SKHY

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0325%/8h= −35.6% APRnext payment −$0.41 per $10,000 · paid last 24h −0.080%

Price spread now: Polymarket Perps against Phoenix−0.141%7-day average −0.168% · you buy dearer than you sell

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$340.340% of the position

Long on Phoenix Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.283%−$28 on $10k

Price spread, last 4 days (all we have)−0.156%−$16 · spread now −0.141%, 7d avg −0.168%

Together, before fees−0.439%−$44 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Polymarket Perps is 0.027% dearer against Phoenix than usual: you sell high and buy low (spread −0.141% now, against its 7-day average of −0.168%): +$3 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 7 hours. At the pace of the last 7 days (−0.283% in total) that is about 16 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix SKHY	191.05	0.0375	pay 0.0047% / 1h	47m 06s	$214K	$124K	10x
Short	Polymarket Perps SKHY-USD	190.78	0.0050	get 0.0006% / 1h	47m 06s	$182K	$460K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.141%Rate

Funding earned: −$68.32
Price spread: −0.141% → −0.168%: $2.67
Slippage, 4 orders: −$19.03
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$99.68
Costs to cover: 0.340%
Break-even: never at this rate

Slippage from Phoenix: live order book, 65 min ago; Polymarket Perps: live order book, 5 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, 65 min ago	2.59 bp	9.9 bp −$10	20.2 bp −$202	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 5 min ago	2.87 bp	7.3 bp −$7	7.4 bp −$74	9.7 bp −$965	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	−0.0851%	4h	190.81	−0.125%	$575K	$291K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0104%	1h	192.84	+0.937%	$45K	$861K	10x	as long as short
tradeXYZ xyz:SKHY	−0.0008%	1h	190.67	−0.199%	$159.4M	$68.9M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	190.87	−0.096%	$248K	$891K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	190.77	−0.145%	$56K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	190.78	−0.141%	$200.6M	$401.3M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	190.76	−0.152%	$15.5M	$28.4M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	190.65	−0.209%	$45.9M	$72.4M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	190.67	−0.199%	$25.7M	$19.3M	75x	as long as short
Bitget SKHYUSDT	0.0000%	8h	190.75	−0.157%	$24.4M	$28.1M	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	191.43	+0.200%	$1.6M	$1.1M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	190.60	−0.236%	$22K	$209K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	191.13	+0.042%	$700	$6.2M	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	0.0000%	1h	190.80	−0.131%	$48K	$325K	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	190.71	−0.178%	$159K	$370K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	190.82	−0.120%	$1.5M	$1.1M	10x	as long as short
QFEX SKHY-USD	+0.0011%	1h	190.83	−0.115%	$1.2M	$4.0M	10x	as long as short
Lighter SKHY	+0.0032%	1h	190.64	−0.215%	$1.0M	$691K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	190.64	−0.215%	$1.1M	$1.4M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	190.99	−0.031%	$59K	$164K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	190.84	−0.110%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	190.86	−0.099%	$201K	$257K	20x	as long as short
Polymarket Perps SKHY-USDshort	+0.0050%	1h	190.78	−0.141%	$182K	$460K	10x
SoDEX SKHY-USD	+0.0050%	1h	190.73	−0.167%	$42K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	190.77	−0.147%	$549K	$2.6M	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	190.83	−0.115%	$1.1M	$321K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	190.83	−0.115%	$2K	$4K	10x	as long as short
Nado SKHY-PERP	+0.0115%	1h	190.88	−0.090%	$34K	$28K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	190.74	−0.162%	$2.2M	$435K	50x	as long as short
Phoenix SKHYlong	+0.0375%	1h	191.05	long leg	$214K	$124K	10x
Kraken Futures PF_SKHYUSD	+0.0686%	1h	190.95	−0.053%	$48K	$19K	20x	as long as short