data as of
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Price arb /

SP500

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Spread before costs (cost unknown: a leg has no order-book sample)−0.303%
7d average−0.136%if it closes, per $10,000$30funding while held, a day+$2.93
Long on Polymarket PerpsShort on Variational Omni
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPolymarket Perps SP500-USD7,718.80.0050pay 0.0006% / 1h28m 35s$7.6M$1.6M50x
ShortVariational Omni US5007,695.40.0148get 0.0148% / 8h1h 28m$17.5M$11.9M—

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

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

Profit calculator

Spread captured
−$30.26
Funding while held
$2.93
Slippage, 4 orders
no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Fee Variational Omni: 0 bp × 2 orders
$0
Net
−$35.33
Spread needed to break even
0.080%
Slippage unknown: Polymarket Perps: live order book, 2 min ago; Variational Omni: RFQ quote, 2 min ago. Net counts fees only.

Cost of waiting

funding view
Funding /8h
+0.0098%
Per $10,000 a day
+$2.93
Average in range /8h
—

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, 2 min ago0.06 bp4.1 bp −$45.0 bp −$506.2 bp −$61612.5 bp −$6,231
Sell Variational Omni RFQ quote, 2 min ago1.90 bpdoesn't fit2.3 bp −$2310.1 bp −$1,014doesn't fit

SP500 price on every exchange

against the cheapest. Click to use as the short leg.
Injective7,609.1cheapestMarkets by Kinetiq7,690.3+1.067%
Variational Omni7,695.4+1.135%
Ondo Perps7,717.1+1.419%Aftermath Perps7,717.2+1.421%SoDEX7,717.5+1.425%
Polymarket Perps7,718.8+1.442%
Lighter7,719+1.444%Paradex7,719.1+1.446%QFEX7,720.1+1.459%tradeXYZ7,721.1+1.472%Bullet7,721.4+1.476%Pacifica7,721.6+1.479%Extended7,721.7+1.480%Popdex7,723.3+1.501%Bitget7,725.3+1.527%OKX7,727.4+1.555%Vest7,786.6+2.333%

SP500 on 18 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Injective US500/USDC PERP−1.421%−0.0220%1h$7K$125K52xas long as short
Markets by Kinetiq mkts:US500−0.369%+0.0046%1h$1.8M$6.6M25xas long as short
Variational Omni US500short−0.303%+0.0148%8h$17.5M$11.9M—
Ondo Perps US500-USD.P−0.022%+0.0050%1h$9.6M$5.0M25xas long as short
Aftermath Perps US500USD−0.020%+0.0394%1h$554$11K10xas long as short
SoDEX US500-USD−0.017%+0.0050%1h$1.0M$46K20xas long as short
Polymarket Perps SP500-USDlong0.000%+0.0050%1h$7.6M$1.6M50x
Lighter US500+0.003%+0.0032%1h$5.2M$16.3M50xas long as short
Paradex US500-USD-PERP+0.004%+0.0050%8h$42K—5xas long as short
QFEX US500-USD+0.017%+0.0008%1h$11.7M$3.0M30xas long as short
Show all 18 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
tradeXYZ xyz:SP500+0.030%+0.0050%1h$432.1M$203.2M50xas long as short
Bullet US500-USD+0.034%0.0000%1h$12K$107K10xas long as short
Pacifica SP500+0.036%+0.0100%1h$268K$101K20xas long as short
Extended SPX500m-USD+0.037%+0.0032%1h$3.3M$13.2M25xas long as short
Popdex US500USDT+0.058%+0.0048%1h$570K$184K20xas long as short
Bitget SP500USDT+0.084%0.0000%8h$7.3M$532K50xas long as short
OKX US500-USDT-SWAP+0.111%0.0000%8h$150K$269K20xas long as short
Vest SPX-USD-PERP+0.879%+0.0046%1h—$1.6M50xas long as short