Funding you earn now, next payment 09:00 UTC−0.0217%/8h= −23.8% APRnext payment −$0.27 per $10,000 · paid last 24h −0.078%
Price spread now: Arcus against Phoenix+0.460%49s7-day average −0.165% · 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−$400.400% of the position
Funding, last 4 days (all we have)−0.069%−$7 on $10k
+Price spread, last 4 days (all we have)−1.225%−$123 · spread now +0.460%, 7d avg −0.165%
=The price spread pays, funding is against you. Arcus is 0.625% dearer against Phoenix than usual: you sell high and buy low (spread +0.460% now, against its 7-day average of −0.165%): +$62 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 9.6 days. At the pace of the last 4 days (−0.069% in total) that is about 35 days. The two prices were read 49 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 4 days it paid -0.069% in total (about -6.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.27 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix SKHY | 186.95 | 0.0257 | pay 0.0032% / 1h | 4m 32s | $209K | $123K | 10x |
| Short | Arcus SKHY-USD | 187.81 | 0.0040 | get 0.0005% / 1h | 4m 32s | $60K | $130K | 10x |
Phoenix SKHY
Arcus SKHY-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Arcus against Phoenix. 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
- −$45.61
- Price spread: +0.460% → −0.165%
- $62.48
- Slippage, 4 orders
- −$28.54
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Net
- −$23.17
- Costs to cover
- 0.400%
- Break-even
- from the start
Slippage from Phoenix: live order book, 42 min ago; Arcus: live order book, 46 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, 42 min ago | 3.76 bp | 12.7 bp −$13 | 27.3 bp −$273 | doesn't fit | doesn't fit |
| Sell Arcus live order book, 46 min ago | 2.42 bp | 6.4 bp −$6 | 10.7 bp −$107 | doesn't fit | doesn't fit |
SKHY on 31 exchanges
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 | −0.0877% | 4h | 187.11 | +0.084% | $564K | $286K | 10x | as long as short |
| Bitget SKHYUSDT | −0.0652% | 8h | 187.94 | +0.530% | $26.0M | $36.1M | 20x | as long as short |
| Deribit SKHY_USDC-PERPETUAL | −0.0176% | 1h | 187.74 | +0.423% | $24K | $440K | 10x | as long as short |
| KuCoin SKHYUSDTM | −0.0121% | 8h | 187.74 | +0.423% | $1.1M | $455K | 20x | as long as short |
| Nado SKHY-PERP | −0.0019% | 1h | 187.86 | +0.486% | $32K | $28K | 10x | as long as short |
| QFEX SKHY-USD | −0.0005% | 1h | 187.80 | +0.455% | $1.2M | $4.3M | 10x | as long as short |
| Aster SKHYUSDT | 0.0000% | 8h | 187.86 | +0.489% | $263K | $912K | 50x | as long as short |
| Extended SKHY-USD | 0.0000% | 1h | 187.74 | +0.424% | $55K | $7K | 10x | as long as short |
| Binance SKHYUSDT | 0.0000% | 8h | 187.81 | +0.459% | $198.3M | $471.4M | 50x | as long as short |
| Bybit SKHYUSDT | 0.0000% | 8h | 187.83 | +0.471% | $16.3M | $34.1M | 100x | as long as short |
edgeX SKHYUSDC
Bitget SKHYUSDT
Deribit SKHY_USDC-PERPETUAL
KuCoin SKHYUSDTM
Nado SKHY-PERP
QFEX SKHY-USD
Aster SKHYUSDT
Extended SKHY-USD
Binance SKHYUSDT
Bybit SKHYUSDTShow all 31 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX SKHY-USDT-SWAP | 0.0000% | 8h | 187.80 | +0.455% | $44.5M | $85.0M | 50x | as long as short |
| Gate SKHY_USDT | 0.0000% | 8h | 187.74 | +0.423% | $25.2M | $22.0M | 75x | as long as short |
| Variational Omni SKHY | 0.0000% | 8h | 187.79 | +0.450% | $1.5M | $1.0M | — | as long as short |
| GRVT SKHY_USDT_Perp | 0.0000% | 8h | 187.58 | +0.337% | $22K | $245K | 10x | as long as short |
| SunX SKHY-USDT | 0.0000% | 8h | 188.03 | +0.578% | $688 | $5.5M | 10x | as long as short |
| HTX SKHY-USDT | 0.0000% | 8h | 187.79 | +0.449% | $155K | $375K | 50x | as long as short |
| Phemex SKHYUSDT | 0.0000% | 8h | 187.66 | +0.380% | $1.5M | $1.1M | 10x | as long as short |
| tradeXYZ xyz:SKHY | +0.0004% | 1h | 187.79 | +0.449% | $158.5M | $77.9M | 10x | as long as short |
| Lighter SKHY | +0.0032% | 1h | 187.79 | +0.449% | $997K | $1.3M | 10x | as long as short |
| Lighter RH SKHY | +0.0032% | 1h | 187.69 | +0.396% | $1.1M | $1.5M | 10x | as long as short |
| Arcus SKHY-USDshort | +0.0040% | 1h | 187.81 | +0.460% | $60K | $130K | 10x | |
| Vest SKHY-USD-PERP | +0.0046% | 1h | 187.83 | +0.471% | — | $39K | 10x | as long as short |
| Popdex SKHYUSDT | +0.0048% | 1h | 187.78 | +0.444% | $200K | $305K | 20x | as long as short |
| Polymarket Perps SKHY-USD | +0.0050% | 1h | 187.77 | +0.439% | $182K | $352K | 10x | as long as short |
| SoDEX SKHY-USD | +0.0050% | 1h | 187.64 | +0.369% | $41K | $12K | 10x | as long as short |
| Ondo Perps SKHY-USD.P | +0.0050% | 1h | 187.65 | +0.374% | $523K | $2.5M | 10x | as long as short |
| Coinbase International SKHY-PERP-INTX | +0.0056% | 1h | 186.08 | −0.465% | $110K | $774K | 10x | as long as short |
| Orderly PERP_SKHY_USDC_mythos | +0.0100% | 8h | 187.88 | +0.497% | $2K | $4K | 10x | as long as short |
| BloFin SKHY-USDT | +0.0120% | 8h | 187.86 | +0.487% | $2.2M | $458K | 50x | as long as short |
| Phoenix SKHYlong | +0.0257% | 1h | 186.95 | long leg | $209K | $123K | 10x | |
| Kraken Futures PF_SKHYUSD | +0.0750% | 1h | 187.72 | +0.413% | $51K | $36K | 20x | as long as short |
OKX SKHY-USDT-SWAP
Gate SKHY_USDT
Variational Omni SKHY
GRVT SKHY_USDT_Perp
SunX SKHY-USDT
HTX SKHY-USDT
Phemex SKHYUSDT
tradeXYZ xyz:SKHY
Lighter SKHY
Lighter RH SKHY
Vest SKHY-USD-PERP
Popdex SKHYUSDT
Polymarket Perps SKHY-USD
SoDEX SKHY-USD
Ondo Perps SKHY-USD.P
Coinbase International SKHY-PERP-INTX
Orderly PERP_SKHY_USDC_mythos
BloFin SKHY-USDT
Kraken Futures PF_SKHYUSD