Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0048%/8h= +5.3% APRpaid last 24h +0.014%

Price spread now: Popdex against Binance+0.096%51s7-day average −0.002% · 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−$190.190% of the position

Long on Binance Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.024%+$2 on $10k

Price spread, last 4 days (all we have)−0.031%−$3 · spread now +0.096%, 7d avg −0.002%

Together, before fees−0.008%−$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Popdex is 0.098% dearer against Binance than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.002%. The two prices were read 51 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	Binance SKHYUSDT	190.00	0	get 0.0000% / 8h	3h 39m	$199.7M	$403.5M	50x
Short	Popdex SKHYUSDT	190.18	0.0048	get 0.0006% / 1h	39m 44s	$200K	$257K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against Binance. 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 BinancebpFee PopdexbpOrdersPrice spread, now +0.096%Rate

Funding earned: $10.08
Price spread: +0.096% → −0.002%: $9.79
Slippage, 4 orders: −$2.59
Fee Binance: 5 bp × 2 orders: −$10
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: $0.88
Costs to cover: 0.190%
Break-even: 6.4 days

Slippage from Binance: live order book, 4 min ago; Popdex: 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 Binance live order book, 4 min ago	0.26 bp	5.3 bp −$5	7.5 bp −$75	17.6 bp −$1,758	63.0 bp −$31.5K
Sell Popdex live order book, 14 min ago	0.78 bp	4.0 bp −$4	6.1 bp −$61	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 SKHYUSDC	−0.0981%	4h	190.66	+0.350%	$575K	$290K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0104%	1h	192.84	+1.496%	$45K	$861K	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	190.14	+0.077%	$247K	$893K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	190.07	+0.036%	$55K	$7K	10x	as long as short
Binance SKHYUSDTlong	0.0000%	8h	190.00	long leg	$199.7M	$403.5M	50x
Bybit SKHYUSDT	0.0000%	8h	189.99	−0.004%	$15.4M	$28.5M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	189.98	−0.009%	$45.4M	$72.8M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	189.99	−0.004%	$25.6M	$19.4M	75x	as long as short
Bitget SKHYUSDT	0.0000%	8h	190.22	+0.117%	$24.4M	$28.3M	20x	as long as short
Variational Omni SKHY	0.0000%	8h	190.47	+0.250%	$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	+0.358%	$22K	$211K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	190.46	+0.243%	$697	$6.2M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	190.08	+0.043%	$159K	$369K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	190.15	+0.080%	$1.5M	$1.1M	10x	as long as short
tradeXYZ xyz:SKHY	+0.0004%	1h	189.95	−0.025%	$158.8M	$69.0M	10x	as long as short
QFEX SKHY-USD	+0.0011%	1h	190.16	+0.086%	$1.2M	$4.0M	10x	as long as short
Lighter SKHY	+0.0032%	1h	189.84	−0.083%	$1.0M	$691K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	189.93	−0.036%	$1.1M	$1.4M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	190.54	+0.286%	$59K	$164K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	190.23	+0.122%	—	$12K	10x	as long as short
Popdex SKHYUSDTshort	+0.0048%	1h	190.18	+0.096%	$200K	$257K	20x
Polymarket Perps SKHY-USD	+0.0050%	1h	190.09	+0.049%	$183K	$470K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	190.13	+0.070%	$42K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	190.43	+0.228%	$563K	$2.6M	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	+0.0066%	1h	190.18	+0.096%	$48K	$326K	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	190.17	+0.091%	$1.1M	$320K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	190.13	+0.070%	$2K	$4K	10x	as long as short
Nado SKHY-PERP	+0.0107%	1h	190.21	+0.111%	$34K	$28K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	190.36	+0.191%	$2.2M	$435K	50x	as long as short
Phoenix SKHY	+0.0375%	1h	190.77	+0.407%	$214K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0689%	1h	190.21	+0.113%	$48K	$19K	20x	as long as short