Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0129%/8h= +14.1% APRpaid last 24h +0.094%

Price spread now: Phoenix against Aster−0.072%55s7-day average +0.138% · you buy dearer than you sell

Net, funding: paid 7d − costs−$6as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$400.396% of the position

Long on Aster Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.341%+$34 on $10k

Price spread, last 4 days (all we have)+2.305%+$231 · spread now −0.072%, 7d avg +0.138%

Together, before fees+2.647%+ Points / potential airdropAster: Stage 5 · farm board+$265 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.210% cheaper against Aster than usual: you would sell low and buy high (spread −0.072% now, against its 7-day average of +0.138%). If the spread goes back, that is −$21 on $10k: about 5.4 days of funding at the current rate (+$4 a day). The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster SKHYUSDT	186.51	0	get 0.0000% / 8h	50m 26s	$224K	$925K	50x
Short	Phoenix SKHY	186.38	0.0129	get 0.0016% / 1h	50m 26s	$209K	$123K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Aster. 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 AsterbpFee PhoenixbpOrdersPrice spread, now −0.072%Rate

Funding earned: $27.05
Price spread: −0.072% → +0.138%: −$21
Slippage, 4 orders: −$24.64
Fee Aster: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$33.6
Costs to cover: 0.396%
Break-even: 15.7 days

Slippage from Aster: live order book, 52 min ago; Phoenix: live order book, 46 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 Aster live order book, 52 min ago	1.07 bp	7.2 bp −$7	22.6 bp −$226	doesn't fit	doesn't fit
Sell Phoenix live order book, 46 min ago	3.75 bp	12.7 bp −$13	27.5 bp −$275	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	−0.1377%	8h	186.61	+0.051%	$25.4M	$32.9M	20x	as long as short
edgeX SKHYUSDC	−0.0889%	4h	186.25	−0.144%	$561K	$290K	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	−0.0501%	1h	186.34	−0.093%	$49K	$346K	10x	as long as short
tradeXYZ xyz:SKHY	−0.0312%	1h	186.38	−0.072%	$158.4M	$76.9M	10x	as long as short
Popdex SKHYUSDT	−0.0312%	1h	186.39	−0.067%	$205K	$287K	20x	as long as short
Kraken Futures PF_SKHYUSD	−0.0266%	1h	186.44	−0.042%	$48K	$21K	20x	as long as short
Nado SKHY-PERP	−0.0233%	1h	186.51	0.000%	$33K	$28K	10x	as long as short
Polymarket Perps SKHY-USD	−0.0212%	1h	186.25	−0.142%	$180K	$487K	10x	as long as short
Lighter SKHY	−0.0104%	1h	186.34	−0.093%	$974K	$1.2M	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0072%	1h	187.58	+0.571%	$68K	$905K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX SKHY-USD	−0.0061%	1h	186.37	−0.077%	$1.2M	$4.3M	10x	as long as short
Ondo Perps SKHY-USD.P	−0.0044%	1h	186.24	−0.147%	$520K	$2.6M	10x	as long as short
KuCoin SKHYUSDTM	−0.0015%	8h	186.31	−0.109%	$1.1M	$326K	20x	as long as short
Aster SKHYUSDTlong	0.0000%	8h	186.51	long leg	$224K	$925K	50x
Extended SKHY-USD	0.0000%	1h	186.33	−0.099%	$54K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	186.39	−0.067%	$200.3M	$449.9M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	186.41	−0.056%	$16.7M	$29.6M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	186.40	−0.061%	$44.4M	$79.1M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	186.38	−0.072%	$25.5M	$20.9M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	186.25	−0.142%	$1.6M	$1.0M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	186.21	−0.165%	$22K	$232K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	186.58	+0.035%	$683	$6.1M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	186.28	−0.126%	$155K	$363K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	186.30	−0.115%	$1.5M	$1.1M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	186.33	−0.099%	$1.1M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	186.22	−0.158%	$60K	$171K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	186.40	−0.061%	—	$32K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	186.30	−0.115%	$41K	$12K	10x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	186.32	−0.104%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	186.32	−0.104%	$2.2M	$423K	50x	as long as short
Phoenix SKHYshort	+0.0129%	1h	186.38	−0.072%	$209K	$123K	10x