Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0080%/8h= −8.7% APRpaid last 24h −0.151%

Price spread now: Kraken Futures against BloFin+0.028%7-day average +0.069% · you sell dearer than you buy

Net, funding: paid 7d − costs−$96as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$580.577% of the position

Long on BloFin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.380%−$38 on $10k

Price spread, last 4 days (all we have)+0.272%+$27 · spread now +0.028%, 7d avg +0.069%

Together, before fees−0.109%−$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Kraken Futures is 0.041% cheaper against BloFin than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.069%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin POL-USDT	0.1102	0.0340	pay 0.0170% / 4h	1h 36m	$911K	$166K	75x
Short	Kraken Futures PF_POLUSD	0.1102	0.0260	get 0.0033% / 1h	36m 39s	$1.2M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BloFin. 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 BloFinbpFee Kraken FuturesbpOrdersPrice spread, now +0.028%Rate

Funding earned: −$16.76
Price spread: +0.028% → +0.069%: −$4.14
Slippage, 4 orders: −$35.68
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$78.58
Costs to cover: 0.577%
Break-even: never at this rate

Slippage from BloFin: live order book, 5 min ago; Kraken Futures: live order book, 2 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 BloFin live order book, 5 min ago	1.36 bp	9.9 bp −$10	20.9 bp −$209	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 2 min ago	8.17 bp	16.9 bp −$17	58.1 bp −$581	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	−0.0464%	1h	0.1098	−0.345%	$202K	$201K	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1102	−0.006%	$3K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1103	+0.072%	$17K	$1K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1102	+0.018%	$24K	—	150x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+0.835%	$3K	$124K	12x	as long as short
Orderly PERP_POL_USDC	+0.0044%	4h	0.1101	−0.054%	$11K	$298K	20x	as long as short
Lighter POL	+0.0096%	1h	0.1103	+0.064%	$285K	$564K	8x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1102	−0.022%	$366K	$269K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1103	+0.085%	$17.1M	$42.2M	75x	as long as short
Bybit POLUSDT	+0.0100%	4h	0.1102	+0.018%	$15.9M	$11.9M	75x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX POL-USDT-SWAP	+0.0100%	4h	0.1103	+0.073%	$5.7M	$10.0M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1101	−0.045%	$1.8M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1103	+0.064%	$23.8M	$3.5M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1102	−0.018%	$2.9M	$975K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1103	+0.073%	$4.2M	$4.7M	50x	as long as short
BingX POL-USDC	+0.0100%	4h	0.1103	+0.118%	—	$1.7M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1100	−0.124%	$610K	$209K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1102	−0.009%	$1.1M	$2.7M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1102	+0.018%	$195K	$635K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1103	+0.108%	$92K	$448K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1100	−0.209%	$40K	—	3x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1102	+0.044%	$3K	—	100x	as long as short
Hyperliquid POL	+0.0225%	1h	0.1104	+0.172%	$7.4M	$3.7M	5x	as long as short
Kraken Futures PF_POLUSDshort	+0.0260%	1h	0.1102	+0.028%	$1.2M	$1.2M	50x
BloFin POL-USDTlong	+0.0340%	4h	0.1102	long leg	$911K	$166K	75x