SKHY

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0282%/8h= −30.9% APRnext payment −$0.35 per $10,000 · paid last 24h −0.079%

Price spread now: Polymarket Perps against Phoenix−0.357%59s7-day average −0.166% · you buy dearer than you sell

Net, funding: paid 7d − costs−$66as 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−$380.384% of the position

Long on Phoenix Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.277%−$28 on $10k

Price spread, last 4 days (all we have)−0.571%−$57 · spread now −0.357%, 7d avg −0.166%

Together, before fees−0.848%−$85 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Polymarket Perps is 0.191% cheaper against Phoenix than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of −0.166%). Swap the legs. The two prices were read 59 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	193.23	0.0332	pay 0.0042% / 1h	48m 24s	$216K	$124K	10x
Short	Polymarket Perps SKHY-USD	192.54	0.0050	get 0.0006% / 1h	48m 24s	$188K	$456K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Phoenix. 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 PhoenixbpFee Polymarket PerpsbpOrdersPrice spread, now −0.357%Rate

Funding earned: −$59.22
Price spread: −0.357% → −0.166%: −$19.09
Slippage, 4 orders: −$23.39
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$116.71
Costs to cover: 0.384%
Break-even: never at this rate

Slippage from Phoenix: live order book, 9 min ago; Polymarket Perps: live order book, 14 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, 9 min ago	3.62 bp	11.9 bp −$12	25.6 bp −$256	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 14 min ago	2.85 bp	6.9 bp −$7	7.3 bp −$73	10.1 bp −$1,009	doesn't fit

SKHY on 30 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	−0.0107%	4h	193.03	−0.104%	$582K	$290K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0032%	1h	192.90	−0.171%	$45K	$874K	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	192.57	−0.343%	$248K	$890K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	192.56	−0.348%	$56K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	192.61	−0.320%	$208.0M	$385.4M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	192.64	−0.305%	$15.7M	$27.3M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	192.64	−0.305%	$46.8M	$69.1M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	192.60	−0.326%	$25.8M	$18.9M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	193.08	−0.079%	$1.6M	$1.3M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	193.09	−0.072%	$22K	$193K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX SKHY-USDT	0.0000%	8h	192.89	−0.176%	$706	$6.4M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	192.80	−0.223%	$160K	$368K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	192.98	−0.129%	$1.5M	$1.1M	10x	as long as short
QFEX SKHY-USD	+0.0004%	1h	192.57	−0.342%	$1.2M	$4.3M	10x	as long as short
Lighter SKHY	+0.0032%	1h	192.40	−0.430%	$1.0M	$687K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	192.43	−0.414%	$1.1M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	192.89	−0.176%	$57K	$154K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	192.65	−0.300%	—	$11K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	192.62	−0.316%	$198K	$255K	20x	as long as short
tradeXYZ xyz:SKHY	+0.0050%	1h	192.53	−0.362%	$161.7M	$66.4M	10x	as long as short
Polymarket Perps SKHY-USDshort	+0.0050%	1h	192.54	−0.357%	$188K	$456K	10x
SoDEX SKHY-USD	+0.0050%	1h	192.61	−0.321%	$43K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	192.77	−0.238%	$569K	$2.1M	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	192.63	−0.311%	$1.1M	$290K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	192.62	−0.316%	$2K	$4K	10x	as long as short
Nado SKHY-PERP	+0.0132%	1h	192.53	−0.362%	$38K	$26K	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	+0.0165%	1h	192.65	−0.300%	$48K	$285K	10x	as long as short
Bitget SKHYUSDT	+0.0216%	8h	192.80	−0.223%	$25.6M	$26.4M	20x	as long as short
Phoenix SKHYlong	+0.0332%	1h	193.23	long leg	$216K	$124K	10x
Kraken Futures PF_SKHYUSD	+0.0547%	1h	192.68	−0.284%	$51K	$17K	20x	as long as short