Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0252%/8h= −27.6% APRpaid last 24h −0.171%

Price spread now: Coinbase International against BingX−0.419%53s7-day average −0.375% · you buy dearer than you sell

Net, funding: paid 7d − costs−$139as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$820.824% of the position

Long on BingX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.564%−$56 on $10k

Price spread, last 3 days (all we have)−0.705%−$71 · spread now −0.419%, 7d avg −0.375%

Together, before fees−1.270%−$127 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Coinbase International is 0.045% cheaper against BingX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.375%). Swap the legs. The two prices were read 53 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	BingX POL-USDT	0.1121	0.0100	pay 0.0050% / 4h	3h 19m	—	$7.2M	—
Short	Coinbase International POL-PERP-INTX	0.1116	−0.0152	pay 0.0019% / 1h	19m 27s	$204K	$199K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against BingX. 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 BingXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.419%Rate

Funding earned: −$52.92
Price spread: −0.419% → −0.375%: −$4.46
Slippage, 4 orders: −$62.44
Fee BingX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$139.82
Costs to cover: 0.824%
Break-even: never at this rate

Slippage from BingX: live order book, 3 min ago; Coinbase International: live order book, 53 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 BingX live order book, 3 min ago	2.23 bp	14.1 bp −$14	30.7 bp −$307	111.2 bp −$11.1K	552.9 bp −$276.4K
Sell Coinbase International live order book, 53 min ago	8.92 bp	30.7 bp −$31	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
Kraken Futures PF_POLUSD	−0.0239%	1h	0.1122	+0.135%	$1.2M	$1.3M	50x	as long as short
Coinbase International POL-PERP-INTXshort	−0.0152%	1h	0.1116	−0.419%	$204K	$199K	50x
Reya POLRUSDPERP	−0.0006%	1h	0.1121	+0.012%	$3K	—	—	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1122	+0.085%	$24K	—	150x	as long as short
dYdX POL-USD	+0.0020%	1h	0.1122	+0.091%	$17K	$4K	5x	as long as short
Orderly PERP_POL_USDC	+0.0023%	4h	0.1120	−0.018%	$11K	$164K	20x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	−0.866%	$3K	$124K	12x	as long as short
Lighter POL	+0.0096%	1h	0.1121	+0.062%	$293K	$585K	8x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1121	+0.023%	$372K	$303K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1121	+0.018%	$17.2M	$44.3M	75x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit POLUSDT	+0.0100%	4h	0.1121	0.000%	$16.1M	$13.0M	75x	as long as short
OKX POL-USDT-SWAP	+0.0100%	4h	0.1121	+0.009%	$5.8M	$10.6M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1120	−0.045%	$1.9M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1121	+0.009%	$24.3M	$3.7M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1122	+0.116%	$3.0M	$980K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1122	+0.098%	$4.2M	$4.8M	50x	as long as short
BingX POL-USDTlong	+0.0100%	4h	0.1121	long leg	—	$7.2M	—
Variational Omni POL	+0.0100%	4h	0.1121	+0.019%	$620K	$224K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1121	+0.006%	$1.1M	$2.9M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1122	+0.116%	$199K	$646K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1121	−0.006%	$94K	$449K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1120	−0.040%	$41K	—	3x	as long as short
Hyperliquid POL	+0.0147%	1h	0.1123	+0.241%	$7.6M	$3.9M	5x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0217% / S −0.0750%	1h	0.1122	+0.074%	$3K	—	100x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1122	+0.089%	$910K	$159K	75x	as long as short