Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0292%/8h= −32.0% APRpaid last 24h −0.023%

Price spread now: Polymarket Perps against BloFin−0.038%7-day average −0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$260.264% of the position

Long on BloFin Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.196%−$20 on $10k

Price spread, last 4 days (all we have)+0.044%+$4 · spread now −0.038%, 7d avg −0.046%

Together, before fees−0.152%−$15 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.046%, so right now this pair is about funding alone: −$9 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.196% in total (about -10.2% a year). A funding rate is set anew for every payment. 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	BloFin SKHY-USDT	186.59	0.0120	pay 0.0120% / 8h	1h 40m	$2.2M	$419K	50x
Short	Polymarket Perps SKHY-USD	186.52	−0.0172	pay 0.0021% / 1h	40m 52s	$180K	$487K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against BloFin. 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 BloFinbpFee Polymarket PerpsbpOrdersPrice spread, now −0.038%Rate

Funding earned: −$61.3
Price spread: −0.038% → −0.046%: $0.89
Slippage, 4 orders: −$6.42
Fee BloFin: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$86.83
Costs to cover: 0.264%
Break-even: never at this rate

Slippage from BloFin: live order book, 2 min ago; Polymarket Perps: live order book, 2 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 BloFin live order book, 2 min ago	0.54 bp	6.5 bp −$7	7.2 bp −$72	21.2 bp −$2,119	doesn't fit
Sell Polymarket Perps live order book, 2 min ago	2.41 bp	6.9 bp −$7	7.4 bp −$74	10.7 bp −$1,073	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
Bitget SKHYUSDT	−0.1134%	8h	186.74	+0.080%	$25.0M	$31.7M	20x	as long as short
edgeX SKHYUSDC	−0.0246%	4h	187.00	+0.219%	$564K	$292K	10x	as long as short
Nado SKHY-PERP	−0.0186%	1h	186.76	+0.092%	$33K	$28K	10x	as long as short
tradeXYZ xyz:SKHY	−0.0183%	1h	186.58	−0.005%	$158.3M	$74.3M	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	−0.0178%	1h	186.64	+0.027%	$48K	$340K	10x	as long as short
Polymarket Perps SKHY-USDshort	−0.0172%	1h	186.52	−0.038%	$180K	$487K	10x
Popdex SKHYUSDT	−0.0152%	1h	186.60	+0.005%	$197K	$274K	20x	as long as short
Lighter SKHY	−0.0144%	1h	186.56	−0.016%	$962K	$1.1M	10x	as long as short
Kraken Futures PF_SKHYUSD	−0.0139%	1h	186.77	+0.094%	$47K	$19K	20x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0104%	1h	187.75	+0.622%	$63K	$902K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX SKHY-USD	−0.0049%	1h	186.64	+0.027%	$1.2M	$4.1M	10x	as long as short
Ondo Perps SKHY-USD.P	−0.0037%	1h	186.48	−0.059%	$514K	$2.6M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	186.76	+0.092%	$226K	$916K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	186.54	−0.028%	$54K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	186.60	+0.008%	$199.3M	$438.1M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	186.62	+0.016%	$15.8M	$29.3M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	186.58	−0.005%	$44.6M	$77.5M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	186.56	−0.016%	$25.2M	$20.2M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	186.53	−0.031%	$1.6M	$1.0M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	186.65	+0.033%	$22K	$228K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	186.83	+0.129%	$684	$6.1M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	186.48	−0.059%	$155K	$367K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	186.62	+0.016%	$1.5M	$1.1M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	186.53	−0.032%	$1.1M	$1.6M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	186.78	+0.102%	$58K	$165K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	186.73	+0.075%	—	$24K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	186.62	+0.016%	$41K	$13K	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	186.73	+0.075%	$1.1M	$328K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	186.52	−0.038%	$2K	$4K	10x	as long as short
BloFin SKHY-USDTlong	+0.0120%	8h	186.59	long leg	$2.2M	$419K	50x
Phoenix SKHY	+0.0213%	1h	187.04	+0.241%	$210K	$115K	10x	as long as short