Funding you earn now, next payment 16:00 UTC+0.0343%/8h= +37.6% APRnext payment +$3.43 per $10,000 · paid last 24h +0.125%
Price spread now: Phemex against Bitget−0.069%7-day average −0.009% · you buy dearer than you sell
Net, funding: paid 7d − costs−$113as in the Funding arb table
Net, price: spread back to 7d avg − costs−$128as in the Price arb table
costs, in and out, $10k−$1221.219% of the position
Funding, last 7 days+0.085%+$8 on $10k
+Price spread, last 4 days (all we have)+0.021%+$2 · spread now −0.069%, 7d avg −0.009%
=Funding pays, the price is against you. Phemex is 0.060% cheaper against Bitget than usual: you would sell low and buy high (spread −0.069% now, against its 7-day average of −0.009%). If the spread goes back, that is −$6 on $10k: about 14 hours of funding at the current rate (+$10 a day). At the pace of the last 7 days (+0.085% in total) that is about 5.0 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.085% in total (about 4.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.43 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bitget SKHYUSDT | 188.11 | −0.0343 | get 0.0343% / 8h | 5h 08m | $26.2M | $36.6M | 20x |
| Short | Phemex SKHYUSDT | 187.98 | 0 | get 0.0000% / 8h | 5h 08m | $1.5M | $1.1M | 10x |
Bitget SKHYUSDT
Phemex SKHYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Bitget. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $72.03
- Price spread: −0.069% → −0.009%
- −$6.01
- Slippage, 4 orders
- −$97.93
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$55.92
- Costs to cover
- 1.219%
- Break-even
- 12.4 days
Slippage from Bitget: live order book, 4 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 Bitget live order book, 4 min ago | 0.53 bp | 9.5 bp −$10 | 14.8 bp −$148 | 20.8 bp −$2,079 | 45.5 bp −$22.7K |
| Sell Phemex live order book, 3 min ago | 3.72 bp | 55.3 bp −$55 | doesn't fit | doesn't fit | doesn't fit |
SKHY on 31 exchanges
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 | −0.0820% | 4h | 187.84 | −0.141% | $566K | $285K | 10x | as long as short |
| Deribit SKHY_USDC-PERPETUAL | −0.0441% | 1h | 187.96 | −0.080% | $49K | $493K | 10x | as long as short |
| Bitget SKHYUSDTlong | −0.0343% | 8h | 188.11 | long leg | $26.2M | $36.6M | 20x | |
| Kraken Futures PF_SKHYUSD | −0.0267% | 1h | 187.69 | −0.222% | $51K | $36K | 20x | as long as short |
| KuCoin SKHYUSDTM | −0.0179% | 8h | 187.92 | −0.101% | $1.1M | $503K | 20x | as long as short |
| Nado SKHY-PERP | −0.0090% | 1h | 188.16 | +0.025% | $33K | $28K | 10x | as long as short |
| Coinbase International SKHY-PERP-INTX | −0.0040% | 1h | 187.65 | −0.245% | $110K | $744K | 10x | as long as short |
| tradeXYZ xyz:SKHY | −0.0039% | 1h | 187.97 | −0.074% | $158.7M | $77.4M | 10x | as long as short |
| QFEX SKHY-USD | −0.0013% | 1h | 188.00 | −0.058% | $1.2M | $4.2M | 10x | as long as short |
| Aster SKHYUSDT | 0.0000% | 8h | 187.99 | −0.063% | $261K | $916K | 50x | as long as short |
edgeX SKHYUSDC
Deribit SKHY_USDC-PERPETUAL
Kraken Futures PF_SKHYUSD
KuCoin SKHYUSDTM
Nado SKHY-PERP
Coinbase International SKHY-PERP-INTX
tradeXYZ xyz:SKHY
QFEX SKHY-USD
Aster SKHYUSDTShow all 31 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended SKHY-USD | 0.0000% | 1h | 187.94 | −0.089% | $55K | $7K | 10x | as long as short |
| Binance SKHYUSDT | 0.0000% | 8h | 188.00 | −0.058% | $197.9M | $472.7M | 50x | as long as short |
| Bybit SKHYUSDT | 0.0000% | 8h | 188.00 | −0.058% | $16.4M | $34.0M | 100x | as long as short |
| OKX SKHY-USDT-SWAP | 0.0000% | 8h | 187.96 | −0.080% | $44.6M | $85.7M | 50x | as long as short |
| Gate SKHY_USDT | 0.0000% | 8h | 187.95 | −0.085% | $25.4M | $22.0M | 75x | as long as short |
| Variational Omni SKHY | 0.0000% | 8h | 187.83 | −0.150% | $1.5M | $1.0M | — | as long as short |
| GRVT SKHY_USDT_Perp | 0.0000% | 8h | 187.88 | −0.122% | $22K | $254K | 10x | as long as short |
| SunX SKHY-USDT | 0.0000% | 8h | 188.32 | +0.112% | $689 | $5.4M | 10x | as long as short |
| HTX SKHY-USDT | 0.0000% | 8h | 187.94 | −0.090% | $154K | $380K | 50x | as long as short |
| Phemex SKHYUSDTshort | 0.0000% | 8h | 187.98 | −0.069% | $1.5M | $1.1M | 10x | |
| Lighter SKHY | +0.0016% | 1h | 187.95 | −0.085% | $985K | $1.4M | 10x | as long as short |
| Lighter RH SKHY | +0.0032% | 1h | 187.94 | −0.090% | $1.1M | $1.5M | 10x | as long as short |
| Arcus SKHY-USD | +0.0040% | 1h | 187.98 | −0.069% | $60K | $131K | 10x | as long as short |
| Vest SKHY-USD-PERP | +0.0046% | 1h | 188.07 | −0.021% | — | $39K | 10x | as long as short |
| Popdex SKHYUSDT | +0.0048% | 1h | 188.02 | −0.048% | $201K | $310K | 20x | as long as short |
| Polymarket Perps SKHY-USD | +0.0050% | 1h | 187.97 | −0.074% | $182K | $352K | 10x | as long as short |
| SoDEX SKHY-USD | +0.0050% | 1h | 187.97 | −0.074% | $42K | $12K | 10x | as long as short |
| Ondo Perps SKHY-USD.P | +0.0050% | 1h | 187.95 | −0.085% | $523K | $2.5M | 10x | as long as short |
| Orderly PERP_SKHY_USDC_mythos | +0.0100% | 8h | 188.02 | −0.048% | $2K | $4K | 10x | as long as short |
| BloFin SKHY-USDT | +0.0120% | 8h | 188.00 | −0.058% | $2.2M | $487K | 50x | as long as short |
| Phoenix SKHY | +0.0255% | 1h | 188.11 | 0.000% | $211K | $123K | 10x | as long as short |
Extended SKHY-USD
Binance SKHYUSDT
Bybit SKHYUSDT
OKX SKHY-USDT-SWAP
Gate SKHY_USDT
Variational Omni SKHY
GRVT SKHY_USDT_Perp
SunX SKHY-USDT
HTX SKHY-USDT
Lighter SKHY
Lighter RH SKHY
Arcus SKHY-USD
Vest SKHY-USD-PERP
Popdex SKHYUSDT
Polymarket Perps SKHY-USD
SoDEX SKHY-USD
Ondo Perps SKHY-USD.P
Orderly PERP_SKHY_USDC_mythos
BloFin SKHY-USDT
Phoenix SKHY