CL

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0551%/8h= −60.4% APRnext payment −$0.69 per $10,000 · paid last 24h −0.043%

Price spread now: Deribit against Polymarket Perps−0.042%48s7-day average −0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$240.239% of the position

Long on Polymarket Perps Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.103%−$10 on $10k

Price spread, last 4 days (all we have)−0.174%−$17 · spread now −0.042%, 7d avg −0.021%

Together, before fees−0.276%−$28 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and Deribit is 0.021% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.021%). Swap the legs. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.103% in total (about -9.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.69 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps WTIOIL-USD	93.159	0.0050	pay 0.0006% / 1h	44m 30s	$1.6M	$1.3M	20x
Short	Deribit WTIOIL_USDC-PERPETUAL	93.120	−0.0501	pay 0.0063% / 1h	44m 30s	$199K	$370K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.042%Rate

Funding earned: −$115.74
Price spread: −0.042% → −0.021%: −$2.12
Slippage, 4 orders: −$8.9
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$141.76
Costs to cover: 0.239%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 4 min ago; Deribit: live order book, 14 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, 4 min ago	2.79 bp	6.9 bp −$7	8.3 bp −$83	10.6 bp −$1,063	doesn't fit
Sell Deribit live order book, 14 min ago	0.54 bp	6.2 bp −$6	7.5 bp −$75	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-PERPETUALshort	−0.0501%	1h	93.120	−0.042%	$199K	$370K	15x
Aster CLUSD1	−0.0249%	4h	93.170	+0.012%	$24.0M	$67.7M	20x	as long as short
GRVT CL_USDT_Perp	−0.0242%	4h	93.128	−0.034%	$54K	$635K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0195%	1h	93.177	+0.019%	$274K	$872K	25x	as long as short
Binance CLUSDT	−0.0194%	4h	93.150	−0.010%	$244.9M	$950.9M	100x	as long as short
Variational Omni CL	−0.0184%	4h	93.098	−0.066%	$13.5M	$11.0M	—	as long as short
tradeXYZ xyz:CL	−0.0109%	1h	93.136	−0.025%	$185.0M	$216.2M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0098%	1h	93.100	−0.063%	$3.5M	$5.6M	20x	as long as short
Aftermath Perps WTIUSD	−0.0084%	1h	93.098	−0.065%	$2K	$27K	5x	as long as short
edgeX CLUSDC	−0.0080%	4h	93.092	−0.072%	$530K	$302K	30x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CLUSDT	−0.0074%	4h	93.125	−0.036%	$42.0M	$43.8M	100x	as long as short
OKX CL-USDT-SWAP	−0.0069%	4h	93.150	−0.010%	$42.6M	$102.9M	50x	as long as short
Gate CL_USDT	−0.0049%	8h	93.100	−0.063%	$20.9M	$51.3M	100x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.750	−0.439%	$402K	$944K	15x	as long as short
QFEX CL-USD	−0.0043%	1h	93.120	−0.042%	$2.5M	$1.7M	10x	as long as short
Nado WTI-PERP	−0.0027%	1h	93.199	+0.043%	$963K	$653K	10x	as long as short
Lighter WTI	−0.0016%	1h	93.144	−0.016%	$11.2M	$10.5M	20x	as long as short
Extended WTI-USD	−0.0016%	1h	93.190	+0.033%	$2.1M	$21.3M	10x	as long as short
dYdX WTI-USD	0.0000%	1h	93.113	−0.050%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.166	+0.008%	$26.8M	$80.7M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.223	+0.068%	$3.1M	$2.9M	20x	as long as short
KuCoin CLUSDTM	0.0000%	4h	93.154	−0.005%	$7.1M	$2.4M	50x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.180	+0.023%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.157	−0.002%	$18K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.712	−0.480%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0015%	8h	93.136	−0.025%	$16K	$367	5x	as long as short
StandX CL-USD	+0.0040%	1h	93.140	−0.020%	$735K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.160	+0.001%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USDlong	+0.0050%	1h	93.159	long leg	$1.6M	$1.3M	20x
SoDEX CL-USD	+0.0050%	1h	93.141	−0.019%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0068%	1h	93.150	−0.009%	$329K	$622K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.090	−0.074%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.121	−0.041%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0171%	4h	93.150	−0.010%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0210% / S −0.0134%	1h	93.155	−0.004%	$79K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.31	+9.825%	$19K	$11K	30x	as long as short