SKHY

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0218%/8h= −23.8% APRnext payment −$0.27 per $10,000 · paid last 24h +0.016%

Price spread now: tradeXYZ against Deribit−0.072%51s7-day average −0.039% · 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−$470.470% of the position

Long on Deribit Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.027%+$3 on $10k

Price spread, last 4 days (all we have)+0.195%+$19 · spread now −0.072%, 7d avg −0.039%

Together, before fees+0.222%+ Points / potential airdroptradeXYZ: Active · farm board+$22 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and tradeXYZ is 0.033% cheaper against Deribit than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.039%). Swap the legs. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.027% in total (about 2.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.27 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SKHY_USDC-PERPETUAL	193.32	0.0268	pay 0.0033% / 1h	0m 23s	$49K	$306K	10x
Short	tradeXYZ xyz:SKHY	193.18	0.0050	get 0.0006% / 1h	0m 23s	$161.6M	$67.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against Deribit. 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 DeribitbpFee tradeXYZbpOrdersPrice spread, now −0.072%Rate

Funding earned: −$45.68
Price spread: −0.072% → −0.039%: −$3.3
Slippage, 4 orders: −$22
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$95.98
Costs to cover: 0.470%
Break-even: never at this rate

Slippage from Deribit: live order book, 63 min ago; tradeXYZ: live order book, 10 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 Deribit live order book, 63 min ago	5.96 bp	11.3 bp −$11	13.8 bp −$138	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 10 min ago	0.26 bp	9.3 bp −$9	10.5 bp −$105	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	−0.062%	$582K	$291K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0032%	1h	192.90	−0.217%	$45K	$874K	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	193.24	−0.042%	$249K	$889K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	193.22	−0.052%	$56K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	193.29	−0.016%	$205.1M	$392.7M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	193.30	−0.010%	$15.8M	$27.5M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	193.27	−0.026%	$46.7M	$70.1M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	193.25	−0.036%	$25.8M	$19.2M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	193.28	−0.023%	$1.6M	$1.2M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	193.24	−0.041%	$23K	$199K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX SKHY-USDT	0.0000%	8h	193.59	+0.140%	$709	$6.3M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	193.13	−0.098%	$161K	$368K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	193.31	−0.005%	$1.5M	$1.1M	10x	as long as short
QFEX SKHY-USD	+0.0004%	1h	193.20	−0.062%	$1.2M	$4.3M	10x	as long as short
Lighter SKHY	+0.0032%	1h	193.15	−0.088%	$1.0M	$696K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	193.14	−0.093%	$1.1M	$1.6M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	193.19	−0.067%	$57K	$154K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	193.23	−0.047%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	193.29	−0.016%	$201K	$257K	20x	as long as short
tradeXYZ xyz:SKHYshort	+0.0050%	1h	193.18	−0.072%	$161.6M	$67.6M	10x
Polymarket Perps SKHY-USD	+0.0050%	1h	193.19	−0.067%	$189K	$456K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	193.26	−0.031%	$43K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	193.26	−0.031%	$575K	$2.3M	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	193.22	−0.052%	$1.1M	$297K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	193.27	−0.026%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	193.34	+0.010%	$2.2M	$438K	50x	as long as short
Nado SKHY-PERP	+0.0171%	1h	193.26	−0.033%	$38K	$26K	10x	as long as short
Bitget SKHYUSDT	+0.0201%	8h	193.33	+0.005%	$25.4M	$26.8M	20x	as long as short
Deribit SKHY_USDC-PERPETUALlong	+0.0268%	1h	193.32	long leg	$49K	$306K	10x
Phoenix SKHY	+0.0332%	1h	193.40	+0.041%	$217K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0545%	1h	193.39	+0.035%	$51K	$17K	20x	as long as short