Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0038%/8h= +4.2% APRpaid last 24h −0.010%

Price spread now: Bybit against Polymarket Perps0.000%7-day average +0.083% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$270.271% of the position

Long on Polymarket Perps Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.014%−$1 on $10k

Price spread, last 7 days+0.240%+$24 · spread now 0.000%, 7d avg +0.083%

Together, before fees+0.226%+$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.083% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread 0.000% now, against its 7-day average of +0.083%). If the spread goes back, that is −$8 on $10k: about 7.3 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps SKHY-USD	186.11	−0.0038	get 0.0005% / 1h	2m 11s	$180K	$486K	10x
Short	Bybit SKHYUSDT	186.11	0	get 0.0000% / 8h	2m 11s	$16.0M	$30.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now 0.000%Rate

Funding earned: $8.01
Price spread: 0.000% → +0.083%: −$8.3
Slippage, 4 orders: −$8.13
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$27.42
Costs to cover: 0.271%
Break-even: 31.0 days

Slippage from Polymarket Perps: live order book, 35 min ago; Bybit: live order book, 1 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, 35 min ago	2.14 bp	6.1 bp −$6	7.4 bp −$74	10.4 bp −$1,045	doesn't fit
Sell Bybit live order book, 1 min ago	0.27 bp	7.9 bp −$8	16.0 bp −$160	76.5 bp −$7,653	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	−0.1249%	8h	186.34	+0.124%	$25.5M	$33.5M	20x	as long as short
edgeX SKHYUSDC	−0.0562%	4h	186.21	+0.053%	$561K	$290K	10x	as long as short
Kraken Futures PF_SKHYUSD	−0.0266%	1h	186.33	+0.116%	$48K	$21K	20x	as long as short
Deribit SKHY_USDC-PERPETUAL	−0.0233%	1h	186.18	+0.038%	$49K	$349K	10x	as long as short
tradeXYZ xyz:SKHY	−0.0127%	1h	186.10	−0.005%	$158.0M	$76.9M	10x	as long as short
Nado SKHY-PERP	−0.0114%	1h	186.27	+0.088%	$33K	$28K	10x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0072%	1h	187.58	+0.790%	$68K	$788K	10x	as long as short
KuCoin SKHYUSDTM	−0.0070%	8h	186.11	0.000%	$1.1M	$353K	20x	as long as short
QFEX SKHY-USD	−0.0061%	1h	186.15	+0.021%	$1.2M	$4.3M	10x	as long as short
Polymarket Perps SKHY-USDlong	−0.0038%	1h	186.11	long leg	$180K	$486K	10x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster SKHYUSDT	0.0000%	8h	186.27	+0.089%	$225K	$899K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	186.09	−0.012%	$54K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	186.13	+0.010%	$199.6M	$453.2M	50x	as long as short
Bybit SKHYUSDTshort	0.0000%	8h	186.11	0.000%	$16.0M	$30.7M	100x
OKX SKHY-USDT-SWAP	0.0000%	8h	186.12	+0.005%	$44.4M	$80.1M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	186.10	−0.005%	$25.5M	$21.2M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	186.18	+0.038%	$1.6M	$1.1M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	186.23	+0.063%	$22K	$239K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	186.42	+0.167%	$682	$6.0M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	186.07	−0.021%	$154K	$363K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	186.13	+0.011%	$1.5M	$1.1M	10x	as long as short
Popdex SKHYUSDT	+0.0008%	1h	186.11	0.000%	$204K	$287K	20x	as long as short
Lighter SKHY	+0.0016%	1h	186.16	+0.027%	$972K	$1.2M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	186.13	+0.011%	$1.1M	$1.5M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	186.13	+0.011%	$60K	$171K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	186.17	+0.032%	—	$32K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	186.11	0.000%	$41K	$12K	10x	as long as short
Ondo Perps SKHY-USD.P	+0.0050%	1h	186.21	+0.054%	$520K	$2.6M	10x	as long as short
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	186.15	+0.021%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	186.14	+0.016%	$2.2M	$427K	50x	as long as short
Phoenix SKHY	+0.0129%	1h	186.38	+0.145%	$209K	$123K	10x	as long as short