SKHY

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0283%/8h= −31.0% APRnext payment −$0.35 per $10,000 · paid last 24h −0.079%

Price spread now: Popdex against Phoenix+0.130%54s7-day average −0.136% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$310.309% of the position

Long on Phoenix Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.068%−$7 on $10k

Price spread, last 4 days (all we have)−2.330%−$233 · spread now +0.130%, 7d avg −0.136%

Together, before fees−2.398%−$240 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Popdex is 0.265% dearer against Phoenix than usual: you sell high and buy low (spread +0.130% now, against its 7-day average of −0.136%): +$27 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 3.1 days. At the pace of the last 3 days (−0.068% in total) that is about 14 days. The two prices were read 54 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 3 days it paid -0.068% in total (about -7.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.35 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	Phoenix SKHY	192.48	0.0331	pay 0.0041% / 1h	13m 41s	$216K	$123K	10x
Short	Popdex SKHYUSDT	192.73	0.0048	get 0.0006% / 1h	13m 41s	$198K	$256K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now +0.130%Rate

Funding earned: −$59.4
Price spread: +0.130% → −0.136%: $26.55
Slippage, 4 orders: −$17.45
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$63.7
Costs to cover: 0.309%
Break-even: never at this rate

Slippage from Phoenix: live order book, 48 min ago; Popdex: live order book, 55 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, 48 min ago	3.10 bp	10.9 bp −$11	22.9 bp −$229	doesn't fit	doesn't fit
Sell Popdex live order book, 55 min ago	0.78 bp	4.7 bp −$5	8.2 bp −$82	doesn't fit	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	−0.0382%	4h	192.39	−0.049%	$580K	$291K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0072%	1h	192.90	+0.218%	$45K	$874K	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	192.70	+0.115%	$248K	$890K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	192.61	+0.068%	$56K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	192.67	+0.099%	$208.8M	$386.2M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	192.70	+0.114%	$15.7M	$27.3M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	192.68	+0.104%	$46.7M	$69.1M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	192.65	+0.088%	$25.8M	$18.9M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	192.55	+0.036%	$1.6M	$1.9M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	192.44	−0.023%	$22K	$192K	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	193.04	+0.291%	$707	$6.5M	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	0.0000%	1h	192.75	+0.140%	$48K	$272K	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	192.70	+0.114%	$160K	$369K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	192.77	+0.151%	$1.5M	$1.1M	10x	as long as short
QFEX SKHY-USD	+0.0002%	1h	192.66	+0.094%	$1.2M	$4.4M	10x	as long as short
Lighter SKHY	+0.0032%	1h	192.57	+0.047%	$1.0M	$689K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	192.58	+0.052%	$1.1M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	192.59	+0.057%	$57K	$155K	10x	as long as short
Nado SKHY-PERP	+0.0042%	1h	192.73	+0.129%	$38K	$26K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	192.67	+0.099%	—	$12K	10x	as long as short
Popdex SKHYUSDTshort	+0.0048%	1h	192.73	+0.130%	$198K	$256K	20x
tradeXYZ xyz:SKHY	+0.0050%	1h	192.63	+0.078%	$162.1M	$66.4M	10x	as long as short
Polymarket Perps SKHY-USD	+0.0050%	1h	192.64	+0.083%	$188K	$456K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	192.68	+0.104%	$43K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	192.67	+0.099%	$531K	$1.9M	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	192.67	+0.099%	$1.1M	$285K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	192.72	+0.125%	$2K	$4K	10x	as long as short
Bitget SKHYUSDT	+0.0246%	8h	192.73	+0.130%	$25.5M	$26.4M	20x	as long as short
Phoenix SKHYlong	+0.0331%	1h	192.48	long leg	$216K	$123K	10x
Kraken Futures PF_SKHYUSD	+0.0707%	1h	192.86	+0.198%	$51K	$17K	20x	as long as short