Funding you earn now, next payment 02:00 UTC+0.0282%/8h= +30.9% APRnext payment +$0.35 per $10,000 · paid last 24h +0.086%
Price spread now: Phoenix against tradeXYZ+0.119%81s7-day average +0.163% · you sell dearer than you buy
Net, funding: paid 7d − costs−$7as 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−$420.423% of the position
Funding, last 7 days+0.358%+$36 on $10k
+Price spread, last 4 days (all we have)+1.035%+$103 · spread now +0.119%, 7d avg +0.163%
=Together, before fees+1.392%+ Points / potential airdroptradeXYZ: Active · farm board+$139 on $10k · with fees, hour by hour
Funding pays, the price is against you. Phoenix is 0.044% cheaper against tradeXYZ than usual: you would sell low and buy high (spread +0.119% now, against its 7-day average of +0.163%). If the spread goes back, that is −$4 on $10k: about 12 hours of funding at the current rate (+$8 a day). The two prices were read 81 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 | tradeXYZ xyz:SKHY | 193.17 | 0.0050 | pay 0.0006% / 1h | 59m 58s | $161.6M | $67.6M | 10x |
| Short | Phoenix SKHY | 193.40 | 0.0332 | get 0.0042% / 1h | 59m 58s | $217K | $124K | 10x |
tradeXYZ xyz:SKHY
Phoenix SKHYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against tradeXYZ. 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
- $59.22
- Price spread: +0.119% → +0.163%
- −$4.4
- Slippage, 4 orders
- −$17.29
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $12.53
- Costs to cover
- 0.423%
- Break-even
- 5.5 days
Slippage from tradeXYZ: live order book, 10 min ago; Phoenix: live order book, 57 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 tradeXYZ live order book, 10 min ago | 0.26 bp | 9.3 bp −$9 | 10.3 bp −$103 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 57 min ago | 3.62 bp | 11.9 bp −$12 | 25.6 bp −$256 | 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 | −0.0876% | 4h | 193.20 | +0.016% | $582K | $291K | 10x | as long as short |
| Coinbase International SKHY-PERP-INTX | −0.0032% | 1h | 192.90 | −0.140% | $45K | $869K | 10x | as long as short |
| Aster SKHYUSDT | 0.0000% | 8h | 193.27 | +0.052% | $249K | $889K | 50x | as long as short |
| Extended SKHY-USD | 0.0000% | 1h | 193.23 | +0.034% | $56K | $7K | 10x | as long as short |
| Binance SKHYUSDT | 0.0000% | 8h | 193.25 | +0.040% | $205.1M | $392.8M | 50x | as long as short |
| Bybit SKHYUSDT | 0.0000% | 8h | 193.29 | +0.062% | $15.8M | $27.5M | 100x | as long as short |
| OKX SKHY-USDT-SWAP | 0.0000% | 8h | 193.26 | +0.047% | $46.7M | $70.1M | 50x | as long as short |
| Gate SKHY_USDT | 0.0000% | 8h | 193.22 | +0.026% | $25.8M | $19.2M | 75x | as long as short |
| Variational Omni SKHY | 0.0000% | 8h | 193.28 | +0.055% | $1.6M | $1.2M | — | as long as short |
| GRVT SKHY_USDT_Perp | 0.0000% | 8h | 193.24 | +0.036% | $23K | $199K | 10x | as long as short |
edgeX SKHYUSDC
Coinbase International SKHY-PERP-INTX
Aster SKHYUSDT
Extended SKHY-USD
Binance SKHYUSDT
Bybit SKHYUSDT
OKX SKHY-USDT-SWAP
Gate SKHY_USDT
Variational Omni SKHY
GRVT SKHY_USDT_PerpShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX SKHY-USDT | 0.0000% | 8h | 193.57 | +0.207% | $708 | $6.3M | 10x | as long as short |
| HTX SKHY-USDT | 0.0000% | 8h | 193.12 | −0.026% | $161K | $368K | 50x | as long as short |
| Phemex SKHYUSDT | 0.0000% | 8h | 193.29 | +0.062% | $1.5M | $1.1M | 10x | as long as short |
| QFEX SKHY-USD | +0.0004% | 1h | 193.20 | +0.016% | $1.2M | $4.3M | 10x | as long as short |
| Lighter SKHY | +0.0032% | 1h | 193.19 | +0.010% | $1.0M | $696K | 10x | as long as short |
| Lighter RH SKHY | +0.0032% | 1h | 193.18 | +0.005% | $1.1M | $1.6M | 10x | as long as short |
| Arcus SKHY-USD | +0.0040% | 1h | 193.19 | +0.010% | $57K | $154K | 10x | as long as short |
| Vest SKHY-USD-PERP | +0.0046% | 1h | 193.23 | +0.031% | — | $12K | 10x | as long as short |
| Popdex SKHYUSDT | +0.0048% | 1h | 193.29 | +0.062% | $201K | $257K | 20x | as long as short |
| tradeXYZ xyz:SKHYlong | +0.0050% | 1h | 193.17 | long leg | $161.6M | $67.6M | 10x | |
| Polymarket Perps SKHY-USD | +0.0050% | 1h | 193.19 | +0.010% | $189K | $456K | 10x | as long as short |
| SoDEX SKHY-USD | +0.0050% | 1h | 193.24 | +0.036% | $43K | $13K | 10x | as long as short |
| Ondo Perps SKHY-USD.P | +0.0050% | 1h | 193.26 | +0.047% | $575K | $2.3M | 10x | as long as short |
| KuCoin SKHYUSDTM | +0.0100% | 8h | 193.23 | +0.031% | $1.1M | $297K | 20x | as long as short |
| Orderly PERP_SKHY_USDC_mythos | +0.0100% | 8h | 193.27 | +0.052% | $2K | $4K | 10x | as long as short |
| Deribit SKHY_USDC-PERPETUAL | +0.0112% | 1h | 193.33 | +0.083% | $49K | $306K | 10x | as long as short |
| BloFin SKHY-USDT | +0.0120% | 8h | 193.34 | +0.088% | $2.2M | $438K | 50x | as long as short |
| Nado SKHY-PERP | +0.0171% | 1h | 193.26 | +0.045% | $38K | $26K | 10x | as long as short |
| Bitget SKHYUSDT | +0.0201% | 8h | 193.33 | +0.083% | $25.4M | $26.8M | 20x | as long as short |
| Phoenix SKHYshort | +0.0332% | 1h | 193.40 | +0.119% | $217K | $124K | 10x | |
| Kraken Futures PF_SKHYUSD | +0.0545% | 1h | 193.38 | +0.111% | $51K | $17K | 20x | as long as short |
SunX SKHY-USDT
HTX SKHY-USDT
Phemex SKHYUSDT
QFEX SKHY-USD
Lighter SKHY
Lighter RH SKHY
Arcus SKHY-USD
Vest SKHY-USD-PERP
Popdex SKHYUSDT
Polymarket Perps SKHY-USD
SoDEX SKHY-USD
Ondo Perps SKHY-USD.P
KuCoin SKHYUSDTM
Orderly PERP_SKHY_USDC_mythos
Deribit SKHY_USDC-PERPETUAL
BloFin SKHY-USDT
Nado SKHY-PERP
Bitget SKHYUSDT
Kraken Futures PF_SKHYUSD