Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0126%/8h= −13.9% APRpaid last 24h −0.015%

Price spread now: OKX against Polymarket Perps+0.004%7-day average +0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$260.260% of the position

Long on Polymarket Perps Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.237%−$24 on $10k

Price spread, last 7 days+0.062%+$6 · spread now +0.004%, 7d avg +0.034%

Together, before fees−0.175%−$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and OKX is 0.030% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.034%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps WTIOIL-USD	92.906	0.0050	pay 0.0006% / 1h	12m 13s	$1.6M	$1.2M	20x
Short	OKX CL-USDT-SWAP	92.910	−0.0076	pay 0.0038% / 4h	1h 12m	$42.9M	$102.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.004%Rate

Funding earned: −$26.56
Price spread: +0.004% → +0.034%: −$3
Slippage, 4 orders: −$8.03
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$55.6
Costs to cover: 0.260%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 1 min ago; OKX: live order book, 2 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, 1 min ago	2.69 bp	7.0 bp −$7	7.3 bp −$73	10.5 bp −$1,051	doesn't fit
Sell OKX live order book, 2 min ago	0.54 bp	6.0 bp −$6	6.8 bp −$68	12.7 bp −$1,274	100.8 bp −$50.4K

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	−0.0611%	1h	92.850	−0.060%	$198K	$369K	15x	as long as short
Aster CLUSD1	−0.0257%	4h	92.910	+0.004%	$24.0M	$67.9M	20x	as long as short
GRVT CL_USDT_Perp	−0.0238%	4h	92.910	+0.004%	$53K	$635K	25x	as long as short
Binance CLUSDT	−0.0205%	4h	92.920	+0.015%	$244.7M	$952.3M	100x	as long as short
Variational Omni CL	−0.0195%	4h	92.857	−0.053%	$13.5M	$11.2M	—	as long as short
Ondo Perps WTI-USD.P	−0.0162%	1h	92.860	−0.050%	$3.5M	$5.6M	20x	as long as short
Nado WTI-PERP	−0.0154%	1h	92.944	+0.041%	$961K	$658K	10x	as long as short
OKX CL-USDT-SWAPshort	−0.0076%	4h	92.910	+0.004%	$42.9M	$102.0M	50x
tradeXYZ xyz:CL	−0.0071%	1h	92.931	+0.027%	$184.5M	$217.5M	20x	as long as short
Gate CL_USDT	−0.0071%	8h	92.880	−0.028%	$20.9M	$53.0M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps WTIUSD	−0.0064%	1h	92.897	−0.010%	$2K	$27K	5x	as long as short
Extended WTI-USD	−0.0064%	1h	92.940	+0.037%	$2.1M	$22.3M	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.750	−0.168%	$402K	$944K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	92.880	−0.028%	$2.5M	$1.7M	10x	as long as short
edgeX CLUSDC	−0.0015%	4h	92.902	−0.005%	$529K	$303K	30x	as long as short
Lighter WTI	0.0000%	1h	92.893	−0.014%	$11.2M	$10.5M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.937	+0.033%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.930	+0.026%	$26.5M	$80.9M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.910	+0.004%	$42.1M	$43.4M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.950	+0.047%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.898	−0.009%	$19K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.461	−0.479%	$5K	—	150x	as long as short
KuCoin CLUSDTM	+0.0010%	4h	92.885	−0.023%	$7.3M	$2.3M	50x	as long as short
Paradex CL-USD-PERP	+0.0011%	8h	92.889	−0.019%	$16K	$367	5x	as long as short
StandX CL-USD	+0.0040%	1h	92.870	−0.039%	$732K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.920	+0.015%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USDlong	+0.0050%	1h	92.906	long leg	$1.6M	$1.2M	20x
SoDEX CL-USD	+0.0050%	1h	92.885	−0.023%	$2.1M	$61K	20x	as long as short
RISEx CL/USDC	+0.0066%	1h	92.988	+0.088%	$3.1M	$2.9M	20x	as long as short
Pacifica CL	+0.0100%	1h	92.893	−0.014%	$331K	$619K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.970	+0.069%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.861	−0.048%	$4K	—	10x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0105%	1h	92.909	+0.003%	$273K	$872K	25x	as long as short
BloFin CL-USDT	+0.0168%	4h	92.900	−0.006%	$4.1M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.885	−0.023%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.10	+9.894%	$19K	$11K	30x	as long as short