Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0480%/8h= −52.5% APRpaid last 24h −0.059%

Price spread now: Kraken Futures against Bitget+0.002%7-day average +0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$97as in the Funding arb table

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$720.718% of the position

Long on Bitget Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.255%−$25 on $10k

Price spread, last 4 days (all we have)−0.133%−$13 · spread now +0.002%, 7d avg +0.037%

Together, before fees−0.387%−$39 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Kraken Futures is 0.035% cheaper against Bitget than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.037%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.255% in total (about -13.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget POLUSDT	0.1092	0.0100	pay 0.0050% / 4h	1h 42m	$4.0M	$4.1M	50x
Short	Kraken Futures PF_POLUSD	0.1092	−0.0380	pay 0.0047% / 1h	42m 42s	$1.2M	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bitget. 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 BitgetbpFee Kraken FuturesbpOrdersPrice spread, now +0.002%Rate

Funding earned: −$100.72
Price spread: +0.002% → +0.037%: −$3.47
Slippage, 4 orders: −$49.77
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$175.96
Costs to cover: 0.718%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; Kraken Futures: live order book, 6 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 Bitget live order book, 5 min ago	0.46 bp	14.2 bp −$14	27.4 bp −$274	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 6 min ago	6.86 bp	24.5 bp −$24	47.3 bp −$473	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	−0.0472%	1h	0.1088	−0.394%	$201K	$203K	50x	as long as short
Kraken Futures PF_POLUSDshort	−0.0380%	1h	0.1092	+0.002%	$1.2M	$1.0M	50x
Gate POL_USDT	−0.0290%	4h	0.1091	−0.082%	$1.8M	$1.3M	75x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1092	−0.034%	$2K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1093	+0.102%	$19K	$3K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0003% / S −0.0001%	1h	0.1093	+0.081%	$12K	—	150x	as long as short
Orderly PERP_POL_USDC	+0.0030%	4h	0.1092	0.000%	$11K	$1.2M	20x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+1.712%	$3K	$124K	12x	as long as short
OKX POL-USDT-SWAP	+0.0074%	4h	0.1091	−0.073%	$5.7M	$9.5M	50x	as long as short
Lighter POL	+0.0096%	1h	0.1092	−0.054%	$276K	$543K	8x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid POL	+0.0100%	1h	0.1093	+0.101%	$7.4M	$3.7M	5x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1092	−0.007%	$362K	$240K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1092	−0.056%	$16.6M	$37.7M	75x	as long as short
Bybit POLUSDT	+0.0100%	4h	0.1091	−0.092%	$15.7M	$10.1M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1092	−0.055%	$24.6M	$3.3M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1093	+0.046%	$2.9M	$940K	50x	as long as short
Bitget POLUSDTlong	+0.0100%	4h	0.1092	long leg	$4.0M	$4.1M	50x
BingX POL-USDC	+0.0100%	4h	0.1092	−0.018%	—	$1.6M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1089	−0.260%	$602K	$167K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1092	−0.037%	$1.1M	$2.8M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1092	−0.027%	$194K	$635K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1092	−0.048%	$91K	$268K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1091	−0.133%	$40K	—	3x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1093	+0.055%	$3K	—	100x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1093	+0.082%	$899K	$149K	75x	as long as short