Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.032%

Price spread now: Polymarket Perps against OKX−0.009%7-day average −0.062% · you buy dearer than you sell

Net, funding: paid 7d − costs−$21as in the Funding arb table

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

costs, in and out, $10k−$340.338% of the position

Long on OKX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.127%+$13 on $10k

Price spread, last 7 days−0.034%−$3 · spread now −0.009%, 7d avg −0.062%

Together, before fees+0.093%+$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Polymarket Perps is 0.052% dearer against OKX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.062%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX META-USDT-SWAP	740.29	0	get 0.0000% / 8h	6h 01m	$5.9M	$13.3M	20x
Short	Polymarket Perps META-USD	740.22	0.0050	get 0.0006% / 1h	1m 46s	$558K	$547K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against OKX. 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 OKXbpFee Polymarket PerpsbpOrdersPrice spread, now −0.009%Rate

Funding earned: $10.5
Price spread: −0.009% → −0.062%: $5.21
Slippage, 4 orders: −$15.83
Fee OKX: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$18.11
Costs to cover: 0.338%
Break-even: 19.1 days

Slippage from OKX: live order book, 1 min ago; Polymarket Perps: live order book, 66 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 OKX live order book, 1 min ago	0.07 bp	10.8 bp −$11	20.4 bp −$204	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 66 min ago	1.89 bp	7.3 bp −$7	8.1 bp −$81	8.9 bp −$893	doesn't fit

META 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
Nado META-PERP	−0.0113%	1h	740.17	−0.016%	$478K	$549K	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.81	+0.070%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.40	+0.016%	$547K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.57	+0.038%	$27.3M	$178.8M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.27	−0.003%	$7.5M	$13.7M	100x	as long as short
OKX META-USDT-SWAPlong	0.0000%	8h	740.29	long leg	$5.9M	$13.3M	20x
Gate META_USDT	0.0000%	8h	740.30	+0.001%	$354K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.42	+0.018%	$5.5M	$11.3M	100x	as long as short
Variational Omni META	0.0000%	8h	740.47	+0.024%	$2.3M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.46	+0.023%	$12K	$432K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	740.27	−0.003%	$1K	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	739.94	−0.047%	$31K	$244K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.24	−0.007%	$105K	$295K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.49	+0.027%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0025%	1h	740.32	+0.004%	$2.1M	$13.7M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.68	+0.053%	$762K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	739.98	−0.042%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.55	+0.035%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.46	+0.023%	$176K	$197K	20x	as long as short
Polymarket Perps META-USDshort	+0.0050%	1h	740.22	−0.009%	$558K	$547K	10x
SoDEX META-USD	+0.0050%	1h	740.52	+0.031%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.94	−0.047%	$697K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0055%	8h	740.29	0.000%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0070%	1h	740.90	+0.082%	$49K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.50	+0.028%	$1.6M	$497K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.73	−0.076%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.48	+0.026%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.33	+0.005%	$267	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	740.66	+0.050%	$609K	$7.1M	10x	as long as short
Hotstuff META-PERP	+0.0128%	1h	740.44	+0.020%	$33K	$105	20x	as long as short
Lighter META	+0.0144%	1h	740.69	+0.054%	$860K	$2.4M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.18	+0.255%	$171K	$48K	30x	as long as short
tradeXYZ xyz:META	+0.0242%	1h	740.56	+0.036%	$68.3M	$119.7M	20x	as long as short
Phoenix META	+0.0313%	1h	741.11	+0.111%	$464K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0925%	4h	740.30	+0.001%	$62K	$335K	10x	as long as short