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Funding arb · Price arb /

SKHY

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 00:00 UTC−0.0287%/8h= −31.5% APRnext payment −$0.36 per $10,000 · paid last 24h −0.078%
Price spread now: Popdex against Phoenix+0.031%54s7-day average −0.137% · 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−$310.311% of the position
Long on PhoenixShort on Popdex
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.064%−$6 on $10k
Price spread, last 3 days (all we have)−0.424%−$42 · spread now +0.031%, 7d avg −0.137%
Together, before fees−0.488%−$49 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Popdex is 0.168% dearer against Phoenix than usual: you sell high and buy low (spread +0.031% now, against its 7-day average of −0.137%): +$17 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 47 hours. At the pace of the last 3 days (−0.064% in total) that is about 9.0 days. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.064% in total (about -6.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.36 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhoenix SKHY193.320.0335pay 0.0042% / 1h4m 10s$218K$120K10x
ShortPopdex SKHYUSDT193.380.0048get 0.0006% / 1h4m 10s$197K$258K20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Popdex 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

Funding earned
−$60.32
Price spread: +0.031% → −0.137%
$16.76
Slippage, 4 orders
−$17.69
Fee Phoenix: 3.5 bp × 2 orders
−$7
Fee Popdex: 3.2 bp × 2 orders
−$6.4
Net
−$74.65
Costs to cover
0.311%
Break-even
never at this rate
Slippage from Phoenix: live order book, 63 min ago; Popdex: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Phoenix live order book, 63 min ago3.15 bp11.0 bp −$1123.2 bp −$232doesn't fitdoesn't fit
Sell Popdex live order book, 5 min ago0.78 bp4.7 bp −$58.2 bp −$82doesn't fitdoesn't fit

SKHY on 31 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
edgeX SKHYUSDC−0.0141%4h193.40+0.042%$583K$290K10xas long as short
Nado SKHY-PERP−0.0024%1h193.38+0.033%$44K$20K10xas long as short
Aster SKHYUSDT0.0000%8h193.15−0.088%$249K$890K50xas long as short
Extended SKHY-USD0.0000%1h193.25−0.038%$56K$7K10xas long as short
Binance SKHYUSDT0.0000%8h193.29−0.016%$211.5M$385.1M50xas long as short
Bybit SKHYUSDT0.0000%8h193.33+0.005%$15.6M$27.0M100xas long as short
OKX SKHY-USDT-SWAP0.0000%8h193.29−0.016%$46.9M$68.3M50xas long as short
Gate SKHY_USDT0.0000%8h193.29−0.016%$25.8M$18.8M75xas long as short
Variational Omni SKHY0.0000%8h193.46+0.072%$1.6M$2.3M—as long as short
SunX SKHY-USDT0.0000%8h193.67+0.181%$709$6.7M10xas long as short
Show all 31 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Deribit SKHY_USDC-PERPETUAL0.0000%1h193.29−0.016%$48K$269K10xas long as short
HTX SKHY-USDT0.0000%8h193.320.000%$160K$380K50xas long as short
Phemex SKHYUSDT0.0000%8h193.29−0.016%$1.5M$1.1M10xas long as short
QFEX SKHY-USD+0.0005%1h193.33+0.005%$1.2M$5.0M10xas long as short
Lighter SKHY+0.0032%1h193.21−0.057%$1.0M$697K10xas long as short
Lighter RH SKHY+0.0032%1h193.18−0.072%$1.1M$1.5M10xas long as short
Arcus SKHY-USD+0.0040%1h193.38+0.031%$57K$153K10xas long as short
Vest SKHY-USD-PERP+0.0046%1h193.42+0.052%—$12K10xas long as short
Popdex SKHYUSDTshort+0.0048%1h193.38+0.031%$197K$258K20x
tradeXYZ xyz:SKHY+0.0050%1h193.30−0.010%$163.6M$66.6M10xas long as short
Polymarket Perps SKHY-USD+0.0050%1h193.29−0.016%$190K$454K10xas long as short
SoDEX SKHY-USD+0.0050%1h193.31−0.005%$43K$13K10xas long as short
Ondo Perps SKHY-USD.P+0.0050%1h193.28−0.021%$542K$1.7M10xas long as short
Coinbase International SKHY-PERP-INTX+0.0088%1h193.24−0.041%$54K$870K10xas long as short
KuCoin SKHYUSDTM+0.0100%8h193.320.000%$1.1M$278K20xas long as short
Orderly PERP_SKHY_USDC_mythos+0.0100%8h193.31−0.005%$2K$4K10xas long as short
BloFin SKHY-USDT+0.0120%8h193.44+0.062%$2.2M$446K50xas long as short
Phoenix SKHYlong+0.0335%1h193.32long leg$218K$120K10x
GRVT SKHY_USDT_Perp+0.0411%8h193.23−0.047%$23K$192K10xas long as short
Bitget SKHYUSDT+0.0421%8h193.33+0.005%$25.8M$26.9M20xas long as short
Kraken Futures PF_SKHYUSD+0.0708%1h193.41+0.046%$51K$17K20xas long as short