Funding arb · Price arb /

SOXL

RWAall SOXL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0219%/8h= +24.0% APRpaid last 24h −0.063%

Price spread now: Polymarket Perps against OKX−0.070%47s7-day average +0.009% · 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−$280.285% of the position

Long on OKX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.103%+$10 on $10k

Price spread, last 3 days (all we have)+0.259%+$26 · spread now −0.070%, 7d avg +0.009%

Together, before fees+0.362%+$36 on $10k · with fees, hour by hour

Funding pays, the price is against you. Polymarket Perps is 0.079% cheaper against OKX than usual: you would sell low and buy high (spread −0.070% now, against its 7-day average of +0.009%). If the spread goes back, that is −$8 on $10k: about 29 hours of funding at the current rate (+$7 a day). At the pace of the last 5 days (+0.103% in total) that is about 4.0 days. The two prices were read 47 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 5 days it paid 0.103% in total (about 7.2% a year). A funding rate is set anew for every payment. 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	OKX SOXL-USDT-SWAP	142.48	0	get 0.0000% / 8h	1h 47m	$24.9M	$186.2M	20x
Short	Polymarket Perps SOXL-USD	142.38	0.0219	get 0.0027% / 1h	47m 37s	$6K	$265K	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 −0.070%Rate

Funding earned: $46
Price spread: −0.070% → +0.009%: −$7.95
Slippage, 4 orders: −$10.48
Fee OKX: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $9.57
Costs to cover: 0.285%
Break-even: 5.5 days

Slippage from OKX: live order book, 1 min ago; Polymarket Perps: live order book, 34 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	0.35 bp	5.8 bp −$6	7.1 bp −$71	18.9 bp −$1,888	doesn't fit
Sell Polymarket Perps live order book, 34 min ago	3.86 bp	9.2 bp −$9	11.0 bp −$110	doesn't fit	doesn't fit

SOXL on 28 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
BloFin SOXL-USDT	−0.0005%	8h	142.50	+0.014%	$1.2M	$519K	50x	as long as short
Aster SOXLUSDT	0.0000%	8h	142.46	−0.017%	$213K	$1.7M	50x	as long as short
Extended SOXL-USD	0.0000%	1h	142.42	−0.042%	$25K	$336K	10x	as long as short
Binance SOXLUSDT	0.0000%	8h	142.45	−0.021%	$165.9M	$1.20B	50x	as long as short
OKX SOXL-USDT-SWAPlong	0.0000%	8h	142.48	long leg	$24.9M	$186.2M	20x
Gate SOXL_USDT	0.0000%	8h	142.44	−0.028%	$25.6M	$40.1M	50x	as long as short
MEXC SOXL_USDT	0.0000%	8h	142.45	−0.021%	$16.4M	$45.6M	200x	as long as short
Bitget SOXLUSDT	0.0000%	8h	142.43	−0.035%	$59.1M	$110.2M	20x	as long as short
Variational Omni SOXL	0.0000%	8h	142.63	+0.107%	$2.2M	$5.0M	—	as long as short
GRVT SOXL_USDT_Perp	0.0000%	8h	142.66	+0.125%	$70K	$196K	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX SOXL-USDT	0.0000%	8h	142.36	−0.084%	$2K	$4.8M	10x	as long as short
HTX SOXL-USDT	0.0000%	8h	142.51	+0.021%	$190K	$534K	50x	as long as short
Phemex SOXLUSDT	0.0000%	8h	142.38	−0.070%	$2.5M	$1.2M	10x	as long as short
Bybit SOXLUSDT	+0.0017%	8h	142.51	+0.021%	$50.4M	$182.9M	100x	as long as short
Lighter SOXL	+0.0032%	1h	142.41	−0.049%	$767K	$2.7M	20x	as long as short
Lighter RH SOXL	+0.0032%	1h	142.43	−0.035%	$323K	$2.0M	20x	as long as short
QFEX SOXL-USD	+0.0038%	1h	142.48	0.000%	$303K	$259K	30x	as long as short
tradeXYZ xyz:SOXL	+0.0050%	1h	142.42	−0.042%	$25.5M	$23.4M	10x	as long as short
Ondo Perps SOXL-USD.P	+0.0050%	1h	142.47	−0.007%	$205K	$889K	10x	as long as short
KuCoin SOXLUSDTM	+0.0100%	8h	142.45	−0.021%	$6.7M	$11.4M	20x	as long as short
ApeX Omni SOXLUSDT	+0.0100%	1h	142.51	+0.021%	$38K	$143K	50x	as long as short
Orderly PERP_SOXL_USDC_mythos	+0.0100%	8h	142.34	−0.098%	$1K	$5K	20x	as long as short
Aevo SOXL-PERP	+0.0104%	1h	142.35	−0.094%	$5K	—	10x	as long as short
Coinbase International SOXL-PERP-INTX	+0.0136%	1h	142.63	+0.105%	$747K	$2.6M	10x	as long as short
Deribit SOXL_USDC-PERPETUAL	+0.0172%	1h	142.32	−0.112%	$116K	$380K	10x	as long as short
Polymarket Perps SOXL-USDshort	+0.0219%	1h	142.38	−0.070%	$6K	$265K	10x
Kraken Futures PF_SOXLUSD	+0.0302%	1h	142.29	−0.134%	$88K	$311K	20x	as long as short
edgeX SOXLUSDC	+0.0419%	4h	142.59	+0.078%	$178K	$320K	10x	as long as short