Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0114%/8h= −12.5% APRpaid last 24h −0.032%

Price spread now: QFEX against Orderly−0.021%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and QFEX is 0.021% cheaper against Orderly than usual: you would sell low and buy high (−$2 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_SKHY_USDC_mythos	187.91	0.0100	pay 0.0100% / 8h	2h 08m	$2K	$4K	10x
Short	QFEX SKHY-USD	187.87	−0.0014	pay 0.0002% / 1h	8m 13s	$1.2M	$4.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Orderly. 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 OrderlybpFee QFEXbpOrdersPrice spread, now −0.021%Rate

Funding earned: −$23.97
Price spread: −0.021% → 0.000%: −$2.13
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$42.1
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; QFEX: live order book, 5 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 Orderly no order-book sample	—	—	—	—	—
Sell QFEX live order book, 5 min ago	1.87 bp	6.9 bp −$7	8.1 bp −$81	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1192%	8h	187.97	+0.032%	$25.1M	$31.3M	20x	as long as short
Deribit SKHY_USDC-PERPETUAL	−0.0388%	1h	187.92	+0.005%	$48K	$336K	10x	as long as short
edgeX SKHYUSDC	−0.0375%	4h	187.52	−0.206%	$565K	$290K	10x	as long as short
Nado SKHY-PERP	−0.0146%	1h	188.00	+0.050%	$33K	$28K	10x	as long as short
tradeXYZ xyz:SKHY	−0.0120%	1h	187.83	−0.043%	$159.4M	$74.1M	10x	as long as short
Polymarket Perps SKHY-USD	−0.0095%	1h	187.78	−0.069%	$181K	$487K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0024%	1h	187.32	−0.314%	$61K	$897K	10x	as long as short
QFEX SKHY-USDshort	−0.0014%	1h	187.87	−0.021%	$1.2M	$4.1M	10x
Ondo Perps SKHY-USD.P	−0.0010%	1h	187.65	−0.138%	$516K	$2.6M	10x	as long as short
Lighter SKHY	−0.0008%	1h	187.86	−0.027%	$931K	$1.1M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster SKHYUSDT	0.0000%	8h	187.95	+0.023%	$229K	$916K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	187.83	−0.043%	$55K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	187.88	−0.014%	$201.5M	$434.1M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	187.93	+0.011%	$15.9M	$30.2M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	187.83	−0.043%	$44.7M	$77.5M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	187.82	−0.048%	$25.3M	$20.8M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	187.51	−0.212%	$1.6M	$1.0M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	187.67	−0.130%	$22K	$223K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	188.10	+0.101%	$688	$6.2M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	187.71	−0.106%	$156K	$371K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	187.88	−0.016%	$1.5M	$1.1M	10x	as long as short
Popdex SKHYUSDT	+0.0024%	1h	187.93	+0.011%	$197K	$273K	20x	as long as short
Lighter RH SKHY	+0.0032%	1h	187.71	−0.106%	$1.1M	$1.6M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	187.52	−0.208%	$58K	$164K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	187.94	+0.016%	—	$12K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	187.80	−0.059%	$41K	$13K	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	187.87	−0.021%	$1.1M	$322K	20x	as long as short
Orderly PERP_SKHY_USDC_mythoslong	+0.0100%	8h	187.91	long leg	$2K	$4K	10x
BloFin SKHY-USDT	+0.0120%	8h	187.68	−0.122%	$2.1M	$416K	50x	as long as short
Phoenix SKHY	+0.0254%	1h	188.02	+0.059%	$211K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0260%	1h	187.95	+0.019%	$47K	$19K	20x	as long as short