Funding you earn now, next payment 03:00 UTC−0.0372%/8h= −40.8% APRpaid last 24h −0.095%
Price spread now: OKX against Phoenix−0.098%76s7-day average −0.148% · you buy dearer than you sell
Net, funding: paid 7d − costs−$60as 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−$310.314% of the position
Funding, last 7 days−0.287%−$29 on $10k
+Price spread, last 4 days (all we have)−0.760%−$76 · spread now −0.098%, 7d avg −0.148%
=The price spread pays, funding is against you. OKX is 0.050% dearer against Phoenix than usual: you sell high and buy low (spread −0.098% now, against its 7-day average of −0.148%): +$5 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 11 hours. At the pace of the last 7 days (−0.287% in total) that is about 29 hours. The two prices were read 76 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 | Phoenix SKHY | 193.21 | 0.0372 | pay 0.0047% / 1h | 10m 09s | $216K | $124K | 10x |
| Short | OKX SKHY-USDT-SWAP | 193.02 | 0 | get 0.0000% / 8h | 4h 10m | $46.8M | $70.1M | 50x |
Phoenix SKHY
OKX SKHY-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX against Phoenix. 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
- −$78.18
- Price spread: −0.098% → −0.148%
- $4.97
- Slippage, 4 orders
- −$14.38
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$104.59
- Costs to cover
- 0.314%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 42 min ago; OKX: live order book, 4 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 Phoenix live order book, 42 min ago | 2.59 bp | 9.9 bp −$10 | 20.2 bp −$202 | doesn't fit | doesn't fit |
| Sell OKX live order book, 4 min ago | 0.26 bp | 5.3 bp −$5 | 6.9 bp −$69 | 39.5 bp −$3,951 | 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 | −0.0839% | 4h | 192.88 | −0.169% | $581K | $292K | 10x | as long as short |
| Coinbase International SKHY-PERP-INTX | −0.0048% | 1h | 192.84 | −0.192% | $45K | $861K | 10x | as long as short |
| Aster SKHYUSDT | 0.0000% | 8h | 193.05 | −0.082% | $249K | $889K | 50x | as long as short |
| Extended SKHY-USD | 0.0000% | 1h | 193.00 | −0.108% | $56K | $7K | 10x | as long as short |
| Binance SKHYUSDT | 0.0000% | 8h | 193.04 | −0.088% | $203.7M | $394.4M | 50x | as long as short |
| Bybit SKHYUSDT | 0.0000% | 8h | 193.05 | −0.083% | $15.7M | $27.7M | 100x | as long as short |
| OKX SKHY-USDT-SWAPshort | 0.0000% | 8h | 193.02 | −0.098% | $46.8M | $70.1M | 50x | |
| Gate SKHY_USDT | 0.0000% | 8h | 193.00 | −0.109% | $25.8M | $18.9M | 75x | as long as short |
| Variational Omni SKHY | 0.0000% | 8h | 192.95 | −0.135% | $1.6M | $1.1M | — | as long as short |
| GRVT SKHY_USDT_Perp | 0.0000% | 8h | 192.92 | −0.150% | $23K | $205K | 10x | as long as short |
edgeX SKHYUSDC
Coinbase International SKHY-PERP-INTX
Aster SKHYUSDT
Extended SKHY-USD
Binance SKHYUSDT
Bybit SKHYUSDT
Gate SKHY_USDT
Variational Omni SKHY
GRVT SKHY_USDT_PerpShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX SKHY-USDT | 0.0000% | 8h | 193.32 | +0.057% | $708 | $6.2M | 10x | as long as short |
| HTX SKHY-USDT | 0.0000% | 8h | 192.99 | −0.114% | $161K | $369K | 50x | as long as short |
| Phemex SKHYUSDT | 0.0000% | 8h | 193.06 | −0.078% | $1.5M | $1.1M | 10x | as long as short |
| QFEX SKHY-USD | +0.0015% | 1h | 192.98 | −0.119% | $1.2M | $3.9M | 10x | as long as short |
| Lighter SKHY | +0.0032% | 1h | 192.94 | −0.140% | $1.0M | $698K | 10x | as long as short |
| Lighter RH SKHY | +0.0032% | 1h | 192.92 | −0.150% | $1.1M | $1.6M | 10x | as long as short |
| Arcus SKHY-USD | +0.0040% | 1h | 193.03 | −0.093% | $60K | $161K | 10x | as long as short |
| Vest SKHY-USD-PERP | +0.0046% | 1h | 192.98 | −0.119% | — | $12K | 10x | as long as short |
| Popdex SKHYUSDT | +0.0048% | 1h | 193.07 | −0.072% | $202K | $256K | 20x | as long as short |
| tradeXYZ xyz:SKHY | +0.0050% | 1h | 192.97 | −0.124% | $161.3M | $67.9M | 10x | as long as short |
| Polymarket Perps SKHY-USD | +0.0050% | 1h | 192.96 | −0.129% | $189K | $456K | 10x | as long as short |
| SoDEX SKHY-USD | +0.0050% | 1h | 192.98 | −0.119% | $43K | $13K | 10x | as long as short |
| Ondo Perps SKHY-USD.P | +0.0050% | 1h | 192.90 | −0.160% | $577K | $2.4M | 10x | as long as short |
| Deribit SKHY_USDC-PERPETUAL | +0.0061% | 1h | 193.07 | −0.072% | $49K | $322K | 10x | as long as short |
| KuCoin SKHYUSDTM | +0.0100% | 8h | 193.00 | −0.109% | $1.1M | $316K | 20x | as long as short |
| Orderly PERP_SKHY_USDC_mythos | +0.0100% | 8h | 193.05 | −0.083% | $2K | $4K | 10x | as long as short |
| BloFin SKHY-USDT | +0.0120% | 8h | 193.06 | −0.078% | $2.3M | $438K | 50x | as long as short |
| Bitget SKHYUSDT | +0.0134% | 8h | 193.09 | −0.062% | $25.2M | $26.9M | 20x | as long as short |
| Nado SKHY-PERP | +0.0149% | 1h | 193.03 | −0.094% | $38K | $26K | 10x | as long as short |
| Phoenix SKHYlong | +0.0372% | 1h | 193.21 | long leg | $216K | $124K | 10x | |
| Kraken Futures PF_SKHYUSD | +0.1058% | 1h | 193.08 | −0.065% | $49K | $19K | 20x | as long as short |
SunX SKHY-USDT
HTX SKHY-USDT
Phemex SKHYUSDT
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
BloFin SKHY-USDT
Bitget SKHYUSDT
Nado SKHY-PERP
Kraken Futures PF_SKHYUSD