000% | 8h | 187.89 | +0.053% | $25.3M | $21.5M | 75x | as long as short |
| Variational Omni SKHY | 0.0000% | 8h | 188.03 | +0.128% | $1.5M | $1.0M | — | as long as short |
| GRVT SKHY_USDT_Perp | 0.0000% | 8h | 188.07 | +0.150% | $22K | $246K | 10x | as long as short |
| SunX SKHY-USDT | 0.0000% | 8h | 188.22 | +0.229% | $689 | $5.5M | 10x | as long as short |
| HTX SKHY-USDT | 0.0000% | 8h | 187.74 | −0.027% | $155K | $376K | 50x | as long as short |
| Phemex SKHYUSDT | 0.0000% | 8h | 187.88 | +0.048% | $1.5M | $1.1M | 10x | as long as short |
| Ondo Perps SKHY-USD.P | +0.0020% | 1h | 187.84 | +0.027% | $524K | $2.5M | 10x | as long as short |
| Lighter SKHY | +0.0032% | 1h | 187.85 | +0.032% | $992K | $1.3M | 10x | as long as short |
| Lighter RH SKHY | +0.0032% | 1h | 187.95 | +0.085% | $1.1M | $1.5M | 10x | as long as short |
| Arcus SKHY-USD | +0.0040% | 1h | 187.97 | +0.096% | $60K | $132K | 10x | as long as short |
| Vest SKHY-USD-PERP | +0.0046% | 1h | 187.97 | +0.096% | — | $39K | 10x | as long as short |
| SoDEX SKHY-USD | +0.0050% | 1h | 187.90 | +0.059% | $41K | $12K | 10x | as long as short |
| Orderly PERP_SKHY_USDC_mythos | +0.0100% | 8h | 187.92 | +0.069% | $2K | $4K | 10x | as long as short |
| BloFin SKHY-USDT | +0.0120% | 8h | 187.88 | +0.048% | $2.2M | $462K | 50x | as long as short |
| Phoenix SKHY | +0.0257% | 1h | 188.11 | +0.170% | $211K | $123K | 10x | as long as short |
Aster SKHYUSDT
Extended SKHY-USD
Binance SKHYUSDT
Bybit SKHYUSDT
OKX SKHY-USDT-SWAP
Gate SKHY_USDT
Variational Omni SKHY
GRVT SKHY_USDT_Perp
SunX SKHY-USDT
HTX SKHY-USDT
Phemex SKHYUSDT
Ondo Perps SKHY-USD.P
Lighter SKHY
Lighter RH SKHY
Arcus SKHY-USD
Vest SKHY-USD-PERP
SoDEX SKHY-USD
Orderly PERP_SKHY_USDC_mythos
BloFin SKHY-USDT
Phoenix SKHY