SKHY

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0310%/8h= −33.9% APRnext payment −$0.39 per $10,000 · paid last 24h −0.100%

Price spread now: Deribit against Phoenix−0.137%50s7-day average −0.099% · you buy dearer than you sell

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−$540.537% of the position

Long on Phoenix Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.159%−$16 on $10k

Price spread, last 4 days (all we have)−0.002%$0 · spread now −0.137%, 7d avg −0.099%

Together, before fees−0.161%−$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Deribit is 0.038% cheaper against Phoenix than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.099%). Swap the legs. The two prices were read 50 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	190.44	0.0375	pay 0.0047% / 1h	39m 27s	$213K	$124K	10x
Short	Deribit SKHY_USDC-PERPETUAL	190.18	0.0066	get 0.0008% / 1h	39m 27s	$48K	$326K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.137%Rate

Funding earned: −$65.05
Price spread: −0.137% → −0.099%: −$3.75
Slippage, 4 orders: −$39.69
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$122.49
Costs to cover: 0.537%
Break-even: never at this rate

Slippage from Phoenix: live order book, 7 min ago; Deribit: live order book, 14 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, 7 min ago	3.67 bp	12.5 bp −$12	27.0 bp −$270	doesn't fit	doesn't fit
Sell Deribit live order book, 14 min ago	4.17 bp	19.2 bp −$19	22.6 bp −$226	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	−0.0799%	4h	190.46	+0.009%	$574K	$290K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0104%	1h	192.84	+1.260%	$45K	$861K	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	190.04	−0.212%	$247K	$893K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	189.97	−0.249%	$55K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	189.91	−0.277%	$199.6M	$403.9M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	189.91	−0.278%	$15.3M	$28.6M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	189.82	−0.326%	$45.4M	$72.8M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	189.85	−0.310%	$25.6M	$19.4M	75x	as long as short
Bitget SKHYUSDT	0.0000%	8h	190.12	−0.168%	$24.4M	$28.3M	20x	as long as short
Variational Omni SKHY	0.0000%	8h	190.47	+0.017%	$1.6M	$1.1M	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT SKHY_USDT_Perp	0.0000%	8h	190.25	−0.101%	$22K	$211K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	190.46	+0.011%	$697	$6.2M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	190.08	−0.189%	$159K	$369K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	190.15	−0.152%	$1.5M	$1.1M	10x	as long as short
tradeXYZ xyz:SKHY	+0.0002%	1h	189.85	−0.310%	$158.7M	$69.0M	10x	as long as short
QFEX SKHY-USD	+0.0011%	1h	189.96	−0.252%	$1.2M	$4.1M	10x	as long as short
Lighter SKHY	+0.0032%	1h	189.84	−0.315%	$1.0M	$691K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	189.93	−0.268%	$1.1M	$1.4M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	190.37	−0.037%	$59K	$164K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	190.02	−0.221%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	189.93	−0.268%	$200K	$257K	20x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	189.90	−0.284%	$183K	$470K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	190.13	−0.163%	$42K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	189.99	−0.236%	$563K	$2.7M	10x	as long as short
Deribit SKHY_USDC-PERPETUALshort	+0.0066%	1h	190.18	−0.137%	$48K	$326K	10x
KuCoin SKHYUSDTM	+0.0100%	8h	190.04	−0.210%	$1.1M	$320K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	189.89	−0.289%	$2K	$4K	10x	as long as short
Nado SKHY-PERP	+0.0104%	1h	190.04	−0.208%	$34K	$28K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	190.36	−0.042%	$2.2M	$435K	50x	as long as short
Phoenix SKHYlong	+0.0375%	1h	190.44	long leg	$213K	$124K	10x
Kraken Futures PF_SKHYUSD	+0.0689%	1h	190.21	−0.120%	$48K	$19K	20x	as long as short