Funding you earn now, next payment 00:00 UTC+0.0335%/8h= +36.7% APRpaid last 24h +0.090%
Price spread now: Phoenix against Binance+0.186%7-day average +0.106% · you sell dearer than you buy
Net, funding: paid 7d − costs$0as in the Funding arb table
Net, price: spread back to 7d avg − costs−$24as in the Price arb table
costs, in and out, $10k−$320.323% of the position
Funding, last 7 days+0.324%+$32 on $10k
+Price spread, last 2 days (all we have)−0.084%−$8 · spread now +0.186%, 7d avg +0.106%
=Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Phoenix is 0.080% dearer against Binance than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.106%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance SKHYUSDT | 193.12 | 0 | get 0.0000% / 8h | 6h 57m | $211.3M | $384.8M | 50x |
| Short | Phoenix SKHY | 193.48 | 0.0335 | get 0.0042% / 1h | 57m 28s | $217K | $123K | 10x |
Binance SKHYUSDT
Phoenix SKHYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Binance. 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
- $70.4
- Price spread: +0.186% → +0.106%
- $8.01
- Slippage, 4 orders
- −$15.31
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $46.1
- Costs to cover
- 0.323%
- Break-even
- 2.4 days
Slippage from Binance: live order book, 16 min ago; Phoenix: 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 Binance live order book, 16 min ago | 0.26 bp | 5.3 bp −$5 | 7.8 bp −$78 | 25.1 bp −$2,509 | 108.6 bp −$54.3K |
| Sell Phoenix live order book, 5 min ago | 3.10 bp | 10.9 bp −$11 | 22.9 bp −$229 | 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX SKHYUSDC | −0.0430% | 4h | 193.23 | +0.057% | $582K | $289K | 10x | as long as short |
| Coinbase International SKHY-PERP-INTX | −0.0072% | 1h | 193.24 | +0.062% | $54K | $870K | 10x | as long as short |
| Aster SKHYUSDT | 0.0000% | 8h | 193.17 | +0.027% | $249K | $890K | 50x | as long as short |
| Extended SKHY-USD | 0.0000% | 1h | 193.04 | −0.043% | $56K | $7K | 10x | as long as short |
| Binance SKHYUSDTlong | 0.0000% | 8h | 193.12 | long leg | $211.3M | $384.8M | 50x | |
| Bybit SKHYUSDT | 0.0000% | 8h | 193.15 | +0.016% | $15.7M | $27.1M | 100x | as long as short |
| OKX SKHY-USDT-SWAP | 0.0000% | 8h | 193.14 | +0.010% | $46.9M | $68.6M | 50x | as long as short |
| Gate SKHY_USDT | 0.0000% | 8h | 193.05 | −0.036% | $25.8M | $18.5M | 75x | as long as short |
| Variational Omni SKHY | 0.0000% | 8h | 193.13 | +0.006% | $1.7M | $2.3M | — | as long as short |
| SunX SKHY-USDT | 0.0000% | 8h | 193.46 | +0.176% | $708 | $6.7M | 10x | as long as short |
edgeX SKHYUSDC
Coinbase International SKHY-PERP-INTX
Aster SKHYUSDT
Extended SKHY-USD
Bybit SKHYUSDT
OKX SKHY-USDT-SWAP
Gate SKHY_USDT
Variational Omni SKHY
SunX SKHY-USDTShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit SKHY_USDC-PERPETUAL | 0.0000% | 1h | 193.08 | −0.021% | $48K | $270K | 10x | as long as short |
| HTX SKHY-USDT | 0.0000% | 8h | 193.07 | −0.026% | $160K | $377K | 50x | as long as short |
| Phemex SKHYUSDT | 0.0000% | 8h | 193.04 | −0.041% | $1.5M | $1.1M | 10x | as long as short |
| QFEX SKHY-USD | +0.0002% | 1h | 193.07 | −0.026% | $1.2M | $4.9M | 10x | as long as short |
| Nado SKHY-PERP | +0.0016% | 1h | 193.14 | +0.009% | $44K | $20K | 10x | as long as short |
| Lighter SKHY | +0.0032% | 1h | 193.06 | −0.031% | $1.0M | $654K | 10x | as long as short |
| Lighter RH SKHY | +0.0032% | 1h | 193.02 | −0.052% | $1.1M | $1.5M | 10x | as long as short |
| Arcus SKHY-USD | +0.0040% | 1h | 193.19 | +0.036% | $57K | $154K | 10x | as long as short |
| Vest SKHY-USD-PERP | +0.0046% | 1h | 193.13 | +0.005% | — | $12K | 10x | as long as short |
| Popdex SKHYUSDT | +0.0048% | 1h | 193.13 | +0.005% | $197K | $257K | 20x | as long as short |
| tradeXYZ xyz:SKHY | +0.0050% | 1h | 193.02 | −0.052% | $163.3M | $66.7M | 10x | as long as short |
| Polymarket Perps SKHY-USD | +0.0050% | 1h | 193.03 | −0.047% | $190K | $454K | 10x | as long as short |
| SoDEX SKHY-USD | +0.0050% | 1h | 193.07 | −0.026% | $43K | $13K | 10x | as long as short |
| Ondo Perps SKHY-USD.P | +0.0050% | 1h | 193.09 | −0.016% | $541K | $1.7M | 10x | as long as short |
| KuCoin SKHYUSDTM | +0.0100% | 8h | 193.17 | +0.026% | $1.1M | $279K | 20x | as long as short |
| Orderly PERP_SKHY_USDC_mythos | +0.0100% | 8h | 193.20 | +0.041% | $2K | $4K | 10x | as long as short |
| BloFin SKHY-USDT | +0.0120% | 8h | 193.22 | +0.052% | $2.2M | $446K | 50x | as long as short |
| GRVT SKHY_USDT_Perp | +0.0296% | 8h | 193.22 | +0.052% | $23K | $191K | 10x | as long as short |
| Phoenix SKHYshort | +0.0335% | 1h | 193.48 | +0.186% | $217K | $123K | 10x | |
| Bitget SKHYUSDT | +0.0427% | 8h | 193.17 | +0.026% | $25.6M | $26.6M | 20x | as long as short |
| Kraken Futures PF_SKHYUSD | +0.0705% | 1h | 193.19 | +0.036% | $51K | $17K | 20x | as long as short |
Deribit SKHY_USDC-PERPETUAL
HTX SKHY-USDT
Phemex SKHYUSDT
QFEX SKHY-USD
Nado SKHY-PERP
Lighter SKHY
Lighter RH SKHY
Arcus SKHY-USD
Vest SKHY-USD-PERP
Popdex SKHYUSDT
tradeXYZ xyz:SKHY
Polymarket Perps SKHY-USD
SoDEX SKHY-USD
Ondo Perps SKHY-USD.P
KuCoin SKHYUSDTM
Orderly PERP_SKHY_USDC_mythos
BloFin SKHY-USDT
GRVT SKHY_USDT_Perp
Bitget SKHYUSDT
Kraken Futures PF_SKHYUSD