Funding you earn now, next payment 01:00 UTC−0.0329%/8h= −36.1% APRnext payment −$0.41 per $10,000 · paid last 24h −0.096%
Price spread now: QFEX against Phoenix−0.057%52s7-day average −0.149% · you buy dearer than you sell
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−$340.344% of the position
Funding, last 3 days (all we have)−0.121%−$12 on $10k
+Price spread, last 4 days (all we have)−2.182%−$218 · spread now −0.057%, 7d avg −0.149%
=The price spread pays, funding is against you. QFEX is 0.092% dearer against Phoenix than usual: you sell high and buy low (spread −0.057% now, against its 7-day average of −0.149%): +$9 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 22 hours. At the pace of the last 3 days (−0.121% in total) that is about 2.6 days. The two prices were read 52 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 | 192.96 | 0.0331 | pay 0.0041% / 1h | 34m 13s | $216K | $123K | 10x |
| Short | QFEX SKHY-USD | 192.85 | 0.0002 | get 0.0000% / 1h | 34m 13s | $1.2M | $4.6M | 10x |
Phoenix SKHY
QFEX SKHY-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX 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
- −$69.16
- Price spread: −0.057% → −0.149%
- $9.21
- Slippage, 4 orders
- −$17.38
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- −$94.32
- Costs to cover
- 0.344%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 28 min ago; QFEX: 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, 28 min ago | 3.10 bp | 10.9 bp −$11 | 22.9 bp −$229 | doesn't fit | doesn't fit |
| Sell QFEX live order book, 4 min ago | 1.30 bp | 6.3 bp −$6 | 7.3 bp −$73 | 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 | −0.0874% | 4h | 192.69 | −0.138% | $581K | $290K | 10x | as long as short |
| Coinbase International SKHY-PERP-INTX | −0.0072% | 1h | 192.90 | −0.031% | $45K | $874K | 10x | as long as short |
| Aster SKHYUSDT | 0.0000% | 8h | 192.85 | −0.055% | $248K | $890K | 50x | as long as short |
| Extended SKHY-USD | 0.0000% | 1h | 192.85 | −0.055% | $56K | $7K | 10x | as long as short |
| Binance SKHYUSDT | 0.0000% | 8h | 192.94 | −0.012% | $210.3M | $384.8M | 50x | as long as short |
| Bybit SKHYUSDT | 0.0000% | 8h | 192.97 | +0.005% | $15.6M | $27.2M | 100x | as long as short |
| OKX SKHY-USDT-SWAP | 0.0000% | 8h | 192.98 | +0.010% | $46.8M | $69.1M | 50x | as long as short |
| Gate SKHY_USDT | 0.0000% | 8h | 192.88 | −0.041% | $25.8M | $18.8M | 75x | as long as short |
| Variational Omni SKHY | 0.0000% | 8h | 192.76 | −0.106% | $1.6M | $2.1M | — | as long as short |
| GRVT SKHY_USDT_Perp | 0.0000% | 8h | 192.71 | −0.128% | $22K | $192K | 10x | as long as short |
edgeX SKHYUSDC
Coinbase International SKHY-PERP-INTX
Aster SKHYUSDT
Extended SKHY-USD
Binance SKHYUSDT
Bybit SKHYUSDT
OKX SKHY-USDT-SWAP
Gate SKHY_USDT
Variational Omni SKHY
GRVT SKHY_USDT_PerpShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX SKHY-USDT | 0.0000% | 8h | 193.19 | +0.119% | $707 | $6.6M | 10x | as long as short |
| Deribit SKHY_USDC-PERPETUAL | 0.0000% | 1h | 192.89 | −0.036% | $48K | $271K | 10x | as long as short |
| HTX SKHY-USDT | 0.0000% | 8h | 192.84 | −0.062% | $160K | $376K | 50x | as long as short |
| Phemex SKHYUSDT | 0.0000% | 8h | 192.95 | −0.005% | $1.5M | $1.1M | 10x | as long as short |
| QFEX SKHY-USDshort | +0.0002% | 1h | 192.85 | −0.057% | $1.2M | $4.6M | 10x | |
| Nado SKHY-PERP | +0.0031% | 1h | 192.89 | −0.036% | $42K | $21K | 10x | as long as short |
| Lighter SKHY | +0.0032% | 1h | 192.81 | −0.078% | $1.0M | $684K | 10x | as long as short |
| Lighter RH SKHY | +0.0032% | 1h | 192.84 | −0.062% | $1.1M | $1.5M | 10x | as long as short |
| Arcus SKHY-USD | +0.0040% | 1h | 192.79 | −0.088% | $57K | $154K | 10x | as long as short |
| Vest SKHY-USD-PERP | +0.0046% | 1h | 192.85 | −0.057% | — | $12K | 10x | as long as short |
| Popdex SKHYUSDT | +0.0048% | 1h | 192.90 | −0.031% | $197K | $257K | 20x | as long as short |
| tradeXYZ xyz:SKHY | +0.0050% | 1h | 192.88 | −0.041% | $163.1M | $65.7M | 10x | as long as short |
| Polymarket Perps SKHY-USD | +0.0050% | 1h | 192.80 | −0.083% | $188K | $456K | 10x | as long as short |
| SoDEX SKHY-USD | +0.0050% | 1h | 192.87 | −0.047% | $43K | $13K | 10x | as long as short |
| Ondo Perps SKHY-USD.P | +0.0050% | 1h | 192.62 | −0.176% | $535K | $1.8M | 10x | as long as short |
| KuCoin SKHYUSDTM | +0.0100% | 8h | 192.83 | −0.067% | $1.1M | $280K | 20x | as long as short |
| Orderly PERP_SKHY_USDC_mythos | +0.0100% | 8h | 192.87 | −0.047% | $2K | $4K | 10x | as long as short |
| Phoenix SKHYlong | +0.0331% | 1h | 192.96 | long leg | $216K | $123K | 10x | |
| Bitget SKHYUSDT | +0.0335% | 8h | 192.93 | −0.016% | $25.5M | $26.3M | 20x | as long as short |
| Kraken Futures PF_SKHYUSD | +0.0706% | 1h | 192.98 | +0.008% | $51K | $17K | 20x | as long as short |
SunX SKHY-USDT
Deribit SKHY_USDC-PERPETUAL
HTX SKHY-USDT
Phemex SKHYUSDT
Nado SKHY-PERP
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
KuCoin SKHYUSDTM
Orderly PERP_SKHY_USDC_mythos
Bitget SKHYUSDT
Kraken Futures PF_SKHYUSD