CL

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0440%/8h= +48.2% APRnext payment +$0.55 per $10,000 · paid last 24h +0.060%

Price spread now: Polymarket Perps against Deribit−0.019%7-day average +0.021% · 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−$28as in the Price arb table

costs, in and out, $10k−$240.245% of the position

Long on Deribit Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.122%+$12 on $10k

Price spread, last 4 days (all we have)+0.113%+$11 · spread now −0.019%, 7d avg +0.021%

Together, before fees+0.235%+$24 on $10k · with fees, hour by hour

Funding pays, the price is against you. Polymarket Perps is 0.040% cheaper against Deribit than usual: you would sell low and buy high (spread −0.019% now, against its 7-day average of +0.021%). If the spread goes back, that is −$4 on $10k: about 7 hours of funding at the current rate (+$13 a day). At the pace of the last 4 days (+0.122% in total) that is about 31 hours.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.122% in total (about 11.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.55 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit WTIOIL_USDC-PERPETUAL	93.680	−0.0390	get 0.0049% / 1h	57m 50s	$196K	$388K	15x
Short	Polymarket Perps WTIOIL-USD	93.662	0.0050	get 0.0006% / 1h	57m 50s	$1.7M	$1.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Deribit. 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 DeribitbpFee Polymarket PerpsbpOrdersPrice spread, now −0.019%Rate

Funding earned: $92.41
Price spread: −0.019% → +0.021%: −$4
Slippage, 4 orders: −$9.48
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $63.94
Costs to cover: 0.245%
Break-even: 2.2 days

Slippage from Deribit: live order book, 46 min ago; Polymarket Perps: live order book, 1 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 Deribit live order book, 46 min ago	0.53 bp	6.2 bp −$6	8.6 bp −$86	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 1 min ago	2.83 bp	6.8 bp −$7	7.7 bp −$77	10.7 bp −$1,065	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-PERPETUALlong	−0.0390%	1h	93.680	long leg	$196K	$388K	15x
GRVT CL_USDT_Perp	−0.0308%	4h	93.381	−0.319%	$53K	$607K	25x	as long as short
Aster CLUSD1	−0.0294%	4h	93.720	+0.043%	$24.7M	$64.8M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0208%	1h	93.698	+0.020%	$276K	$966K	25x	as long as short
Binance CLUSDT	−0.0169%	4h	93.670	−0.011%	$247.6M	$922.7M	100x	as long as short
Variational Omni CL	−0.0159%	4h	93.419	−0.279%	$13.4M	$10.7M	—	as long as short
Bitget CLUSDT	−0.0128%	4h	93.645	−0.037%	$42.4M	$42.1M	100x	as long as short
Gate CL_USDT	−0.0126%	8h	93.600	−0.085%	$22.9M	$48.2M	100x	as long as short
Aftermath Perps WTIUSD	−0.0126%	1h	93.531	−0.159%	$2K	$26K	5x	as long as short
Nado WTI-PERP	−0.0114%	1h	93.721	+0.043%	$963K	$630K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX CL-USDT-SWAP	−0.0057%	4h	93.670	−0.011%	$42.8M	$103.3M	50x	as long as short
edgeX CLUSDC	−0.0046%	4h	93.416	−0.282%	$525K	$306K	30x	as long as short
QFEX CL-USD	−0.0038%	1h	93.700	+0.021%	$2.3M	$2.4M	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0016%	1h	93.540	−0.149%	$405K	$862K	15x	as long as short
Lighter WTI	0.0000%	1h	93.644	−0.038%	$11.3M	$9.1M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.699	+0.021%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.680	0.000%	$26.9M	$79.2M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.687	+0.008%	$3.0M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.440	−0.256%	$37K	$39K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.667	−0.014%	$19K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	93.216	−0.495%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0001%	8h	93.641	−0.041%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	93.710	+0.032%	$1.9M	$15.0M	10x	as long as short
Ondo Perps WTI-USD.P	+0.0033%	1h	93.620	−0.064%	$3.5M	$5.4M	20x	as long as short
StandX CL-USD	+0.0040%	1h	93.730	+0.053%	$743K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.640	−0.043%	—	$313K	10x	as long as short
tradeXYZ xyz:CL	+0.0050%	1h	93.668	−0.013%	$185.2M	$205.1M	20x	as long as short
Polymarket Perps WTIOIL-USDshort	+0.0050%	1h	93.662	−0.019%	$1.7M	$1.3M	20x
SoDEX CL-USD	+0.0050%	1h	93.705	+0.027%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.673	−0.008%	$350K	$594K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.706	+0.028%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.480	−0.213%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.670	−0.011%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0179%	4h	93.630	−0.053%	$4.1M	$973K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.82	+9.756%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0251% / S −0.0186%	1h	93.685	+0.005%	$84K	—	111x	as long as short