Funding you earn now, next payment 02:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h −0.013%
Price spread now: Phemex against Coinbase International−0.005%7-day average −0.108% · you buy dearer than you sell
Net, funding: paid 7d − costs−$105as in the Funding arb table
Net, price: spread back to 7d avg − costs−$104as in the Price arb table
costs, in and out, $10k−$1141.144% of the position
Funding, last 7 days+0.090%+$9 on $10k
+Price spread, last 3 days (all we have)+0.017%+$2 · spread now −0.005%, 7d avg −0.108%
=Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Phemex is 0.102% dearer against Coinbase International than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.108%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International SKHY-PERP-INTX | 192.90 | −0.0032 | get 0.0004% / 1h | 49m 57s | $45K | $874K | 10x |
| Short | Phemex SKHYUSDT | 192.89 | 0 | get 0.0000% / 8h | 5h 49m | $1.5M | $1.1M | 10x |
Coinbase International SKHY-PERP-INTX
Phemex SKHYUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Coinbase International. 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
- $6.72
- Price spread: −0.005% → −0.108%
- $10.23
- Slippage, 4 orders
- −$92.42
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$97.47
- Costs to cover
- 1.144%
- Break-even
- 108.5 days
Slippage from Coinbase International: live order book, 13 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 Coinbase International live order book, 13 min ago | 4.41 bp | 9.4 bp −$9 | 14.6 bp −$146 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 3 min ago | 3.63 bp | 44.4 bp −$44 | doesn't fit | doesn't fit | doesn't fit |
SKHY on 30 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 | −0.0107% | 4h | 193.03 | +0.066% | $582K | $290K | 10x | as long as short |
| Coinbase International SKHY-PERP-INTXlong | −0.0032% | 1h | 192.90 | long leg | $45K | $874K | 10x | |
| Aster SKHYUSDT | 0.0000% | 8h | 192.88 | −0.011% | $248K | $890K | 50x | as long as short |
| Extended SKHY-USD | 0.0000% | 1h | 192.91 | +0.005% | $56K | $7K | 10x | as long as short |
| Binance SKHYUSDT | 0.0000% | 8h | 192.94 | +0.022% | $208.4M | $385.2M | 50x | as long as short |
| Bybit SKHYUSDT | 0.0000% | 8h | 192.97 | +0.036% | $15.7M | $27.3M | 100x | as long as short |
| OKX SKHY-USDT-SWAP | 0.0000% | 8h | 193.00 | +0.052% | $46.9M | $69.2M | 50x | as long as short |
| Gate SKHY_USDT | 0.0000% | 8h | 192.91 | +0.005% | $25.8M | $18.9M | 75x | as long as short |
| Variational Omni SKHY | 0.0000% | 8h | 193.08 | +0.092% | $1.6M | $1.3M | — | as long as short |
| GRVT SKHY_USDT_Perp | 0.0000% | 8h | 193.04 | +0.073% | $23K | $194K | 10x | as long as short |
edgeX SKHYUSDC
Aster SKHYUSDT
Extended SKHY-USD
Binance SKHYUSDT
Bybit SKHYUSDT
OKX SKHY-USDT-SWAP
Gate SKHY_USDT
Variational Omni SKHY
GRVT SKHY_USDT_PerpShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX SKHY-USDT | 0.0000% | 8h | 193.23 | +0.171% | $707 | $6.4M | 10x | as long as short |
| HTX SKHY-USDT | 0.0000% | 8h | 192.88 | −0.010% | $160K | $368K | 50x | as long as short |
| Phemex SKHYUSDTshort | 0.0000% | 8h | 192.89 | −0.005% | $1.5M | $1.1M | 10x | |
| QFEX SKHY-USD | +0.0004% | 1h | 193.02 | +0.062% | $1.2M | $4.3M | 10x | as long as short |
| Lighter SKHY | +0.0032% | 1h | 192.80 | −0.052% | $1.0M | $685K | 10x | as long as short |
| Lighter RH SKHY | +0.0032% | 1h | 192.81 | −0.047% | $1.1M | $1.5M | 10x | as long as short |
| Arcus SKHY-USD | +0.0040% | 1h | 193.04 | +0.073% | $57K | $154K | 10x | as long as short |
| Vest SKHY-USD-PERP | +0.0046% | 1h | 193.01 | +0.057% | — | $11K | 10x | as long as short |
| Popdex SKHYUSDT | +0.0048% | 1h | 192.99 | +0.047% | $198K | $255K | 20x | as long as short |
| tradeXYZ xyz:SKHY | +0.0050% | 1h | 192.86 | −0.021% | $162.0M | $66.3M | 10x | as long as short |
| Polymarket Perps SKHY-USD | +0.0050% | 1h | 192.84 | −0.031% | $188K | $456K | 10x | as long as short |
| SoDEX SKHY-USD | +0.0050% | 1h | 192.93 | +0.016% | $43K | $13K | 10x | as long as short |
| Ondo Perps SKHY-USD.P | +0.0050% | 1h | 192.96 | +0.031% | $569K | $2.1M | 10x | as long as short |
| Deribit SKHY_USDC-PERPETUAL | +0.0061% | 1h | 192.96 | +0.031% | $48K | $285K | 10x | as long as short |
| KuCoin SKHYUSDTM | +0.0100% | 8h | 192.93 | +0.016% | $1.1M | $290K | 20x | as long as short |
| Orderly PERP_SKHY_USDC_mythos | +0.0100% | 8h | 192.94 | +0.021% | $2K | $4K | 10x | as long as short |
| Nado SKHY-PERP | +0.0125% | 1h | 193.02 | +0.063% | $38K | $26K | 10x | as long as short |
| Bitget SKHYUSDT | +0.0219% | 8h | 192.94 | +0.021% | $25.6M | $26.4M | 20x | as long as short |
| Phoenix SKHY | +0.0332% | 1h | 193.23 | +0.171% | $216K | $124K | 10x | as long as short |
| Kraken Futures PF_SKHYUSD | +0.0546% | 1h | 193.07 | +0.087% | $51K | $17K | 20x | as long as short |
SunX SKHY-USDT
HTX SKHY-USDT
QFEX SKHY-USD
Lighter SKHY
Lighter RH SKHY
Arcus SKHY-USD
Vest SKHY-USD-PERP
Popdex SKHYUSDT
tradeXYZ xyz:SKHY
Polymarket Perps SKHY-USD
SoDEX SKHY-USD
Ondo Perps SKHY-USD.P
Deribit SKHY_USDC-PERPETUAL
KuCoin SKHYUSDTM
Orderly PERP_SKHY_USDC_mythos
Nado SKHY-PERP
Bitget SKHYUSDT
Phoenix SKHY
Kraken Futures PF_SKHYUSD