SKHY

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0285%/8h= +31.2% APRnext payment +$0.36 per $10,000 · paid last 24h +0.078%

Price spread now: Phoenix against Polymarket Perps−0.047%59s7-day average +0.167% · you buy dearer than you sell

Net, funding: paid 7d − costs−$8as 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−$360.358% of the position

Long on Polymarket Perps Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.273%+$27 on $10k

Price spread, last 3 days (all we have)+0.267%+$27 · spread now −0.047%, 7d avg +0.167%

Together, before fees+0.540%+$54 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.213% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread −0.047% now, against its 7-day average of +0.167%). If the spread goes back, that is −$21 on $10k: about 2.5 days of funding at the current rate (+$9 a day). At the pace of the last 7 days (+0.273% in total) that is about 5.5 days. 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	Polymarket Perps SKHY-USD	193.42	0.0050	pay 0.0006% / 1h	22m 00s	$191K	$454K	10x
Short	Phoenix SKHY	193.33	0.0335	get 0.0042% / 1h	22m 00s	$218K	$120K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Polymarket Perps. 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 Polymarket PerpsbpFee PhoenixbpOrdersPrice spread, now −0.047%Rate

Funding earned: $59.9
Price spread: −0.047% → +0.167%: −$21.31
Slippage, 4 orders: −$20.81
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $2.78
Costs to cover: 0.358%
Break-even: 6.7 days

Slippage from Polymarket Perps: live order book, 51 min ago; Phoenix: live order book, 45 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 Polymarket Perps live order book, 51 min ago	2.64 bp	6.6 bp −$7	8.9 bp −$89	12.1 bp −$1,213	doesn't fit
Sell Phoenix live order book, 45 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	−0.0274%	4h	193.27	−0.076%	$583K	$289K	10x	as long as short
Nado SKHY-PERP	−0.0002%	1h	193.47	+0.028%	$29K	$2K	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	193.29	−0.066%	$249K	$921K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	193.47	+0.024%	$56K	$6K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	193.56	+0.072%	$212.4M	$383.3M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	193.64	+0.114%	$15.7M	$27.1M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	193.62	+0.103%	$47.0M	$68.0M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	193.52	+0.052%	$25.9M	$18.4M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	193.27	−0.076%	$1.6M	$2.3M	—	as long as short
SunX SKHY-USDT	0.0000%	8h	193.78	+0.186%	$709	$6.8M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit SKHY_USDC-PERPETUAL	0.0000%	1h	193.52	+0.052%	$47K	$268K	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	193.46	+0.021%	$160K	$386K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	193.44	+0.010%	$1.5M	$1.1M	10x	as long as short
QFEX SKHY-USD	+0.0005%	1h	193.44	+0.010%	$1.2M	$4.9M	10x	as long as short
Lighter SKHY	+0.0032%	1h	193.41	−0.005%	$1.0M	$677K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	193.40	−0.010%	$1.1M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	193.19	−0.119%	$57K	$153K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	193.43	+0.005%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	193.47	+0.026%	$197K	$256K	20x	as long as short
Polymarket Perps SKHY-USDlong	+0.0050%	1h	193.42	long leg	$191K	$454K	10x
Ondo Perps SKHY-USD.P	+0.0050%	1h	193.26	−0.083%	$555K	$1.7M	10x	as long as short
tradeXYZ xyz:SKHY	+0.0059%	1h	193.51	+0.047%	$164.6M	$65.6M	10x	as long as short
Coinbase International SKHY-PERP-INTX	+0.0088%	1h	192.17	−0.646%	$117K	$795K	10x	as long as short
SoDEX SKHY-USD	+0.0095%	1h	193.40	−0.010%	$43K	$13K	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	193.40	−0.010%	$1.1M	$277K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	193.50	+0.041%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	193.36	−0.031%	$2.2M	$446K	50x	as long as short
Bitget SKHYUSDT	+0.0229%	8h	193.40	−0.010%	$25.7M	$26.7M	20x	as long as short
Phoenix SKHYshort	+0.0335%	1h	193.33	−0.047%	$218K	$120K	10x
GRVT SKHY_USDT_Perp	+0.0554%	8h	193.28	−0.073%	$23K	$195K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0707%	1h	193.61	+0.097%	$51K	$21K	20x	as long as short