Funding you earn now, next payment 01:00 UTC+0.0331%/8h= +36.2% APRpaid last 24h +0.093%
Price spread now: Phoenix against Bybit−0.021%65s7-day average +0.140% · you buy dearer than you sell
Net, funding: paid 7d − costs−$11as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$390.390% of the position
Funding, last 7 days+0.284%+$28 on $10k
+Price spread, last 4 days (all we have)+2.210%+$221 · spread now −0.021%, 7d avg +0.140%
=Funding pays, the price is against you. Phoenix is 0.161% cheaper against Bybit than usual: you would sell low and buy high (spread −0.021% now, against its 7-day average of +0.140%). If the spread goes back, that is −$16 on $10k: about 39 hours of funding at the current rate (+$10 a day). At the pace of the last 7 days (+0.284% in total) that is about 4.0 days. The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit SKHYUSDT | 193.22 | 0 | get 0.0000% / 8h | 5h 54m | $15.7M | $27.3M | 100x |
| Short | Phoenix SKHY | 193.18 | 0.0331 | get 0.0041% / 1h | 54m 18s | $216K | $124K | 10x |
Bybit SKHYUSDT
Phoenix SKHYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Bybit. 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
- $69.48
- Price spread: −0.021% → +0.140%
- −$16.06
- Slippage, 4 orders
- −$20.97
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $14.45
- Costs to cover
- 0.390%
- Break-even
- 5.5 days
Slippage from Bybit: live order book, 4 min ago; Phoenix: 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 Bybit live order book, 4 min ago | 0.52 bp | 7.0 bp −$7 | 15.1 bp −$151 | 76.5 bp −$7,651 | doesn't fit |
| Sell Phoenix live order book, 3 min ago | 3.62 bp | 11.9 bp −$12 | 25.6 bp −$256 | doesn't fit | doesn't fit |
SKHY on 30 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 | −0.0410% | 4h | 193.08 | −0.072% | $582K | $289K | 10x | as long as short |
| Coinbase International SKHY-PERP-INTX | −0.0032% | 1h | 192.90 | −0.166% | $45K | $874K | 10x | as long as short |
| Aster SKHYUSDT | 0.0000% | 8h | 193.17 | −0.023% | $249K | $890K | 50x | as long as short |
| Extended SKHY-USD | 0.0000% | 1h | 193.13 | −0.048% | $56K | $7K | 10x | as long as short |
| Binance SKHYUSDT | 0.0000% | 8h | 193.18 | −0.023% | $208.9M | $385.3M | 50x | as long as short |
| Bybit SKHYUSDTlong | 0.0000% | 8h | 193.22 | long leg | $15.7M | $27.3M | 100x | |
| OKX SKHY-USDT-SWAP | 0.0000% | 8h | 193.17 | −0.026% | $46.9M | $69.3M | 50x | as long as short |
| Gate SKHY_USDT | 0.0000% | 8h | 193.13 | −0.047% | $25.8M | $18.8M | 75x | as long as short |
| Variational Omni SKHY | 0.0000% | 8h | 192.98 | −0.123% | $1.6M | $1.4M | — | as long as short |
| GRVT SKHY_USDT_Perp | 0.0000% | 8h | 193.12 | −0.052% | $23K | $194K | 10x | as long as short |
edgeX SKHYUSDC
Coinbase International SKHY-PERP-INTX
Aster SKHYUSDT
Extended SKHY-USD
Binance SKHYUSDT
OKX SKHY-USDT-SWAP
Gate SKHY_USDT
Variational Omni SKHY
GRVT SKHY_USDT_PerpShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX SKHY-USDT | 0.0000% | 8h | 193.46 | +0.124% | $708 | $6.4M | 10x | as long as short |
| Deribit SKHY_USDC-PERPETUAL | 0.0000% | 1h | 193.20 | −0.010% | $48K | $282K | 10x | as long as short |
| HTX SKHY-USDT | 0.0000% | 8h | 193.02 | −0.104% | $160K | $368K | 50x | as long as short |
| Phemex SKHYUSDT | 0.0000% | 8h | 193.09 | −0.067% | $1.5M | $1.1M | 10x | as long as short |
| QFEX SKHY-USD | +0.0004% | 1h | 193.15 | −0.036% | $1.2M | $4.3M | 10x | as long as short |
| Lighter SKHY | +0.0032% | 1h | 193.10 | −0.062% | $1.0M | $684K | 10x | as long as short |
| Lighter RH SKHY | +0.0032% | 1h | 193.10 | −0.062% | $1.1M | $1.5M | 10x | as long as short |
| Arcus SKHY-USD | +0.0040% | 1h | 193.00 | −0.114% | $57K | $154K | 10x | as long as short |
| Vest SKHY-USD-PERP | +0.0046% | 1h | 193.17 | −0.026% | — | $11K | 10x | as long as short |
| Popdex SKHYUSDT | +0.0048% | 1h | 193.17 | −0.026% | $198K | $255K | 20x | as long as short |
| tradeXYZ xyz:SKHY | +0.0050% | 1h | 193.11 | −0.057% | $162.3M | $66.3M | 10x | as long as short |
| Polymarket Perps SKHY-USD | +0.0050% | 1h | 193.10 | −0.062% | $189K | $456K | 10x | as long as short |
| SoDEX SKHY-USD | +0.0050% | 1h | 193.13 | −0.047% | $43K | $13K | 10x | as long as short |
| Ondo Perps SKHY-USD.P | +0.0050% | 1h | 193.00 | −0.114% | $569K | $2.1M | 10x | as long as short |
| KuCoin SKHYUSDTM | +0.0100% | 8h | 193.14 | −0.041% | $1.1M | $290K | 20x | as long as short |
| Orderly PERP_SKHY_USDC_mythos | +0.0100% | 8h | 193.18 | −0.021% | $2K | $4K | 10x | as long as short |
| Nado SKHY-PERP | +0.0125% | 1h | 193.20 | −0.012% | $38K | $26K | 10x | as long as short |
| Bitget SKHYUSDT | +0.0206% | 8h | 193.13 | −0.047% | $25.6M | $26.4M | 20x | as long as short |
| Phoenix SKHYshort | +0.0331% | 1h | 193.18 | −0.021% | $216K | $124K | 10x | |
| Kraken Futures PF_SKHYUSD | +0.0545% | 1h | 193.33 | +0.059% | $51K | $17K | 20x | as long as short |
SunX SKHY-USDT
Deribit SKHY_USDC-PERPETUAL
HTX SKHY-USDT
Phemex SKHYUSDT
QFEX SKHY-USD
Lighter SKHY
Lighter RH SKHY
Arcus SKHY-USD
Vest SKHY-USD-PERP
Popdex SKHYUSDT
tradeXYZ xyz:SKHY
Polymarket Perps SKHY-USD
SoDEX SKHY-USD
Ondo Perps SKHY-USD.P
KuCoin SKHYUSDTM
Orderly PERP_SKHY_USDC_mythos
Nado SKHY-PERP
Bitget SKHYUSDT
Kraken Futures PF_SKHYUSD