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Funding arb · Price arb /

ETH

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 02:00 UTC+0.0064%/8h= +7.0% APRpaid last 24h +0.019%
Price spread now: Polymarket Perps against OKX−0.020%7-day average +0.016% · you buy dearer than you sell
Net, funding: paid 7d − costs−$9as in the Funding arb table
Net, price: spread back to 7d avg − costs−$23as in the Price arb table
costs, in and out, $10k−$190.190% of the position
Long on OKXShort on Polymarket Perps
What this pair did over the last
the charts below follow
Funding, last 7 days+0.095%+$9 on $10k
Price spread, last 7 days+0.015%+$1 · spread now −0.020%, 7d avg +0.016%
Together, before fees+0.110%+$11 on $10k · with fees, hour by hour
Funding pays, the price is against you. Polymarket Perps is 0.037% cheaper against OKX than usual: you would sell low and buy high (spread −0.020% now, against its 7-day average of +0.016%). If the spread goes back, that is −$4 on $10k: about 46 hours of funding at the current rate (+$2 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOKX ETH-USDT-SWAP2,749.80.0036pay 0.0036% / 8h6h 46m$1.68B$11.10B100x
ShortPolymarket Perps ETH-USD2,749.20.0100get 0.0013% / 1h46m 24s$10.4M$8.0M50x

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

Funding earned
$13.39
Price spread: −0.020% → +0.016%
−$3.68
Slippage, 4 orders
−$0.96
Fee OKX: 5 bp × 2 orders
−$10
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Net
−$9.25
Costs to cover
0.190%
Break-even
11.8 days
Slippage from OKX: live order book, 3 min ago; Polymarket Perps: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy OKX live order book, 3 min ago0.02 bp5.0 bp −$55.0 bp −$505.7 bp −$5757.7 bp −$3,870
Sell Polymarket Perps live order book, 3 min ago0.18 bp4.7 bp −$56.1 bp −$6113.5 bp −$1,352doesn't fit

