Funding you earn now, next payment 01:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h −0.012%
Price spread now: Phemex against Popdex−0.057%7-day average −0.002% · 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−$105as in the Price arb table
costs, in and out, $10k−$1000.998% of the position
Funding, last 3 days (all we have)−0.047%−$5 on $10k
+Price spread, last 3 days (all we have)−0.031%−$3 · spread now −0.057%, 7d avg −0.002%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phemex is 0.055% cheaper against Popdex than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.002%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Popdex SKHYUSDT | 193.33 | 0.0048 | pay 0.0006% / 1h | 59m 58s | $197K | $258K | 20x |
| Short | Phemex SKHYUSDT | 193.22 | 0 | get 0.0000% / 8h | 6h 59m | $1.5M | $1.1M | 10x |
Popdex SKHYUSDT
Phemex SKHYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Popdex. 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
- −$10.08
- Price spread: −0.057% → −0.002%
- −$5.49
- Slippage, 4 orders
- −$81.43
- Fee Popdex: 3.2 bp × 2 orders
- −$6.4
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$115.4
- Costs to cover
- 0.998%
- Break-even
- never at this rate
Slippage from Popdex: live order book, 9 min ago; Phemex: live order book, 3 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 Popdex live order book, 9 min ago | 0.78 bp | 4.3 bp −$4 | 7.1 bp −$71 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 3 min ago | 2.07 bp | 39.8 bp −$40 | doesn't fit | 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 | −0.0880% | 4h | 193.20 | −0.068% | $582K | $291K | 10x | as long as short |
| Nado SKHY-PERP | −0.0023% | 1h | 193.33 | −0.002% | $44K | $20K | 10x | as long as short |
| Aster SKHYUSDT | 0.0000% | 8h | 193.14 | −0.097% | $248K | $890K | 50x | as long as short |
| Extended SKHY-USD | 0.0000% | 1h | 193.22 | −0.057% | $56K | $7K | 10x | as long as short |
| Binance SKHYUSDT | 0.0000% | 8h | 193.26 | −0.035% | $211.4M | $385.1M | 50x | as long as short |
| Bybit SKHYUSDT | 0.0000% | 8h | 193.27 | −0.031% | $15.7M | $27.1M | 100x | as long as short |
| OKX SKHY-USDT-SWAP | 0.0000% | 8h | 193.29 | −0.021% | $46.9M | $68.6M | 50x | as long as short |
| Gate SKHY_USDT | 0.0000% | 8h | 193.20 | −0.067% | $25.8M | $18.9M | 75x | as long as short |
| Variational Omni SKHY | 0.0000% | 8h | 193.13 | −0.103% | $1.7M | $2.3M | — | as long as short |
| SunX SKHY-USDT | 0.0000% | 8h | 193.59 | +0.134% | $709 | $6.7M | 10x | as long as short |
edgeX SKHYUSDC
Nado SKHY-PERP
Aster SKHYUSDT
Extended SKHY-USD
Binance SKHYUSDT
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 | 193.25 | −0.041% | $48K | $270K | 10x | as long as short |
| HTX SKHY-USDT | 0.0000% | 8h | 193.19 | −0.072% | $160K | $376K | 50x | as long as short |
| Phemex SKHYUSDTshort | 0.0000% | 8h | 193.22 | −0.057% | $1.5M | $1.1M | 10x | |
| QFEX SKHY-USD | +0.0005% | 1h | 193.27 | −0.031% | $1.2M | $4.9M | 10x | as long as short |
| Lighter SKHY | +0.0032% | 1h | 193.15 | −0.093% | $1.0M | $699K | 10x | as long as short |
| Lighter RH SKHY | +0.0032% | 1h | 193.11 | −0.114% | $1.1M | $1.5M | 10x | as long as short |
| Arcus SKHY-USD | +0.0040% | 1h | 193.25 | −0.041% | $57K | $153K | 10x | as long as short |
| Vest SKHY-USD-PERP | +0.0046% | 1h | 193.29 | −0.021% | — | $12K | 10x | as long as short |
| Popdex SKHYUSDTlong | +0.0048% | 1h | 193.33 | long leg | $197K | $258K | 20x | |
| tradeXYZ xyz:SKHY | +0.0050% | 1h | 193.19 | −0.072% | $163.5M | $66.7M | 10x | as long as short |
| Polymarket Perps SKHY-USD | +0.0050% | 1h | 193.22 | −0.057% | $190K | $454K | 10x | as long as short |
| SoDEX SKHY-USD | +0.0050% | 1h | 193.18 | −0.078% | $43K | $13K | 10x | as long as short |
| Ondo Perps SKHY-USD.P | +0.0050% | 1h | 193.39 | +0.031% | $541K | $1.7M | 10x | as long as short |
| Coinbase International SKHY-PERP-INTX | +0.0088% | 1h | 193.24 | −0.047% | $54K | $870K | 10x | as long as short |
| KuCoin SKHYUSDTM | +0.0100% | 8h | 193.24 | −0.047% | $1.1M | $279K | 20x | as long as short |
| Orderly PERP_SKHY_USDC_mythos | +0.0100% | 8h | 193.25 | −0.041% | $2K | $4K | 10x | as long as short |
| BloFin SKHY-USDT | +0.0120% | 8h | 193.19 | −0.072% | $2.2M | $446K | 50x | as long as short |
| Phoenix SKHY | +0.0335% | 1h | 193.41 | +0.041% | $218K | $120K | 10x | as long as short |
| GRVT SKHY_USDT_Perp | +0.0406% | 8h | 193.39 | +0.031% | $23K | $192K | 10x | as long as short |
| Bitget SKHYUSDT | +0.0427% | 8h | 193.25 | −0.041% | $25.6M | $27.0M | 20x | as long as short |
| Kraken Futures PF_SKHYUSD | +0.0708% | 1h | 193.35 | +0.013% | $51K | $17K | 20x | as long as short |
Deribit SKHY_USDC-PERPETUAL
HTX SKHY-USDT
QFEX SKHY-USD
Lighter SKHY
Lighter RH SKHY
Arcus SKHY-USD
Vest SKHY-USD-PERP
tradeXYZ xyz:SKHY
Polymarket Perps SKHY-USD
SoDEX SKHY-USD
Ondo Perps SKHY-USD.P
Coinbase International SKHY-PERP-INTX
KuCoin SKHYUSDTM
Orderly PERP_SKHY_USDC_mythos
BloFin SKHY-USDT
Phoenix SKHY
GRVT SKHY_USDT_Perp
Bitget SKHYUSDT
Kraken Futures PF_SKHYUSD