Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0996%/8h= −109.0% APRpaid last 24h −0.015%

Price spread now: Bitget against Polymarket Perps+0.166%7-day average +0.083% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$310.307% of the position

Long on Polymarket Perps Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 7 days−0.023%−$2 · spread now +0.166%, 7d avg +0.083%

Together, before fees−0.021%−$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.083% dearer against Polymarket Perps than usual: you sell high and buy low (spread +0.166% now, against its 7-day average of +0.083%): +$8 on $10k if it goes back. Holding the pair costs −$30 a day in funding at the current rate, which eats that in about 7 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.002% in total (about 0.1% 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	186.36	−0.0064	get 0.0008% / 1h	26m 28s	$180K	$487K	10x
Short	Bitget SKHYUSDT	186.67	−0.1060	pay 0.1060% / 8h	2h 26m	$24.7M	$30.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.166%Rate

Funding earned: −$209.11
Price spread: +0.166% → +0.083%: $8.33
Slippage, 4 orders: −$10.7
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$231.48
Costs to cover: 0.307%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 21 min ago; Bitget: 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 Polymarket Perps live order book, 21 min ago	2.12 bp	7.7 bp −$8	8.6 bp −$86	12.2 bp −$1,217	doesn't fit
Sell Bitget live order book, 2 min ago	0.27 bp	8.1 bp −$8	15.9 bp −$159	27.9 bp −$2,795	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 SKHYUSDTshort	−0.1060%	8h	186.67	+0.166%	$24.7M	$30.6M	20x
Deribit SKHY_USDC-PERPETUAL	−0.0341%	1h	186.16	−0.107%	$48K	$335K	10x	as long as short
edgeX SKHYUSDC	−0.0305%	4h	186.80	+0.234%	$563K	$289K	10x	as long as short
Nado SKHY-PERP	−0.0108%	1h	186.52	+0.087%	$33K	$28K	10x	as long as short
tradeXYZ xyz:SKHY	−0.0083%	1h	186.51	+0.080%	$157.7M	$73.2M	10x	as long as short
Polymarket Perps SKHY-USDlong	−0.0064%	1h	186.36	long leg	$180K	$487K	10x
Coinbase International SKHY-PERP-INTX	−0.0024%	1h	186.71	+0.188%	$47K	$875K	10x	as long as short
QFEX SKHY-USD	−0.0014%	1h	186.34	−0.011%	$1.2M	$4.1M	10x	as long as short
Lighter SKHY	−0.0008%	1h	186.38	+0.011%	$914K	$969K	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	186.47	+0.061%	$228K	$910K	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended SKHY-USD	0.0000%	1h	186.28	−0.041%	$54K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	186.36	0.000%	$198.5M	$426.5M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	186.43	+0.038%	$15.6M	$29.9M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	186.40	+0.021%	$44.1M	$75.5M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	186.29	−0.038%	$25.1M	$20.5M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	186.65	+0.154%	$1.6M	$1.0M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	186.54	+0.097%	$22K	$220K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	186.58	+0.118%	$683	$6.2M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	186.19	−0.091%	$154K	$371K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	186.34	−0.011%	$1.5M	$1.1M	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0025%	1h	186.07	−0.156%	$514K	$2.6M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	186.34	−0.011%	$1.0M	$1.6M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	186.41	+0.027%	$58K	$164K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	186.45	+0.048%	—	$12K	10x	as long as short
Popdex SKHYUSDT	+0.0048%	1h	186.39	+0.016%	$193K	$272K	20x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	186.26	−0.054%	$41K	$13K	10x	as long as short
KuCoin SKHYUSDTM	+0.0100%	8h	186.49	+0.070%	$1.1M	$319K	20x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	186.18	−0.097%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	186.29	−0.038%	$2.2M	$408K	50x	as long as short
Phoenix SKHY	+0.0254%	1h	187.06	+0.376%	$210K	$124K	10x	as long as short
Kraken Futures PF_SKHYUSD	+0.0263%	1h	186.21	−0.081%	$47K	$19K	20x	as long as short