Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0171%/8h= −18.7% APRpaid last 24h −0.117%

Price spread now: Kraken Futures against BingX+0.110%7-day average +0.064% · you sell dearer than you buy

Net, funding: paid 7d − costs−$99as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$630.630% of the position

Long on BingX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.362%−$36 on $10k

Price spread, last 3 days (all we have)−0.609%−$61 · spread now +0.110%, 7d avg +0.064%

Together, before fees−0.971%−$97 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.046% dearer against BingX than usual: you sell high and buy low (spread +0.110% now, against its 7-day average of +0.064%): +$5 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 22 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX POL-USDT	0.1127	0.0100	pay 0.0050% / 4h	55m 47s	—	$7.2M	—
Short	Kraken Futures PF_POLUSD	0.1128	−0.0071	pay 0.0009% / 1h	55m 47s	$1.2M	$1.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.110%Rate

Funding earned: −$35.94
Price spread: +0.110% → +0.064%: $4.63
Slippage, 4 orders: −$42.98
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$94.29
Costs to cover: 0.630%
Break-even: never at this rate

Slippage from BingX: live order book, 7 min ago; Kraken Futures: live order book, 3 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, 7 min ago	2.22 bp	12.4 bp −$12	28.0 bp −$280	105.0 bp −$10.5K	444.5 bp −$222.2K
Sell Kraken Futures live order book, 3 min ago	4.88 bp	24.5 bp −$25	48.2 bp −$482	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	0.1122	−0.417%	$205K	$236K	50x	as long as short
Kraken Futures PF_POLUSDshort	−0.0071%	1h	0.1128	+0.110%	$1.2M	$1.8M	50x
Reya POLRUSDPERP	−0.0006%	1h	0.1127	+0.013%	$3K	—	—	as long as short
Orderly PERP_POL_USDC	−0.0005%	4h	0.1127	0.000%	$11K	$194K	20x	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1127	+0.049%	$24K	—	150x	as long as short
dYdX POL-USD	+0.0017%	1h	0.1126	−0.067%	$17K	$3K	5x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	−1.393%	$3K	$124K	12x	as long as short
Lighter POL	+0.0096%	1h	0.1127	+0.043%	$301K	$570K	8x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1127	+0.006%	$374K	$360K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1127	+0.011%	$17.4M	$50.7M	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	0.1126	−0.071%	$16.2M	$15.5M	75x	as long as short
OKX POL-USDT-SWAP	+0.0100%	4h	0.1127	−0.009%	$5.8M	$12.0M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1126	−0.027%	$1.9M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1127	+0.036%	$24.2M	$3.8M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1127	+0.018%	$2.8M	$1.0M	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1127	+0.009%	$4.2M	$5.8M	50x	as long as short
BingX POL-USDTlong	+0.0100%	4h	0.1127	long leg	—	$7.2M	—
Variational Omni POL	+0.0100%	4h	0.1123	−0.311%	$664K	$189K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1126	−0.102%	$1.1M	$3.3M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1126	−0.062%	$199K	$657K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1127	−0.002%	$94K	$427K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1126	−0.106%	$41K	—	3x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0211% / S −0.0606%	1h	0.1127	+0.060%	$3K	—	100x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1127	−0.018%	$915K	$170K	75x	as long as short
Hyperliquid POL	+0.0372%	1h	0.1129	+0.204%	$7.7M	$4.0M	5x	as long as short