Funding arb · Price arb /

SP500

RWAall SP500 markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h −0.004%

Price spread now: Polymarket Perps against Ondo Perps−0.025%50s7-day average −0.013% · you buy dearer than you sell

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

Long on Ondo Perps Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.013%−$1 on $10k

Price spread, last 7 days+0.045%+$4 · spread now −0.025%, 7d avg −0.013%

Together, before fees+0.031%+ Points / potential airdropOndo Perps: Active · farm board+$3 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps US500-USD.P	7,765.6	0.0050	pay 0.0006% / 1h	40m 36s	$9.5M	$7.2M	25x
Short	Polymarket Perps SP500-USD	7,763.6	0.0050	get 0.0006% / 1h	40m 36s	$9.0M	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Ondo 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 Ondo PerpsbpFee Polymarket PerpsbpOrdersPrice spread, now −0.025%Rate

Funding earned: −$0.08
Price spread: −0.025% → −0.013%: −$1.23
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$14.32
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; Polymarket Perps: live order book, 4 min ago. 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Polymarket Perps live order book, 4 min ago	0.06 bp	4.6 bp −$5	5.2 bp −$52	5.3 bp −$532	10.8 bp −$5,380

Ondo Perps: 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.

SP500 on 18 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
Injective US500/USDC PERP	−0.0220%	1h	7,667.2	−1.266%	$7K	$104	52x	as long as short
QFEX US500-USD	−0.0031%	1h	7,765.4	−0.002%	$11.9M	$3.2M	30x	as long as short
OKX US500-USDT-SWAP	0.0000%	8h	7,766.2	+0.008%	$152K	$234K	20x	as long as short
Bitget SP500USDT	0.0000%	8h	7,772.4	+0.088%	$7.2M	$759K	50x	as long as short
Variational Omni US500	0.0000%	8h	7,740.6	−0.322%	$17.2M	$8.8M	—	as long as short
Bullet US500-USD	0.0000%	1h	7,764.6	−0.012%	$12K	$108K	10x	as long as short
Lighter US500	+0.0032%	1h	7,763.5	−0.026%	$2.2M	$28.5M	50x	as long as short
Extended SPX500m-USD	+0.0032%	1h	7,765.7	+0.002%	$3.2M	$15.6M	25x	as long as short
Markets by Kinetiq mkts:US500	+0.0046%	1h	7,736.9	−0.369%	$1.6M	$7.0M	25x	as long as short
Vest SPX-USD-PERP	+0.0046%	1h	7,830.6	+0.838%	—	$4.1M	50x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex US500USDT	+0.0048%	1h	7,766.3	+0.010%	$545K	$439K	20x	as long as short
Paradex US500-USD-PERP	+0.0050%	8h	7,763.2	−0.030%	$43K	—	5x	as long as short
tradeXYZ xyz:SP500	+0.0050%	1h	7,764.5	−0.014%	$433.3M	$241.4M	50x	as long as short
Polymarket Perps SP500-USDshort	+0.0050%	1h	7,763.6	−0.025%	$9.0M	$2.3M	50x
SoDEX US500-USD	+0.0050%	1h	7,764.6	−0.012%	$1.1M	$85K	20x	as long as short
Ondo Perps US500-USD.Plong	+0.0050%	1h	7,765.6	long leg	$9.5M	$7.2M	25x
Pacifica SP500	+0.0100%	1h	7,765.8	+0.003%	$261K	$178K	20x	as long as short
Aftermath Perps US500USD	+0.0303%	1h	7,766	+0.006%	$564	$22K	10x	as long as short