Funding you earn now, next payment 01:00 UTC+0.0403%/8h= +44.1% APRnext payment +$0.50 per $10,000 · paid last 24h +0.078%
Price spread now: Phoenix against Coinbase International+0.124%7-day average +0.004% · you sell dearer than you buy
Net, funding: paid 7d − costs−$8as in the Funding arb table
Net, price: spread back to 7d avg − costs−$36as in the Price arb table
costs, in and out, $10k−$480.478% of the position
Funding, last 7 days+0.397%+$40 on $10k
+Price spread, last 3 days (all we have)+0.024%+$2 · spread now +0.124%, 7d avg +0.004%
=Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Phoenix is 0.120% dearer against Coinbase International than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.004%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International SKHY-PERP-INTX | 192.90 | −0.0072 | get 0.0009% / 1h | 40m 52s | $45K | $874K | 10x |
| Short | Phoenix SKHY | 193.14 | 0.0331 | get 0.0041% / 1h | 40m 52s | $216K | $123K | 10x |
Coinbase International SKHY-PERP-INTX
Phoenix SKHYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Coinbase International. 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
- $84.6
- Price spread: +0.124% → +0.004%
- $12
- Slippage, 4 orders
- −$30.77
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $48.83
- Costs to cover
- 0.478%
- Break-even
- 3.0 days
Slippage from Coinbase International: live order book, 27 min ago; Phoenix: live order book, 21 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 Coinbase International live order book, 27 min ago | 7.24 bp | 13.7 bp −$14 | 20.9 bp −$209 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 21 min ago | 3.10 bp | 10.9 bp −$11 | 22.9 bp −$229 | 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 | −0.0332% | 4h | 192.69 | −0.109% | $581K | $289K | 10x | as long as short |
| Coinbase International SKHY-PERP-INTXlong | −0.0072% | 1h | 192.90 | long leg | $45K | $874K | 10x | |
| Aster SKHYUSDT | 0.0000% | 8h | 192.92 | +0.011% | $248K | $890K | 50x | as long as short |
| Extended SKHY-USD | 0.0000% | 1h | 192.87 | −0.014% | $56K | $7K | 10x | as long as short |
| Binance SKHYUSDT | 0.0000% | 8h | 192.80 | −0.053% | $210.4M | $385.1M | 50x | as long as short |
| Bybit SKHYUSDT | 0.0000% | 8h | 192.82 | −0.041% | $15.6M | $27.2M | 100x | as long as short |
| OKX SKHY-USDT-SWAP | 0.0000% | 8h | 192.94 | +0.021% | $46.8M | $69.0M | 50x | as long as short |
| Gate SKHY_USDT | 0.0000% | 8h | 192.80 | −0.052% | $25.8M | $18.8M | 75x | as long as short |
| Variational Omni SKHY | 0.0000% | 8h | 192.94 | +0.018% | $1.6M | $2.2M | — | as long as short |
| GRVT SKHY_USDT_Perp | 0.0000% | 8h | 192.90 | +0.001% | $22K | $191K | 10x | as long as short |
edgeX SKHYUSDC
Aster SKHYUSDT
Extended SKHY-USD
Binance SKHYUSDT
Bybit SKHYUSDT
OKX SKHY-USDT-SWAP
Gate SKHY_USDT
Variational Omni SKHY
GRVT SKHY_USDT_PerpShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX SKHY-USDT | 0.0000% | 8h | 193.24 | +0.176% | $707 | $6.6M | 10x | as long as short |
| Deribit SKHY_USDC-PERPETUAL | 0.0000% | 1h | 192.93 | +0.016% | $48K | $270K | 10x | as long as short |
| HTX SKHY-USDT | 0.0000% | 8h | 192.90 | 0.000% | $160K | $376K | 50x | as long as short |
| Phemex SKHYUSDT | 0.0000% | 8h | 192.96 | +0.031% | $1.5M | $1.1M | 10x | as long as short |
| QFEX SKHY-USD | +0.0002% | 1h | 192.94 | +0.021% | $1.2M | $4.7M | 10x | as long as short |
| Nado SKHY-PERP | +0.0015% | 1h | 192.98 | +0.040% | $42K | $21K | 10x | as long as short |
| Lighter SKHY | +0.0032% | 1h | 192.79 | −0.057% | $1.0M | $680K | 10x | as long as short |
| Lighter RH SKHY | +0.0032% | 1h | 192.81 | −0.047% | $1.1M | $1.5M | 10x | as long as short |
| Arcus SKHY-USD | +0.0040% | 1h | 192.86 | −0.021% | $57K | $154K | 10x | as long as short |
| Vest SKHY-USD-PERP | +0.0046% | 1h | 192.90 | 0.000% | — | $12K | 10x | as long as short |
| Popdex SKHYUSDT | +0.0048% | 1h | 193.01 | +0.057% | $197K | $256K | 20x | as long as short |
| tradeXYZ xyz:SKHY | +0.0050% | 1h | 192.86 | −0.021% | $163.0M | $66.7M | 10x | as long as short |
| Polymarket Perps SKHY-USD | +0.0050% | 1h | 192.89 | −0.005% | $189K | $456K | 10x | as long as short |
| SoDEX SKHY-USD | +0.0050% | 1h | 192.86 | −0.021% | $43K | $13K | 10x | as long as short |
| Ondo Perps SKHY-USD.P | +0.0050% | 1h | 192.91 | +0.005% | $533K | $1.8M | 10x | as long as short |
| KuCoin SKHYUSDTM | +0.0100% | 8h | 192.91 | +0.005% | $1.1M | $279K | 20x | as long as short |
| Orderly PERP_SKHY_USDC_mythos | +0.0100% | 8h | 192.94 | +0.021% | $2K | $4K | 10x | as long as short |
| BloFin SKHY-USDT | +0.0120% | 8h | 193.08 | +0.093% | $2.3M | $445K | 50x | as long as short |
| Phoenix SKHYshort | +0.0331% | 1h | 193.14 | +0.124% | $216K | $123K | 10x | |
| Bitget SKHYUSDT | +0.0381% | 8h | 192.90 | 0.000% | $25.5M | $26.4M | 20x | as long as short |
| Kraken Futures PF_SKHYUSD | +0.0706% | 1h | 193.02 | +0.063% | $51K | $17K | 20x | as long as short |
SunX SKHY-USDT
Deribit SKHY_USDC-PERPETUAL
HTX SKHY-USDT
Phemex SKHYUSDT
QFEX SKHY-USD
Nado SKHY-PERP
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
BloFin SKHY-USDT
Bitget SKHYUSDT
Kraken Futures PF_SKHYUSD