Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0048%/8h= +5.3% APRpaid last 24h +0.014%

Price spread now: Popdex against OKX−0.016%7-day average +0.013% · 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−$26as in the Price arb table

costs, in and out, $10k−$230.228% of the position

Long on OKX Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.016%+$2 on $10k

Price spread, last 4 days (all we have)+0.091%+$9 · spread now −0.016%, 7d avg +0.013%

Together, before fees+0.107%+$11 on $10k · with fees, hour by hour

Funding pays, the price is against you. Popdex is 0.029% cheaper against OKX than usual: you would sell low and buy high (spread −0.016% now, against its 7-day average of +0.013%). If the spread goes back, that is −$3 on $10k: about 2.0 days of funding at the current rate (+$1 a day). At the pace of the last 4 days (+0.016% in total) that is about 6.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SKHY-USDT-SWAP	192.73	0	get 0.0000% / 8h	5h 25m	$46.7M	$69.3M	50x
Short	Popdex SKHYUSDT	192.70	0.0048	get 0.0006% / 1h	25m 39s	$199K	$256K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against OKX. 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 OKXbpFee PopdexbpOrdersPrice spread, now −0.016%Rate

Funding earned: $10.08
Price spread: −0.016% → +0.013%: −$2.9
Slippage, 4 orders: −$6.43
Fee OKX: 5 bp × 2 orders: −$10
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$15.65
Costs to cover: 0.228%
Break-even: 17.9 days

Slippage from OKX: live order book, 3 min ago; Popdex: live order book, 38 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 OKX live order book, 3 min ago	0.26 bp	6.9 bp −$7	8.5 bp −$85	23.8 bp −$2,378	doesn't fit
Sell Popdex live order book, 38 min ago	1.04 bp	6.1 bp −$6	10.0 bp −$100	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	−0.0139%	4h	192.84	+0.056%	$581K	$289K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0032%	1h	192.90	+0.088%	$45K	$874K	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	192.74	+0.007%	$248K	$890K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	192.68	−0.025%	$56K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	192.74	+0.004%	$206.5M	$389.8M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	192.72	−0.005%	$15.7M	$27.3M	100x	as long as short
OKX SKHY-USDT-SWAPlong	0.0000%	8h	192.73	long leg	$46.7M	$69.3M	50x
Gate SKHY_USDT	0.0000%	8h	192.67	−0.031%	$25.8M	$19.0M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	192.70	−0.018%	$1.6M	$1.2M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	192.82	+0.047%	$23K	$195K	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	192.99	+0.135%	$707	$6.4M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	192.66	−0.036%	$160K	$368K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	192.74	+0.005%	$1.5M	$1.1M	10x	as long as short
QFEX SKHY-USD	+0.0004%	1h	192.67	−0.031%	$1.2M	$4.3M	10x	as long as short
Lighter SKHY	+0.0032%	1h	192.59	−0.073%	$1.0M	$688K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	192.61	−0.062%	$1.1M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	192.70	−0.016%	$57K	$154K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	192.65	−0.042%	—	$11K	10x	as long as short
Popdex SKHYUSDTshort	+0.0048%	1h	192.70	−0.016%	$199K	$256K	20x
tradeXYZ xyz:SKHY	+0.0050%	1h	192.63	−0.052%	$161.2M	$67.2M	10x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	192.63	−0.052%	$188K	$456K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	192.69	−0.021%	$43K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	192.65	−0.042%	$584K	$2.2M	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	192.73	0.000%	$1.1M	$290K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	192.73	0.000%	$2K	$4K	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	+0.0113%	1h	192.74	+0.005%	$49K	$295K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	192.65	−0.042%	$2.2M	$445K	50x	as long as short
Bitget SKHYUSDT	+0.0135%	8h	192.79	+0.031%	$25.4M	$26.7M	20x	as long as short
Nado SKHY-PERP	+0.0168%	1h	192.64	−0.046%	$38K	$26K	10x	as long as short
Phoenix SKHY	+0.0332%	1h	192.88	+0.078%	$216K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0546%	1h	192.83	+0.051%	$51K	$17K	20x	as long as short