Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Polymarket Perps against OKX−0.016%7-day average −0.037% · 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−$24as in the Price arb table

costs, in and out, $10k−$260.261% of the position

Long on OKX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.273%+$27 on $10k

Price spread, last 7 days−0.026%−$3 · spread now −0.016%, 7d avg −0.037%

Together, before fees+0.247%+$25 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Polymarket Perps is 0.020% dearer against OKX than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX CL-USDT-SWAP	91.940	0	get 0.0000% / 4h	2h 14m	$43.0M	$116.8M	50x
Short	Polymarket Perps WTIOIL-USD	91.925	0.0050	get 0.0006% / 1h	14m 12s	$1.6M	$1.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against OKX. 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 OKXbpFee Polymarket PerpsbpOrdersPrice spread, now −0.016%Rate

Funding earned: $10.5
Price spread: −0.016% → −0.037%: $2.03
Slippage, 4 orders: −$8.1
Fee OKX: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$13.57
Costs to cover: 0.261%
Break-even: 16.0 days

Slippage from OKX: live order book, 5 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 OKX live order book, 5 min ago	0.55 bp	5.5 bp −$6	7.9 bp −$79	19.4 bp −$1,941	doesn't fit
Sell Polymarket Perps live order book, 4 min ago	0.11 bp	9.2 bp −$9	12.4 bp −$124	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	91.930	−0.011%	$2.4M	$2.8M	10x	as long as short
Aftermath Perps WTIUSD	0.0000%	1h	91.903	−0.040%	$2K	$31K	5x	as long as short
Aster CLUSD1	0.0000%	4h	91.964	+0.026%	$24.5M	$77.5M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	91.944	+0.004%	$8K	$3K	5x	as long as short
Binance CLUSDT	0.0000%	4h	91.927	−0.015%	$246.2M	$1.15B	100x	as long as short
Bybit CLUSDT	0.0000%	8h	91.920	−0.022%	$25.1M	$100.6M	150x	as long as short
OKX CL-USDT-SWAPlong	0.0000%	4h	91.940	long leg	$43.0M	$116.8M	50x
Gate CL_USDT	0.0000%	8h	91.880	−0.065%	$21.2M	$63.4M	100x	as long as short
Bitget CLUSDT	0.0000%	4h	91.913	−0.029%	$42.1M	$68.1M	100x	as long as short
Variational Omni CL	0.0000%	4h	91.911	−0.032%	$13.6M	$16.2M	—	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT CL_USDT_Perp	0.0000%	4h	91.882	−0.063%	$58K	$782K	25x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	91.940	0.000%	$17K	$241K	10x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	0.0000%	1h	91.950	+0.011%	$95K	$269K	15x	as long as short
Phoenix WTIOIL	+0.0009%	1h	91.990	+0.054%	$33K	$99K	20x	as long as short
edgeX CLUSDC	+0.0010%	4h	91.836	−0.113%	$528K	$343K	30x	as long as short
Lighter WTI	+0.0032%	1h	91.877	−0.069%	$11.0M	$12.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	91.981	+0.045%	$2.0M	$29.7M	10x	as long as short
Injective WTI/USDC PERP	+0.0033%	1h	91.880	−0.065%	$17K	$18K	30x	as long as short
Paradex CL-USD-PERP	+0.0039%	8h	91.932	−0.008%	$15K	$367	5x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0040%	1h	91.947	+0.008%	$257K	$1.3M	25x	as long as short
StandX CL-USD	+0.0040%	1h	91.920	−0.022%	$725K	$3.1M	40x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0040%	1h	92.080	+0.152%	$393K	$1.3M	15x	as long as short
Vest CL-PERP	+0.0046%	1h	92.020	+0.087%	—	$243K	10x	as long as short
tradeXYZ xyz:CL	+0.0050%	1h	91.939	−0.001%	$182.7M	$296.6M	20x	as long as short
Polymarket Perps WTIOIL-USDshort	+0.0050%	1h	91.925	−0.016%	$1.6M	$1.5M	20x
SoDEX CL-USD	+0.0050%	1h	91.915	−0.027%	$2.0M	$39K	20x	as long as short
Ondo Perps WTI-USD.P	+0.0050%	1h	91.930	−0.011%	$3.5M	$6.6M	20x	as long as short
Pacifica CL	+0.0100%	1h	91.959	+0.021%	$335K	$575K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	91.936	−0.004%	$7.3M	$2.1M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	91.940	0.000%	$55K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	91.906	−0.037%	$4K	—	10x	as long as short
Nado WTI-PERP	+0.0194%	1h	91.961	+0.023%	$881K	$801K	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0211% / S −0.0127%	1h	91.925	−0.016%	$76K	—	29x	as long as short
BloFin CL-USDT	+0.0240%	4h	91.950	+0.011%	$4.0M	$1.5M	50x	as long as short
RISEx CL/USDC	+0.0266%	1h	92.037	+0.106%	$3.2M	$2.7M	20x	as long as short