Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.210%

Price spread now: dYdX against Bybit+0.237%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. dYdX is 0.237% dearer against Bybit than usual: you sell high and buy low (spread +0.237% now, against zero (this spread has no 7-day history yet)): +$24 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 7.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit POLUSDT	0.1097	0.0100	pay 0.0050% / 4h	52m 02s	$15.8M	$11.7M	75x
Short	dYdX POL-USD	0.1100	0	get 0.0000% / 1h	52m 02s	$17K	$1K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.237%Rate

Funding earned: −$21
Price spread: +0.237% → 0.000%: $23.7
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$18.3
Costs to cover: 0.210%
Break-even: from the start

Slippage unknown: Bybit: live order book, 1 min ago; dYdX: no order-book sample. Net counts fees only.

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, 1 min ago	0.91 bp	13.0 bp −$13	30.8 bp −$308	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.1096	−0.109%	$202K	$196K	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1097	+0.018%	$3K	—	—	as long as short
dYdX POL-USDshort	0.0000%	1h	0.1100	+0.237%	$17K	$1K	5x
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1098	+0.109%	$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	+0.0038%	4h	0.1097	+0.018%	$11K	$266K	20x	as long as short
ApeX Omni POLUSDT	+0.0045%	1h	0.1098	+0.073%	$195K	$633K	50x	as long as short
Lighter POL	+0.0096%	1h	0.1098	+0.049%	$283K	$550K	8x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1099	+0.172%	$365K	$269K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1098	+0.037%	$17.1M	$42.0M	75x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit POLUSDTlong	+0.0100%	4h	0.1097	long leg	$15.8M	$11.7M	75x
OKX POL-USDT-SWAP	+0.0100%	4h	0.1098	+0.046%	$5.7M	$10.0M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1098	+0.036%	$1.8M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1098	+0.036%	$24.3M	$3.6M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1099	+0.146%	$2.9M	$973K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1099	+0.137%	$4.1M	$4.6M	50x	as long as short
BingX POL-USDT	+0.0100%	4h	0.1099	+0.146%	—	$7.2M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1101	+0.312%	$609K	$209K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1100	+0.249%	$1.1M	$2.7M	10x	as long as short
Extended POL-USD	+0.0104%	1h	0.1097	+0.009%	$95K	$453K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1095	−0.166%	$40K	—	3x	as long as short
Hyperliquid POL	+0.0205%	1h	0.1100	+0.219%	$7.4M	$3.7M	5x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1098	+0.087%	$3K	—	100x	as long as short
Kraken Futures PF_POLUSD	+0.0314%	1h	0.1098	+0.075%	$1.2M	$1.2M	50x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1100	+0.228%	$912K	$167K	75x	as long as short