Funding you earn now, next payment 00:00 UTC+0.0335%/8h= +36.7% APRpaid last 24h +0.090%
Price spread now: Phoenix against Phemex−0.321%73s7-day average +0.112% · you buy dearer than you sell
Net, funding: paid 7d − costs−$86as 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−$1171.167% of the position
Funding, last 7 days+0.304%+$30 on $10k
+Price spread, last 3 days (all we have)+0.440%+$44 · spread now −0.321%, 7d avg +0.112%
=Funding pays, the price is against you. Phoenix is 0.433% cheaper against Phemex than usual: you would sell low and buy high (spread −0.321% now, against its 7-day average of +0.112%). If the spread goes back, that is −$43 on $10k: about 4.3 days of funding at the current rate (+$10 a day). At the pace of the last 7 days (+0.304% in total) that is about 10.0 days. The two prices were read 73 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 | Phemex SKHYUSDT | 192.97 | 0 | get 0.0000% / 8h | 7h 45m | $1.5M | $1.1M | 10x |
| Short | Phoenix SKHY | 192.35 | 0.0335 | get 0.0042% / 1h | 45m 46s | $217K | $120K | 10x |
Phemex SKHYUSDT
Phoenix SKHYFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Phemex. 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
- $70.4
- Price spread: −0.321% → +0.112%
- −$43.28
- Slippage, 4 orders
- −$97.67
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$89.55
- Costs to cover
- 1.167%
- Break-even
- 15.9 days
Slippage from Phemex: live order book, 2 min ago; Phoenix: live order book, 21 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 Phemex live order book, 2 min ago | 2.33 bp | 60.0 bp −$60 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 21 min ago | 3.15 bp | 11.0 bp −$11 | 23.2 bp −$232 | 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 | −0.0833% | 4h | 192.72 | −0.128% | $581K | $290K | 10x | as long as short |
| Nado SKHY-PERP | −0.0065% | 1h | 193.14 | +0.088% | $29K | $2K | 10x | as long as short |
| Aster SKHYUSDT | 0.0000% | 8h | 192.89 | −0.042% | $256K | $921K | 50x | as long as short |
| Extended SKHY-USD | 0.0000% | 1h | 193.07 | +0.052% | $56K | $6K | 10x | as long as short |
| Binance SKHYUSDT | 0.0000% | 8h | 193.10 | +0.067% | $213.5M | $384.8M | 50x | as long as short |
| Bybit SKHYUSDT | 0.0000% | 8h | 193.13 | +0.083% | $15.9M | $27.4M | 100x | as long as short |
| OKX SKHY-USDT-SWAP | 0.0000% | 8h | 193.13 | +0.083% | $47.3M | $66.7M | 50x | as long as short |
| Gate SKHY_USDT | 0.0000% | 8h | 193.02 | +0.026% | $26.4M | $17.5M | 75x | as long as short |
| Bitget SKHYUSDT | 0.0000% | 8h | 193.03 | +0.031% | $25.8M | $26.6M | 20x | as long as short |
| Variational Omni SKHY | 0.0000% | 8h | 193.22 | +0.127% | $1.6M | $2.3M | — | as long as short |
edgeX SKHYUSDC
Nado SKHY-PERP
Aster SKHYUSDT
Extended SKHY-USD
Binance SKHYUSDT
Bybit SKHYUSDT
OKX SKHY-USDT-SWAP
Gate SKHY_USDT
Bitget SKHYUSDT
Variational Omni SKHYShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX SKHY-USDT | 0.0000% | 8h | 193.46 | +0.254% | $708 | $7.0M | 10x | as long as short |
| HTX SKHY-USDT | 0.0000% | 8h | 193.12 | +0.078% | $160K | $396K | 50x | as long as short |
| Phemex SKHYUSDTlong | 0.0000% | 8h | 192.97 | long leg | $1.5M | $1.1M | 10x | |
| QFEX SKHY-USD | +0.0005% | 1h | 193.18 | +0.109% | $1.2M | $5.3M | 10x | as long as short |
| Lighter SKHY | +0.0032% | 1h | 192.99 | +0.010% | $1.0M | $620K | 10x | as long as short |
| Lighter RH SKHY | +0.0032% | 1h | 192.96 | −0.005% | $1.1M | $1.5M | 10x | as long as short |
| Arcus SKHY-USD | +0.0040% | 1h | 193.04 | +0.036% | $57K | $155K | 10x | as long as short |
| Vest SKHY-USD-PERP | +0.0046% | 1h | 193.21 | +0.124% | — | $13K | 10x | as long as short |
| KuCoin SKHYUSDTM | +0.0047% | 8h | 192.96 | −0.005% | $1.1M | $276K | 20x | as long as short |
| Popdex SKHYUSDT | +0.0048% | 1h | 193.24 | +0.140% | $197K | $256K | 20x | as long as short |
| Ondo Perps SKHY-USD.P | +0.0050% | 1h | 193.16 | +0.098% | $611K | $1.6M | 10x | as long as short |
| Coinbase International SKHY-PERP-INTX | +0.0088% | 1h | 190.51 | −1.275% | $171K | $682K | 10x | as long as short |
| Orderly PERP_SKHY_USDC_mythos | +0.0100% | 8h | 193.19 | +0.114% | $2K | $4K | 10x | as long as short |
| BloFin SKHY-USDT | +0.0120% | 8h | 193.42 | +0.233% | $2.3M | $429K | 50x | as long as short |
| Deribit SKHY_USDC-PERPETUAL | +0.0268% | 1h | 193.26 | +0.150% | $46K | $259K | 10x | as long as short |
| GRVT SKHY_USDT_Perp | +0.0282% | 8h | 192.80 | −0.089% | $23K | $202K | 10x | as long as short |
| Phoenix SKHYshort | +0.0335% | 1h | 192.35 | −0.321% | $217K | $120K | 10x | |
| Polymarket Perps SKHY-USD | +0.0396% | 1h | 193.15 | +0.093% | $200K | $416K | 10x | as long as short |
| tradeXYZ xyz:SKHY | +0.0483% | 1h | 192.97 | 0.000% | $166.8M | $65.2M | 10x | as long as short |
| Kraken Futures PF_SKHYUSD | +0.0708% | 1h | 193.25 | +0.147% | $51K | $25K | 20x | as long as short |
| SoDEX SKHY-USD | +0.1184% | 1h | 193.14 | +0.088% | $43K | $13K | 10x | 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
KuCoin SKHYUSDTM
Popdex SKHYUSDT
Ondo Perps SKHY-USD.P
Coinbase International SKHY-PERP-INTX
Orderly PERP_SKHY_USDC_mythos
BloFin SKHY-USDT
Deribit SKHY_USDC-PERPETUAL
GRVT SKHY_USDT_Perp
Polymarket Perps SKHY-USD
tradeXYZ xyz:SKHY
Kraken Futures PF_SKHYUSD
SoDEX SKHY-USD