Funding you earn now, next payment 04:00 UTC+0.0325%/8h= +35.6% APRnext payment +$0.41 per $10,000 · paid last 24h +0.080%
Price spread now: Phoenix against Ondo Perps+0.122%48s7-day average +0.165% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.227%+$23 on $10k
+Price spread, last 4 days (all we have)+0.493%+$49 · spread now +0.122%, 7d avg +0.165%
=Together, before fees+0.719%+ Points / potential airdropOndo Perps: Active · farm board+$72 on $10k · with fees, hour by hour
Funding pays, the price is against you. Phoenix is 0.043% cheaper against Ondo Perps than usual: you would sell low and buy high (spread +0.122% now, against its 7-day average of +0.165%). If the spread goes back, that is −$4 on $10k: about 11 hours of funding at the current rate (+$10 a day). At the pace of the last 7 days (+0.227% in total) that is about 32 hours. The two prices were read 48 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 7 days it paid 0.227% in total (about 11.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.41 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 | Ondo Perps SKHY-USD.P | 188.78 | 0.0050 | pay 0.0006% / 1h | 4m 12s | $526K | $2.6M | 10x |
| Short | Phoenix SKHY | 189.01 | 0.0375 | get 0.0047% / 1h | 4m 12s | $212K | $124K | 10x |
Ondo Perps SKHY-USD.P
Phoenix SKHYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Ondo Perps. 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
- $68.24
- Price spread: +0.122% → +0.165%
- −$4.3
- Slippage, 4 orders
- no order book: not counted
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $51.94
- Costs to cover
- 0.120%
- Break-even
- 1.7 days
Slippage unknown: Ondo Perps: no order-book sample; Phoenix: live order book, 43 min ago. Net counts fees only.
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 Ondo Perps no order-book sample | — | — | — | — | — |
| Sell Phoenix live order book, 43 min ago | 3.67 bp | 12.5 bp −$12 | 27.0 bp −$270 | doesn't fit | doesn't fit |
Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget SKHYUSDT | −0.0337% | 8h | 189.13 | +0.185% | $24.4M | $29.4M | 20x | as long as short |
| Coinbase International SKHY-PERP-INTX | −0.0104% | 1h | 189.86 | +0.572% | $36K | $876K | 10x | as long as short |
| edgeX SKHYUSDC | −0.0055% | 4h | 188.56 | −0.116% | $568K | $290K | 10x | as long as short |
| tradeXYZ xyz:SKHY | −0.0016% | 1h | 188.98 | +0.106% | $158.5M | $70.1M | 10x | as long as short |
| Aster SKHYUSDT | 0.0000% | 8h | 189.06 | +0.148% | $244K | $897K | 50x | as long as short |
| Extended SKHY-USD | 0.0000% | 1h | 189.01 | +0.124% | $55K | $7K | 10x | as long as short |
| Binance SKHYUSDT | 0.0000% | 8h | 189.06 | +0.148% | $199.5M | $412.3M | 50x | as long as short |
| Bybit SKHYUSDT | 0.0000% | 8h | 189.05 | +0.143% | $15.4M | $29.1M | 100x | as long as short |
| OKX SKHY-USDT-SWAP | 0.0000% | 8h | 189.05 | +0.143% | $44.8M | $73.8M | 50x | as long as short |
| Gate SKHY_USDT | 0.0000% | 8h | 188.99 | +0.111% | $25.3M | $19.9M | 75x | as long as short |
Bitget SKHYUSDT
Coinbase International SKHY-PERP-INTX
edgeX SKHYUSDC
tradeXYZ xyz:SKHY
Aster SKHYUSDT
Extended SKHY-USD
Binance SKHYUSDT
Bybit SKHYUSDT
OKX SKHY-USDT-SWAP
Gate SKHY_USDTShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni SKHY | 0.0000% | 8h | 188.92 | +0.075% | $1.6M | $1.1M | — | as long as short |
| GRVT SKHY_USDT_Perp | 0.0000% | 8h | 188.81 | +0.018% | $22K | $216K | 10x | as long as short |
| SunX SKHY-USDT | 0.0000% | 8h | 189.24 | +0.244% | $693 | $6.2M | 10x | as long as short |
| Deribit SKHY_USDC-PERPETUAL | 0.0000% | 1h | 189.06 | +0.148% | $48K | $330K | 10x | as long as short |
| HTX SKHY-USDT | 0.0000% | 8h | 188.99 | +0.111% | $157K | $370K | 50x | as long as short |
| Phemex SKHYUSDT | 0.0000% | 8h | 189.08 | +0.159% | $1.5M | $1.1M | 10x | as long as short |
| Lighter SKHY | +0.0008% | 1h | 188.99 | +0.111% | $996K | $747K | 10x | as long as short |
| QFEX SKHY-USD | +0.0011% | 1h | 188.94 | +0.085% | $1.2M | $4.1M | 10x | as long as short |
| Nado SKHY-PERP | +0.0013% | 1h | 188.92 | +0.074% | $33K | $28K | 10x | as long as short |
| Lighter RH SKHY | +0.0032% | 1h | 188.96 | +0.095% | $1.0M | $1.5M | 10x | as long as short |
| Arcus SKHY-USD | +0.0040% | 1h | 188.81 | +0.016% | $58K | $164K | 10x | as long as short |
| Vest SKHY-USD-PERP | +0.0046% | 1h | 188.95 | +0.090% | — | $12K | 10x | as long as short |
| Popdex SKHYUSDT | +0.0048% | 1h | 188.96 | +0.095% | $199K | $258K | 20x | as long as short |
| Polymarket Perps SKHY-USD | +0.0050% | 1h | 188.90 | +0.064% | $182K | $472K | 10x | as long as short |
| SoDEX SKHY-USD | +0.0050% | 1h | 188.92 | +0.074% | $42K | $13K | 10x | as long as short |
| Ondo Perps SKHY-USD.Plong | +0.0050% | 1h | 188.78 | long leg | $526K | $2.6M | 10x | |
| KuCoin SKHYUSDTM | +0.0100% | 8h | 188.97 | +0.101% | $1.1M | $311K | 20x | as long as short |
| Orderly PERP_SKHY_USDC_mythos | +0.0100% | 8h | 189.06 | +0.148% | $2K | $4K | 10x | as long as short |
| BloFin SKHY-USDT | +0.0120% | 8h | 188.87 | +0.048% | $2.2M | $438K | 50x | as long as short |
| Phoenix SKHYshort | +0.0375% | 1h | 189.01 | +0.122% | $212K | $124K | 10x | |
| Kraken Futures PF_SKHYUSD | +0.0693% | 1h | 189.07 | +0.155% | $48K | $19K | 20x | as long as short |
Variational Omni SKHY
GRVT SKHY_USDT_Perp
SunX SKHY-USDT
Deribit SKHY_USDC-PERPETUAL
HTX SKHY-USDT
Phemex SKHYUSDT
Lighter SKHY
QFEX SKHY-USD
Nado SKHY-PERP
Lighter RH SKHY
Arcus SKHY-USD
Vest SKHY-USD-PERP
Popdex SKHYUSDT
Polymarket Perps SKHY-USD
SoDEX SKHY-USD
KuCoin SKHYUSDTM
Orderly PERP_SKHY_USDC_mythos
BloFin SKHY-USDT
Kraken Futures PF_SKHYUSD