Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0839%/8h= +91.9% APRpaid last 24h +0.105%

Price spread now: Phemex against edgeX+0.092%78s7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$172as 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−$1141.136% of the position

Long on edgeX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.587%−$59 on $10k

Price spread, last 4 days (all we have)−0.155%−$15 · spread now +0.092%, 7d avg +0.013%

Together, before fees−0.742%+ Points / potential airdropedgeX: Active · farm board−$74 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$25 a day on $10k at the current rate, and Phemex is 0.078% dearer against edgeX than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.013%. Mind the row above: over the last 7 days funding on this pair cost −0.587%, so the current rate has only just turned in your favour. The two prices were read 78 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 7 days it paid -0.587% in total (about -30.6% 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	edgeX SKHYUSDC	192.88	−0.0839	get 0.0420% / 4h	9m 42s	$581K	$292K	10x
Short	Phemex SKHYUSDT	193.06	0	get 0.0000% / 8h	4h 09m	$1.5M	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against edgeX. 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 edgeXbpFee PhemexbpOrdersPrice spread, now +0.092%Rate

Funding earned: $176.25
Price spread: +0.092% → +0.013%: $7.84
Slippage, 4 orders: −$92.58
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Phemex: 6 bp × 2 orders: −$12
Net: $70.52
Costs to cover: 1.136%
Break-even: 4.2 days

Slippage from edgeX: live order book, 49 min ago; Phemex: 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 edgeX live order book, 49 min ago	1.29 bp	6.2 bp −$6	11.8 bp −$118	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	2.59 bp	43.3 bp −$43	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
edgeX SKHYUSDClong	−0.0839%	4h	192.88	long leg	$581K	$292K	10x
Coinbase International SKHY-PERP-INTX	−0.0048%	1h	192.84	−0.022%	$45K	$861K	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	193.03	+0.076%	$249K	$889K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	192.98	+0.050%	$56K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	192.99	+0.055%	$203.7M	$394.3M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	192.98	+0.050%	$15.7M	$27.7M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	193.03	+0.076%	$46.8M	$70.1M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	192.99	+0.056%	$25.8M	$19.0M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	192.95	+0.034%	$1.6M	$1.1M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	192.92	+0.019%	$23K	$205K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX SKHY-USDT	0.0000%	8h	193.32	+0.227%	$708	$6.2M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	192.99	+0.056%	$161K	$369K	50x	as long as short
Phemex SKHYUSDTshort	0.0000%	8h	193.06	+0.092%	$1.5M	$1.1M	10x
QFEX SKHY-USD	+0.0015%	1h	192.98	+0.050%	$1.2M	$3.9M	10x	as long as short
Lighter SKHY	+0.0032%	1h	192.90	+0.009%	$1.0M	$698K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	192.90	+0.009%	$1.1M	$1.6M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	193.04	+0.081%	$60K	$161K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	192.98	+0.050%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	193.07	+0.097%	$202K	$256K	20x	as long as short
tradeXYZ xyz:SKHY	+0.0050%	1h	192.91	+0.014%	$161.3M	$67.8M	10x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	192.96	+0.040%	$189K	$456K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	192.98	+0.050%	$43K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	192.90	+0.009%	$577K	$2.4M	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	+0.0061%	1h	193.07	+0.097%	$49K	$322K	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	192.99	+0.056%	$1.1M	$316K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	193.05	+0.087%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	193.06	+0.092%	$2.3M	$438K	50x	as long as short
Bitget SKHYUSDT	+0.0132%	8h	193.09	+0.107%	$25.2M	$26.9M	20x	as long as short
Nado SKHY-PERP	+0.0149%	1h	193.03	+0.076%	$38K	$26K	10x	as long as short
Phoenix SKHY	+0.0372%	1h	193.21	+0.170%	$216K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.1058%	1h	193.08	+0.104%	$49K	$19K	20x	as long as short