Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.033%

Price spread now: Hyperliquid against BingX+0.135%7-day average +0.079% · you sell dearer than you buy

Net, funding: paid 7d − costs−$151as in the Funding arb table

Net, price: spread back to 7d avg − costs−$151as in the Price arb table

costs, in and out, $10k−$1571.569% of the position

Long on BingX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.060%+$6 on $10k

Price spread, last 7 days−0.072%−$7 · spread now +0.135%, 7d avg +0.079%

Together, before fees−0.011%+ Points / potential airdropHyperliquid: Season 2 · farm board−$1 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: Hyperliquid is 0.057% dearer against BingX than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.079%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX POL-USDC	0.1109	0.0100	pay 0.0050% / 4h	2h 51m	—	$1.6M	—
Short	Hyperliquid POL	0.1110	0.0100	get 0.0013% / 1h	51m 40s	$7.5M	$3.9M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.135%Rate

Funding earned: $0
Price spread: +0.135% → +0.079%: $5.67
Slippage, 4 orders: −$137.89
Fee BingX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$151.22
Costs to cover: 1.569%
Break-even: never at this rate

Slippage from BingX: live order book, 10 min ago; Hyperliquid: live order book, 11 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, 10 min ago	4.50 bp	71.5 bp −$72	251.3 bp −$2,513	964.4 bp −$96.4K	doesn't fit
Sell Hyperliquid live order book, 11 min ago	0.90 bp	11.6 bp −$12	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	−0.0312%	1h	0.1103	−0.523%	$203K	$202K	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1109	+0.034%	$3K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1110	+0.090%	$17K	$4K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1109	+0.046%	$24K	—	150x	as long as short
Orderly PERP_POL_USDC	+0.0033%	4h	0.1108	−0.045%	$11K	$191K	20x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+0.198%	$3K	$124K	12x	as long as short
ApeX Omni POLUSDT	+0.0050%	1h	0.1108	−0.072%	$196K	$643K	50x	as long as short
Lighter POL	+0.0096%	1h	0.1108	−0.064%	$286K	$575K	8x	as long as short
Hyperliquid POLshort	+0.0100%	1h	0.1110	+0.135%	$7.5M	$3.9M	5x
Aster POLUSDT	+0.0100%	4h	0.1108	−0.037%	$368K	$275K	20x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance POLUSDT	+0.0100%	4h	0.1109	−0.025%	$17.1M	$44.0M	75x	as long as short
Bybit POLUSDT	+0.0100%	4h	0.1107	−0.144%	$15.9M	$12.7M	75x	as long as short
OKX POL-USDT-SWAP	+0.0100%	4h	0.1107	−0.126%	$5.7M	$10.4M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1108	−0.072%	$1.8M	$1.2M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1108	−0.081%	$24.0M	$3.6M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1109	0.000%	$2.9M	$986K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1108	−0.054%	$4.1M	$4.8M	50x	as long as short
BingX POL-USDClong	+0.0100%	4h	0.1109	long leg	—	$1.6M	—
Variational Omni POL	+0.0100%	4h	0.1104	−0.430%	$611K	$224K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1108	−0.072%	$1.1M	$2.8M	10x	as long as short
Extended POL-USD	+0.0104%	1h	0.1108	−0.043%	$92K	$447K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1108	−0.072%	$41K	—	3x	as long as short
Kraken Futures PF_POLUSD	+0.0116%	1h	0.1109	+0.051%	$1.2M	$1.3M	50x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1109	+0.040%	$3K	—	100x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1106	−0.289%	$910K	$155K	75x	as long as short