Funding you earn now, next payment 10:00 UTC+0.0223%/8h= +24.4% APRnext payment +$0.28 per $10,000 · paid last 24h +0.082%
Price spread now: Phoenix against Lighter+0.389%104s7-day average +0.186% · you sell dearer than you buy
Net, funding: paid 7d − costs+$6as 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−$270.271% of the position
Funding, last 7 days+0.327%+$33 on $10k
+Price spread, last 4 days (all we have)+0.314%+$31 · spread now +0.389%, 7d avg +0.186%
=Together, before fees+0.641%+ Points / potential airdropLighter: Season 3 · farm board+$64 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Phoenix is 0.202% dearer against Lighter than usual: you sell high and buy low: +$20 more if the spread goes back to its 7-day average of +0.186%. The two prices were read 104 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 | Lighter SKHY | 187.73 | 0.0032 | pay 0.0004% / 1h | 43m 38s | $987K | $1.3M | 10x |
| Short | Phoenix SKHY | 188.46 | 0.0255 | get 0.0032% / 1h | 43m 38s | $211K | $123K | 10x |
Lighter SKHY
Phoenix SKHYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Lighter. 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
- $46.79
- Price spread: +0.389% → +0.186%
- $20.24
- Slippage, 4 orders
- −$20.07
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $39.97
- Costs to cover
- 0.271%
- Break-even
- 1.0 days
Slippage from Lighter: live order book, 5 min ago; Phoenix: live order book, 63 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 Lighter live order book, 5 min ago | 0.53 bp | 0.7 bp −$1 | 2.5 bp −$25 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 63 min ago | 3.76 bp | 12.7 bp −$13 | 27.3 bp −$273 | doesn't fit | doesn't fit |
SKHY on 31 exchanges
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 | −0.0781% | 4h | 187.75 | +0.008% | $566K | $287K | 10x | as long as short |
| Bitget SKHYUSDT | −0.0541% | 8h | 187.83 | +0.053% | $26.1M | $36.5M | 20x | as long as short |
| Kraken Futures PF_SKHYUSD | −0.0267% | 1h | 187.30 | −0.228% | $51K | $37K | 20x | as long as short |
| KuCoin SKHYUSDTM | −0.0117% | 8h | 187.78 | +0.027% | $1.1M | $478K | 20x | as long as short |
| Nado SKHY-PERP | −0.0085% | 1h | 187.80 | +0.039% | $32K | $28K | 10x | as long as short |
| Deribit SKHY_USDC-PERPETUAL | −0.0069% | 1h | 187.75 | +0.011% | $41K | $475K | 10x | as long as short |
| tradeXYZ xyz:SKHY | −0.0053% | 1h | 187.75 | +0.011% | $158.6M | $78.1M | 10x | as long as short |
| Coinbase International SKHY-PERP-INTX | −0.0040% | 1h | 187.65 | −0.043% | $110K | $768K | 10x | as long as short |
| QFEX SKHY-USD | −0.0013% | 1h | 187.75 | +0.011% | $1.2M | $4.3M | 10x | as long as short |
| Aster SKHYUSDT | 0.0000% | 8h | 187.93 | +0.105% | $263K | $913K | 50x | as long as short |
edgeX SKHYUSDC
Bitget SKHYUSDT
Kraken Futures PF_SKHYUSD
KuCoin SKHYUSDTM
Nado SKHY-PERP
Deribit SKHY_USDC-PERPETUAL
tradeXYZ xyz:SKHY
Coinbase International SKHY-PERP-INTX
QFEX SKHY-USD
Aster SKHYUSDTShow all 31 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended SKHY-USD | 0.0000% | 1h | 187.74 | +0.004% | $55K | $7K | 10x | as long as short |
| Binance SKHYUSDT | 0.0000% | 8h | 187.82 | +0.048% | $198.2M | $473.6M | 50x | as long as short |
| Bybit SKHYUSDT | 0.0000% | 8h | 187.79 | +0.032% | $16.5M | $34.3M | 100x | as long as short |
| OKX SKHY-USDT-SWAP | 0.0000% | 8h | 187.80 | +0.037% | $44.5M | $85.6M | 50x | as long as short |
| Gate SKHY_USDT | 0.0000% | 8h | 187.71 | −0.011% | $25.3M | $21.7M | 75x | as long as short |
| Variational Omni SKHY | 0.0000% | 8h | 187.84 | +0.057% | $1.5M | $1.1M | — | as long as short |
| GRVT SKHY_USDT_Perp | 0.0000% | 8h | 188.11 | +0.202% | $23K | $247K | 10x | as long as short |
| SunX SKHY-USDT | 0.0000% | 8h | 187.98 | +0.133% | $688 | $5.5M | 10x | as long as short |
| HTX SKHY-USDT | 0.0000% | 8h | 187.72 | −0.005% | $155K | $376K | 50x | as long as short |
| Phemex SKHYUSDT | 0.0000% | 8h | 187.80 | +0.037% | $1.5M | $1.1M | 10x | as long as short |
| Lighter SKHYlong | +0.0032% | 1h | 187.73 | long leg | $987K | $1.3M | 10x | |
| Lighter RH SKHY | +0.0032% | 1h | 187.68 | −0.027% | $1.1M | $1.5M | 10x | as long as short |
| Arcus SKHY-USD | +0.0040% | 1h | 187.77 | +0.021% | $60K | $131K | 10x | as long as short |
| Vest SKHY-USD-PERP | +0.0046% | 1h | 187.73 | 0.000% | — | $39K | 10x | as long as short |
| Popdex SKHYUSDT | +0.0048% | 1h | 187.83 | +0.053% | $203K | $308K | 20x | as long as short |
| Polymarket Perps SKHY-USD | +0.0050% | 1h | 187.67 | −0.032% | $182K | $353K | 10x | as long as short |
| SoDEX SKHY-USD | +0.0050% | 1h | 187.73 | 0.000% | $41K | $12K | 10x | as long as short |
| Ondo Perps SKHY-USD.P | +0.0050% | 1h | 187.59 | −0.075% | $525K | $2.5M | 10x | as long as short |
| Orderly PERP_SKHY_USDC_mythos | +0.0100% | 8h | 187.73 | 0.000% | $2K | $4K | 10x | as long as short |
| BloFin SKHY-USDT | +0.0120% | 8h | 187.77 | +0.021% | $2.2M | $481K | 50x | as long as short |
| Phoenix SKHYshort | +0.0255% | 1h | 188.46 | +0.389% | $211K | $123K | 10x |
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
Popdex SKHYUSDT
Polymarket Perps SKHY-USD
SoDEX SKHY-USD
Ondo Perps SKHY-USD.P
Orderly PERP_SKHY_USDC_mythos
BloFin SKHY-USDT