Funding arb · Price arb /

SKHYNIX

RWAall SKHYNIX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.008%

Price spread now: Phemex against Polymarket Perps−0.156%7-day average +0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs−$142as in the Funding arb table

Net, price: spread back to 7d avg − costs−$125as in the Price arb table

costs, in and out, $10k−$1061.062% of the position

Long on Polymarket Perps Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.354%−$35 on $10k

Price spread, last 4 days (all we have)+0.108%+$11 · spread now −0.156%, 7d avg +0.036%

Together, before fees−0.246%−$25 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 Phemex is 0.192% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of +0.036%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps SKHYNIX-USD	1,357.3	0.0050	pay 0.0006% / 1h	49m 10s	$239K	$1.0M	10x
Short	Phemex SKHYNIXUSDT	1,355.2	0	get 0.0000% / 8h	4h 49m	$1.2M	$786K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.156%Rate

Funding earned: −$10.5
Price spread: −0.156% → +0.036%: −$19.22
Slippage, 4 orders: −$86.22
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$135.95
Costs to cover: 1.062%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 2 min ago; Phemex: 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, 2 min ago	2.21 bp	6.2 bp −$6	6.3 bp −$63	9.7 bp −$965	doesn't fit
Sell Phemex live order book, 2 min ago	3.13 bp	54.9 bp −$55	doesn't fit	doesn't fit	doesn't fit

SKHYNIX on 23 exchanges

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 SKHYNIXUSDC	−0.0250%	4h	1,357.8	+0.037%	$3.3M	$443K	10x	as long as short
Aftermath Perps SKHYNIXUSD	−0.0039%	1h	1,357.3	−0.002%	$691	$32K	5x	as long as short
Aster SKHYNIXUSD1	0.0000%	4h	1,358.6	+0.098%	$18.2M	$17.4M	20x	as long as short
Bybit SKHYNIXUSDT	0.0000%	8h	1,356.8	−0.038%	$18.2M	$32.9M	100x	as long as short
OKX SKHYNIX-USDT-SWAP	0.0000%	8h	1,356.2	−0.081%	$51.1M	$150.6M	50x	as long as short
Gate SKHYNIX_USDT	0.0000%	4h	1,356.6	−0.054%	$137.4M	$78.6M	75x	as long as short
Bullet SKHYNIX-USD	0.0000%	1h	1,355.1	−0.164%	$14K	$466K	10x	as long as short
SunX SKHYNIX-USDT	0.0000%	4h	1,359.1	+0.131%	$1K	$401K	10x	as long as short
Phemex SKHYNIXUSDTshort	0.0000%	8h	1,355.2	−0.156%	$1.2M	$786K	10x
tradeXYZ xyz:SKHX	+0.0050%	1h	1,357.1	−0.015%	$298.3M	$300.9M	10x	as long as short

Show all 23 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps SKHYNIX-USDlong	+0.0050%	1h	1,357.3	long leg	$239K	$1.0M	10x
SoDEX SKHX-USD	+0.0050%	1h	1,356	−0.099%	$396	$8K	10x	as long as short
Pacifica SKHYNIX	+0.0100%	1h	1,356	−0.092%	$132K	$493K	10x	as long as short
KuCoin SKHYNIXUSDTM	+0.0100%	4h	1,356.1	−0.086%	$5.1M	$8.4M	20x	as long as short
ApeX Omni SKHYNIXUSDT	+0.0100%	1h	1,358.6	+0.094%	$147K	$264K	50x	as long as short
Orderly PERP_SKHYNIX_USDC_mythos	+0.0100%	8h	1,357.4	+0.010%	$5K	$1K	10x	as long as short
Aevo SKHX-PERP	+0.0104%	1h	1,357.5	+0.017%	$32K	—	10x	as long as short
Bitget SKHYNIXUSDT	+0.0146%	4h	1,356	−0.098%	$21.7M	$39.9M	20x	as long as short
HTX SKHYNIX-USDT	+0.0171%	4h	1,356.5	−0.059%	$1.3M	$3.0M	50x	as long as short
Extended SKHYNIX-USD	+0.0328%	1h	1,354.6	−0.198%	$2.3M	$96K	10x	as long as short
Binance SKHYNIXUSDT	+0.0332%	4h	1,355.7	−0.119%	$325.2M	$1.05B	50x	as long as short
BloFin SKHYNIX-USDT	+0.0335%	4h	1,355.2	−0.157%	$2.5M	$4.3M	50x	as long as short
GRVT SKHYNIX_USDT_Perp	+0.0664%	4h	1,358.5	+0.089%	$98K	$217K	10x	as long as short