Funding arb · Price arb /

SKHY

RWAall SKHY markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0290%/8h= +31.7% APRpaid last 24h −0.006%

Price spread now: KuCoin against Polymarket Perps+0.145%7-day average +0.058% · you sell dearer than you buy

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$790.793% of the position

Long on Polymarket Perps Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.082%−$8 on $10k

Price spread, last 7 days−0.006%−$1 · spread now +0.145%, 7d avg +0.058%

Together, before fees−0.088%−$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and KuCoin is 0.087% dearer against Polymarket Perps than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.058%. Mind the row above: over the last 7 days funding on this pair cost −0.082%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.082% in total (about -4.3% 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	186.15	−0.0190	get 0.0024% / 1h	38m 18s	$180K	$487K	10x
Short	KuCoin SKHYUSDTM	186.42	0.0100	get 0.0100% / 8h	1h 38m	$1.1M	$328K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.145%Rate

Funding earned: $60.85
Price spread: +0.145% → +0.058%: $8.67
Slippage, 4 orders: −$59.34
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$9.82
Costs to cover: 0.793%
Break-even: 8.1 days

Slippage from Polymarket Perps: live order book, 4 min ago; KuCoin: live order book, 7 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, 4 min ago	2.41 bp	6.4 bp −$6	8.1 bp −$81	12.0 bp −$1,198	doesn't fit
Sell KuCoin live order book, 7 min ago	1.87 bp	31.8 bp −$32	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	−0.1179%	8h	186.47	+0.172%	$24.9M	$31.7M	20x	as long as short
edgeX SKHYUSDC	−0.0809%	4h	186.57	+0.223%	$562K	$290K	10x	as long as short
Deribit SKHY_USDC-PERPETUAL	−0.0715%	1h	186.27	+0.064%	$49K	$341K	10x	as long as short
tradeXYZ xyz:SKHY	−0.0197%	1h	186.27	+0.064%	$158.2M	$74.2M	10x	as long as short
Nado SKHY-PERP	−0.0195%	1h	186.42	+0.146%	$33K	$28K	10x	as long as short
Popdex SKHYUSDT	−0.0192%	1h	186.21	+0.032%	$196K	$274K	20x	as long as short
Polymarket Perps SKHY-USDlong	−0.0190%	1h	186.15	long leg	$180K	$487K	10x
Lighter SKHY	−0.0144%	1h	186.26	+0.059%	$961K	$1.1M	10x	as long as short
Kraken Futures PF_SKHYUSD	−0.0139%	1h	186.36	+0.113%	$47K	$19K	20x	as long as short
Coinbase International SKHY-PERP-INTX	−0.0104%	1h	187.75	+0.860%	$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	186.22	+0.038%	$1.2M	$4.1M	10x	as long as short
Ondo Perps SKHY-USD.P	−0.0042%	1h	186.07	−0.043%	$514K	$2.6M	10x	as long as short
Aster SKHYUSDT	0.0000%	8h	186.56	+0.219%	$226K	$916K	50x	as long as short
Extended SKHY-USD	0.0000%	1h	186.20	+0.025%	$54K	$7K	10x	as long as short
Binance SKHYUSDT	0.0000%	8h	186.32	+0.091%	$198.9M	$438.5M	50x	as long as short
Bybit SKHYUSDT	0.0000%	8h	186.37	+0.118%	$15.8M	$29.3M	100x	as long as short
OKX SKHY-USDT-SWAP	0.0000%	8h	186.35	+0.107%	$44.5M	$77.4M	50x	as long as short
Gate SKHY_USDT	0.0000%	8h	186.25	+0.054%	$25.5M	$20.4M	75x	as long as short
Variational Omni SKHY	0.0000%	8h	186.53	+0.205%	$1.6M	$1.0M	—	as long as short
GRVT SKHY_USDT_Perp	0.0000%	8h	186.59	+0.237%	$22K	$228K	10x	as long as short
SunX SKHY-USDT	0.0000%	8h	186.52	+0.199%	$683	$6.1M	10x	as long as short
HTX SKHY-USDT	0.0000%	8h	186.19	+0.021%	$154K	$367K	50x	as long as short
Phemex SKHYUSDT	0.0000%	8h	186.34	+0.102%	$1.5M	$1.1M	10x	as long as short
Lighter RH SKHY	+0.0032%	1h	186.27	+0.064%	$1.1M	$1.6M	10x	as long as short
Arcus SKHY-USD	+0.0040%	1h	186.51	+0.193%	$58K	$165K	10x	as long as short
Vest SKHY-USD-PERP	+0.0046%	1h	186.41	+0.140%	—	$24K	10x	as long as short
SoDEX SKHY-USD	+0.0050%	1h	186.25	+0.054%	$41K	$13K	10x	as long as short
KuCoin SKHYUSDTMshort	+0.0100%	8h	186.42	+0.145%	$1.1M	$328K	20x
Orderly PERP_SKHY_USDC_mythos	+0.0100%	8h	186.28	+0.070%	$2K	$4K	10x	as long as short
BloFin SKHY-USDT	+0.0120%	8h	186.25	+0.054%	$2.2M	$419K	50x	as long as short
Phoenix SKHY	+0.0213%	1h	187.04	+0.478%	$210K	$115K	10x	as long as short