ETH on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Perpl ETH−0.0447%43m2,751.5+0.064%$315K$6.2M8.3xas long as short
ApeX Omni ETHUSDT−0.0175%1h2,753.4+0.134%$8.8M$31.6M100xas long as short
Hotstuff ETH-PERP−0.0080%1h2,751.5+0.063%$5K$1K50xas long as short
RISEx ETH/USDC−0.0071%1h2,750.7+0.033%$5.5M$11.3M25xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,749.8+0.003%$12.0M—200xas long as short
Phoenix ETH−0.0006%1h2,756.3+0.238%$865K$3.1M25xas long as short
dYdX ETH-USD0.0000%1h2,752+0.083%$10.9M$41.9M50xas long as short
gTrade (Gains Network) ETH/USDL +0.0006% / S −0.0006%1h2,750+0.009%$22.2M—200xas long as short
01 Exchange ETHUSD+0.0008%1h2,750.6+0.031%$181K$1.1M50xas long as short
BingX ETH-USDT+0.0028%8h2,749.6−0.007%—$1.20B—as long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX ETH-USDT-SWAPlong+0.0036%8h2,749.8long leg$1.68B$11.10B100x
Deribit ETH-PERPETUAL+0.0037%1h2,750.6+0.031%$258.8M$201.9M50xas long as short
Aster ETHUSDT+0.0055%8h2,751+0.045%$255.8M$856.9M200xas long as short
HTX ETH-USDT+0.0058%8h2,749.7−0.002%$1.07B$1.22B200xas long as short
Aevo ETH-PERP+0.0064%1h2,746.8−0.107%$4.9M$168K20xas long as short
MEXC ETH_USDT+0.0065%8h2,749.5−0.010%$1.58B$2.53B500xas long as short
Binance ETHUSDT+0.0066%8h2,749.4−0.012%$6.35B$16.32B150xas long as short
Gate ETH_USDT+0.0068%8h2,749.8+0.002%$3.33B$8.75B200xas long as short
KuCoin ETHUSDTM+0.0080%8h2,749.4−0.012%$383.9M$606.6M100xas long as short
Bitget ETHUSDT+0.0085%8h2,749.80.000%$2.07B$2.86B150xas long as short
Coinbase International ETH-PERP-INTX+0.0088%1h2,750.6+0.031%$59.6M$4.40B50xas long as short
Lighter ETH+0.0096%1h2,750.8+0.037%$113.2M$439.4M50xas long as short
Lighter RH ETH+0.0096%1h2,752.9+0.116%$25.0M$106.0M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0056%1h2,750.7+0.033%—$35.6M500xas long as short
Aftermath Perps ETHUSD+0.0097%1h2,751.5+0.063%$30K$21K20xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,753.8+0.147%$15.9M$8.2M50xas long as short
Katana Perps ETH-USD+0.0100%8h2,749.8+0.001%$469K$2.9M50xas long as short
Nado ETH-PERP+0.0100%1h2,749.5−0.009%$14.0M$113.3M50xas long as short
Hyperliquid ETH+0.0100%1h2,752.1+0.085%$3.13B$2.14B25xas long as short
Pacifica ETH+0.0100%1h2,751.1+0.050%$31.6M$333.7M50xas long as short
Bybit ETHUSDT+0.0100%8h2,750.2+0.015%$2.47B$4.36B150xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,750.5+0.027%$2.8M$16.7M25xas long as short
Arcus ETH-USD+0.0100%1h2,751.2+0.052%$2.8M$16.8M25xas long as short
Bulk ETH-USD+0.0100%1h2,751.4+0.059%$167.5M$300.9M25xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,749.9+0.005%$15.0M$42.4M50xas long as short
Variational Omni ETH+0.0100%8h2,750+0.008%$133.2M$346.7M—as long as short
edgeX ETHUSDC+0.0100%4h2,752.9+0.115%$184.4M$735.6M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,753.1+0.121%$160.1M$82.7M50xas long as short
StandX ETH-USD+0.0100%1h2,752.3+0.092%$21.3M$66.5M40xas long as short
Vest ETH-PERP+0.0100%1h2,750.9+0.040%—$871K50xas long as short
Polymarket Perps ETH-USDshort+0.0100%1h2,749.2−0.020%$10.4M$8.0M50x
Bullet ETH-USD+0.0100%1h2,749.5−0.010%$183K$1.7M20xas long as short
Bluefin ETH-PERP+0.0100%1h2,750.6+0.029%$21K$22K25xas long as short
Derive ETH-PERP+0.0100%1h2,751.4+0.060%$42.0M$29.0M15xas long as short
SunX ETH-USDT+0.0100%8h2,750.3+0.020%$965K$12.6M100xas long as short
SoDEX ETH-USD+0.0100%1h2,749.6−0.006%$54.8M$187.6M40xas long as short
Phemex ETHUSDT+0.0100%8h2,750.2+0.017%$267.6M$66.3M150xas long as short
Extended ETH-USD+0.0104%1h2,748.9−0.030%$30.8M$74.6M50xas long as short
Kalshi KXETHPERP+0.0134%8h2,751.3+0.056%$7.7M$672.9M4.9xas long as short
Orderly PERP_ETH_USDC+0.0161%8h2,751.9+0.077%$32.4M$11.3M100xas long as short
Hibachi ETH/USDT-P+0.0176%1h2,752.2+0.088%$250K$1.5M20xas long as short
BloFin ETH-USDT+0.0180%8h2,752.8+0.112%$285.0M$179.1M150xas long as short
Injective ETH/USDC PERP+0.0209%1h2,750.5+0.027%$118K$22.5M52xas long as short
Reya ETHRUSDPERP+0.0217%1h2,749.3−0.018%$7.3M$1.1M25xas long as short
Kraken Futures PF_ETHUSD+0.0354%1h2,750.5+0.028%$92.9M$315.9M100xas long as short