Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0180%/8h= −19.7% APRpaid last 24h −0.187%

Price spread now: Coinbase International against Bybit+0.045%7-day average −0.362% · you sell dearer than you buy

Net, funding: paid 7d − costs−$123as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$770.775% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.453%−$45 on $10k

Price spread, last 3 days (all we have)−2.325%−$232 · spread now +0.045%, 7d avg −0.362%

Together, before fees−2.778%−$278 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.407% dearer against Bybit than usual: you sell high and buy low (spread +0.045% now, against its 7-day average of −0.362%): +$41 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 7.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit POLUSDT	0.1113	0.0100	pay 0.0050% / 4h	2h 54m	$16.0M	$16.6M	75x
Short	Coinbase International POL-PERP-INTX	0.1113	−0.0080	pay 0.0010% / 1h	54m 09s	$203K	$255K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bybit. 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 BybitbpFee Coinbase InternationalbpOrdersPrice spread, now +0.045%Rate

Funding earned: −$37.8
Price spread: +0.045% → −0.362%: $40.73
Slippage, 4 orders: −$56.46
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$74.53
Costs to cover: 0.775%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Coinbase International: live order book, 33 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 Bybit live order book, 4 min ago	0.45 bp	10.3 bp −$10	34.0 bp −$340	doesn't fit	doesn't fit
Sell Coinbase International live order book, 33 min ago	8.94 bp	38.1 bp −$38	doesn't fit	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-INTXshort	−0.0080%	1h	0.1113	+0.045%	$203K	$255K	50x
Kraken Futures PF_POLUSD	−0.0072%	1h	0.1113	+0.073%	$1.2M	$1.8M	50x	as long as short
Orderly PERP_POL_USDC	−0.0043%	4h	0.1113	+0.018%	$11K	$213K	20x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1112	−0.025%	$3K	—	—	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0006%	1h	0.1114	+0.121%	$22K	—	150x	as long as short
dYdX POL-USD	+0.0018%	1h	0.1116	+0.313%	$17K	$3K	5x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1113	+0.045%	$3K	$73K	12x	as long as short
GRVT POL_USDT_Perp	+0.0068%	4h	0.1115	+0.186%	$1.1M	$3.5M	10x	as long as short
ApeX Omni POLUSDT	+0.0084%	1h	0.1115	+0.225%	$197K	$659K	50x	as long as short
Lighter POL	+0.0096%	1h	0.1113	+0.052%	$321K	$549K	8x	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	+0.0098%	4h	0.1112	−0.009%	$5.8M	$12.3M	50x	as long as short
Hyperliquid POL	+0.0100%	1h	0.1114	+0.171%	$7.5M	$4.6M	5x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1114	+0.138%	$370K	$383K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1113	0.000%	$17.0M	$52.3M	75x	as long as short
Bybit POLUSDTlong	+0.0100%	4h	0.1113	long leg	$16.0M	$16.6M	75x
Gate POL_USDT	+0.0100%	4h	0.1113	0.000%	$1.9M	$1.4M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1113	+0.009%	$23.4M	$4.0M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1114	+0.153%	$2.8M	$1.1M	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1112	−0.009%	$4.1M	$6.0M	50x	as long as short
BingX POL-USDT	+0.0100%	4h	0.1113	+0.045%	—	$7.3M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1114	+0.107%	$658K	$260K	—	as long as short
Extended POL-USD	+0.0104%	1h	0.1113	+0.013%	$93K	$437K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1113	0.000%	$41K	—	3x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0211% / S −0.0606%	1h	0.1114	+0.092%	$3K	—	100x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1116	+0.360%	$909K	$169K	75x	as long as short