You can also get yourself some heat shrink tubing. If you have a heat gun you can get a good system down. Cut off about 1/4" or so more then you need. Cut a bunch of these if doing a run. (it shrinks, and you need an "end" to grab with your pliers).
Heat shrink tubing will shrink to half its size when heat is applied. Buy a size that is slightly larger (inside diameter) than you need. 1/8inch works for my applications.
...put your piece of tubing on your swivel and heat. It only takes a second to shrink. Then powder paint. As soon as you take it out of the powder paint, grab that tag end of the tubing with a pliers and pull it off. Presto.
It seems like a chore when reading, but you can get a good, and fast system down quick. ....this is how I do with anything I do not want powder painted. (swivel, hook eye, etc) ..works for me for production.