Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0380%/8h= −41.6% APRpaid last 24h −0.060%

Price spread now: Binance against Phoenix−0.074%7-day average −0.106% · you buy dearer than you sell

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$330.333% of the position

Long on Phoenix Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.322%−$32 on $10k

Price spread, last 2 days (all we have)−0.015%−$2 · spread now −0.074%, 7d avg −0.106%

Together, before fees−0.337%−$34 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.032% dearer against Phoenix than usual: you sell high and buy low (spread −0.074% now, against its 7-day average of −0.106%): +$3 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 7 hours. At the pace of the last 7 days (−0.322% in total) that is about 17 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix SKHY	189.74	0.0380	pay 0.0048% / 1h	20m 47s	$214K	$128K	10x
Short	Binance SKHYUSDT	189.60	0	get 0.0000% / 8h	20m 47s	$212.1M	$377.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Phoenix. 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 PhoenixbpFee BinancebpOrdersPrice spread, now −0.074%Rate

Funding earned: −$79.86
Price spread: −0.074% → −0.106%: $3.21
Slippage, 4 orders: −$16.34
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$109.99
Costs to cover: 0.333%
Break-even: never at this rate

Slippage from Phoenix: live order book, 51 min ago; Binance: 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 Phoenix live order book, 51 min ago	3.17 bp	11.1 bp −$11	23.3 bp −$233	doesn't fit	doesn't fit
Sell Binance live order book, 8 min ago	0.26 bp	5.3 bp −$5	6.9 bp −$69	16.9 bp −$1,689	91.1 bp −$45.5K

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	−0.0782%	4h	189.50	−0.128%	$571K	$289K	10x	as long as short
Nado SKHY-PERP	−0.0048%	1h	189.55	−0.100%	$28K	$2K	10x	as long as short
QFEX SKHY-USD	0.0000%	1h	189.51	−0.121%	$1.2M	$5.3M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	189.58	−0.085%	$252K	$903K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	189.55	−0.102%	$55K	$4K	10x	as long as short
Binance SKHYUSDTshort	0.0000%	8h	189.60	−0.074%	$212.1M	$377.9M	50x
Bybit SKHYUSDT	0.0000%	8h	189.64	−0.053%	$15.6M	$27.0M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	189.62	−0.063%	$47.1M	$61.3M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	189.58	−0.084%	$26.1M	$17.8M	75x	as long as short
Bitget SKHYUSDT	0.0000%	8h	189.62	−0.063%	$25.4M	$25.7M	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SKHY	0.0000%	8h	189.53	−0.111%	$1.6M	$2.6M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	189.54	−0.105%	$22K	$208K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	189.83	+0.047%	$695	$7.2M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	189.46	−0.148%	$155K	$401K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	189.59	−0.079%	$1.5M	$1.1M	10x	as long as short
KuCoin SKHYUSDTM	+0.0008%	8h	189.47	−0.142%	$1.1M	$283K	20x	as long as short
Deribit SKHY_USDC-PERPETUAL	+0.0014%	1h	189.58	−0.084%	$46K	$254K	10x	as long as short
Lighter SKHY	+0.0032%	1h	189.53	−0.111%	$1.0M	$689K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	189.50	−0.126%	$1.1M	$1.4M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	189.58	−0.084%	$56K	$156K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	189.52	−0.116%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	189.57	−0.090%	$202K	$241K	20x	as long as short
tradeXYZ xyz:SKHY	+0.0050%	1h	189.55	−0.100%	$164.5M	$65.1M	10x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	189.48	−0.137%	$170K	$952K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	189.55	−0.100%	$42K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	189.53	−0.111%	$557K	$1.2M	10x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	189.57	−0.090%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	189.60	−0.074%	$2.2M	$415K	50x	as long as short
Coinbase International SKHY-PERP-INTX	+0.0128%	1h	189.72	−0.011%	$169K	$687K	10x	as long as short
Phoenix SKHYlong	+0.0380%	1h	189.74	long leg	$214K	$128K	10x
Kraken Futures PF_SKHYUSD	+0.0951%	1h	189.67	−0.036%	$50K	$24K	20x	as long as short