SKHY

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0213%/8h= +23.3% APRnext payment +$0.27 per $10,000 · paid last 24h +0.102%

Price spread now: Phoenix against Deribit+0.241%70s7-day average +0.102% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$550.551% of the position

Long on Deribit Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.170%+$17 on $10k

Price spread, last 4 days (all we have)−0.162%−$16 · spread now +0.241%, 7d avg +0.102%

Together, before fees+0.009%+$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Phoenix is 0.139% dearer against Deribit than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of +0.102%. The two prices were read 70 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	Deribit SKHY_USDC-PERPETUAL	186.37	0	get 0.0000% / 1h	2m 13s	$49K	$345K	10x
Short	Phoenix SKHY	186.82	0.0213	get 0.0027% / 1h	2m 13s	$209K	$115K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Deribit. 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 DeribitbpFee PhoenixbpOrdersPrice spread, now +0.241%Rate

Funding earned: $44.66
Price spread: +0.241% → +0.102%: $13.94
Slippage, 4 orders: −$41.13
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $3.47
Costs to cover: 0.551%
Break-even: 6.5 days

Slippage from Deribit: live order book, 41 min ago; Phoenix: live order book, 35 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 Deribit live order book, 41 min ago	6.16 bp	15.0 bp −$15	17.4 bp −$174	doesn't fit	doesn't fit
Sell Phoenix live order book, 35 min ago	3.75 bp	12.7 bp −$13	27.5 bp −$275	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
Bitget SKHYUSDT	−0.1320%	8h	186.49	+0.064%	$25.2M	$32.6M	20x	as long as short
edgeX SKHYUSDC	−0.0425%	4h	186.44	+0.037%	$562K	$291K	10x	as long as short
Popdex SKHYUSDT	−0.0216%	1h	186.28	−0.048%	$203K	$284K	20x	as long as short
tradeXYZ xyz:SKHY	−0.0201%	1h	186.28	−0.048%	$158.4M	$76.4M	10x	as long as short
Nado SKHY-PERP	−0.0200%	1h	186.28	−0.047%	$33K	$28K	10x	as long as short
Polymarket Perps SKHY-USD	−0.0169%	1h	186.22	−0.080%	$180K	$487K	10x	as long as short
Kraken Futures PF_SKHYUSD	−0.0139%	1h	186.33	−0.020%	$48K	$21K	20x	as long as short
Lighter SKHY	−0.0104%	1h	186.19	−0.097%	$974K	$1.2M	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0104%	1h	187.58	+0.649%	$68K	$905K	10x	as long as short
Ondo Perps SKHY-USD.P	−0.0075%	1h	186.13	−0.129%	$522K	$2.6M	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-USD	−0.0049%	1h	186.28	−0.048%	$1.2M	$4.2M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	186.36	−0.005%	$224K	$925K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	186.25	−0.064%	$54K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	186.27	−0.054%	$199.9M	$447.9M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	186.31	−0.032%	$16.6M	$29.7M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	186.26	−0.059%	$44.6M	$78.4M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	186.32	−0.027%	$25.6M	$20.9M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	186.54	+0.092%	$1.6M	$1.0M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	186.43	+0.032%	$22K	$231K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	186.51	+0.075%	$683	$6.1M	10x	as long as short
Deribit SKHY_USDC-PERPETUALlong	0.0000%	1h	186.37	long leg	$49K	$345K	10x
HTX SKHY-USDT	0.0000%	8h	186.23	−0.075%	$154K	$366K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	186.30	−0.038%	$1.5M	$1.1M	10x	as long as short
KuCoin SKHYUSDTM	+0.0017%	8h	186.28	−0.048%	$1.1M	$325K	20x	as long as short
Lighter RH SKHY	+0.0032%	1h	186.20	−0.091%	$1.1M	$1.7M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	186.32	−0.027%	$60K	$170K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	186.22	−0.080%	—	$32K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	186.22	−0.080%	$41K	$12K	10x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	186.30	−0.038%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	186.19	−0.097%	$2.2M	$422K	50x	as long as short
Phoenix SKHYshort	+0.0213%	1h	186.82	+0.241%	$209K	$115K	10x