CL

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0090%/8h= +9.9% APRnext payment +$0.11 per $10,000 · paid last 24h +0.015%

Price spread now: Polymarket Perps against Coinbase International0.000%47s7-day average +0.143% · you sell dearer than you buy

Net, funding: paid 7d − costs+$7as 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−$280.281% of the position

Long on Coinbase International Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.352%+$35 on $10k

Price spread, last 4 days (all we have)+0.124%+$12 · spread now 0.000%, 7d avg +0.143%

Together, before fees+0.476%+$48 on $10k · with fees, hour by hour

Funding pays, the price is against you. Polymarket Perps is 0.143% cheaper against Coinbase International than usual: you would sell low and buy high (spread 0.000% now, against its 7-day average of +0.143%). If the spread goes back, that is −$14 on $10k: about 5.3 days of funding at the current rate (+$3 a day). The two prices were read 47 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	Coinbase International WTIOIL-PERP-INTX	93.500	−0.0040	get 0.0005% / 1h	14m 27s	$404K	$931K	15x
Short	Polymarket Perps WTIOIL-USD	93.500	0.0050	get 0.0006% / 1h	14m 27s	$1.7M	$1.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Coinbase International. 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 Coinbase InternationalbpFee Polymarket PerpsbpOrdersPrice spread, now 0.000%Rate

Funding earned: $18.9
Price spread: 0.000% → +0.143%: −$14.33
Slippage, 4 orders: −$10.13
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$23.56
Costs to cover: 0.281%
Break-even: 15.7 days

Slippage from Coinbase International: live order book, 9 min ago; Polymarket Perps: live order book, 4 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 Coinbase International live order book, 9 min ago	1.61 bp	8.6 bp −$9	11.0 bp −$110	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 4 min ago	1.93 bp	5.9 bp −$6	8.1 bp −$81	11.1 bp −$1,111	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	−0.0392%	1h	93.460	−0.043%	$197K	$376K	15x	as long as short
GRVT CL_USDT_Perp	−0.0294%	4h	93.442	−0.062%	$58K	$629K	25x	as long as short
Aster CLUSD1	−0.0289%	4h	93.540	+0.043%	$24.4M	$64.8M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0204%	1h	93.489	−0.012%	$285K	$958K	25x	as long as short
Binance CLUSDT	−0.0181%	4h	93.510	+0.011%	$246.3M	$932.4M	100x	as long as short
Variational Omni CL	−0.0170%	4h	93.440	−0.065%	$13.4M	$10.9M	—	as long as short
Aftermath Perps WTIUSD	−0.0153%	1h	93.452	−0.051%	$2K	$26K	5x	as long as short
Bitget CLUSDT	−0.0126%	4h	93.499	−0.001%	$42.2M	$42.7M	100x	as long as short
Nado WTI-PERP	−0.0122%	1h	93.539	+0.042%	$968K	$614K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0086%	1h	93.460	−0.043%	$3.5M	$5.4M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CL_USDT	−0.0076%	8h	93.430	−0.075%	$22.0M	$50.0M	100x	as long as short
tradeXYZ xyz:CL	−0.0073%	1h	93.492	−0.009%	$185.0M	$213.6M	20x	as long as short
edgeX CLUSDC	−0.0070%	4h	93.441	−0.063%	$525K	$306K	30x	as long as short
OKX CL-USDT-SWAP	−0.0048%	4h	93.510	+0.011%	$42.7M	$103.0M	50x	as long as short
Coinbase International WTIOIL-PERP-INTXlong	−0.0040%	1h	93.500	long leg	$404K	$931K	15x
QFEX CL-USD	−0.0032%	1h	93.500	0.000%	$2.3M	$2.5M	10x	as long as short
dYdX WTI-USD	0.0000%	1h	93.495	−0.005%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.523	+0.025%	$27.2M	$79.6M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.554	+0.058%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.500	0.000%	$38K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.488	−0.013%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	93.039	−0.493%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0015%	8h	93.475	−0.027%	$16K	$367	5x	as long as short
Lighter WTI	+0.0016%	1h	93.491	−0.010%	$11.2M	$9.9M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.530	+0.032%	$2.0M	$16.9M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.460	−0.043%	$740K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.500	0.000%	—	$313K	10x	as long as short
Pacifica CL	+0.0047%	1h	93.489	−0.011%	$332K	$577K	10x	as long as short
Polymarket Perps WTIOIL-USDshort	+0.0050%	1h	93.500	0.000%	$1.7M	$1.3M	20x
SoDEX CL-USD	+0.0050%	1h	93.486	−0.015%	$2.1M	$60K	20x	as long as short
KuCoin CLUSDTM	+0.0082%	4h	93.507	+0.007%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.520	+0.021%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.458	−0.045%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0190%	4h	93.480	−0.021%	$4.0M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.64	+9.781%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0239% / S −0.0172%	1h	93.485	−0.016%	$84K	—	111x	as long as short