Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0257%/8h= −28.2% APRpaid last 24h −0.090%

Price spread now: Binance against Phoenix0.000%115s7-day average −0.151% · you sell dearer than you buy

Net, funding: paid 7d − costs−$68as 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−$360.364% of the position

Long on Phoenix Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.313%−$31 on $10k

Price spread, last 4 days (all we have)−0.634%−$63 · spread now 0.000%, 7d avg −0.151%

Together, before fees−0.947%−$95 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.151% dearer against Phoenix than usual: you sell high and buy low (spread 0.000% now, against its 7-day average of −0.151%): +$15 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 47 hours. The two prices were read 115 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix SKHY	186.87	0.0257	pay 0.0032% / 1h	11m 39s	$209K	$123K	10x
Short	Binance SKHYUSDT	186.87	0	get 0.0000% / 8h	6h 11m	$197.4M	$467.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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

Position, each leg$Hold fordaysFee PhoenixbpFee BinancebpOrdersPrice spread, now 0.000%Rate

Funding earned: −$54.07
Price spread: 0.000% → −0.151%: $15.07
Slippage, 4 orders: −$19.41
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$75.4
Costs to cover: 0.364%
Break-even: never at this rate

Slippage from Phoenix: live order book, 35 min ago; Binance: live order book, 10 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, 35 min ago	3.76 bp	12.7 bp −$13	27.3 bp −$273	doesn't fit	doesn't fit
Sell Binance live order book, 10 min ago	0.27 bp	5.3 bp −$5	7.1 bp −$71	18.9 bp −$1,889	76.2 bp −$38.1K

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
Bitget SKHYUSDT	−0.0691%	8h	186.94	+0.037%	$25.8M	$35.8M	20x	as long as short
KuCoin SKHYUSDTM	−0.0132%	8h	186.83	−0.021%	$1.1M	$447K	20x	as long as short
edgeX SKHYUSDC	−0.0128%	4h	186.63	−0.129%	$562K	$291K	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	−0.0124%	1h	186.85	−0.011%	$24K	$440K	10x	as long as short
Nado SKHY-PERP	−0.0008%	1h	187.01	+0.075%	$32K	$28K	10x	as long as short
QFEX SKHY-USD	−0.0005%	1h	186.88	+0.005%	$1.2M	$4.3M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	186.83	−0.019%	$264K	$910K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	186.82	−0.025%	$54K	$7K	10x	as long as short
Binance SKHYUSDTshort	0.0000%	8h	186.87	0.000%	$197.4M	$467.2M	50x
Bybit SKHYUSDT	0.0000%	8h	186.93	+0.032%	$16.2M	$33.9M	100x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX SKHY-USDT-SWAP	0.0000%	8h	186.92	+0.027%	$44.4M	$83.9M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	186.85	−0.011%	$25.2M	$21.8M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	186.61	−0.137%	$1.5M	$1.0M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	186.84	−0.016%	$22K	$251K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	187.11	+0.128%	$685	$5.6M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	186.87	0.000%	$155K	$375K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	186.90	+0.016%	$1.5M	$1.1M	10x	as long as short
tradeXYZ xyz:SKHY	+0.0016%	1h	186.81	−0.032%	$158.1M	$77.8M	10x	as long as short
Lighter SKHY	+0.0032%	1h	186.83	−0.021%	$985K	$1.3M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	186.84	−0.016%	$1.1M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	186.85	−0.011%	$60K	$129K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	186.86	−0.005%	—	$39K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	186.90	+0.016%	$199K	$299K	20x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	186.81	−0.032%	$180K	$365K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	186.85	−0.011%	$41K	$12K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	186.68	−0.102%	$522K	$2.5M	10x	as long as short
Coinbase International SKHY-PERP-INTX	+0.0056%	1h	186.08	−0.423%	$110K	$884K	10x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	186.83	−0.021%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	186.85	−0.011%	$2.2M	$452K	50x	as long as short
Phoenix SKHYlong	+0.0257%	1h	186.87	long leg	$209K	$123K	10x
Kraken Futures PF_SKHYUSD	+0.0754%	1h	186.81	−0.034%	$51K	$36K	20x	as long as short