Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h −0.014%

Price spread now: OKX against Popdex+0.036%7-day average −0.013% · 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−$18as in the Price arb table

costs, in and out, $10k−$230.229% of the position

Long on Popdex Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.016%−$2 on $10k

Price spread, last 4 days (all we have)−0.112%−$11 · spread now +0.036%, 7d avg −0.013%

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

The price spread pays, funding is against you. OKX is 0.050% dearer against Popdex than usual: you sell high and buy low (spread +0.036% now, against its 7-day average of −0.013%): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.5 days. At the pace of the last 4 days (−0.016% in total) that is about 11 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex SKHYUSDT	192.84	0.0048	pay 0.0006% / 1h	23m 06s	$199K	$256K	20x
Short	OKX SKHY-USDT-SWAP	192.91	0	get 0.0000% / 8h	5h 23m	$46.7M	$69.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Popdex. 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 PopdexbpFee OKXbpOrdersPrice spread, now +0.036%Rate

Funding earned: −$10.08
Price spread: +0.036% → −0.013%: $4.97
Slippage, 4 orders: −$6.47
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee OKX: 5 bp × 2 orders: −$10
Net: −$27.98
Costs to cover: 0.229%
Break-even: never at this rate

Slippage from Popdex: live order book, 41 min ago; OKX: live order book, 1 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 Popdex live order book, 41 min ago	1.04 bp	4.6 bp −$5	8.5 bp −$85	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	0.26 bp	5.4 bp −$5	6.9 bp −$69	33.4 bp −$3,343	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	−0.0383%	4h	192.65	−0.100%	$581K	$290K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0032%	1h	192.90	+0.031%	$45K	$874K	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	192.76	−0.040%	$248K	$888K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	192.81	−0.018%	$56K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	192.89	+0.027%	$206.4M	$390.2M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	192.90	+0.031%	$15.7M	$27.3M	100x	as long as short
OKX SKHY-USDT-SWAPshort	0.0000%	8h	192.91	+0.036%	$46.7M	$69.4M	50x
Gate SKHY_USDT	0.0000%	8h	192.84	0.000%	$25.8M	$19.0M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	192.70	−0.075%	$1.6M	$1.2M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	192.68	−0.083%	$23K	$195K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX SKHY-USDT	0.0000%	8h	193.21	+0.192%	$707	$6.4M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	192.84	0.000%	$160K	$368K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	192.89	+0.026%	$1.5M	$1.1M	10x	as long as short
QFEX SKHY-USD	+0.0004%	1h	192.71	−0.067%	$1.2M	$4.3M	10x	as long as short
Lighter SKHY	+0.0032%	1h	192.75	−0.047%	$1.0M	$688K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	192.75	−0.047%	$1.1M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	192.69	−0.078%	$57K	$154K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	192.71	−0.067%	—	$11K	10x	as long as short
Popdex SKHYUSDTlong	+0.0048%	1h	192.84	long leg	$199K	$256K	20x
tradeXYZ xyz:SKHY	+0.0050%	1h	192.80	−0.021%	$161.3M	$67.2M	10x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	192.71	−0.067%	$188K	$456K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	192.78	−0.031%	$43K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	192.64	−0.104%	$584K	$2.2M	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	192.77	−0.036%	$1.1M	$291K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	192.79	−0.026%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	192.90	+0.031%	$2.3M	$446K	50x	as long as short
Bitget SKHYUSDT	+0.0131%	8h	192.82	−0.010%	$25.4M	$26.8M	20x	as long as short
Nado SKHY-PERP	+0.0168%	1h	192.75	−0.047%	$38K	$26K	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	+0.0321%	1h	192.89	+0.026%	$49K	$296K	10x	as long as short
Phoenix SKHY	+0.0332%	1h	192.82	−0.010%	$216K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0546%	1h	192.95	+0.055%	$51K	$17K	20x	as long as short