Funding arb · Price arb /

SOXL

RWAall SOXL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.1468%/8h= −160.7% APRpaid last 24h −0.060%

Price spread now: OKX against Polymarket Perps−0.062%47s7-day average −0.010% · 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−$280.279% of the position

Long on Polymarket Perps Short on OKX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.106%−$11 on $10k

Price spread, last 3 days (all we have)−0.073%−$7 · spread now −0.062%, 7d avg −0.010%

Together, before fees−0.179%−$18 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$44 a day on $10k at the current rate, and OKX is 0.052% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.010%). Swap the legs. 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 -0.106% 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	Polymarket Perps SOXL-USD	145.42	0.1514	pay 0.0189% / 1h	52m 42s	$5K	$266K	10x
Short	OKX SOXL-USDT-SWAP	145.33	0.0046	get 0.0046% / 8h	7h 52m	$25.6M	$183.1M	20x

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 −0.062%Rate

Funding earned: −$308.28
Price spread: −0.062% → −0.010%: −$5.21
Slippage, 4 orders: −$9.9
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$341.39
Costs to cover: 0.279%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 19 min ago; OKX: live order book, 1 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, 19 min ago	3.80 bp	7.8 bp −$8	9.3 bp −$93	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	0.34 bp	5.4 bp −$5	7.0 bp −$70	22.6 bp −$2,260	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
Aster SOXLUSDT	0.0000%	8h	145.09	−0.229%	$214K	$1.6M	50x	as long as short
Gate SOXL_USDT	0.0000%	8h	145.32	−0.069%	$28.1M	$38.0M	50x	as long as short
Bitget SOXLUSDT	0.0000%	8h	145.31	−0.076%	$61.2M	$108.8M	20x	as long as short
SunX SOXL-USDT	0.0000%	8h	145.17	−0.172%	$1K	$4.6M	10x	as long as short
HTX SOXL-USDT	0.0000%	8h	145.31	−0.076%	$183K	$591K	50x	as long as short
Phemex SOXLUSDT	0.0000%	8h	145.36	−0.041%	$2.5M	$1.2M	10x	as long as short
Variational Omni SOXL	+0.0022%	8h	145.51	+0.059%	$2.2M	$5.0M	—	as long as short
Lighter RH SOXL	+0.0032%	1h	145.31	−0.076%	$344K	$1.8M	20x	as long as short
OKX SOXL-USDT-SWAPshort	+0.0046%	8h	145.33	−0.062%	$25.6M	$183.1M	20x
MEXC SOXL_USDT	+0.0069%	8h	145.32	−0.069%	$14.3M	$46.7M	200x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX SOXL-USD	+0.0070%	1h	145.29	−0.089%	$269K	$272K	30x	as long as short
Extended SOXL-USD	+0.0072%	1h	145.30	−0.080%	$25K	$318K	10x	as long as short
Binance SOXLUSDT	+0.0073%	8h	145.31	−0.076%	$174.8M	$1.19B	50x	as long as short
BloFin SOXL-USDT	+0.0075%	8h	145.32	−0.069%	$1.2M	$487K	50x	as long as short
KuCoin SOXLUSDTM	+0.0100%	8h	145.16	−0.179%	$6.9M	$10.6M	20x	as long as short
ApeX Omni SOXLUSDT	+0.0100%	1h	145.40	−0.014%	$38K	$142K	50x	as long as short
Orderly PERP_SOXL_USDC_mythos	+0.0100%	8h	145.28	−0.096%	$1K	$5K	20x	as long as short
Lighter SOXL	+0.0104%	1h	145.26	−0.110%	$808K	$2.5M	20x	as long as short
Aevo SOXL-PERP	+0.0104%	1h	144.91	−0.354%	$6K	—	10x	as long as short
Coinbase International SOXL-PERP-INTX	+0.0208%	1h	145.27	−0.103%	$1.1M	$2.2M	10x	as long as short
Ondo Perps SOXL-USD.P	+0.0274%	1h	144.91	−0.351%	$239K	$833K	10x	as long as short
Kraken Futures PF_SOXLUSD	+0.0428%	1h	145.33	−0.059%	$89K	$302K	20x	as long as short
Bybit SOXLUSDT	+0.0526%	8h	145.34	−0.055%	$52.5M	$178.7M	100x	as long as short
Deribit SOXL_USDC-PERPETUAL	+0.0577%	1h	145.30	−0.083%	$118K	$276K	10x	as long as short
edgeX SOXLUSDC	+0.0884%	4h	145.56	+0.100%	$182K	$320K	10x	as long as short
GRVT SOXL_USDT_Perp	+0.0930%	8h	145.65	+0.158%	$72K	$157K	10x	as long as short
tradeXYZ xyz:SOXL	+0.0952%	1h	145.23	−0.131%	$26.5M	$20.6M	10x	as long as short
Polymarket Perps SOXL-USDlong	+0.1514%	1h	145.42	long leg	$5K	$266K	10x