Funding you earn now, next payment 16:00 UTC−0.0347%/8h= −38.0% APRnext payment −$3.47 per $10,000 · paid last 24h +0.037%
Price spread now: Bybit against Phemex−0.089%53s7-day average +0.002% · you buy dearer than you sell
Net, funding: paid 7d − costs−$141as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$1411.406% of the position
Funding, last 7 days−0.005%$0 on $10k
+Price spread, last 4 days (all we have)+0.221%+$22 · spread now −0.089%, 7d avg +0.002%
=Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Bybit is 0.091% cheaper against Phemex than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.002%). Swap the legs. The two prices were read 53 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 7 days it paid -0.005% in total (about -0.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.47 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex SKHYNIXUSDT | 1,339.5 | 0 | get 0.0000% / 8h | 7h 42m | $1.2M | $781K | 10x |
| Short | Bybit SKHYNIXUSDT | 1,338.3 | −0.0347 | pay 0.0347% / 8h | 7h 42m | $18.7M | $30.5M | 100x |
Phemex SKHYNIXUSDT
Bybit SKHYNIXUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Phemex. 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
- −$72.96
- Price spread: −0.089% → +0.002%
- −$9.06
- Slippage, 4 orders
- −$117.55
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$222.57
- Costs to cover
- 1.406%
- Break-even
- never at this rate
Slippage from Phemex: live order book, just now; Bybit: live order book, 1 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 Phemex live order book, just now | 1.34 bp | 66.9 bp −$67 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 1 min ago | 0.04 bp | 7.2 bp −$7 | 13.1 bp −$131 | 45.3 bp −$4,534 | doesn't fit |
SKHYNIX on 23 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 | |
|---|---|---|---|---|---|---|---|---|
| GRVT SKHYNIX_USDT_Perp | −0.3950% | 4h | 1,340.6 | +0.083% | $97K | $226K | 10x | as long as short |
| HTX SKHYNIX-USDT | −0.2866% | 4h | 1,340.3 | +0.057% | $1.3M | $2.5M | 50x | as long as short |
| ApeX Omni SKHYNIXUSDT | −0.1007% | 1h | 1,339.7 | +0.015% | $140K | $259K | 50x | as long as short |
| SunX SKHYNIX-USDT | −0.0750% | 4h | 1,339.4 | −0.013% | $912 | $452K | 10x | as long as short |
| edgeX SKHYNIXUSDC | −0.0464% | 4h | 1,338.3 | −0.089% | $3.3M | $431K | 10x | as long as short |
| Bybit SKHYNIXUSDTshort | −0.0347% | 8h | 1,338.3 | −0.089% | $18.7M | $30.5M | 100x | |
| KuCoin SKHYNIXUSDTM | −0.0336% | 4h | 1,337.7 | −0.140% | $5.1M | $8.3M | 20x | as long as short |
| Binance SKHYNIXUSDT | −0.0208% | 4h | 1,337.7 | −0.135% | $325.1M | $970.5M | 50x | as long as short |
| Extended SKHYNIX-USD | −0.0160% | 1h | 1,337.8 | −0.132% | $2.3M | $85K | 10x | as long as short |
| Aftermath Perps SKHYNIXUSD | −0.0136% | 1h | 1,338.1 | −0.107% | $673 | $35K | 5x | as long as short |
GRVT SKHYNIX_USDT_Perp
HTX SKHYNIX-USDT
ApeX Omni SKHYNIXUSDT
SunX SKHYNIX-USDT
edgeX SKHYNIXUSDC
KuCoin SKHYNIXUSDTM
Binance SKHYNIXUSDT
Extended SKHYNIX-USD
Aftermath Perps SKHYNIXUSDShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BloFin SKHYNIX-USDT | −0.0117% | 4h | 1,338.8 | −0.057% | $2.5M | $4.0M | 50x | as long as short |
| Aster SKHYNIXUSD1 | −0.0030% | 4h | 1,343.3 | +0.282% | $18.2M | $26.9M | 20x | as long as short |
| Gate SKHYNIX_USDT | 0.0000% | 4h | 1,338.2 | −0.099% | $138.2M | $74.6M | 75x | as long as short |
| Bitget SKHYNIXUSDT | 0.0000% | 4h | 1,338.1 | −0.104% | $21.3M | $35.6M | 20x | as long as short |
| Phemex SKHYNIXUSDTlong | 0.0000% | 8h | 1,339.5 | long leg | $1.2M | $781K | 10x | |
| Polymarket Perps SKHYNIX-USD | +0.0050% | 1h | 1,335 | −0.338% | $250K | $974K | 10x | as long as short |
| Orderly PERP_SKHYNIX_USDC_mythos | +0.0100% | 8h | 1,338.5 | −0.081% | $5K | $1K | 10x | as long as short |
| Aevo SKHX-PERP | +0.0104% | 1h | 1,338.1 | −0.105% | $31K | — | 10x | as long as short |
| Pacifica SKHYNIX | +0.0285% | 1h | 1,338 | −0.111% | $101K | $436K | 10x | as long as short |
| OKX SKHYNIX-USDT-SWAP | +0.0387% | 8h | 1,337.9 | −0.122% | $51.8M | $129.5M | 50x | as long as short |
| SoDEX SKHX-USD | +0.0471% | 1h | 1,338.6 | −0.070% | $391 | $8K | 10x | as long as short |
| tradeXYZ xyz:SKHX | +0.0795% | 1h | 1,336.6 | −0.219% | $296.3M | $275.2M | 10x | as long as short |
| Bullet SKHYNIX-USD | +0.1024% | 1h | 1,337.7 | −0.137% | $14K | $466K | 10x | as long as short |
BloFin SKHYNIX-USDT
Aster SKHYNIXUSD1
Gate SKHYNIX_USDT
Bitget SKHYNIXUSDT
Polymarket Perps SKHYNIX-USD
Orderly PERP_SKHYNIX_USDC_mythos
Aevo SKHX-PERP
Pacifica SKHYNIX
OKX SKHYNIX-USDT-SWAP
SoDEX SKHX-USD
tradeXYZ xyz:SKHX
Bullet SKHYNIX-USD