Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against BingX+0.034%7-day average +0.061% · you sell dearer than you buy

Net, funding: paid 7d − costs−$183as in the Funding arb table

Net, price: spread back to 7d avg − costs−$187as in the Price arb table

costs, in and out, $10k−$1851.845% of the position

Long on BingX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.016%+$2 on $10k

Price spread, last 4 days (all we have)+0.061%+$6 · spread now +0.034%, 7d avg +0.061%

Together, before fees+0.077%+ Points / potential airdropLighter: Season 3 · farm board+$8 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 0.027% cheaper against BingX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.061%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX POL-USDC	0.1091	0.0100	pay 0.0050% / 4h	2h 41m	—	$1.6M	—
Short	Lighter POL	0.1091	0.0096	get 0.0012% / 1h	41m 58s	$278K	$541K	8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.034%Rate

Funding earned: −$0.84
Price spread: +0.034% → +0.061%: −$2.72
Slippage, 4 orders: −$174.54
Fee BingX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$188.09
Costs to cover: 1.845%
Break-even: never at this rate

Slippage from BingX: live order book, 10 min ago; Lighter: live order book, 63 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	4.12 bp	56.5 bp −$57	223.6 bp −$2,236	1042.2 bp −$104.2K	doesn't fit
Sell Lighter live order book, 63 min ago	5.44 bp	8.4 bp −$8	75.1 bp −$751	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	−0.0480%	1h	0.1089	−0.165%	$201K	$199K	50x	as long as short
Gate POL_USDT	−0.0242%	4h	0.1090	−0.037%	$1.8M	$1.3M	75x	as long as short
Kraken Futures PF_POLUSD	−0.0140%	1h	0.1092	+0.065%	$1.2M	$1.0M	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1091	−0.027%	$2K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1092	+0.090%	$19K	$4K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0003% / S −0.0001%	1h	0.1092	+0.080%	$12K	—	150x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+1.852%	$3K	$124K	12x	as long as short
Orderly PERP_POL_USDC	+0.0038%	4h	0.1091	+0.028%	$11K	$840K	20x	as long as short
Lighter POLshort	+0.0096%	1h	0.1091	+0.034%	$278K	$541K	8x
Hyperliquid POL	+0.0100%	1h	0.1093	+0.165%	$7.4M	$3.7M	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster POLUSDT	+0.0100%	4h	0.1091	+0.028%	$362K	$242K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1091	−0.009%	$16.7M	$38.5M	75x	as long as short
Bybit POLUSDT	+0.0100%	4h	0.1090	−0.037%	$15.7M	$10.6M	75x	as long as short
OKX POL-USDT-SWAP	+0.0100%	4h	0.1091	−0.009%	$5.6M	$9.4M	50x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1091	+0.028%	$24.6M	$3.2M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1092	+0.101%	$2.9M	$939K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1091	+0.009%	$4.0M	$4.1M	50x	as long as short
BingX POL-USDClong	+0.0100%	4h	0.1091	long leg	—	$1.6M	—
Variational Omni POL	+0.0100%	4h	0.1089	−0.141%	$603K	$166K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1090	−0.073%	$1.1M	$2.8M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1091	+0.018%	$194K	$632K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1090	−0.035%	$91K	$276K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1090	−0.119%	$40K	—	3x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1092	+0.072%	$3K	—	100x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1090	−0.064%	$898K	$160K	75x	as long as short