Funding you earn now, next payment 06:00 UTC−0.0113%/8h= −12.3% APRpaid last 24h −0.088%
Price spread now: KuCoin against Phoenix−0.340%7-day average −0.160% · you buy dearer than you sell
Net, funding: paid 7d − costs−$149as in the Funding arb table
Net, price: spread back to 7d avg − costs−$130as in the Price arb table
costs, in and out, $10k−$1121.123% of the position
Funding, last 7 days−0.367%−$37 on $10k
+Price spread, last 4 days (all we have)−0.213%−$21 · spread now −0.340%, 7d avg −0.160%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and KuCoin is 0.180% cheaper against Phoenix than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of −0.160%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix SKHY | 188.26 | 0.0213 | pay 0.0027% / 1h | 52m 48s | $211K | $115K | 10x |
| Short | KuCoin SKHYUSDTM | 187.62 | 0.0100 | get 0.0100% / 8h | 1h 52m | $1.1M | $326K | 20x |
Phoenix SKHY
KuCoin SKHYUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin against Phoenix. 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
- −$23.66
- Price spread: −0.340% → −0.160%
- −$18
- Slippage, 4 orders
- −$93.34
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$154
- Costs to cover
- 1.123%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 49 min ago; KuCoin: live order book, 2 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, 49 min ago | 3.72 bp | 12.6 bp −$13 | 27.3 bp −$273 | doesn't fit | doesn't fit |
| Sell KuCoin live order book, 2 min ago | 2.67 bp | 52.2 bp −$52 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget SKHYUSDT | −0.1068% | 8h | 187.71 | −0.292% | $25.1M | $31.6M | 20x | as long as short |
| Deribit SKHY_USDC-PERPETUAL | −0.0283% | 1h | 187.51 | −0.398% | $48K | $337K | 10x | as long as short |
| tradeXYZ xyz:SKHY | −0.0201% | 1h | 187.47 | −0.420% | $159.1M | $74.1M | 10x | as long as short |
| Nado SKHY-PERP | −0.0186% | 1h | 187.70 | −0.296% | $33K | $28K | 10x | as long as short |
| Polymarket Perps SKHY-USD | −0.0185% | 1h | 187.44 | −0.436% | $181K | $487K | 10x | as long as short |
| Popdex SKHYUSDT | −0.0152% | 1h | 187.56 | −0.372% | $197K | $274K | 20x | as long as short |
| Kraken Futures PF_SKHYUSD | −0.0138% | 1h | 187.47 | −0.419% | $47K | $19K | 20x | as long as short |
| Lighter SKHY | −0.0112% | 1h | 187.38 | −0.467% | $946K | $1.1M | 10x | as long as short |
| Coinbase International SKHY-PERP-INTX | −0.0104% | 1h | 187.75 | −0.271% | $63K | $902K | 10x | as long as short |
| Ondo Perps SKHY-USD.P | −0.0087% | 1h | 187.96 | −0.159% | $517K | $2.6M | 10x | as long as short |
Bitget SKHYUSDT
Deribit SKHY_USDC-PERPETUAL
tradeXYZ xyz:SKHY
Nado SKHY-PERP
Polymarket Perps SKHY-USD
Popdex SKHYUSDT
Kraken Futures PF_SKHYUSD
Lighter SKHY
Coinbase International SKHY-PERP-INTX
Ondo Perps SKHY-USD.PShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| QFEX SKHY-USD | −0.0049% | 1h | 187.56 | −0.372% | $1.2M | $4.1M | 10x | as long as short |
| edgeX SKHYUSDC | −0.0044% | 4h | 187.50 | −0.404% | $565K | $290K | 10x | as long as short |
| Aster SKHYUSDT | 0.0000% | 8h | 187.52 | −0.393% | $227K | $916K | 50x | as long as short |
| Extended SKHY-USD | 0.0000% | 1h | 187.47 | −0.420% | $55K | $7K | 10x | as long as short |
| Binance SKHYUSDT | 0.0000% | 8h | 187.53 | −0.388% | $200.9M | $435.9M | 50x | as long as short |
| Bybit SKHYUSDT | 0.0000% | 8h | 187.58 | −0.361% | $15.9M | $30.4M | 100x | as long as short |
| OKX SKHY-USDT-SWAP | 0.0000% | 8h | 187.52 | −0.393% | $44.7M | $77.6M | 50x | as long as short |
| Gate SKHY_USDT | 0.0000% | 8h | 187.50 | −0.404% | $25.3M | $20.1M | 75x | as long as short |
| Variational Omni SKHY | 0.0000% | 8h | 187.55 | −0.376% | $1.6M | $1.0M | — | as long as short |
| GRVT SKHY_USDT_Perp | 0.0000% | 8h | 187.52 | −0.393% | $22K | $226K | 10x | as long as short |
| SunX SKHY-USDT | 0.0000% | 8h | 187.76 | −0.266% | $687 | $6.1M | 10x | as long as short |
| HTX SKHY-USDT | 0.0000% | 8h | 187.39 | −0.462% | $155K | $370K | 50x | as long as short |
| Phemex SKHYUSDT | 0.0000% | 8h | 187.44 | −0.436% | $1.5M | $1.1M | 10x | as long as short |
| Lighter RH SKHY | +0.0032% | 1h | 187.38 | −0.467% | $1.1M | $1.6M | 10x | as long as short |
| Arcus SKHY-USD | +0.0040% | 1h | 187.52 | −0.393% | $58K | $164K | 10x | as long as short |
| Vest SKHY-USD-PERP | +0.0046% | 1h | 187.54 | −0.382% | — | $23K | 10x | as long as short |
| SoDEX SKHY-USD | +0.0050% | 1h | 187.45 | −0.430% | $41K | $13K | 10x | as long as short |
| KuCoin SKHYUSDTMshort | +0.0100% | 8h | 187.62 | −0.340% | $1.1M | $326K | 20x | |
| Orderly PERP_SKHY_USDC_mythos | +0.0100% | 8h | 187.47 | −0.420% | $2K | $4K | 10x | as long as short |
| BloFin SKHY-USDT | +0.0120% | 8h | 187.41 | −0.452% | $2.2M | $419K | 50x | as long as short |
| Phoenix SKHYlong | +0.0213% | 1h | 188.26 | long leg | $211K | $115K | 10x |
QFEX SKHY-USD
edgeX SKHYUSDC
Aster SKHYUSDT
Extended SKHY-USD
Binance SKHYUSDT
Bybit SKHYUSDT
OKX SKHY-USDT-SWAP
Gate SKHY_USDT
Variational Omni SKHY
GRVT SKHY_USDT_Perp
SunX SKHY-USDT
HTX SKHY-USDT
Phemex SKHYUSDT
Lighter RH SKHY
Arcus SKHY-USD
Vest SKHY-USD-PERP
SoDEX SKHY-USD
Orderly PERP_SKHY_USDC_mythos
BloFin SKHY-USDT