Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0297%/8h= +32.5% APRpaid last 24h +0.078%

Price spread now: Phoenix against Bitget+0.074%7-day average +0.141% · you sell dearer than you buy

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$410.413% of the position

Long on Bitget Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.261%+$26 on $10k

Price spread, last 3 days (all we have)+0.719%+$72 · spread now +0.074%, 7d avg +0.141%

Together, before fees+0.980%+$98 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.067% cheaper against Bitget than usual: you would sell low and buy high (spread +0.074% now, against its 7-day average of +0.141%). If the spread goes back, that is −$7 on $10k: about 18 hours of funding at the current rate (+$9 a day). At the pace of the last 7 days (+0.261% in total) that is about 43 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SKHYUSDT	188.38	0	get 0.0000% / 8h	2h 08m	$25.3M	$25.0M	20x
Short	Phoenix SKHY	188.52	0.0297	get 0.0037% / 1h	8m 56s	$213K	$128K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Bitget. 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 BitgetbpFee PhoenixbpOrdersPrice spread, now +0.074%Rate

Funding earned: $62.4
Price spread: +0.074% → +0.141%: −$6.67
Slippage, 4 orders: −$22.32
Fee Bitget: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $14.41
Costs to cover: 0.413%
Break-even: 5.4 days

Slippage from Bitget: live order book, 10 min ago; Phoenix: live order book, 8 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, 10 min ago	0.80 bp	11.2 bp −$11	17.5 bp −$175	27.7 bp −$2,767	43.0 bp −$21.5K
Sell Phoenix live order book, 8 min ago	2.65 bp	9.8 bp −$10	20.1 bp −$201	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	−0.0991%	4h	188.39	+0.008%	$568K	$289K	10x	as long as short
Nado SKHY-PERP	−0.0074%	1h	188.42	+0.024%	$28K	$2K	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	−0.0068%	1h	188.35	−0.016%	$45K	$225K	10x	as long as short
KuCoin SKHYUSDTM	−0.0061%	8h	188.37	−0.005%	$1.1M	$316K	20x	as long as short
tradeXYZ xyz:SKHY	−0.0017%	1h	188.34	−0.021%	$164.2M	$64.8M	10x	as long as short
QFEX SKHY-USD	−0.0003%	1h	188.41	+0.016%	$1.2M	$5.2M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	188.36	−0.011%	$249K	$901K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	188.34	−0.021%	$55K	$4K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	188.37	−0.008%	$210.9M	$378.8M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	188.36	−0.011%	$15.7M	$26.4M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX SKHY-USDT-SWAP	0.0000%	8h	188.35	−0.016%	$46.8M	$60.6M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	188.37	−0.005%	$26.0M	$17.9M	75x	as long as short
Bitget SKHYUSDTlong	0.0000%	8h	188.38	long leg	$25.3M	$25.0M	20x
Variational Omni SKHY	0.0000%	8h	188.39	+0.006%	$1.5M	$2.5M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	188.36	−0.010%	$22K	$221K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	188.66	+0.149%	$690	$7.4M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	188.33	−0.027%	$154K	$400K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	188.38	0.000%	$1.5M	$1.1M	10x	as long as short
Lighter SKHY	+0.0032%	1h	188.33	−0.027%	$1.0M	$714K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	188.29	−0.048%	$1.1M	$1.4M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	188.41	+0.016%	$55K	$157K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	188.39	+0.005%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	188.40	+0.011%	$202K	$241K	20x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	188.28	−0.053%	$186K	$923K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	188.37	−0.005%	$42K	$12K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	188.43	+0.027%	$523K	$909K	10x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	188.40	+0.011%	$2K	$5K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	188.35	−0.016%	$2.2M	$432K	50x	as long as short
Coinbase International SKHY-PERP-INTX	+0.0184%	1h	188.65	+0.143%	$168K	$677K	10x	as long as short
Phoenix SKHYshort	+0.0297%	1h	188.52	+0.074%	$213K	$128K	10x
Kraken Futures PF_SKHYUSD	+0.0615%	1h	188.54	+0.087%	$50K	$24K	20x	as long as short