Funding you earn now, next payment 05:00 UTC−0.0222%/8h= −24.3% APRnext payment −$0.28 per $10,000 · paid last 24h −0.082%
Price spread now: Popdex against Phoenix+0.187%54s7-day average −0.138% · 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−$380.376% of the position
Funding, last 4 days (all we have)−0.083%−$8 on $10k
+Price spread, last 4 days (all we have)−0.651%−$65 · spread now +0.187%, 7d avg −0.138%
=The price spread pays, funding is against you. Popdex is 0.325% dearer against Phoenix than usual: you sell high and buy low (spread +0.187% now, against its 7-day average of −0.138%): +$32 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 4.9 days. At the pace of the last 4 days (−0.083% in total) that is about 14 days. The two prices were read 54 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 | 187.27 | 0.0254 | pay 0.0032% / 1h | 10m 23s | $210K | $124K | 10x |
| Short | Popdex SKHYUSDT | 187.62 | 0.0032 | get 0.0004% / 1h | 10m 23s | $196K | $273K | 20x |
Phoenix SKHY
Popdex SKHYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Popdex 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
- −$46.66
- Price spread: +0.187% → −0.138%
- $32.47
- Slippage, 4 orders
- −$24.16
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Popdex: 3.2 bp × 2 orders
- −$6.4
- Net
- −$51.76
- Costs to cover
- 0.376%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 31 min ago; Popdex: live order book, 38 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, 31 min ago | 3.72 bp | 12.6 bp −$13 | 27.3 bp −$273 | doesn't fit | doesn't fit |
| Sell Popdex live order book, 38 min ago | 2.38 bp | 6.3 bp −$6 | 9.5 bp −$95 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget SKHYUSDT | −0.1210% | 8h | 187.74 | +0.251% | $25.1M | $31.3M | 20x | as long as short |
| Deribit SKHY_USDC-PERPETUAL | −0.0336% | 1h | 187.61 | +0.182% | $48K | $336K | 10x | as long as short |
| edgeX SKHYUSDC | −0.0332% | 4h | 187.06 | −0.113% | $564K | $290K | 10x | as long as short |
| Nado SKHY-PERP | −0.0146% | 1h | 187.70 | +0.231% | $33K | $28K | 10x | as long as short |
| tradeXYZ xyz:SKHY | −0.0118% | 1h | 187.62 | +0.187% | $159.2M | $74.2M | 10x | as long as short |
| Polymarket Perps SKHY-USD | −0.0093% | 1h | 187.55 | +0.150% | $181K | $487K | 10x | as long as short |
| Coinbase International SKHY-PERP-INTX | −0.0024% | 1h | 187.32 | +0.027% | $61K | $897K | 10x | as long as short |
| Lighter SKHY | −0.0016% | 1h | 187.55 | +0.150% | $929K | $1.1M | 10x | as long as short |
| QFEX SKHY-USD | −0.0014% | 1h | 187.56 | +0.155% | $1.2M | $4.1M | 10x | as long as short |
| Ondo Perps SKHY-USD.P | −0.0011% | 1h | 187.45 | +0.096% | $516K | $2.6M | 10x | as long as short |
Bitget SKHYUSDT
Deribit SKHY_USDC-PERPETUAL
edgeX SKHYUSDC
Nado SKHY-PERP
tradeXYZ xyz:SKHY
Polymarket Perps SKHY-USD
Coinbase International SKHY-PERP-INTX
Lighter SKHY
QFEX SKHY-USD
Ondo Perps SKHY-USD.PShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster SKHYUSDT | 0.0000% | 8h | 187.69 | +0.226% | $228K | $916K | 50x | as long as short |
| Extended SKHY-USD | 0.0000% | 1h | 187.57 | +0.159% | $55K | $7K | 10x | as long as short |
| Binance SKHYUSDT | 0.0000% | 8h | 187.58 | +0.164% | $201.2M | $433.2M | 50x | as long as short |
| Bybit SKHYUSDT | 0.0000% | 8h | 187.63 | +0.192% | $15.9M | $30.2M | 100x | as long as short |
| OKX SKHY-USDT-SWAP | 0.0000% | 8h | 187.60 | +0.176% | $44.7M | $77.3M | 50x | as long as short |
| Gate SKHY_USDT | 0.0000% | 8h | 187.62 | +0.187% | $25.3M | $20.8M | 75x | as long as short |
| Variational Omni SKHY | 0.0000% | 8h | 187.51 | +0.129% | $1.6M | $1.0M | — | as long as short |
| GRVT SKHY_USDT_Perp | 0.0000% | 8h | 186.93 | −0.182% | $22K | $223K | 10x | as long as short |
| SunX SKHY-USDT | 0.0000% | 8h | 187.87 | +0.320% | $688 | $6.2M | 10x | as long as short |
| HTX SKHY-USDT | 0.0000% | 8h | 187.46 | +0.101% | $155K | $371K | 50x | as long as short |
| Phemex SKHYUSDT | 0.0000% | 8h | 187.60 | +0.176% | $1.5M | $1.1M | 10x | as long as short |
| Lighter RH SKHY | +0.0032% | 1h | 187.52 | +0.133% | $1.1M | $1.6M | 10x | as long as short |
| Popdex SKHYUSDTshort | +0.0032% | 1h | 187.62 | +0.187% | $196K | $273K | 20x | |
| Arcus SKHY-USD | +0.0040% | 1h | 187.27 | 0.000% | $58K | $164K | 10x | as long as short |
| Vest SKHY-USD-PERP | +0.0046% | 1h | 187.66 | +0.208% | — | $12K | 10x | as long as short |
| SoDEX SKHY-USD | +0.0050% | 1h | 187.37 | +0.053% | $41K | $13K | 10x | as long as short |
| KuCoin SKHYUSDTM | +0.0100% | 8h | 187.57 | +0.160% | $1.1M | $322K | 20x | as long as short |
| Orderly PERP_SKHY_USDC_mythos | +0.0100% | 8h | 187.64 | +0.198% | $2K | $4K | 10x | as long as short |
| BloFin SKHY-USDT | +0.0120% | 8h | 187.63 | +0.192% | $2.1M | $416K | 50x | as long as short |
| Phoenix SKHYlong | +0.0254% | 1h | 187.27 | long leg | $210K | $124K | 10x | |
| Kraken Futures PF_SKHYUSD | +0.0261% | 1h | 187.67 | +0.215% | $47K | $19K | 20x | as long as short |
Aster SKHYUSDT
Extended SKHY-USD
Binance SKHYUSDT
Bybit SKHYUSDT
OKX SKHY-USDT-SWAP
Gate SKHY_USDT
Variational Omni SKHY
GRVT SKHY_USDT_Perp
SunX SKHY-USDT
HTX SKHY-USDT
Phemex SKHYUSDT
Lighter RH SKHY
Arcus SKHY-USD
Vest SKHY-USD-PERP
SoDEX SKHY-USD
KuCoin SKHYUSDTM
Orderly PERP_SKHY_USDC_mythos
BloFin SKHY-USDT
Kraken Futures PF_SKHYUSD