Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: Bybit against Polymarket Perps+0.028%7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$260.258% of the position

Long on Polymarket Perps Short on Bybit

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−0.011%−$1 · spread now +0.028%, 7d avg +0.018%

Together, before fees−0.448%−$45 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.018%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps WTIOIL-USD	92.624	0.0050	pay 0.0006% / 1h	11m 22s	$1.6M	$1.4M	20x
Short	Bybit CLUSDT	92.650	0	get 0.0000% / 8h	7h 11m	$26.5M	$89.4M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.028%Rate

Funding earned: −$10.5
Price spread: +0.028% → +0.018%: $0.99
Slippage, 4 orders: −$6.78
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$35.29
Costs to cover: 0.258%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 2 min ago; Bybit: live order book, 3 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, 2 min ago	2.43 bp	6.5 bp −$7	7.7 bp −$77	10.8 bp −$1,081	doesn't fit
Sell Bybit live order book, 3 min ago	0.54 bp	6.7 bp −$7	7.9 bp −$79	16.2 bp −$1,623	101.7 bp −$50.9K

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
GRVT CL_USDT_Perp	−0.0360%	4h	92.630	+0.006%	$58K	$684K	25x	as long as short
Aster CLUSD1	−0.0336%	4h	92.634	+0.011%	$24.0M	$75.1M	20x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0290%	1h	92.580	−0.048%	$123K	$275K	15x	as long as short
Binance CLUSDT	−0.0281%	4h	92.620	−0.004%	$244.5M	$1.03B	100x	as long as short
Variational Omni CL	−0.0272%	4h	92.610	−0.015%	$13.3M	$11.4M	—	as long as short
Gate CL_USDT	−0.0210%	8h	92.550	−0.080%	$21.3M	$55.5M	100x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0120%	1h	92.610	−0.015%	$274K	$913K	25x	as long as short
Ondo Perps WTI-USD.P	−0.0054%	1h	92.560	−0.069%	$3.5M	$5.9M	20x	as long as short
Nado WTI-PERP	−0.0052%	1h	92.656	+0.035%	$934K	$708K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.030	−0.641%	$399K	$956K	15x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CL-USD	−0.0040%	1h	92.600	−0.026%	$2.4M	$1.7M	10x	as long as short
tradeXYZ xyz:CL	−0.0032%	1h	92.623	−0.001%	$185.8M	$237.1M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.666	+0.045%	$8K	$3K	5x	as long as short
Bybit CLUSDTshort	0.0000%	8h	92.650	+0.028%	$26.5M	$89.4M	150x
OKX CL-USDT-SWAP	0.0000%	4h	92.610	−0.015%	$43.1M	$108.3M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.727	+0.112%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.619	−0.005%	$42.2M	$48.1M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.710	+0.093%	$37K	$66K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.623	−0.001%	$19K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.180	−0.479%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0005%	8h	92.583	−0.044%	$15K	$367	5x	as long as short
Extended WTI-USD	+0.0008%	1h	92.640	+0.017%	$2.3M	$25.9M	10x	as long as short
Lighter WTI	+0.0024%	1h	92.603	−0.023%	$11.2M	$10.2M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.320	−0.328%	$722K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.650	+0.028%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USDlong	+0.0050%	1h	92.624	long leg	$1.6M	$1.4M	20x
SoDEX CL-USD	+0.0050%	1h	92.580	−0.048%	$2.0M	$38K	20x	as long as short
KuCoin CLUSDTM	+0.0082%	4h	92.609	−0.016%	$7.2M	$2.3M	50x	as long as short
edgeX CLUSDC	+0.0095%	4h	92.657	+0.035%	$533K	$300K	30x	as long as short
Pacifica CL	+0.0100%	1h	92.602	−0.024%	$356K	$602K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.670	+0.050%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.597	−0.030%	$4K	—	10x	as long as short
Aftermath Perps WTIUSD	+0.0157%	1h	92.624	0.000%	$2K	$28K	5x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0206% / S −0.0131%	1h	92.625	+0.001%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.69	+9.788%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.640	+0.017%	$4.0M	$1.2M	50x	as long as short