Funding you earn now, next payment 00:00 UTC−0.0012%/8h= −1.3% APRnext payment −$0.12 per $10,000 · paid last 24h −0.015%
Price spread now: Phemex against KuCoin−0.011%7-day average +0.020% · you buy dearer than you sell
Net, funding: paid 7d − costs−$163as in the Funding arb table
Net, price: spread back to 7d avg − costs−$171as in the Price arb table
costs, in and out, $10k−$1681.679% of the position
Funding, last 7 days+0.047%+$5 on $10k
+Price spread, last 3 days (all we have)+0.019%+$2 · spread now −0.011%, 7d avg +0.020%
=Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Phemex is 0.031% cheaper against KuCoin than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.020%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin SKHYUSDTM | 189.36 | 0.0012 | pay 0.0012% / 8h | 13m 53s | $1.1M | $281K | 20x |
| Short | Phemex SKHYUSDT | 189.34 | 0 | get 0.0000% / 8h | 13m 53s | $1.5M | $1.1M | 10x |
KuCoin SKHYUSDTM
Phemex SKHYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against KuCoin. 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
- −$2.52
- Price spread: −0.011% → +0.020%
- −$3.07
- Slippage, 4 orders
- −$143.92
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$173.51
- Costs to cover
- 1.679%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 1 min ago; Phemex: live order book, 4 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 KuCoin live order book, 1 min ago | 8.72 bp | 41.6 bp −$42 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phemex live order book, 4 min ago | 2.11 bp | 48.9 bp −$49 | doesn't fit | 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 | −0.0648% | 4h | 189.61 | +0.133% | $572K | $291K | 10x | as long as short |
| Nado SKHY-PERP | −0.0044% | 1h | 189.42 | +0.031% | $28K | $2K | 10x | as long as short |
| QFEX SKHY-USD | 0.0000% | 1h | 189.21 | −0.079% | $1.2M | $5.3M | 10x | as long as short |
| Aster SKHYUSDT | 0.0000% | 8h | 189.46 | +0.051% | $252K | $903K | 50x | as long as short |
| Extended SKHY-USD | 0.0000% | 1h | 189.39 | +0.018% | $55K | $4K | 10x | as long as short |
| Binance SKHYUSDT | 0.0000% | 8h | 189.41 | +0.028% | $211.8M | $379.0M | 50x | as long as short |
| Bybit SKHYUSDT | 0.0000% | 8h | 189.47 | +0.058% | $15.7M | $27.0M | 100x | as long as short |
| OKX SKHY-USDT-SWAP | 0.0000% | 8h | 189.42 | +0.032% | $47.1M | $61.4M | 50x | as long as short |
| Gate SKHY_USDT | 0.0000% | 8h | 189.42 | +0.032% | $26.1M | $17.8M | 75x | as long as short |
| Bitget SKHYUSDT | 0.0000% | 8h | 189.50 | +0.074% | $25.2M | $25.8M | 20x | as long as short |
edgeX SKHYUSDC
Nado SKHY-PERP
QFEX SKHY-USD
Aster SKHYUSDT
Extended SKHY-USD
Binance SKHYUSDT
Bybit SKHYUSDT
OKX SKHY-USDT-SWAP
Gate SKHY_USDT
Bitget SKHYUSDTShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni SKHY | 0.0000% | 8h | 189.62 | +0.136% | $1.6M | $2.5M | — | as long as short |
| GRVT SKHY_USDT_Perp | 0.0000% | 8h | 189.64 | +0.149% | $22K | $208K | 10x | as long as short |
| SunX SKHY-USDT | 0.0000% | 8h | 189.66 | +0.158% | $694 | $7.2M | 10x | as long as short |
| Deribit SKHY_USDC-PERPETUAL | 0.0000% | 1h | 189.41 | +0.026% | $45K | $259K | 10x | as long as short |
| HTX SKHY-USDT | 0.0000% | 8h | 189.29 | −0.037% | $155K | $401K | 50x | as long as short |
| Phemex SKHYUSDTshort | 0.0000% | 8h | 189.34 | −0.011% | $1.5M | $1.1M | 10x | |
| KuCoin SKHYUSDTMlong | +0.0012% | 8h | 189.36 | long leg | $1.1M | $281K | 20x | |
| Lighter SKHY | +0.0032% | 1h | 189.33 | −0.016% | $1.0M | $692K | 10x | as long as short |
| Lighter RH SKHY | +0.0032% | 1h | 189.29 | −0.037% | $1.1M | $1.4M | 10x | as long as short |
| Arcus SKHY-USD | +0.0040% | 1h | 189.39 | +0.016% | $56K | $155K | 10x | as long as short |
| Vest SKHY-USD-PERP | +0.0046% | 1h | 189.40 | +0.021% | — | $12K | 10x | as long as short |
| Popdex SKHYUSDT | +0.0048% | 1h | 189.37 | +0.005% | $202K | $241K | 20x | as long as short |
| tradeXYZ xyz:SKHY | +0.0050% | 1h | 189.42 | +0.032% | $164.3M | $65.3M | 10x | as long as short |
| Polymarket Perps SKHY-USD | +0.0050% | 1h | 189.16 | −0.106% | $170K | $952K | 10x | as long as short |
| SoDEX SKHY-USD | +0.0050% | 1h | 189.39 | +0.016% | $42K | $13K | 10x | as long as short |
| Ondo Perps SKHY-USD.P | +0.0050% | 1h | 189.65 | +0.153% | $558K | $1.2M | 10x | as long as short |
| Orderly PERP_SKHY_USDC_mythos | +0.0100% | 8h | 189.39 | +0.016% | $2K | $4K | 10x | as long as short |
| BloFin SKHY-USDT | +0.0120% | 8h | 189.55 | +0.100% | $2.2M | $415K | 50x | as long as short |
| Coinbase International SKHY-PERP-INTX | +0.0128% | 1h | 189.72 | +0.190% | $169K | $684K | 10x | as long as short |
| Phoenix SKHY | +0.0380% | 1h | 189.87 | +0.269% | $214K | $128K | 10x | as long as short |
| Kraken Futures PF_SKHYUSD | +0.0952% | 1h | 189.38 | +0.010% | $50K | $24K | 20x | as long as short |
Variational Omni SKHY
GRVT SKHY_USDT_Perp
SunX SKHY-USDT
Deribit SKHY_USDC-PERPETUAL
HTX SKHY-USDT
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
Orderly PERP_SKHY_USDC_mythos
BloFin SKHY-USDT
Coinbase International SKHY-PERP-INTX
Phoenix SKHY
Kraken Futures PF_SKHYUSD