Funding arb · Price arb /

COIN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.018%

Price spread now: Polymarket Perps against OKX−0.236%7-day average −0.052% · you buy dearer than you sell

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$340.343% 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+0.055%+$6 on $10k

Price spread, last 7 days+0.048%+$5 · spread now −0.236%, 7d avg −0.052%

Together, before fees+0.103%+$10 on $10k · with fees, hour by hour

Funding pays, the price is against you. Polymarket Perps is 0.184% cheaper against OKX than usual: you would sell low and buy high (spread −0.236% now, against its 7-day average of −0.052%). If the spread goes back, that is −$18 on $10k: about 12 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX COIN-USDT-SWAP	198.80	0	get 0.0000% / 8h	4h 04m	$3.1M	$3.9M	20x
Short	Polymarket Perps COIN-USD	198.33	0.0050	get 0.0006% / 1h	4m 00s	$133K	$1.2M	10x

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 −0.236%Rate

Funding earned: $10.5
Price spread: −0.236% → −0.052%: −$18.42
Slippage, 4 orders: −$16.31
Fee OKX: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$42.23
Costs to cover: 0.343%
Break-even: 35.2 days

Slippage from OKX: live order book, 1 min ago; Polymarket Perps: live order book, 2 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	1.01 bp	11.3 bp −$11	22.8 bp −$228	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 2 min ago	1.01 bp	5.3 bp −$5	6.5 bp −$65	9.5 bp −$947	doesn't fit

COIN on 26 exchanges

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 COIN/USDC PERP	−0.0440%	1h	198.66	−0.070%	$17K	$222K	30x	as long as short
Aster COINUSDT	0.0000%	8h	198.66	−0.071%	$346K	$868K	20x	as long as short
Bybit COINUSDT	0.0000%	8h	198.69	−0.055%	$4.7M	$5.2M	50x	as long as short
OKX COIN-USDT-SWAPlong	0.0000%	8h	198.80	long leg	$3.1M	$3.9M	20x
Gate COIN_USDT	0.0000%	8h	198.75	−0.025%	$1.2M	$6.3M	50x	as long as short
Bitget COINUSDT	0.0000%	8h	198.81	+0.005%	$6.4M	$9.4M	20x	as long as short
Variational Omni COIN	0.0000%	8h	198.84	+0.019%	$772K	$925K	—	as long as short
Lighter COIN	+0.0032%	1h	198.40	−0.201%	$337K	$1.9M	10x	as long as short
Lighter RH COIN	+0.0032%	1h	198.47	−0.166%	$485K	$1.2M	10x	as long as short
QFEX COIN-USD	+0.0033%	1h	198.39	−0.206%	$1.3M	$2.4M	10x	as long as short

Show all 26 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus COIN-USD	+0.0040%	1h	198.68	−0.060%	$13K	$40K	5x	as long as short
Vest COIN-USD-PERP	+0.0046%	1h	198.42	−0.191%	—	$277K	25x	as long as short
Extended COIN_24_5-USD	+0.0048%	1h	198.59	−0.107%	$106K	$920K	10x	as long as short
tradeXYZ xyz:COIN	+0.0050%	1h	198.64	−0.080%	$14.6M	$10.9M	10x	as long as short
Polymarket Perps COIN-USDshort	+0.0050%	1h	198.33	−0.236%	$133K	$1.2M	10x
SoDEX COIN-USD	+0.0050%	1h	198.67	−0.065%	$92	$3K	10x	as long as short
Ondo Perps COIN-USD.P	+0.0050%	1h	198.58	−0.111%	$308K	$2.1M	10x	as long as short
Binance COINUSDT	+0.0051%	8h	198.61	−0.094%	$14.7M	$74.7M	20x	as long as short
KuCoin COINUSDTM	+0.0100%	8h	198.50	−0.151%	$936K	$311K	20x	as long as short
ApeX Omni COINUSDT	+0.0100%	1h	198.71	−0.045%	$89K	$272K	50x	as long as short
Orderly PERP_COIN_USDC_mythos	+0.0100%	8h	198.46	−0.171%	$574	$4K	10x	as long as short
Aevo COIN-PERP	+0.0104%	1h	198.40	−0.203%	$117	—	10x	as long as short
Phoenix COIN	+0.0121%	1h	198.96	+0.080%	$5K	$268K	10x	as long as short
GRVT COIN_USDT_Perp	+0.0140%	8h	198.98	+0.089%	$18K	$3.4M	10x	as long as short
BloFin COIN-USDT	+0.0170%	8h	198.76	−0.020%	$151K	$481K	20x	as long as short
edgeX COINUSDC	+0.0423%	4h	199.29	+0.248%	$51K	$293K	10x	as long as short