Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0244%/8h= −26.7% APRpaid last 24h −0.054%

Price spread now: Lighter against BloFin+0.016%60s7-day average +0.074% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$450.448% of the position

Long on BloFin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.009%−$1 on $10k

Price spread, last 4 days (all we have)+0.950%+$95 · spread now +0.016%, 7d avg +0.074%

Together, before fees+0.941%+ Points / potential airdropLighter: Season 3 · farm board+$94 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Lighter is 0.057% cheaper against BloFin than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.074%). Swap the legs. The two prices were read 60 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.009% in total (about -0.5% 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	BloFin POL-USDT	0.1097	0.0340	pay 0.0170% / 4h	50m 16s	$910K	$167K	75x
Short	Lighter POL	0.1097	0.0096	get 0.0012% / 1h	50m 16s	$283K	$550K	8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.016%Rate

Funding earned: −$51.24
Price spread: +0.016% → +0.074%: −$5.72
Slippage, 4 orders: −$32.75
Fee BloFin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$101.71
Costs to cover: 0.448%
Break-even: never at this rate

Slippage from BloFin: live order book, 52 min ago; Lighter: live order book, 65 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, 52 min ago	1.36 bp	9.9 bp −$10	20.9 bp −$209	doesn't fit	doesn't fit
Sell Lighter live order book, 65 min ago	7.85 bp	13.4 bp −$13	63.8 bp −$638	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	−0.0520%	1h	0.1095	−0.201%	$202K	$196K	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1097	−0.034%	$3K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1099	+0.147%	$17K	$1K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1098	+0.050%	$24K	—	150x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+1.258%	$3K	$124K	12x	as long as short
Orderly PERP_POL_USDC	+0.0039%	4h	0.1097	−0.036%	$11K	$266K	20x	as long as short
Lighter POLshort	+0.0096%	1h	0.1097	+0.016%	$283K	$550K	8x
Aster POLUSDT	+0.0100%	4h	0.1098	+0.081%	$365K	$269K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1097	−0.014%	$17.1M	$42.0M	75x	as long as short
Bybit POLUSDT	+0.0100%	4h	0.1096	−0.082%	$15.8M	$11.7M	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	0.1097	−0.036%	$5.7M	$10.0M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1096	−0.109%	$1.8M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1097	+0.009%	$24.3M	$3.6M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1098	+0.055%	$2.9M	$973K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1097	0.000%	$4.1M	$4.6M	50x	as long as short
BingX POL-USDC	+0.0100%	4h	0.1097	−0.018%	—	$1.6M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1096	−0.068%	$607K	$209K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1100	+0.228%	$1.1M	$2.7M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1101	+0.346%	$195K	$634K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1097	−0.037%	$95K	$453K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1095	−0.199%	$40K	—	3x	as long as short
Hyperliquid POL	+0.0200%	1h	0.1099	+0.155%	$7.4M	$3.7M	5x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1098	+0.046%	$3K	—	100x	as long as short
Kraken Futures PF_POLUSD	+0.0315%	1h	0.1097	+0.024%	$1.2M	$1.2M	50x	as long as short
BloFin POL-USDTlong	+0.0340%	4h	0.1097	long leg	$910K	$167K	75x