Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.022%

Price spread now: Polymarket Perps against Binance−0.009%46s7-day average +0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$1as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$250.253% of the position

Long on Binance Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.238%+$24 on $10k

Price spread, last 2 days (all we have)−0.004%$0 · spread now −0.009%, 7d avg +0.011%

Together, before fees+0.234%+$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. Polymarket Perps is 0.020% cheaper against Binance than usual: you would sell low and buy high (spread −0.009% now, against its 7-day average of +0.011%). If the spread goes back, that is −$2 on $10k: about 32 hours of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.238% in total) that is about 14 hours. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CLUSDT	91.985	0	get 0.0000% / 4h	2h 23m	$247.0M	$1.14B	100x
Short	Polymarket Perps WTIOIL-USD	91.977	0.0050	get 0.0006% / 1h	23m 43s	$1.6M	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Binance. 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 BinancebpFee Polymarket PerpsbpOrdersPrice spread, now −0.009%Rate

Funding earned: $10.5
Price spread: −0.009% → +0.011%: −$2.02
Slippage, 4 orders: −$7.28
Fee Binance: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$16.8
Costs to cover: 0.253%
Break-even: 18.2 days

Slippage from Binance: live order book, 5 min ago; Polymarket Perps: live order book, 5 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 Binance live order book, 5 min ago	0.54 bp	5.5 bp −$6	5.7 bp −$57	11.7 bp −$1,168	40.6 bp −$20.3K
Sell Polymarket Perps live order book, 5 min ago	2.28 bp	6.7 bp −$7	9.4 bp −$94	doesn't fit	doesn't fit

CL on 35 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
QFEX CL-USD	−0.0019%	1h	91.980	−0.006%	$2.4M	$2.8M	10x	as long as short
Aster CLUSD1	0.0000%	4h	92.006	+0.022%	$24.6M	$77.0M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	91.916	−0.076%	$8K	$3K	5x	as long as short
Binance CLUSDTlong	0.0000%	4h	91.985	long leg	$247.0M	$1.14B	100x
Bybit CLUSDT	0.0000%	8h	91.970	−0.017%	$25.3M	$100.3M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	91.960	−0.028%	$43.1M	$117.1M	50x	as long as short
Gate CL_USDT	0.0000%	8h	91.900	−0.093%	$21.2M	$63.1M	100x	as long as short
Bitget CLUSDT	0.0000%	4h	91.958	−0.030%	$42.2M	$69.1M	100x	as long as short
Variational Omni CL	0.0000%	4h	91.992	+0.007%	$13.7M	$16.1M	—	as long as short
GRVT CL_USDT_Perp	0.0000%	4h	91.989	+0.004%	$58K	$782K	25x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit WTIOIL_USDC-PERPETUAL	0.0000%	1h	91.990	+0.005%	$95K	$291K	15x	as long as short
Aftermath Perps WTIUSD	+0.0001%	1h	91.967	−0.020%	$2K	$31K	5x	as long as short
Bullet WTIOIL-USD	+0.0005%	1h	91.976	−0.010%	$18K	$241K	10x	as long as short
Phoenix WTIOIL	+0.0009%	1h	92.000	+0.016%	$33K	$99K	20x	as long as short
Lighter WTI	+0.0032%	1h	91.948	−0.041%	$11.0M	$12.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.015	+0.032%	$1.9M	$29.7M	10x	as long as short
Injective WTI/USDC PERP	+0.0033%	1h	92.044	+0.064%	$17K	$18K	30x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0040%	1h	91.988	+0.002%	$258K	$1.3M	25x	as long as short
StandX CL-USD	+0.0040%	1h	92.000	+0.016%	$725K	$3.0M	40x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0040%	1h	92.080	+0.103%	$393K	$1.3M	15x	as long as short
edgeX CLUSDC	+0.0042%	4h	91.987	+0.002%	$529K	$341K	30x	as long as short
Vest CL-PERP	+0.0046%	1h	92.020	+0.038%	—	$243K	10x	as long as short
Polymarket Perps WTIOIL-USDshort	+0.0050%	1h	91.977	−0.009%	$1.6M	$1.4M	20x
SoDEX CL-USD	+0.0050%	1h	91.981	−0.005%	$2.0M	$40K	20x	as long as short
Ondo Perps WTI-USD.P	+0.0050%	1h	91.980	−0.006%	$3.5M	$6.6M	20x	as long as short
tradeXYZ xyz:CL	+0.0055%	1h	91.962	−0.025%	$182.3M	$294.2M	20x	as long as short
Paradex CL-USD-PERP	+0.0096%	8h	91.958	−0.030%	$15K	$367	5x	as long as short
Pacifica CL	+0.0100%	1h	91.990	+0.005%	$332K	$573K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	91.971	−0.016%	$7.4M	$2.1M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.080	+0.103%	$55K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	91.972	−0.014%	$4K	$49	10x	as long as short
Nado WTI-PERP	+0.0185%	1h	91.964	−0.023%	$879K	$786K	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0212% / S −0.0127%	1h	91.985	0.000%	$76K	—	29x	as long as short
BloFin CL-USDT	+0.0240%	4h	91.910	−0.082%	$4.0M	$1.5M	50x	as long as short
RISEx CL/USDC	+0.0266%	1h	92.121	+0.147%	$3.2M	$2.7M	20x	as long as short