Funding you earn now, next payment 02:00 UTC+0.0282%/8h= +30.9% APRnext payment +$0.35 per $10,000 · paid last 24h +0.079%
Price spread now: Phoenix against Polymarket Perps+0.109%7-day average +0.166% · you sell dearer than you buy
Net, funding: paid 7d − costs−$11as in the Funding arb table
Net, price: spread back to 7d avg − costs−$44as in the Price arb table
costs, in and out, $10k−$380.384% of the position
Funding, last 7 days+0.277%+$28 on $10k
+Price spread, last 4 days (all we have)+0.819%+$82 · spread now +0.109%, 7d avg +0.166%
=Funding pays, the price is against you. Phoenix is 0.057% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread +0.109% now, against its 7-day average of +0.166%). If the spread goes back, that is −$6 on $10k: about 16 hours of funding at the current rate (+$8 a day). At the pace of the last 7 days (+0.277% in total) that is about 35 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Polymarket Perps SKHY-USD | 192.97 | 0.0050 | pay 0.0006% / 1h | 52m 47s | $189K | $456K | 10x |
| Short | Phoenix SKHY | 193.18 | 0.0332 | get 0.0042% / 1h | 52m 47s | $216K | $124K | 10x |
Polymarket Perps SKHY-USD
Phoenix SKHYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Polymarket Perps. 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
- $59.22
- Price spread: +0.109% → +0.166%
- −$5.73
- Slippage, 4 orders
- −$23.39
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $15.1
- Costs to cover
- 0.384%
- Break-even
- 5.2 days
Slippage from Polymarket Perps: live order book, 10 min ago; Phoenix: 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 Polymarket Perps live order book, 10 min ago | 2.85 bp | 7.8 bp −$8 | 7.9 bp −$79 | 10.5 bp −$1,047 | doesn't fit |
| Sell Phoenix live order book, 4 min ago | 3.62 bp | 11.9 bp −$12 | 25.6 bp −$256 | doesn't fit | doesn't fit |
SKHY on 30 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 | −0.0535% | 4h | 193.07 | +0.051% | $582K | $290K | 10x | as long as short |
| Coinbase International SKHY-PERP-INTX | −0.0032% | 1h | 192.90 | −0.036% | $45K | $874K | 10x | as long as short |
| Aster SKHYUSDT | 0.0000% | 8h | 193.04 | +0.036% | $248K | $890K | 50x | as long as short |
| Extended SKHY-USD | 0.0000% | 1h | 193.00 | +0.016% | $56K | $7K | 10x | as long as short |
| Binance SKHYUSDT | 0.0000% | 8h | 193.07 | +0.052% | $208.5M | $385.4M | 50x | as long as short |
| Bybit SKHYUSDT | 0.0000% | 8h | 193.13 | +0.083% | $15.7M | $27.3M | 100x | as long as short |
| OKX SKHY-USDT-SWAP | 0.0000% | 8h | 193.15 | +0.093% | $46.9M | $69.3M | 50x | as long as short |
| Gate SKHY_USDT | 0.0000% | 8h | 193.04 | +0.036% | $25.8M | $18.8M | 75x | as long as short |
| Variational Omni SKHY | 0.0000% | 8h | 192.98 | +0.007% | $1.6M | $1.4M | — | as long as short |
| GRVT SKHY_USDT_Perp | 0.0000% | 8h | 193.12 | +0.078% | $23K | $194K | 10x | as long as short |
edgeX SKHYUSDC
Coinbase International SKHY-PERP-INTX
Aster SKHYUSDT
Extended SKHY-USD
Binance SKHYUSDT
Bybit SKHYUSDT
OKX SKHY-USDT-SWAP
Gate SKHY_USDT
Variational Omni SKHY
GRVT SKHY_USDT_PerpShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX SKHY-USDT | 0.0000% | 8h | 193.35 | +0.197% | $708 | $6.4M | 10x | as long as short |
| Deribit SKHY_USDC-PERPETUAL | 0.0000% | 1h | 193.04 | +0.036% | $48K | $283K | 10x | as long as short |
| HTX SKHY-USDT | 0.0000% | 8h | 193.00 | +0.016% | $160K | $368K | 50x | as long as short |
| Phemex SKHYUSDT | 0.0000% | 8h | 193.03 | +0.031% | $1.5M | $1.1M | 10x | as long as short |
| QFEX SKHY-USD | +0.0004% | 1h | 193.02 | +0.026% | $1.2M | $4.3M | 10x | as long as short |
| Lighter SKHY | +0.0032% | 1h | 193.00 | +0.016% | $1.0M | $684K | 10x | as long as short |
| Lighter RH SKHY | +0.0032% | 1h | 192.94 | −0.016% | $1.1M | $1.5M | 10x | as long as short |
| Arcus SKHY-USD | +0.0040% | 1h | 193.02 | +0.026% | $57K | $154K | 10x | as long as short |
| Vest SKHY-USD-PERP | +0.0046% | 1h | 193.08 | +0.057% | — | $11K | 10x | as long as short |
| Popdex SKHYUSDT | +0.0048% | 1h | 193.07 | +0.052% | $198K | $255K | 20x | as long as short |
| tradeXYZ xyz:SKHY | +0.0050% | 1h | 193.02 | +0.026% | $162.2M | $66.3M | 10x | as long as short |
| Polymarket Perps SKHY-USDlong | +0.0050% | 1h | 192.97 | long leg | $189K | $456K | 10x | |
| SoDEX SKHY-USD | +0.0050% | 1h | 192.99 | +0.010% | $43K | $13K | 10x | as long as short |
| Ondo Perps SKHY-USD.P | +0.0050% | 1h | 193.01 | +0.021% | $569K | $2.1M | 10x | as long as short |
| KuCoin SKHYUSDTM | +0.0100% | 8h | 193.01 | +0.021% | $1.1M | $290K | 20x | as long as short |
| Orderly PERP_SKHY_USDC_mythos | +0.0100% | 8h | 193.07 | +0.052% | $2K | $4K | 10x | as long as short |
| Nado SKHY-PERP | +0.0123% | 1h | 193.08 | +0.055% | $38K | $26K | 10x | as long as short |
| Bitget SKHYUSDT | +0.0210% | 8h | 193.07 | +0.052% | $25.6M | $26.4M | 20x | as long as short |
| Phoenix SKHYshort | +0.0332% | 1h | 193.18 | +0.109% | $216K | $124K | 10x | |
| Kraken Futures PF_SKHYUSD | +0.0545% | 1h | 193.18 | +0.109% | $51K | $17K | 20x | as long as short |
SunX SKHY-USDT
Deribit SKHY_USDC-PERPETUAL
HTX SKHY-USDT
Phemex SKHYUSDT
QFEX SKHY-USD
Lighter SKHY
Lighter RH SKHY
Arcus SKHY-USD
Vest SKHY-USD-PERP
Popdex SKHYUSDT
tradeXYZ xyz:SKHY
SoDEX SKHY-USD
Ondo Perps SKHY-USD.P
KuCoin SKHYUSDTM
Orderly PERP_SKHY_USDC_mythos
Nado SKHY-PERP
Bitget SKHYUSDT
Kraken Futures PF_SKHYUSD