Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.014%

Price spread now: OKX against Polymarket Perps−0.115%7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$410.413% of the position

Long on Polymarket Perps Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.217%+$22 on $10k

Price spread, last 3 days (all we have)−0.367%−$37 · spread now −0.115%, 7d avg −0.014%

Together, before fees−0.149%−$15 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.101% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of −0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps VIRTUAL-USD	0.7118	0.0100	pay 0.0013% / 1h	57m 24s	$33K	$787K	5x
Short	OKX VIRTUAL-USDT-SWAP	0.7110	0.0100	get 0.0050% / 4h	2h 57m	$2.8M	$9.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.115%Rate

Funding earned: $0
Price spread: −0.115% → −0.014%: −$10.13
Slippage, 4 orders: −$23.28
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$51.41
Costs to cover: 0.413%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 30 min ago; OKX: live order book, 6 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, 30 min ago	2.60 bp	7.7 bp −$8	8.8 bp −$88	doesn't fit	doesn't fit
Sell OKX live order book, 6 min ago	1.40 bp	12.3 bp −$12	35.4 bp −$354	doesn't fit	doesn't fit

VIRTUAL on 33 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
Injective VIRTUAL/USDC PERP	−0.0160%	1h	0.7117	−0.017%	$46	$88K	5.5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7113	−0.071%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0120%	1h	0.7112	−0.087%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	−0.0079%	1h	0.7136	+0.249%	$11K	$45K	5x	as long as short
Variational Omni VIRTUAL	−0.0035%	4h	0.7138	+0.273%	$518K	$872K	—	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0031%	1h	0.7114	−0.059%	$15K	$40K	10x	as long as short
SoDEX VIRTUAL-USD	−0.0005%	1h	0.7112	−0.090%	$1K	$9K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7116	−0.028%	$12K	—	150x	as long as short
Lighter VIRTUAL	+0.0048%	1h	0.7110	−0.108%	$324K	$391K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0080%	4h	0.7112	−0.087%	$14K	$1.5M	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid VIRTUAL	+0.0100%	1h	0.7124	+0.080%	$8.7M	$3.7M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7112	−0.091%	$193K	$76K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7115	−0.048%	$73K	$41K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7113	−0.073%	$16.3M	$36.8M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7108	−0.143%	$15.3M	$15.5M	50x	as long as short
OKX VIRTUAL-USDT-SWAPshort	+0.0100%	4h	0.7110	−0.115%	$2.8M	$9.1M	20x
Gate VIRTUAL_USDT	+0.0100%	4h	0.7114	−0.059%	$1.5M	$2.8M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7115	−0.045%	$17.0M	$4.0M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7115	−0.045%	$3.0M	$3.9M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7119	+0.011%	$6.1M	$5.2M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7112	−0.087%	—	$8.2M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7113	−0.073%	$234K	$157K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7133	+0.211%	$19K	$255K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7120	+0.023%	$635K	$982K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7139	+0.292%	$41K	$243K	50x	as long as short
Polymarket Perps VIRTUAL-USDlong	+0.0100%	1h	0.7118	long leg	$33K	$787K	5x
SunX VIRTUAL-USDT	+0.0100%	4h	0.7115	−0.045%	$1K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7110	−0.119%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7113	−0.073%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0296% / S −0.0228%	1h	0.7116	−0.036%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7132	+0.194%	$811K	$812K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7152	+0.475%	$195K	$104K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0528%	1h	0.7125	+0.089%	$518K	$521K	50x	as long as short