Funding arb · Price arb /

COIN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.007%

Price spread now: Orderly against Polymarket Perps+0.020%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Polymarket Perps Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Orderly is 0.020% dearer against Polymarket Perps than usual: you sell high and buy low: +$2 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps COIN-USD	196.63	0.0050	pay 0.0006% / 1h	27m 34s	$133K	$1.2M	10x
Short	Orderly PERP_COIN_USDC_mythos	196.67	0.0100	get 0.0100% / 8h	3h 27m	$569	$4K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.020%Rate

Funding earned: $10.5
Price spread: +0.020% → 0.000%: $2.03
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$1.47
Costs to cover: 0.140%
Break-even: 8.0 days

Slippage unknown: Polymarket Perps: live order book, 1 min ago; Orderly: no order-book sample. Net counts fees only.

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	2.29 bp	6.3 bp −$6	6.8 bp −$68	9.1 bp −$914	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

COIN on 26 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
Bitget COINUSDT	−0.0716%	8h	196.79	+0.081%	$6.3M	$10.5M	20x	as long as short
Injective COIN/USDC PERP	−0.0440%	1h	196.74	+0.056%	$43K	$48K	30x	as long as short
Gate COIN_USDT	−0.0221%	8h	196.74	+0.056%	$1.2M	$7.3M	50x	as long as short
Vest COIN-USD-PERP	−0.0109%	1h	196.07	−0.285%	—	$266K	25x	as long as short
Aster COINUSDT	0.0000%	8h	196.47	−0.084%	$343K	$890K	20x	as long as short
Extended COIN_24_5-USD	0.0000%	1h	196.50	−0.067%	$116K	$648K	10x	as long as short
Binance COINUSDT	0.0000%	8h	196.54	−0.045%	$14.7M	$80.1M	20x	as long as short
Bybit COINUSDT	0.0000%	8h	196.65	+0.010%	$4.8M	$6.0M	50x	as long as short
OKX COIN-USDT-SWAP	0.0000%	8h	196.81	+0.092%	$3.0M	$4.6M	20x	as long as short
Variational Omni COIN	0.0000%	8h	196.85	+0.112%	$684K	$939K	—	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT COIN_USDT_Perp	0.0000%	8h	196.80	+0.086%	$13K	$2.4M	10x	as long as short
QFEX COIN-USD	+0.0020%	1h	196.58	−0.025%	$1.3M	$3.2M	10x	as long as short
Lighter RH COIN	+0.0032%	1h	196.61	−0.010%	$453K	$1.5M	10x	as long as short
Arcus COIN-USD	+0.0040%	1h	196.84	+0.107%	$15K	$55K	5x	as long as short
tradeXYZ xyz:COIN	+0.0050%	1h	196.57	−0.031%	$15.3M	$13.6M	10x	as long as short
Polymarket Perps COIN-USDlong	+0.0050%	1h	196.63	long leg	$133K	$1.2M	10x
SoDEX COIN-USD	+0.0050%	1h	196.68	+0.025%	$83	$3K	10x	as long as short
Ondo Perps COIN-USD.P	+0.0050%	1h	196.45	−0.092%	$361K	$2.7M	10x	as long as short
Lighter COIN	+0.0088%	1h	196.66	+0.014%	$341K	$2.0M	10x	as long as short
KuCoin COINUSDTM	+0.0100%	8h	196.75	+0.061%	$992K	$143K	20x	as long as short
ApeX Omni COINUSDT	+0.0100%	1h	196.71	+0.041%	$88K	$287K	50x	as long as short
Orderly PERP_COIN_USDC_mythosshort	+0.0100%	8h	196.67	+0.020%	$569	$4K	10x
Aevo COIN-PERP	+0.0104%	1h	196.70	+0.035%	$116	—	10x	as long as short
BloFin COIN-USDT	+0.0120%	8h	196.77	+0.071%	$188K	$393K	20x	as long as short
Phoenix COIN	+0.0122%	1h	196.74	+0.056%	$4K	$283K	10x	as long as short
edgeX COINUSDC	+0.0537%	4h	196.77	+0.072%	$51K	$294K	10x	as long as short