Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0054%/8h= +5.9% APRpaid last 24h +0.015%

Price spread now: Polymarket Perps against Bybit−0.069%7-day average −0.017% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.437%+$44 on $10k

Price spread, last 7 days+0.044%+$4 · spread now −0.069%, 7d avg −0.017%

Together, before fees+0.481%+$48 on $10k · with fees, hour by hour

Funding pays, the price is against you. Polymarket Perps is 0.052% cheaper against Bybit than usual: you would sell low and buy high (spread −0.069% now, against its 7-day average of −0.017%). If the spread goes back, that is −$5 on $10k: about 3.2 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.437% in total) that is about 20 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CLUSDT	92.940	−0.0004	get 0.0004% / 8h	7h 52m	$27.0M	$80.4M	150x
Short	Polymarket Perps WTIOIL-USD	92.876	0.0050	get 0.0006% / 1h	52m 45s	$1.6M	$1.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Bybit. 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 BybitbpFee Polymarket PerpsbpOrdersPrice spread, now −0.069%Rate

Funding earned: $11.33
Price spread: −0.069% → −0.017%: −$5.19
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$12.86
Costs to cover: 0.190%
Break-even: 15.0 days

Slippage unknown: Bybit: live order book, 1 min ago; Polymarket Perps: live order book, 1 min ago. Net counts fees only.

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 Bybit live order book, 1 min ago	0.54 bp	6.0 bp −$6	7.3 bp −$73	15.4 bp −$1,537	81.4 bp −$40.7K
Sell Polymarket Perps live order book, 1 min ago	314.98 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

CL on 36 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
Deribit WTIOIL_USDC-PERPETUAL	−0.0503%	1h	92.950	+0.011%	$188K	$406K	15x	as long as short
GRVT CL_USDT_Perp	−0.0338%	4h	92.910	−0.032%	$74K	$614K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0313%	1h	92.959	+0.020%	$271K	$930K	25x	as long as short
Aster CLUSD1	−0.0287%	4h	92.959	+0.020%	$24.7M	$61.5M	20x	as long as short
Gate CL_USDT	−0.0212%	8h	92.860	−0.086%	$23.3M	$48.7M	100x	as long as short
Binance CLUSDT	−0.0138%	4h	92.943	+0.003%	$245.9M	$928.8M	100x	as long as short
Nado WTI-PERP	−0.0123%	1h	92.942	+0.002%	$950K	$612K	10x	as long as short
Variational Omni CL	−0.0122%	4h	92.970	+0.032%	$13.5M	$10.7M	—	as long as short
Bitget CLUSDT	−0.0094%	4h	92.935	−0.005%	$42.0M	$41.6M	100x	as long as short
edgeX CLUSDC	−0.0092%	4h	92.952	+0.013%	$542K	$342K	30x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CL	−0.0088%	1h	92.932	−0.009%	$184.1M	$195.6M	20x	as long as short
Aftermath Perps WTIUSD	−0.0079%	1h	93.049	+0.117%	$1K	$27K	5x	as long as short
OKX CL-USDT-SWAP	−0.0065%	4h	92.930	−0.011%	$42.5M	$103.2M	50x	as long as short
Ondo Perps WTI-USD.P	−0.0058%	1h	92.920	−0.022%	$3.6M	$5.2M	20x	as long as short
QFEX CL-USD	−0.0026%	1h	92.890	−0.054%	$2.3M	$2.5M	10x	as long as short
Bybit CLUSDTlong	−0.0004%	8h	92.940	long leg	$27.0M	$80.4M	150x
dYdX WTI-USD	0.0000%	1h	92.953	+0.014%	$8K	$3K	5x	as long as short
RISEx CL/USDC	0.0000%	1h	92.935	−0.005%	$3.0M	$2.8M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.942	+0.002%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.457	−0.520%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0008%	8h	92.846	−0.101%	$16K	$367	5x	as long as short
Lighter WTI	+0.0008%	1h	92.961	+0.023%	$11.3M	$8.6M	20x	as long as short
Phoenix WTIOIL	+0.0009%	1h	92.910	−0.032%	$37K	$39K	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0016%	1h	93.160	+0.237%	$404K	$808K	15x	as long as short
Extended WTI-USD	+0.0032%	1h	92.970	+0.032%	$1.7M	$14.9M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.950	+0.011%	$733K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.910	−0.032%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USDshort	+0.0050%	1h	92.876	−0.069%	$1.6M	$1.3M	20x
SoDEX CL-USD	+0.0050%	1h	92.958	+0.019%	$2.1M	$62K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.903	−0.040%	$346K	$587K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.945	+0.005%	$7.0M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.920	−0.022%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.930	−0.011%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0166% / S 0.0000%	1h	92.955	+0.016%	$85K	—	111x	as long as short
BloFin CL-USDT	+0.0176%	4h	92.930	−0.011%	$4.0M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.13	+9.892%	$19K	$5K	30x	as long as short