Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.004%

Price spread now: Lighter against Aster−0.009%7-day average +0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$510.514% of the position

Long on Aster Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.395%+$40 on $10k

Price spread, last 4 days (all we have)+0.037%+$4 · spread now −0.009%, 7d avg +0.011%

Together, before fees+0.432%+ Points / potential airdropAster: Stage 5 · Lighter: Season 3 · farm board+$43 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.020% cheaper against Aster than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster POLUSDT	0.1120	0.0100	pay 0.0050% / 4h	10m 33s	$372K	$340K	20x
Short	Lighter POL	0.1120	0.0096	get 0.0012% / 1h	10m 33s	$299K	$572K	8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Aster. 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 AsterbpFee LighterbpOrdersPrice spread, now −0.009%Rate

Funding earned: −$0.84
Price spread: −0.009% → +0.011%: −$2.02
Slippage, 4 orders: −$43.44
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$54.29
Costs to cover: 0.514%
Break-even: never at this rate

Slippage from Aster: live order book, 2 min ago; Lighter: live order book, 60 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 Aster live order book, 2 min ago	5.35 bp	17.7 bp −$18	274.9 bp −$2,749	doesn't fit	doesn't fit
Sell Lighter live order book, 60 min ago	5.39 bp	10.2 bp −$10	66.9 bp −$669	doesn't fit	doesn't fit

POL on 25 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
Coinbase International POL-PERP-INTX	−0.0128%	1h	0.1121	+0.089%	$205K	$226K	50x	as long as short
Kraken Futures PF_POLUSD	−0.0072%	1h	0.1119	−0.086%	$1.2M	$1.8M	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1119	−0.122%	$3K	—	—	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1119	−0.075%	$24K	—	150x	as long as short
Orderly PERP_POL_USDC	+0.0012%	4h	0.1118	−0.161%	$11K	$186K	20x	as long as short
dYdX POL-USD	+0.0014%	1h	0.1120	+0.009%	$17K	$3K	5x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	−0.804%	$3K	$124K	12x	as long as short
Lighter POLshort	+0.0096%	1h	0.1120	−0.009%	$299K	$572K	8x
OKX POL-USDT-SWAP	+0.0100%	4h	0.1120	−0.036%	$5.8M	$11.6M	50x	as long as short
Aster POLUSDTlong	+0.0100%	4h	0.1120	long leg	$372K	$340K	20x

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance POLUSDT	+0.0100%	4h	0.1120	−0.009%	$17.2M	$49.8M	75x	as long as short
Bybit POLUSDT	+0.0100%	4h	0.1119	−0.107%	$16.1M	$15.1M	75x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1119	−0.125%	$1.9M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1120	−0.027%	$24.2M	$3.9M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1119	−0.062%	$2.8M	$1.1M	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1120	+0.018%	$4.2M	$5.3M	50x	as long as short
BingX POL-USDC	+0.0100%	4h	0.1120	+0.018%	—	$1.7M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1117	−0.264%	$660K	$183K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1121	+0.062%	$1.1M	$3.2M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1121	+0.089%	$198K	$649K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1120	−0.029%	$93K	$427K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1117	−0.271%	$41K	—	3x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0216% / S −0.0750%	1h	0.1119	−0.092%	$3K	—	100x	as long as short
Hyperliquid POL	+0.0228%	1h	0.1121	+0.097%	$7.6M	$3.9M	5x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1121	+0.116%	$911K	$163K	75x	as long as short