Funding you earn now, next payment 09:00 UTC−0.0050%/8h= −5.5% APRnext payment −$0.06 per $10,000 · paid last 24h −0.014%
Price spread now: Bullet against Polymarket Perps−0.025%7-day average +0.020% · 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−$1,101as in the Price arb table
costs, in and out, $10k−$1,09610.964% of the position
Funding, last 4 days (all we have)−0.044%−$4 on $10k
+Price spread, last 4 days (all we have)+0.052%+$5 · spread now −0.025%, 7d avg +0.020%
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Bullet is 0.045% 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 +0.020%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Polymarket Perps SP500-USD | 7,744.8 | 0.0050 | pay 0.0006% / 1h | 29m 07s | $9.0M | $2.2M | 50x |
| Short | Bullet US500-USD | 7,742.8 | 0 | get 0.0000% / 1h | 29m 07s | $13K | $105K | 10x |
Polymarket Perps SP500-USD
Bullet US500-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bullet 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$10.5
- Price spread: −0.025% → +0.020%
- −$4.53
- Slippage, 4 orders
- −$1,080.41
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Bullet: 4 bp × 2 orders
- −$8
- Net
- −$1,111.44
- Costs to cover
- 10.964%
- Break-even
- never at this rate
Slippage from Polymarket Perps: live order book, 5 min ago; Bullet: live order book, 5 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, 5 min ago | 196.08 bp | 548.6 bp −$549 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bullet live order book, 5 min ago | 0.51 bp | 6.3 bp −$6 | 20.0 bp −$200 | doesn't fit | doesn't fit |
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 | 7,663.3 | −1.052% | $7K | $104 | 52x | as long as short |
| Extended SPX500m-USD | −0.0064% | 1h | 7,744.9 | +0.001% | $3.3M | $11.2M | 25x | as long as short |
| QFEX US500-USD | −0.0042% | 1h | 7,743.1 | −0.022% | $9.9M | $3.1M | 30x | as long as short |
| OKX US500-USDT-SWAP | 0.0000% | 8h | 7,748.5 | +0.048% | $141K | $229K | 20x | as long as short |
| Bitget SP500USDT | 0.0000% | 8h | 7,750.9 | +0.079% | $7.2M | $768K | 50x | as long as short |
| Variational Omni US500 | 0.0000% | 8h | 7,722 | −0.295% | $17.5M | $8.3M | — | as long as short |
| Bullet US500-USDshort | 0.0000% | 1h | 7,742.8 | −0.025% | $13K | $105K | 10x | |
| tradeXYZ xyz:SP500 | +0.0002% | 1h | 7,742.3 | −0.032% | $427.8M | $238.4M | 50x | as long as short |
| Lighter US500 | +0.0032% | 1h | 7,742.2 | −0.034% | $2.0M | $28.2M | 50x | as long as short |
| Markets by Kinetiq mkts:US500 | +0.0046% | 1h | 7,716.2 | −0.369% | $1.6M | $7.5M | 25x | as long as short |
Injective US500/USDC PERP
Extended SPX500m-USD
QFEX US500-USD
OKX US500-USDT-SWAP
Bitget SP500USDT
Variational Omni US500
tradeXYZ xyz:SP500
Lighter US500
Markets by Kinetiq mkts:US500Show all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Vest SPX-USD-PERP | +0.0046% | 1h | 7,811.1 | +0.856% | — | $4.3M | 50x | as long as short |
| Popdex US500USDT | +0.0048% | 1h | 7,745.8 | +0.013% | $623K | $508K | 20x | as long as short |
| Paradex US500-USD-PERP | +0.0050% | 8h | 7,744.1 | −0.009% | $42K | — | 5x | as long as short |
| Polymarket Perps SP500-USDlong | +0.0050% | 1h | 7,744.8 | long leg | $9.0M | $2.2M | 50x | |
| SoDEX US500-USD | +0.0050% | 1h | 7,742.4 | −0.031% | $1.3M | $191K | 20x | as long as short |
| Ondo Perps US500-USD.P | +0.0050% | 1h | 7,744.6 | −0.002% | $9.5M | $8.3M | 25x | as long as short |
| Pacifica SP500 | +0.0100% | 1h | 7,746.7 | +0.025% | $258K | $173K | 20x | as long as short |
| Aftermath Perps US500USD | +0.0334% | 1h | 7,745.9 | +0.015% | $535 | $30K | 10x | as long as short |
Vest SPX-USD-PERP
Popdex US500USDT
Paradex US500-USD-PERP
SoDEX US500-USD
Ondo Perps US500-USD.P
Pacifica SP500
Aftermath Perps US500USD