Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0096%/8h= −10.6% APRpaid last 24h +0.012%

Price spread now: Polymarket Perps against Orderly+0.005%7-day average −0.039% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.221%−$22 on $10k

Price spread, last 4 days (all we have)−0.913%−$91 · spread now +0.005%, 7d avg −0.039%

Together, before fees−1.134%−$113 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Polymarket Perps is 0.044% dearer against Orderly than usual: you sell high and buy low (spread +0.005% now, against its 7-day average of −0.039%): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 36 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_ARB_USDC	0.2191	−0.0068	get 0.0068% / 8h	3h 28m	$12K	$408K	10x
Short	Polymarket Perps ARB-USD	0.2191	−0.0165	pay 0.0021% / 1h	28m 02s	$69K	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Orderly. 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 OrderlybpFee Polymarket PerpsbpOrdersPrice spread, now +0.005%Rate

Funding earned: −$20.24
Price spread: +0.005% → −0.039%: $4.35
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$29.89
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Polymarket Perps: live order book, 6 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell Polymarket Perps live order book, 6 min ago	2.97 bp	7.0 bp −$7	9.5 bp −$95	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

ARB 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
Injective ARB/USDC PERP	−0.1589%	1h	0.2188	−0.137%	$39K	$372K	12x	as long as short
Polymarket Perps ARB-USDshort	−0.0165%	1h	0.2191	+0.005%	$69K	$2.1M	10x
OKX ARB-USDT-SWAP	−0.0104%	8h	0.2189	−0.110%	$22.1M	$142.3M	50x	as long as short
MEXC ARB_USDT	−0.0104%	8h	0.2189	−0.078%	$41.7M	$60.6M	200x	as long as short
Variational Omni ARB	−0.0098%	8h	0.2197	+0.286%	$1.8M	$2.9M	—	as long as short
Orderly PERP_ARB_USDClong	−0.0068%	8h	0.2191	long leg	$12K	$408K	10x
Bybit ARBUSDT	−0.0058%	8h	0.2188	−0.123%	$55.3M	$123.4M	50x	as long as short
Kraken Futures PF_ARBUSD	−0.0050%	1h	0.2191	+0.003%	$1.1M	$4.4M	50x	as long as short
Gate ARB_USDT	−0.0013%	8h	0.2191	−0.014%	$5.3M	$18.1M	60x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2194	+0.149%	$65K	$5K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange ARBUSD	0.0000%	1h	0.2193	+0.078%	$7K	$2K	10x	as long as short
Deribit ARB_USDC-PERPETUAL	0.0000%	1h	0.2190	−0.032%	$24K	$34K	25x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0006%	1h	0.2192	+0.062%	$32K	—	150x	as long as short
Binance ARBUSDT	+0.0047%	8h	0.2190	−0.059%	$63.8M	$299.3M	75x	as long as short
Extended ARB-USD	+0.0048%	1h	0.2188	−0.152%	$349K	$2.5M	25x	as long as short
Bitget ARBUSDT	+0.0054%	8h	0.2190	−0.046%	$20.8M	$33.9M	50x	as long as short
BingX ARB-USDT	+0.0056%	8h	0.2189	−0.105%	—	$53.6M	—	as long as short
Lighter ARB	+0.0096%	1h	0.2190	−0.027%	$1.3M	$5.5M	15x	as long as short
Aevo ARB-PERP	+0.0096%	1h	0.2191	+0.009%	$139K	$7K	3x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2191	+0.009%	$37.4M	$48.4M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2192	+0.048%	$631K	$1.5M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2193	+0.101%	$42K	$159K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2190	−0.027%	$19.5M	$14.6M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2196	+0.225%	$39K	$465K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2197	+0.290%	$473K	$3.5M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2198	+0.319%	$119K	$283K	50x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2194	+0.137%	$2K	$1.1M	30x	as long as short
SoDEX ARB-USD	+0.0100%	1h	0.2192	+0.023%	$10K	$2.2M	5x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2190	−0.023%	$297K	$884K	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2191	0.000%	$4.9M	$12.8M	50x	as long as short
RISEx ARB/USDC	+0.0118%	1h	0.2193	+0.084%	$470K	$2.6M	10x	as long as short
BloFin ARB-USDT	+0.0165%	8h	0.2193	+0.100%	$3.1M	$2.5M	75x	as long as short
Coinbase International ARB-PERP-INTX	+0.0256%	1h	0.2193	+0.073%	$494K	$1.6M	50x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0276% / S −0.0158%	1h	0.2192	+0.031%	$827K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0289%	1h	0.2190	−0.032%	$2K	$695	20x	as long as short
Backpack ARB_USDC_PERP	+0.0557%	1h	0.2193	+0.073%	$985K	$2.8M	20x	as long as short