Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0212%/8h= +23.3% APRpaid last 24h −0.010%

Price spread now: SunX against Polymarket Perps+0.236%7-day average +0.182% · you sell dearer than you buy

Net, funding: paid 7d − costs−$138as in the Funding arb table

Net, price: spread back to 7d avg − costs−$129as in the Price arb table

costs, in and out, $10k−$1351.348% of the position

Long on Polymarket Perps Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.035%−$4 on $10k

Price spread, last 4 days (all we have)−0.107%−$11 · spread now +0.236%, 7d avg +0.182%

Together, before fees−0.143%−$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and SunX is 0.054% dearer against Polymarket Perps than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.182%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.035% in total (about -1.8% 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	Polymarket Perps SKHY-USD	186.25	−0.0212	get 0.0027% / 1h	49m 46s	$180K	$487K	10x
Short	SunX SKHY-USDT	186.69	0	get 0.0000% / 8h	49m 46s	$683	$6.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.236%Rate

Funding earned: $44.6
Price spread: +0.236% → +0.182%: $5.41
Slippage, 4 orders: −$118.76
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee SunX: 4 bp × 2 orders: −$8
Net: −$84.75
Costs to cover: 1.348%
Break-even: 20.3 days

Slippage from Polymarket Perps: live order book, 53 min ago; SunX: live order book, 9 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, 53 min ago	2.41 bp	6.4 bp −$6	8.1 bp −$81	12.0 bp −$1,198	doesn't fit
Sell SunX live order book, 9 min ago	29.56 bp	73.3 bp −$73	doesn't fit	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
Bitget SKHYUSDT	−0.1377%	8h	186.65	+0.215%	$25.4M	$32.9M	20x	as long as short
edgeX SKHYUSDC	−0.0889%	4h	186.25	−0.002%	$561K	$290K	10x	as long as short
Popdex SKHYUSDT	−0.0312%	1h	186.39	+0.075%	$205K	$287K	20x	as long as short
tradeXYZ xyz:SKHY	−0.0299%	1h	186.56	+0.166%	$158.6M	$76.9M	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	−0.0286%	1h	186.53	+0.150%	$49K	$346K	10x	as long as short
Kraken Futures PF_SKHYUSD	−0.0266%	1h	186.51	+0.141%	$48K	$21K	20x	as long as short
Nado SKHY-PERP	−0.0233%	1h	186.51	+0.142%	$33K	$28K	10x	as long as short
Polymarket Perps SKHY-USDlong	−0.0212%	1h	186.25	long leg	$180K	$487K	10x
Lighter SKHY	−0.0096%	1h	186.54	+0.156%	$976K	$1.2M	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0072%	1h	187.58	+0.714%	$68K	$905K	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	−0.0061%	1h	186.37	+0.064%	$1.2M	$4.3M	10x	as long as short
Ondo Perps SKHY-USD.P	−0.0044%	1h	186.24	−0.005%	$520K	$2.6M	10x	as long as short
KuCoin SKHYUSDTM	−0.0015%	8h	186.45	+0.107%	$1.1M	$326K	20x	as long as short
Aster SKHYUSDT	0.0000%	8h	186.68	+0.233%	$224K	$925K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	186.51	+0.137%	$54K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	186.60	+0.189%	$200.5M	$450.0M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	186.60	+0.188%	$16.7M	$29.6M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	186.49	+0.129%	$44.5M	$79.1M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	186.52	+0.145%	$25.5M	$20.9M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	186.25	−0.001%	$1.6M	$1.0M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	186.21	−0.023%	$22K	$232K	10x	as long as short
SunX SKHY-USDTshort	0.0000%	8h	186.69	+0.236%	$683	$6.1M	10x
HTX SKHY-USDT	0.0000%	8h	186.42	+0.091%	$155K	$363K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	186.53	+0.150%	$1.5M	$1.1M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	186.48	+0.123%	$1.1M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	186.22	−0.016%	$60K	$171K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	186.40	+0.081%	—	$32K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	186.35	+0.054%	$41K	$12K	10x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	186.46	+0.113%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	186.32	+0.038%	$2.2M	$423K	50x	as long as short
Phoenix SKHY	+0.0129%	1h	186.38	+0.070%	$209K	$123K	10x	as long as short