Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0218%/8h= +23.9% APRpaid last 24h +0.041%

Price spread now: Polymarket Perps against Binance+0.003%46s7-day average −0.042% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$250.254% of the position

Long on Binance Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.243%+$24 on $10k

Price spread, last 7 days−0.046%−$5 · spread now +0.003%, 7d avg −0.042%

Together, before fees+0.198%+$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Polymarket Perps is 0.045% dearer against Binance than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.042%. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CLUSDT	93.400	−0.0168	get 0.0084% / 4h	2h 03m	$246.3M	$930.9M	100x
Short	Polymarket Perps WTIOIL-USD	93.403	0.0050	get 0.0006% / 1h	3m 46s	$1.7M	$1.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Binance. 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 BinancebpFee Polymarket PerpsbpOrdersPrice spread, now +0.003%Rate

Funding earned: $45.75
Price spread: +0.003% → −0.042%: $4.53
Slippage, 4 orders: −$7.38
Fee Binance: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $24.9
Costs to cover: 0.254%
Break-even: 3.2 days

Slippage from Binance: live order book, 10 min ago; Polymarket Perps: 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 Binance live order book, 10 min ago	0.54 bp	5.5 bp −$6	5.5 bp −$55	9.5 bp −$954	22.7 bp −$11.3K
Sell Polymarket Perps live order book, 5 min ago	2.36 bp	6.7 bp −$7	7.3 bp −$73	10.1 bp −$1,013	doesn't fit

CL on 36 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
Deribit WTIOIL_USDC-PERPETUAL	−0.0285%	1h	93.390	−0.011%	$196K	$377K	15x	as long as short
GRVT CL_USDT_Perp	−0.0274%	4h	93.368	−0.035%	$58K	$629K	25x	as long as short
Aster CLUSD1	−0.0274%	4h	93.430	+0.032%	$24.4M	$64.5M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0204%	1h	93.437	+0.040%	$285K	$959K	25x	as long as short
Binance CLUSDTlong	−0.0168%	4h	93.400	long leg	$246.3M	$930.9M	100x
Variational Omni CL	−0.0163%	4h	93.349	−0.055%	$13.4M	$10.9M	—	as long as short
Aftermath Perps WTIUSD	−0.0148%	1h	93.406	+0.006%	$2K	$26K	5x	as long as short
Bitget CLUSDT	−0.0120%	4h	93.382	−0.019%	$42.1M	$42.7M	100x	as long as short
Nado WTI-PERP	−0.0105%	1h	93.458	+0.062%	$971K	$630K	10x	as long as short
Gate CL_USDT	−0.0083%	8h	93.320	−0.086%	$22.1M	$50.4M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps WTI-USD.P	−0.0076%	1h	93.370	−0.032%	$3.5M	$5.4M	20x	as long as short
tradeXYZ xyz:CL	−0.0076%	1h	93.390	−0.011%	$184.8M	$212.3M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.500	+0.107%	$404K	$931K	15x	as long as short
OKX CL-USDT-SWAP	−0.0036%	4h	93.400	0.000%	$42.6M	$101.8M	50x	as long as short
QFEX CL-USD	−0.0032%	1h	93.400	0.000%	$2.3M	$2.5M	10x	as long as short
edgeX CLUSDC	−0.0001%	4h	93.375	−0.026%	$525K	$306K	30x	as long as short
dYdX WTI-USD	0.0000%	1h	93.405	+0.006%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.420	+0.021%	$27.0M	$79.5M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.425	+0.027%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.540	+0.150%	$38K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.422	+0.024%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.961	−0.470%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0021%	8h	93.383	−0.018%	$16K	$367	5x	as long as short
Lighter WTI	+0.0024%	1h	93.401	+0.001%	$11.3M	$10.0M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.420	+0.021%	$2.0M	$16.6M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.410	+0.011%	$739K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.400	0.000%	—	$313K	10x	as long as short
Pacifica CL	+0.0047%	1h	93.405	+0.005%	$332K	$577K	10x	as long as short
Polymarket Perps WTIOIL-USDshort	+0.0050%	1h	93.403	+0.003%	$1.7M	$1.3M	20x
SoDEX CL-USD	+0.0050%	1h	93.418	+0.019%	$2.1M	$60K	20x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.417	+0.018%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.460	+0.064%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.384	−0.017%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0202%	4h	93.370	−0.032%	$4.0M	$988K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.64	+9.898%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0241% / S −0.0174%	1h	93.415	+0.016%	$84K	—	111x	as long as short