Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h +0.016%

Price spread now: OKX against Polymarket Perps+0.026%47s7-day average +0.080% · you sell dearer than you buy

Net, funding: paid 7d − costs−$24as 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−$240.236% of the position

Long on Polymarket Perps Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.007%−$1 on $10k

Price spread, last 7 days+0.137%+$14 · spread now +0.026%, 7d avg +0.080%

Together, before fees+0.130%+$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and OKX is 0.054% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.080%). Swap the legs. The two prices were read 47 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	189.56	0.0050	pay 0.0006% / 1h	15m 50s	$170K	$952K	10x
Short	OKX SKHY-USDT-SWAP	189.61	0	get 0.0000% / 8h	15m 50s	$47.1M	$61.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.026%Rate

Funding earned: −$10.5
Price spread: +0.026% → +0.080%: −$5.38
Slippage, 4 orders: −$5.59
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$39.47
Costs to cover: 0.236%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 62 min ago; OKX: live order book, 3 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, 62 min ago	1.32 bp	5.3 bp −$5	7.5 bp −$75	9.9 bp −$992	doesn't fit
Sell OKX live order book, 3 min ago	0.26 bp	6.4 bp −$6	7.2 bp −$72	41.6 bp −$4,158	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	−0.0826%	4h	189.63	+0.036%	$572K	$290K	10x	as long as short
Nado SKHY-PERP	−0.0042%	1h	189.68	+0.064%	$28K	$2K	10x	as long as short
QFEX SKHY-USD	0.0000%	1h	189.60	+0.021%	$1.2M	$5.3M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	189.65	+0.049%	$252K	$903K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	189.59	+0.015%	$55K	$4K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	189.60	+0.020%	$212.1M	$377.9M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	189.65	+0.047%	$15.7M	$27.0M	100x	as long as short
OKX SKHY-USDT-SWAPshort	0.0000%	8h	189.61	+0.026%	$47.1M	$61.2M	50x
Gate SKHY_USDT	0.0000%	8h	189.60	+0.021%	$26.1M	$17.8M	75x	as long as short
Bitget SKHYUSDT	0.0000%	8h	189.65	+0.047%	$25.4M	$25.7M	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SKHY	0.0000%	8h	189.62	+0.030%	$1.6M	$2.5M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	189.67	+0.058%	$22K	$208K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	189.90	+0.179%	$695	$7.2M	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	0.0000%	1h	189.63	+0.037%	$46K	$258K	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	189.64	+0.042%	$155K	$401K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	189.61	+0.026%	$1.5M	$1.1M	10x	as long as short
KuCoin SKHYUSDTM	+0.0012%	8h	189.54	−0.011%	$1.1M	$283K	20x	as long as short
Lighter SKHY	+0.0032%	1h	189.54	−0.011%	$1.0M	$689K	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	189.53	−0.016%	$1.1M	$1.4M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	189.65	+0.047%	$56K	$155K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	189.61	+0.026%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	189.62	+0.032%	$202K	$241K	20x	as long as short
tradeXYZ xyz:SKHY	+0.0050%	1h	189.59	+0.016%	$164.5M	$65.2M	10x	as long as short
Polymarket Perps SKHY-USDlong	+0.0050%	1h	189.56	long leg	$170K	$952K	10x
SoDEX SKHY-USD	+0.0050%	1h	189.59	+0.016%	$42K	$13K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	189.52	−0.021%	$558K	$1.2M	10x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	189.62	+0.032%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	189.67	+0.058%	$2.2M	$415K	50x	as long as short
Coinbase International SKHY-PERP-INTX	+0.0128%	1h	189.72	+0.084%	$169K	$687K	10x	as long as short
Phoenix SKHY	+0.0380%	1h	189.87	+0.164%	$214K	$128K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0951%	1h	189.67	+0.057%	$50K	$24K	20x	as long as short