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Funding arb /

SP500

RWAall SP500 markets
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding spread now, next payment 16:00 UTC−0.0050%/8h
next payment, per $10,000−$0.06paid, last 24h−0.008%paid, last 3 days−0.088%to open and close $10k−$21
Long on Polymarket PerpsShort on Bullet
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPolymarket Perps SP500-USD7,728.50.0050pay 0.0006% / 1h24m 53s$7.6M$1.7M50x
ShortBullet US500-USD7,728.40get 0.0000% / 1h24m 53s$13K$108K10x

Funding history

latest
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Funding on every exchange

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latest

Profit calculator

Funding earned
−$10.5
Slippage, 4 orders
−$4.96
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Fee Bullet: 4 bp × 2 orders
−$8
Net
−$31.46
Break-even
never at this rate
Slippage from Polymarket Perps: live order book, 6 min ago; Bullet: live order book, 46 min ago.

Price risk

price view
Price gap now
−0.002%
Avg gap 7d
+0.021%
A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Polymarket Perps live order book, 6 min ago0.06 bp4.1 bp −$45.2 bp −$525.9 bp −$58712.6 bp −$6,284
Sell Bullet live order book, 46 min ago0.32 bp6.1 bp −$620.4 bp −$204doesn't fitdoesn't fit

SP500 on 18 venues

lowest funding first. Swap a leg.
ExchangeFunding /8hEveryOIVol 24hMax lev
Injective US500/USDC PERP−0.0220%1h$6K$125K52xas long as short
OKX US500-USDT-SWAP0.0000%8h$150K$286K20xas long as short
Bitget SP500USDT0.0000%8h$7.2M$721K50xas long as short
Bullet US500-USDshort0.0000%1h$13K$108K10x
QFEX US500-USD+0.0015%1h$11.7M$3.0M30xas long as short
Lighter US500+0.0032%1h$3.5M$19.8M50xas long as short
Extended SPX500m-USD+0.0032%1h$3.4M$13.3M25xas long as short
Markets by Kinetiq mkts:US500+0.0046%1h$1.8M$7.1M25xas long as short
Vest SPX-USD-PERP+0.0046%1h—$3.2M50xas long as short
Popdex US500USDT+0.0048%1h$565K$192K20xas long as short
Show all 18 venues
ExchangeFunding /8hEveryOIVol 24hMax lev
Paradex US500-USD-PERP+0.0050%8h$42K—5xas long as short
tradeXYZ xyz:SP500+0.0050%1h$430.5M$221.1M50xas long as short
Polymarket Perps SP500-USDlong+0.0050%1h$7.6M$1.7M50x
SoDEX US500-USD+0.0050%1h$1.0M$46K20xas long as short
Ondo Perps US500-USD.P+0.0050%1h$9.6M$5.5M25xas long as short
Pacifica SP500+0.0100%1h$268K$126K20xas long as short
Variational Omni US500+0.0131%8h$17.4M$11.2M—as long as short
Aftermath Perps US500USD+0.0403%1h$547$13K10xas long as short