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Up to six funds side by side, and how much of each is the same portfolio as the others. Overlap is Σ min(weight) over the stocks both hold, from the latest disclosures.

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Overlap

share of the portfolio the two funds hold in common

WhiteOak Capital ArbitrageICICI Prudential Arbitrage
WhiteOak Capital Arbitrage
itself
40%
ICICI Prudential Arbitrage
40%
itself

Most alike: WhiteOak Capital Arbitrage Fund and ICICI Prudential Arbitrage Fund share 40% of their portfolios. Two funds this different are doing different things; whether that is what you want is a separate question.

Side by side

record, cost, returns, drawdown, size

MeasureWhiteOak Capital ArbitrageICICI Prudential Arbitrage
CategoryArbitrageArbitrage
Share of three-year stretches it beat its category P4not measured100% of 109
Regular plan costs more than Direct by, a year P50.78%0.60%
Portfolio turned over a year P1220%128%
Run by P7Ashish Agrawal · 2.0 yrsNikhil Kabra · 5.8 yrs
1-year return7.2%6.7%
3 years p.a.—7.3%
5 years p.a.—6.7%
Deepest fall (max drawdown)−0.4%−0.4%
Assets (AUM)₹2,151 Cr₹34,536 Cr
Disclosed history2.0 yrs10 yrs
Holdings · top ten weight172 · 34%205 · 41%

Funds in different categories are not comparable on returns — a category error is the first thing the postulates refuse to make. Compare each to its own category on its fund page.