Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0407%/8h= −44.6% APRpaid last 24h −0.179%

Price spread now: edgeX against Popdex−0.137%7-day average −0.004% · 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−$47as in the Price arb table

costs, in and out, $10k−$340.339% of the position

Long on Popdex Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.253%+$25 on $10k

Price spread, last 4 days (all we have)+0.231%+$23 · spread now −0.137%, 7d avg −0.004%

Together, before fees+0.484%+ Points / potential airdropedgeX: Active · farm board+$48 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and edgeX is 0.133% cheaper against Popdex than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.004%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +0.253%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex SKHYUSDT	187.78	0.0032	pay 0.0004% / 1h	9m 10s	$196K	$273K	20x
Short	edgeX SKHYUSDC	187.52	−0.0375	pay 0.0188% / 4h	2h 09m	$565K	$290K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Popdex. 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 PopdexbpFee edgeXbpOrdersPrice spread, now −0.137%Rate

Funding earned: −$85.53
Price spread: −0.137% → −0.004%: −$13.32
Slippage, 4 orders: −$18.54
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$132.78
Costs to cover: 0.339%
Break-even: never at this rate

Slippage from Popdex: live order book, 40 min ago; edgeX: live order book, 40 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 Popdex live order book, 40 min ago	2.38 bp	6.1 bp −$6	9.6 bp −$96	doesn't fit	doesn't fit
Sell edgeX live order book, 40 min ago	5.56 bp	10.6 bp −$11	16.1 bp −$161	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	−0.1201%	8h	187.85	+0.037%	$25.1M	$31.3M	20x	as long as short
edgeX SKHYUSDCshort	−0.0375%	4h	187.52	−0.137%	$565K	$290K	10x
Deribit SKHY_USDC-PERPETUAL	−0.0229%	1h	187.76	−0.011%	$48K	$336K	10x	as long as short
Nado SKHY-PERP	−0.0146%	1h	187.92	+0.076%	$33K	$28K	10x	as long as short
tradeXYZ xyz:SKHY	−0.0120%	1h	187.72	−0.032%	$159.3M	$74.1M	10x	as long as short
Polymarket Perps SKHY-USD	−0.0093%	1h	187.70	−0.043%	$181K	$487K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0024%	1h	187.32	−0.245%	$61K	$897K	10x	as long as short
QFEX SKHY-USD	−0.0014%	1h	187.78	0.000%	$1.2M	$4.1M	10x	as long as short
Ondo Perps SKHY-USD.P	−0.0010%	1h	187.65	−0.069%	$516K	$2.6M	10x	as long as short
Lighter SKHY	−0.0008%	1h	187.72	−0.032%	$930K	$1.1M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster SKHYUSDT	0.0000%	8h	187.84	+0.031%	$229K	$916K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	187.70	−0.043%	$55K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	187.76	−0.009%	$201.4M	$433.8M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	187.79	+0.005%	$15.9M	$30.2M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	187.73	−0.027%	$44.7M	$77.4M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	187.71	−0.037%	$25.3M	$20.8M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	187.51	−0.143%	$1.6M	$1.0M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	187.67	−0.061%	$22K	$223K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	187.95	+0.091%	$688	$6.2M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	187.61	−0.091%	$156K	$371K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	187.73	−0.027%	$1.5M	$1.1M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	187.69	−0.048%	$1.1M	$1.6M	10x	as long as short
Popdex SKHYUSDTlong	+0.0032%	1h	187.78	long leg	$196K	$273K	20x
Arcus SKHY-USD	+0.0040%	1h	187.41	−0.197%	$58K	$164K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	187.83	+0.027%	—	$12K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	187.68	−0.053%	$41K	$13K	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	187.75	−0.016%	$1.1M	$322K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	187.78	0.000%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	187.68	−0.053%	$2.1M	$416K	50x	as long as short
Phoenix SKHY	+0.0254%	1h	188.02	+0.128%	$211K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0261%	1h	187.80	+0.013%	$47K	$19K	20x	as long as short