Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.1021%/8h= −111.8% APRpaid last 24h −0.176%

Price spread now: edgeX against Arcus+0.064%54s7-day average +0.027% · 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—prices read too far apart to compare

costs, in and out, $10k−$330.326% of the position

Long on Arcus Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.232%+$23 on $10k

Price spread, last 4 days (all we have)+0.100%+$10 · spread now +0.064%, 7d avg +0.027%

Together, before fees+0.331%+ Points / potential airdropedgeX: Active · farm board+$33 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.037% dearer against Arcus than usual: you sell high and buy low (spread +0.064% now, against its 7-day average of +0.027%): +$4 on $10k if it goes back. Holding the pair costs −$31 a day in funding at the current rate, which eats that in about 3 hours. Mind the row above: over the last 4 days funding on this pair paid +0.232%, so the current rate has only just turned against you. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.232% in total (about 23.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus SKHY-USD	190.54	0.0040	pay 0.0005% / 1h	39m 54s	$59K	$164K	10x
Short	edgeX SKHYUSDC	190.66	−0.0981	pay 0.0490% / 4h	3h 39m	$575K	$290K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Arcus. 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 ArcusbpFee edgeXbpOrdersPrice spread, now +0.064%Rate

Funding earned: −$214.39
Price spread: +0.064% → +0.027%: $3.71
Slippage, 4 orders: −$19.12
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$243.3
Costs to cover: 0.326%
Break-even: never at this rate

Slippage from Arcus: live order book, 13 min ago; edgeX: live order book, 14 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 Arcus live order book, 13 min ago	6.53 bp	9.6 bp −$10	19.1 bp −$191	doesn't fit	doesn't fit
Sell edgeX live order book, 14 min ago	1.04 bp	5.9 bp −$6	11.1 bp −$111	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
edgeX SKHYUSDCshort	−0.0981%	4h	190.66	+0.064%	$575K	$290K	10x
Coinbase International SKHY-PERP-INTX	−0.0104%	1h	192.84	+1.207%	$45K	$861K	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	190.13	−0.213%	$247K	$893K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	190.07	−0.249%	$55K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	190.16	−0.200%	$199.8M	$403.3M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	190.11	−0.226%	$15.4M	$28.5M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	190.11	−0.226%	$45.4M	$72.8M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	190.11	−0.226%	$25.6M	$19.4M	75x	as long as short
Bitget SKHYUSDT	0.0000%	8h	190.26	−0.147%	$24.4M	$28.3M	20x	as long as short
Variational Omni SKHY	0.0000%	8h	190.47	−0.036%	$1.6M	$1.1M	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT SKHY_USDT_Perp	0.0000%	8h	190.68	+0.072%	$22K	$211K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	190.46	−0.042%	$697	$6.2M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	190.08	−0.241%	$159K	$369K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	190.15	−0.205%	$1.5M	$1.1M	10x	as long as short
tradeXYZ xyz:SKHY	+0.0006%	1h	190.08	−0.241%	$158.9M	$69.1M	10x	as long as short
QFEX SKHY-USD	+0.0011%	1h	190.16	−0.199%	$1.2M	$4.0M	10x	as long as short
Lighter SKHY	+0.0032%	1h	190.01	−0.278%	$1.0M	$691K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	190.00	−0.283%	$1.1M	$1.4M	10x	as long as short
Arcus SKHY-USDlong	+0.0040%	1h	190.54	long leg	$59K	$164K	10x
Vest SKHY-USD-PERP	+0.0046%	1h	190.23	−0.163%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	190.18	−0.189%	$200K	$257K	20x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	190.09	−0.236%	$183K	$470K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	190.13	−0.215%	$42K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	190.43	−0.058%	$563K	$2.6M	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	+0.0066%	1h	190.18	−0.189%	$48K	$326K	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	190.17	−0.194%	$1.1M	$320K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	190.13	−0.215%	$2K	$4K	10x	as long as short
Nado SKHY-PERP	+0.0107%	1h	190.21	−0.174%	$34K	$28K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	190.36	−0.094%	$2.2M	$435K	50x	as long as short
Phoenix SKHY	+0.0375%	1h	190.77	+0.121%	$214K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0689%	1h	190.21	−0.172%	$48K	$19K	20x	as long as short