Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0528%/8h= −57.8% APRpaid last 24h +0.010%

Price spread now: Popdex against SunX−0.128%7-day average −0.136% · 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−$134as in the Price arb table

costs, in and out, $10k−$1351.349% of the position

Long on SunX Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.048%+$5 on $10k

Price spread, last 4 days (all we have)+0.130%+$13 · spread now −0.128%, 7d avg −0.136%

Together, before fees+0.178%+$18 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.136%, so right now this pair is about funding alone: −$16 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.048% in total (about 4.6% a year). A funding rate is set anew for every payment. 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	SunX SKHY-USDT	188.22	0	get 0.0000% / 8h	5h 59m	$689	$5.5M	10x
Short	Popdex SKHYUSDT	187.98	−0.0528	pay 0.0066% / 1h	59m 18s	$203K	$307K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against SunX. 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 SunXbpFee PopdexbpOrdersPrice spread, now −0.128%Rate

Funding earned: −$110.88
Price spread: −0.128% → −0.136%: $0.86
Slippage, 4 orders: −$120.46
Fee SunX: 4 bp × 2 orders: −$8
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$244.88
Costs to cover: 1.349%
Break-even: never at this rate

Slippage from SunX: live order book, 13 min ago; Popdex: live order book, 52 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 SunX live order book, 13 min ago	29.66 bp	47.9 bp −$48	doesn't fit	doesn't fit	doesn't fit
Sell Popdex live order book, 52 min ago	2.68 bp	7.2 bp −$7	10.9 bp −$109	doesn't fit	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	−0.149%	$26.0M	$36.4M	20x	as long as short
edgeX SKHYUSDC	−0.0532%	4h	188.03	−0.102%	$567K	$287K	10x	as long as short
Popdex SKHYUSDTshort	−0.0528%	1h	187.98	−0.128%	$203K	$307K	20x
Deribit SKHY_USDC-PERPETUAL	−0.0495%	1h	187.79	−0.228%	$26K	$447K	10x	as long as short
tradeXYZ xyz:SKHY	−0.0295%	1h	187.82	−0.213%	$158.5M	$78.1M	10x	as long as short
Kraken Futures PF_SKHYUSD	−0.0267%	1h	187.72	−0.267%	$51K	$36K	20x	as long as short
Polymarket Perps SKHY-USD	−0.0211%	1h	187.76	−0.244%	$182K	$352K	10x	as long as short
Nado SKHY-PERP	−0.0179%	1h	187.84	−0.200%	$32K	$28K	10x	as long as short
KuCoin SKHYUSDTM	−0.0117%	8h	187.87	−0.186%	$1.1M	$462K	20x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0040%	1h	187.65	−0.303%	$110K	$779K	10x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX SKHY-USD	−0.0005%	1h	187.97	−0.133%	$1.2M	$4.3M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	187.94	−0.149%	$264K	$912K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	187.88	−0.182%	$55K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	187.84	−0.202%	$198.2M	$473.0M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	187.85	−0.197%	$16.3M	$34.2M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	187.87	−0.186%	$44.5M	$85.5M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	187.89	−0.175%	$25.3M	$21.5M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	188.03	−0.101%	$1.5M	$1.0M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	188.07	−0.079%	$22K	$246K	10x	as long as short
SunX SKHY-USDTlong	0.0000%	8h	188.22	long leg	$689	$5.5M	10x
HTX SKHY-USDT	0.0000%	8h	187.74	−0.255%	$155K	$376K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	187.88	−0.181%	$1.5M	$1.1M	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0020%	1h	187.84	−0.202%	$524K	$2.5M	10x	as long as short
Lighter SKHY	+0.0032%	1h	187.85	−0.197%	$992K	$1.3M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	187.95	−0.143%	$1.1M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	187.97	−0.133%	$60K	$132K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	187.97	−0.133%	—	$39K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	187.90	−0.170%	$41K	$12K	10x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	187.92	−0.159%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	187.88	−0.181%	$2.2M	$462K	50x	as long as short
Phoenix SKHY	+0.0257%	1h	188.11	−0.058%	$211K	$123K	10x	as long as short