Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0024%/8h= +2.6% APRpaid last 24h +0.009%

Price spread now: KuCoin against QFEX−0.016%7-day average +0.012% · 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−$91as in the Price arb table

costs, in and out, $10k−$880.884% of the position

Long on QFEX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.066%+$7 on $10k

Price spread, last 7 days+0.033%+$3 · spread now −0.016%, 7d avg +0.012%

Together, before fees+0.099%+$10 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.028% cheaper against QFEX than usual: you would sell low and buy high (spread −0.016% now, against its 7-day average of +0.012%). If the spread goes back, that is −$3 on $10k: about 3.9 days of funding at the current rate (+$1 a day). At the pace of the last 4 days (+0.066% in total) that is about 38 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX SKHY-USD	186.62	−0.0061	get 0.0008% / 1h	31m 18s	$1.2M	$4.3M	10x
Short	KuCoin SKHYUSDTM	186.59	−0.0037	pay 0.0037% / 8h	31m 18s	$1.1M	$328K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against QFEX. 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 QFEXbpFee KuCoinbpOrdersPrice spread, now −0.016%Rate

Funding earned: $4.98
Price spread: −0.016% → +0.012%: −$2.78
Slippage, 4 orders: −$66.38
Fee QFEX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$86.18
Costs to cover: 0.884%
Break-even: 128.1 days

Slippage from QFEX: live order book, 7 min ago; KuCoin: live order book, 3 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 QFEX live order book, 7 min ago	1.61 bp	6.6 bp −$7	8.0 bp −$80	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	2.95 bp	38.5 bp −$38	doesn't fit	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	−0.1260%	8h	186.77	+0.080%	$25.4M	$33.1M	20x	as long as short
edgeX SKHYUSDC	−0.0943%	4h	186.65	+0.016%	$563K	$291K	10x	as long as short
Kraken Futures PF_SKHYUSD	−0.0266%	1h	186.64	+0.010%	$48K	$21K	20x	as long as short
tradeXYZ xyz:SKHY	−0.0211%	1h	186.57	−0.027%	$158.5M	$76.9M	10x	as long as short
Nado SKHY-PERP	−0.0169%	1h	186.69	+0.037%	$33K	$28K	10x	as long as short
Polymarket Perps SKHY-USD	−0.0122%	1h	186.50	−0.064%	$180K	$487K	10x	as long as short
Popdex SKHYUSDT	−0.0120%	1h	186.61	−0.005%	$205K	$288K	20x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0072%	1h	187.58	+0.514%	$68K	$905K	10x	as long as short
QFEX SKHY-USDlong	−0.0061%	1h	186.62	long leg	$1.2M	$4.3M	10x
KuCoin SKHYUSDTMshort	−0.0037%	8h	186.59	−0.016%	$1.1M	$328K	20x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter SKHY	−0.0008%	1h	186.55	−0.038%	$975K	$1.2M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	186.69	+0.038%	$223K	$925K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	186.53	−0.046%	$54K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	186.59	−0.016%	$200.6M	$450.7M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	186.59	−0.016%	$16.7M	$29.4M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	186.60	−0.011%	$44.7M	$79.7M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	186.58	−0.021%	$25.5M	$21.0M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	186.58	−0.022%	$1.6M	$1.0M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	186.63	+0.005%	$22K	$233K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	186.83	+0.113%	$684	$6.1M	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	0.0000%	1h	186.61	−0.005%	$49K	$347K	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	186.52	−0.054%	$155K	$363K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	186.57	−0.027%	$1.5M	$1.1M	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0029%	1h	186.60	−0.011%	$521K	$2.6M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	186.54	−0.043%	$1.1M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	186.60	−0.011%	$60K	$171K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	186.59	−0.016%	—	$32K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	186.55	−0.038%	$41K	$12K	10x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	186.58	−0.021%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	186.65	+0.016%	$2.2M	$426K	50x	as long as short
Phoenix SKHY	+0.0129%	1h	186.87	+0.134%	$209K	$123K	10x	as long as short