Funding arb · Price arb /

SP500

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.005%

Price spread now: Ondo Perps against Polymarket Perps+0.028%7-day average +0.013% · you sell dearer than you buy

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

Long on Polymarket Perps Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.014%+$1 on $10k

Price spread, last 7 days−0.050%−$5 · spread now +0.028%, 7d avg +0.013%

Together, before fees−0.036%+ Points / potential airdropOndo Perps: Active · farm board−$4 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps SP500-USD	7,763.8	0.0050	pay 0.0006% / 1h	23m 33s	$9.0M	$2.2M	50x
Short	Ondo Perps US500-USD.P	7,766	0.0050	get 0.0006% / 1h	23m 33s	$9.5M	$7.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now +0.028%Rate

Funding earned: $0.08
Price spread: +0.028% → +0.013%: $1.58
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$11.33
Costs to cover: 0.130%
Break-even: 951.4 days

Slippage unknown: Polymarket Perps: live order book, 6 min ago; Ondo Perps: no order-book sample. 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 Polymarket Perps live order book, 6 min ago	0.06 bp	4.8 bp −$5	5.7 bp −$57	6.2 bp −$621	12.0 bp −$5,981
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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.

SP500 on 18 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 US500/USDC PERP	−0.0220%	1h	7,668.6	−1.226%	$7K	$105	52x	as long as short
QFEX US500-USD	−0.0045%	1h	7,767.9	+0.053%	$11.9M	$3.2M	30x	as long as short
OKX US500-USDT-SWAP	0.0000%	8h	7,772	+0.106%	$152K	$246K	20x	as long as short
Bitget SP500USDT	0.0000%	8h	7,772.1	+0.107%	$7.2M	$772K	50x	as long as short
Variational Omni US500	0.0000%	8h	7,744.7	−0.246%	$17.2M	$8.9M	—	as long as short
Bullet US500-USD	0.0000%	1h	7,765.9	+0.027%	$12K	$107K	10x	as long as short
Lighter US500	+0.0032%	1h	7,764	+0.003%	$2.2M	$28.8M	50x	as long as short
Extended SPX500m-USD	+0.0032%	1h	7,766.3	+0.032%	$3.2M	$14.4M	25x	as long as short
Markets by Kinetiq mkts:US500	+0.0046%	1h	7,737.3	−0.341%	$1.6M	$7.1M	25x	as long as short
Vest SPX-USD-PERP	+0.0046%	1h	7,830.8	+0.862%	—	$3.8M	50x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex US500USDT	+0.0048%	1h	7,767	+0.041%	$545K	$440K	20x	as long as short
Paradex US500-USD-PERP	+0.0050%	8h	7,763.2	−0.008%	$43K	—	5x	as long as short
tradeXYZ xyz:SP500	+0.0050%	1h	7,766	+0.028%	$434.7M	$240.0M	50x	as long as short
Polymarket Perps SP500-USDlong	+0.0050%	1h	7,763.8	long leg	$9.0M	$2.2M	50x
SoDEX US500-USD	+0.0050%	1h	7,765.6	+0.023%	$1.1M	$85K	20x	as long as short
Ondo Perps US500-USD.Pshort	+0.0050%	1h	7,766	+0.028%	$9.5M	$7.1M	25x
Pacifica SP500	+0.0100%	1h	7,766.6	+0.036%	$261K	$178K	20x	as long as short
Aftermath Perps US500USD	+0.0243%	1h	7,766	+0.029%	$459	$21K	10x	as long as short