Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0117%/8h= +12.8% APRpaid last 24h +0.017%

Price spread now: Polymarket Perps against OKX0.000%47s7-day average −0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$3as 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−$270.269% of the position

Long on OKX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.240%+$24 on $10k

Price spread, last 7 days−0.057%−$6 · spread now 0.000%, 7d avg −0.033%

Together, before fees+0.183%+$18 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Polymarket Perps is 0.033% dearer against OKX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.033%. The two prices were read 47 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	OKX CL-USDT-SWAP	93.090	−0.0067	get 0.0034% / 4h	2m 43s	$42.5M	$103.2M	50x
Short	Polymarket Perps WTIOIL-USD	93.090	0.0050	get 0.0006% / 1h	2m 43s	$1.6M	$1.3M	20x

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

Position, each leg$Hold fordaysFee OKXbpFee Polymarket PerpsbpOrdersPrice spread, now 0.000%Rate

Funding earned: $24.63
Price spread: 0.000% → −0.033%: $3.27
Slippage, 4 orders: −$8.89
Fee OKX: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $1.01
Costs to cover: 0.269%
Break-even: 6.7 days

Slippage from OKX: live order book, 1 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 OKX live order book, 1 min ago	0.54 bp	5.5 bp −$6	6.0 bp −$60	11.8 bp −$1,175	doesn't fit
Sell Polymarket Perps live order book, 1 min ago	2.31 bp	6.6 bp −$7	7.7 bp −$77	11.6 bp −$1,164	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	−0.0394%	1h	93.090	0.000%	$194K	$399K	15x	as long as short
Aster CLUSD1	−0.0250%	4h	93.132	+0.045%	$24.8M	$62.3M	20x	as long as short
GRVT CL_USDT_Perp	−0.0218%	4h	93.231	+0.151%	$75K	$634K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0210%	1h	93.119	+0.031%	$273K	$924K	25x	as long as short
Binance CLUSDT	−0.0139%	4h	93.113	+0.025%	$246.5M	$923.9M	100x	as long as short
Gate CL_USDT	−0.0138%	8h	93.030	−0.064%	$23.2M	$50.8M	100x	as long as short
Variational Omni CL	−0.0130%	4h	93.192	+0.110%	$13.6M	$10.8M	—	as long as short
Nado WTI-PERP	−0.0109%	1h	93.148	+0.062%	$953K	$613K	10x	as long as short
Bitget CLUSDT	−0.0100%	4h	93.101	+0.012%	$42.2M	$41.5M	100x	as long as short
Aftermath Perps WTIUSD	−0.0085%	1h	93.140	+0.053%	$1K	$26K	5x	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-SWAPlong	−0.0067%	4h	93.090	long leg	$42.5M	$103.2M	50x
edgeX CLUSDC	−0.0042%	4h	93.256	+0.179%	$525K	$324K	30x	as long as short
QFEX CL-USD	−0.0038%	1h	93.090	0.000%	$2.3M	$2.4M	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0016%	1h	93.540	+0.483%	$405K	$810K	15x	as long as short
tradeXYZ xyz:CL	−0.0015%	1h	93.107	+0.018%	$184.5M	$196.7M	20x	as long as short
Lighter WTI	−0.0008%	1h	93.086	−0.004%	$11.2M	$9.2M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0002%	1h	93.080	−0.011%	$3.6M	$5.3M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.133	+0.046%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.114	+0.026%	$27.0M	$79.8M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.110	+0.021%	$3.0M	$2.8M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.140	+0.054%	$37K	$40K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.105	+0.016%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.658	−0.464%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0012%	8h	93.087	−0.004%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	93.130	+0.043%	$1.7M	$14.9M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.150	+0.064%	$735K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.090	0.000%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USDshort	+0.0050%	1h	93.090	0.000%	$1.6M	$1.3M	20x
SoDEX CL-USD	+0.0050%	1h	93.119	+0.031%	$2.1M	$62K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.105	+0.016%	$347K	$589K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.126	+0.039%	$7.0M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.290	+0.215%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.095	+0.006%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0171%	4h	93.100	+0.011%	$4.0M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.13	+9.715%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0261% / S −0.0179%	1h	93.115	+0.027%	$90K	—	111x	as long as short