Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: OKX against Polymarket Perps+0.083%7-day average +0.047% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$270.268% of the position

Long on Polymarket Perps Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.111%−$11 on $10k

Price spread, last 4 days (all we have)−0.089%−$9 · spread now +0.083%, 7d avg +0.047%

Together, before fees−0.200%−$20 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.035% dearer against Polymarket Perps than usual: you sell high and buy low (spread +0.083% now, against its 7-day average of +0.047%): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps AAPL-USD	338.84	0.0050	pay 0.0006% / 1h	51m 19s	$262K	$371K	10x
Short	OKX AAPL-USDT-SWAP	339.12	0	get 0.0000% / 8h	5h 51m	$6.3M	$6.8M	25x

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 +0.083%Rate

Funding earned: −$10.5
Price spread: +0.083% → +0.047%: $3.52
Slippage, 4 orders: −$8.84
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$33.83
Costs to cover: 0.268%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 11 min ago; OKX: live order book, 2 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, 11 min ago	1.48 bp	6.0 bp −$6	7.8 bp −$78	8.9 bp −$889	doesn't fit
Sell OKX live order book, 2 min ago	0.15 bp	6.7 bp −$7	11.1 bp −$111	doesn't fit	doesn't fit

AAPL on 32 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
edgeX AAPLUSDC	−0.0552%	4h	339.08	+0.070%	$81K	$326K	20x	as long as short
Nado AAPL-PERP	−0.0079%	1h	339.05	+0.062%	$555K	$38K	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	339.08	+0.071%	$122K	$291K	20x	as long as short
Bybit AAPLUSDT	0.0000%	8h	339.15	+0.091%	$6.0M	$39.1M	100x	as long as short
OKX AAPL-USDT-SWAPshort	0.0000%	8h	339.12	+0.083%	$6.3M	$6.8M	25x
Gate AAPL_USDT	0.0000%	8h	338.88	+0.012%	$3.0M	$4.2M	100x	as long as short
Bitget AAPLUSDT	0.0000%	8h	339.16	+0.094%	$6.2M	$3.5M	100x	as long as short
Variational Omni AAPL	0.0000%	8h	339.21	+0.111%	$2.4M	$1.4M	—	as long as short
GRVT AAPL_USDT_Perp	0.0000%	8h	339.17	+0.097%	$17K	$433K	10x	as long as short
SunX AAPL-USDT	0.0000%	8h	339.13	+0.086%	$627	$4.7M	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit AAPL_USDC-PERPETUAL	0.0000%	1h	338.93	+0.027%	$28K	$67K	10x	as long as short
HTX AAPL-USDT	0.0000%	8h	339.27	+0.127%	$53K	$225K	30x	as long as short
Phemex AAPLUSDT	0.0000%	4h	339.17	+0.097%	$2.1M	$6K	10x	as long as short
Binance AAPLUSDT	+0.0006%	8h	339.14	+0.089%	$22.3M	$67.0M	25x	as long as short
Extended AAPL_24_5-USD	+0.0008%	1h	339.05	+0.062%	$288K	$2.0M	10x	as long as short
QFEX AAPL-USD	+0.0013%	1h	339.05	+0.062%	$3.3M	$4.9M	10x	as long as short
Lighter AAPL	+0.0032%	1h	338.98	+0.041%	$754K	$2.4M	20x	as long as short
Lighter RH AAPL	+0.0032%	1h	339.02	+0.053%	$949K	$3.5M	20x	as long as short
Arcus AAPL-USD	+0.0040%	1h	339.02	+0.053%	$270K	$70K	20x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	338.95	+0.032%	—	$45K	25x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0048%	1h	338.98	+0.041%	$656K	$664K	10x	as long as short
tradeXYZ xyz:AAPL	+0.0050%	1h	339.05	+0.062%	$40.7M	$75.8M	20x	as long as short
Polymarket Perps AAPL-USDlong	+0.0050%	1h	338.84	long leg	$262K	$371K	10x
SoDEX AAPL-USD	+0.0050%	1h	339.02	+0.053%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	338.87	+0.009%	$1.3M	$2.5M	20x	as long as short
KuCoin AAPLUSDTM	+0.0100%	8h	339.09	+0.074%	$1.4M	$27K	20x	as long as short
ApeX Omni AAPLUSDT	+0.0100%	1h	338.97	+0.038%	$947K	$11.0M	50x	as long as short
Orderly PERP_AAPL_USDC_mythos	+0.0100%	8h	339.02	+0.053%	$4K	—	10x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	339.02	+0.054%	$11K	—	10x	as long as short
Hotstuff AAPL-PERP	+0.0128%	1h	339.04	+0.059%	$36K	—	20x	as long as short
Injective AAPL/USDC PERP	+0.0220%	1h	338.90	+0.018%	$191K	$44K	30x	as long as short
Phoenix AAPL	+0.0259%	1h	339.13	+0.086%	$5K	$11K	20x	as long as short