Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0049%/8h= +5.4% APRpaid last 24h +0.001%

Price spread now: Gate against QFEX−0.064%7-day average +0.008% · 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−$48as in the Price arb table

costs, in and out, $10k−$410.406% of the position

Long on QFEX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.005%+$1 on $10k

Price spread, last 7 days+0.051%+$5 · spread now −0.064%, 7d avg +0.008%

Together, before fees+0.056%+$6 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 0.072% cheaper against QFEX than usual: you would sell low and buy high (spread −0.064% now, against its 7-day average of +0.008%). If the spread goes back, that is −$7 on $10k: about 4.9 days of funding at the current rate (+$1 a day). At the pace of the last 4 days (+0.005% in total) that is about 50 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX SKHY-USD	186.72	−0.0049	get 0.0006% / 1h	40m 18s	$1.2M	$4.1M	10x
Short	Gate SKHY_USDT	186.60	0	get 0.0000% / 8h	1h 40m	$25.5M	$20.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against QFEX. 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 QFEXbpFee GatebpOrdersPrice spread, now −0.064%Rate

Funding earned: $10.26
Price spread: −0.064% → +0.008%: −$7.24
Slippage, 4 orders: −$15.64
Fee QFEX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$37.61
Costs to cover: 0.406%
Break-even: 32.6 days

Slippage from QFEX: live order book, 3 min ago; Gate: 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 QFEX live order book, 3 min ago	2.14 bp	7.1 bp −$7	8.5 bp −$85	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	1.61 bp	13.9 bp −$14	33.7 bp −$337	52.5 bp −$5,247	83.9 bp −$41.9K

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	−0.1148%	8h	186.78	+0.032%	$25.0M	$31.7M	20x	as long as short
Deribit SKHY_USDC-PERPETUAL	−0.0393%	1h	186.65	−0.037%	$49K	$341K	10x	as long as short
edgeX SKHYUSDC	−0.0246%	4h	187.00	+0.149%	$564K	$292K	10x	as long as short
Nado SKHY-PERP	−0.0186%	1h	186.93	+0.113%	$33K	$28K	10x	as long as short
tradeXYZ xyz:SKHY	−0.0185%	1h	186.65	−0.037%	$158.4M	$74.3M	10x	as long as short
Polymarket Perps SKHY-USD	−0.0172%	1h	186.62	−0.054%	$180K	$487K	10x	as long as short
Popdex SKHYUSDT	−0.0160%	1h	186.73	+0.005%	$197K	$274K	20x	as long as short
Lighter SKHY	−0.0144%	1h	186.57	−0.080%	$962K	$1.1M	10x	as long as short
Kraken Futures PF_SKHYUSD	−0.0139%	1h	186.80	+0.044%	$47K	$19K	20x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0104%	1h	187.75	+0.552%	$63K	$902K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX SKHY-USDlong	−0.0049%	1h	186.72	long leg	$1.2M	$4.1M	10x
Ondo Perps SKHY-USD.P	−0.0033%	1h	186.48	−0.129%	$514K	$2.6M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	186.78	+0.033%	$226K	$916K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	186.57	−0.079%	$54K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	186.61	−0.058%	$199.3M	$438.1M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	186.63	−0.048%	$15.8M	$29.3M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	186.60	−0.064%	$44.6M	$77.4M	50x	as long as short
Gate SKHY_USDTshort	0.0000%	8h	186.60	−0.064%	$25.5M	$20.2M	75x
Variational Omni SKHY	0.0000%	8h	186.53	−0.100%	$1.6M	$1.0M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	186.65	−0.037%	$22K	$228K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	186.93	+0.112%	$684	$6.1M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	186.56	−0.086%	$155K	$367K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	186.60	−0.064%	$1.5M	$1.1M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	186.56	−0.086%	$1.1M	$1.6M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	186.72	0.000%	$58K	$165K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	186.77	+0.027%	—	$24K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	186.60	−0.064%	$41K	$13K	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	186.76	+0.021%	$1.1M	$328K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	186.62	−0.054%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	186.59	−0.070%	$2.2M	$419K	50x	as long as short
Phoenix SKHY	+0.0213%	1h	187.04	+0.171%	$210K	$115K	10x	as long as short