Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.033%

Price spread now: Injective against Binance+1.007%87s7-day average −0.254% · you sell dearer than you buy

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

Long on Binance Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−1.292%−$129 on $10k

Price spread, last 4 days (all we have)−4.736%−$474 · spread now +1.007%, 7d avg −0.254%

Together, before fees−6.029%−$603 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 1.261% dearer against Binance than usual: you sell high and buy low (spread +1.007% now, against its 7-day average of −0.254%): +$126 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2 months. At the pace of the last 7 days (−1.292% in total) that is about 6.8 days. The two prices were read 87 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance POLUSDT	0.1100	0.0100	pay 0.0050% / 4h	53m 46s	$17.1M	$42.0M	75x
Short	Injective POL/USDC PERP	0.1111	0.0033	get 0.0004% / 1h	53m 46s	$3K	$124K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Binance. 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 BinancebpFee InjectivebpOrdersPrice spread, now +1.007%Rate

Funding earned: −$14
Price spread: +1.007% → −0.254%: $126.11
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $102.09
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Binance: live order book, 3 min ago; Injective: live order book, 25 min ago. 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 Binance live order book, 3 min ago	0.45 bp	9.8 bp −$10	16.8 bp −$168	184.4 bp −$18.4K	doesn't fit
Sell Injective live order book, 25 min ago	68.03 bp	doesn't fit	doesn't fit	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	−0.0520%	1h	0.1096	−0.357%	$202K	$197K	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1100	−0.039%	$3K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1101	+0.116%	$17K	$1K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1101	+0.073%	$24K	—	150x	as long as short
Injective POL/USDC PERPshort	+0.0033%	1h	0.1111	+1.007%	$3K	$124K	12x
Orderly PERP_POL_USDC	+0.0038%	4h	0.1100	−0.039%	$11K	$267K	20x	as long as short
ApeX Omni POLUSDT	+0.0045%	1h	0.1098	−0.175%	$195K	$633K	50x	as long as short
Lighter POL	+0.0096%	1h	0.1100	+0.035%	$284K	$550K	8x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1100	+0.031%	$366K	$268K	20x	as long as short
Binance POLUSDTlong	+0.0100%	4h	0.1100	long leg	$17.1M	$42.0M	75x

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit POLUSDT	+0.0100%	4h	0.1100	−0.039%	$15.8M	$11.7M	75x	as long as short
OKX POL-USDT-SWAP	+0.0100%	4h	0.1100	−0.030%	$5.7M	$10.0M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1099	−0.048%	$1.8M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1100	+0.034%	$24.4M	$3.6M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1100	+0.052%	$2.9M	$973K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1101	+0.097%	$4.1M	$4.6M	50x	as long as short
BingX POL-USDC	+0.0100%	4h	0.1100	−0.003%	—	$1.7M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1101	+0.063%	$609K	$209K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1100	+0.001%	$1.1M	$2.7M	10x	as long as short
Extended POL-USD	+0.0104%	1h	0.1100	−0.010%	$95K	$453K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1098	−0.175%	$40K	—	3x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1100	+0.010%	$3K	—	100x	as long as short
Hyperliquid POL	+0.0245%	1h	0.1101	+0.143%	$7.4M	$3.7M	5x	as long as short
Kraken Futures PF_POLUSD	+0.0314%	1h	0.1101	+0.076%	$1.2M	$1.2M	50x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1102	+0.152%	$918K	$167K	75x	as long as short