Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: Bybit against Polymarket Perps+0.054%7-day average +0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$240.237% of the position

Long on Polymarket Perps Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.437%−$44 on $10k

Price spread, last 7 days−0.029%−$3 · spread now +0.054%, 7d avg +0.017%

Together, before fees−0.466%−$47 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.037% dearer against Polymarket Perps than usual: you sell high and buy low (spread +0.054% now, against its 7-day average of +0.017%): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.5 days. At the pace of the last 7 days (−0.437% in total) that is about 14 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps WTIOIL-USD	92.921	0.0050	pay 0.0006% / 1h	13m 27s	$1.7M	$1.3M	20x
Short	Bybit CLUSDT	92.971	0	get 0.0000% / 8h	13m 27s	$26.8M	$79.3M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Polymarket Perps. 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 Polymarket PerpsbpFee BybitbpOrdersPrice spread, now +0.054%Rate

Funding earned: −$10.5
Price spread: +0.054% → +0.017%: $3.68
Slippage, 4 orders: −$4.65
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$30.47
Costs to cover: 0.237%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 5 min ago; Bybit: live order book, 6 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 Polymarket Perps live order book, 5 min ago	0.59 bp	7.0 bp −$7	9.5 bp −$95	12.3 bp −$1,233	doesn't fit
Sell Bybit live order book, 6 min ago	0.54 bp	6.0 bp −$6	7.3 bp −$73	14.8 bp −$1,478	92.1 bp −$46.0K

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	−0.0610%	1h	92.920	−0.001%	$194K	$397K	15x	as long as short
Aster CLUSD1	−0.0272%	4h	92.969	+0.052%	$24.8M	$62.8M	20x	as long as short
GRVT CL_USDT_Perp	−0.0238%	4h	93.007	+0.092%	$77K	$622K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0210%	1h	92.981	+0.064%	$275K	$929K	25x	as long as short
Binance CLUSDT	−0.0151%	4h	92.941	+0.021%	$246.7M	$921.8M	100x	as long as short
Variational Omni CL	−0.0143%	4h	92.971	+0.053%	$13.5M	$10.7M	—	as long as short
Gate CL_USDT	−0.0135%	8h	92.880	−0.044%	$23.0M	$50.3M	100x	as long as short
Bitget CLUSDT	−0.0116%	4h	92.931	+0.011%	$42.2M	$41.6M	100x	as long as short
Nado WTI-PERP	−0.0111%	1h	92.971	+0.054%	$952K	$616K	10x	as long as short
Aftermath Perps WTIUSD	−0.0100%	1h	92.963	+0.045%	$2K	$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-SWAP	−0.0080%	4h	92.950	+0.031%	$42.6M	$102.6M	50x	as long as short
QFEX CL-USD	−0.0038%	1h	92.920	−0.001%	$2.3M	$2.4M	10x	as long as short
edgeX CLUSDC	−0.0021%	4h	93.014	+0.100%	$523K	$306K	30x	as long as short
tradeXYZ xyz:CL	−0.0019%	1h	92.951	+0.032%	$184.0M	$198.1M	20x	as long as short
Lighter WTI	−0.0016%	1h	92.924	+0.003%	$11.2M	$9.2M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0016%	1h	93.540	+0.666%	$405K	$810K	15x	as long as short
Ondo Perps WTI-USD.P	−0.0013%	1h	92.960	+0.042%	$3.6M	$5.3M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.993	+0.077%	$8K	$3K	5x	as long as short
Bybit CLUSDTshort	0.0000%	8h	92.971	+0.054%	$26.8M	$79.3M	150x
RISEx CL/USDC	0.0000%	1h	92.953	+0.035%	$3.0M	$2.8M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.950	+0.031%	$37K	$40K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.948	+0.029%	$18K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.514	−0.438%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0004%	8h	92.911	−0.010%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	92.950	+0.031%	$1.7M	$15.2M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.060	+0.150%	$737K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.950	+0.031%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USDlong	+0.0050%	1h	92.921	long leg	$1.7M	$1.3M	20x
SoDEX CL-USD	+0.0050%	1h	92.955	+0.037%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.941	+0.022%	$346K	$591K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.960	+0.042%	$7.0M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.990	+0.074%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.943	+0.023%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0158%	4h	93.020	+0.107%	$4.1M	$982K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.13	+9.915%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0258% / S −0.0205%	1h	93.005	+0.090%	$83K	—	111x	as long as short