Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.012%

Price spread now: Arcus against Phemex+0.036%7-day average −0.031% · 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−$112as in the Price arb table

costs, in and out, $10k−$1191.189% of the position

Long on Phemex Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.069%+$7 on $10k

Price spread, last 3 days (all we have)+0.013%+$1 · spread now +0.036%, 7d avg −0.031%

Together, before fees+0.082%+$8 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 Arcus is 0.067% dearer against Phemex than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SKHYUSDT	192.97	0	get 0.0000% / 8h	7h 45m	$1.5M	$1.1M	10x
Short	Arcus SKHY-USD	193.04	0.0040	get 0.0005% / 1h	45m 14s	$57K	$155K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Phemex. 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 PhemexbpFee ArcusbpOrdersPrice spread, now +0.036%Rate

Funding earned: $8.46
Price spread: +0.036% → −0.031%: $6.73
Slippage, 4 orders: −$102.39
Fee Phemex: 6 bp × 2 orders: −$12
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$103.7
Costs to cover: 1.189%
Break-even: 92.8 days

Slippage from Phemex: live order book, 3 min ago; Arcus: live order book, 28 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 Phemex live order book, 3 min ago	2.33 bp	60.0 bp −$60	doesn't fit	doesn't fit	doesn't fit
Sell Arcus live order book, 28 min ago	2.64 bp	12.5 bp −$12	36.4 bp −$364	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	−0.0833%	4h	192.72	−0.128%	$581K	$290K	10x	as long as short
Nado SKHY-PERP	−0.0051%	1h	193.05	+0.041%	$29K	$2K	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	192.82	−0.078%	$256K	$921K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	193.04	+0.037%	$56K	$6K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	193.11	+0.072%	$213.6M	$384.7M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	193.14	+0.088%	$15.8M	$27.5M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	193.13	+0.083%	$47.1M	$66.7M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	193.00	+0.016%	$26.4M	$17.5M	75x	as long as short
Bitget SKHYUSDT	0.0000%	8h	193.04	+0.036%	$25.8M	$26.6M	20x	as long as short
Variational Omni SKHY	0.0000%	8h	193.22	+0.127%	$1.6M	$2.3M	—	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	193.36	+0.202%	$708	$7.0M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	193.00	+0.016%	$160K	$395K	50x	as long as short
Phemex SKHYUSDTlong	0.0000%	8h	192.97	long leg	$1.5M	$1.1M	10x
QFEX SKHY-USD	+0.0005%	1h	192.99	+0.010%	$1.2M	$5.3M	10x	as long as short
Lighter SKHY	+0.0032%	1h	192.98	+0.005%	$1.0M	$620K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	193.00	+0.016%	$1.1M	$1.5M	10x	as long as short
Arcus SKHY-USDshort	+0.0040%	1h	193.04	+0.036%	$57K	$155K	10x
Vest SKHY-USD-PERP	+0.0046%	1h	193.10	+0.067%	—	$13K	10x	as long as short
KuCoin SKHYUSDTM	+0.0047%	8h	192.91	−0.031%	$1.1M	$276K	20x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	193.07	+0.052%	$197K	$256K	20x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	193.16	+0.098%	$611K	$1.6M	10x	as long as short
Coinbase International SKHY-PERP-INTX	+0.0088%	1h	190.51	−1.275%	$171K	$680K	10x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	193.07	+0.052%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	193.13	+0.083%	$2.2M	$429K	50x	as long as short
GRVT SKHY_USDT_Perp	+0.0282%	8h	192.80	−0.089%	$23K	$202K	10x	as long as short
Phoenix SKHY	+0.0335%	1h	193.28	+0.161%	$218K	$120K	10x	as long as short
Polymarket Perps SKHY-USD	+0.0351%	1h	193.03	+0.031%	$194K	$425K	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	+0.0372%	1h	193.11	+0.073%	$46K	$260K	10x	as long as short
tradeXYZ xyz:SKHY	+0.0456%	1h	192.99	+0.010%	$166.8M	$65.2M	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0709%	1h	193.07	+0.051%	$51K	$25K	20x	as long as short
SoDEX SKHY-USD	+0.1065%	1h	193.07	+0.052%	$43K	$13K	10x	as long as short