Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Polymarket Perps against SoDEX−0.016%7-day average +0.047% · 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−$56as in the Price arb table

costs, in and out, $10k−$500.499% of the position

Long on SoDEX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.012%+$1 on $10k

Price spread, last 3 days (all we have)+0.260%+$26 · spread now −0.016%, 7d avg +0.047%

Together, before fees+0.272%+$27 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Polymarket Perps is 0.064% cheaper against SoDEX than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX CL-USD	91.957	0.0050	pay 0.0006% / 1h	0m 48s	$2.0M	$39K	20x
Short	Polymarket Perps WTIOIL-USD	91.942	0.0050	get 0.0006% / 1h	0m 48s	$1.6M	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against SoDEX. 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 SoDEXbpFee Polymarket PerpsbpOrdersPrice spread, now −0.016%Rate

Funding earned: $0
Price spread: −0.016% → +0.047%: −$6.35
Slippage, 4 orders: −$33.94
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$56.29
Costs to cover: 0.499%
Break-even: never at this rate

Slippage from SoDEX: live order book, 3 min ago; Polymarket Perps: 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 SoDEX live order book, 3 min ago	0.54 bp	18.8 bp −$19	83.8 bp −$838	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 3 min ago	2.23 bp	6.2 bp −$6	10.5 bp −$105	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	91.950	−0.008%	$2.4M	$2.7M	10x	as long as short
Aster CLUSD1	0.0000%	4h	91.983	+0.028%	$24.5M	$77.9M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	91.937	−0.021%	$8K	$3K	5x	as long as short
Binance CLUSDT	0.0000%	4h	91.958	+0.001%	$246.5M	$1.13B	100x	as long as short
Bybit CLUSDT	0.0000%	8h	91.956	−0.001%	$25.2M	$99.8M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	91.940	−0.018%	$43.0M	$116.5M	50x	as long as short
Gate CL_USDT	0.0000%	8h	91.890	−0.073%	$21.2M	$63.4M	100x	as long as short
Bitget CLUSDT	0.0000%	4h	91.941	−0.017%	$42.1M	$67.0M	100x	as long as short
Variational Omni CL	0.0000%	4h	91.951	−0.007%	$13.4M	$16.1M	—	as long as short
GRVT CL_USDT_Perp	0.0000%	4h	91.941	−0.018%	$58K	$773K	25x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet WTIOIL-USD	0.0000%	1h	91.956	−0.001%	$17K	$240K	10x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	0.0000%	1h	91.970	+0.014%	$95K	$260K	15x	as long as short
Aftermath Perps WTIUSD	+0.0001%	1h	91.900	−0.062%	$2K	$31K	5x	as long as short
Phoenix WTIOIL	+0.0009%	1h	91.990	+0.036%	$33K	$99K	20x	as long as short
Paradex CL-USD-PERP	+0.0016%	8h	91.949	−0.009%	$15K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	91.909	−0.052%	$11.0M	$12.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	91.958	+0.001%	$2.0M	$29.5M	10x	as long as short
Injective WTI/USDC PERP	+0.0033%	1h	91.880	−0.084%	$17K	$18K	30x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0040%	1h	91.966	+0.010%	$257K	$1.3M	25x	as long as short
StandX CL-USD	+0.0040%	1h	91.970	+0.014%	$723K	$3.1M	40x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0040%	1h	92.080	+0.134%	$393K	$1.3M	15x	as long as short
Vest CL-PERP	+0.0046%	1h	92.020	+0.069%	—	$243K	10x	as long as short
tradeXYZ xyz:CL	+0.0050%	1h	91.940	−0.018%	$182.5M	$289.9M	20x	as long as short
Polymarket Perps WTIOIL-USDshort	+0.0050%	1h	91.942	−0.016%	$1.6M	$1.4M	20x
SoDEX CL-USDlong	+0.0050%	1h	91.957	long leg	$2.0M	$39K	20x
Ondo Perps WTI-USD.P	+0.0050%	1h	91.940	−0.018%	$3.5M	$6.5M	20x	as long as short
edgeX CLUSDC	+0.0058%	4h	91.956	−0.001%	$529K	$342K	30x	as long as short
Pacifica CL	+0.0100%	1h	91.959	+0.002%	$336K	$573K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	91.953	−0.004%	$7.3M	$2.1M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	91.930	−0.029%	$55K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	91.944	−0.014%	$4K	—	10x	as long as short
Nado WTI-PERP	+0.0176%	1h	91.935	−0.023%	$881K	$787K	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0212% / S −0.0127%	1h	91.955	−0.002%	$76K	—	29x	as long as short
BloFin CL-USDT	+0.0240%	4h	91.940	−0.018%	$4.0M	$1.5M	50x	as long as short
RISEx CL/USDC	+0.0266%	1h	92.076	+0.129%	$3.2M	$2.7M	20x	as long as short