Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0171%/8h= −18.7% APRpaid last 24h −0.107%

Price spread now: Kraken Futures against Bybit+0.061%7-day average +0.082% · you sell dearer than you buy

Net, funding: paid 7d − costs−$94as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$660.662% of the position

Long on Bybit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.282%−$28 on $10k

Price spread, last 3 days (all we have)−0.302%−$30 · spread now +0.061%, 7d avg +0.082%

Together, before fees−0.585%−$58 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Kraken Futures is 0.021% cheaper against Bybit than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.082%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit POLUSDT	0.1125	0.0100	pay 0.0050% / 4h	1h 36m	$16.2M	$15.9M	75x
Short	Kraken Futures PF_POLUSD	0.1126	−0.0071	pay 0.0009% / 1h	36m 02s	$1.2M	$1.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.061%Rate

Funding earned: −$35.95
Price spread: +0.061% → +0.082%: −$2.14
Slippage, 4 orders: −$45.16
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$104.26
Costs to cover: 0.662%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 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 Bybit live order book, 2 min ago	1.78 bp	11.8 bp −$12	35.7 bp −$357	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 2 min ago	5.77 bp	19.9 bp −$20	68.8 bp −$688	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
Injective POL/USDC PERP	−0.0162%	1h	0.1111	−1.288%	$3K	$124K	12x	as long as short
Coinbase International POL-PERP-INTX	−0.0128%	1h	0.1126	+0.044%	$205K	$233K	50x	as long as short
Kraken Futures PF_POLUSDshort	−0.0071%	1h	0.1126	+0.061%	$1.2M	$1.8M	50x
Orderly PERP_POL_USDC	−0.0023%	4h	0.1125	0.000%	$11K	$201K	20x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1125	−0.022%	$3K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1126	+0.026%	$17K	$3K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0006%	1h	0.1126	+0.083%	$22K	—	150x	as long as short
Lighter POL	+0.0096%	1h	0.1126	+0.027%	$307K	$570K	8x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1126	+0.044%	$374K	$357K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1126	+0.031%	$17.2M	$51.5M	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	0.1125	long leg	$16.2M	$15.9M	75x
OKX POL-USDT-SWAP	+0.0100%	4h	0.1125	0.000%	$5.8M	$12.1M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1125	−0.053%	$1.9M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1126	+0.009%	$23.8M	$3.8M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1125	−0.018%	$2.8M	$1.1M	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1126	+0.036%	$4.2M	$5.9M	50x	as long as short
BingX POL-USDT	+0.0100%	4h	0.1125	−0.018%	—	$7.2M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1122	−0.282%	$663K	$193K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1126	+0.009%	$1.1M	$3.3M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1126	+0.044%	$199K	$658K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1125	0.000%	$94K	$427K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1124	−0.089%	$41K	—	3x	as long as short
Hyperliquid POL	+0.0155%	1h	0.1128	+0.178%	$7.6M	$4.6M	5x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0211% / S −0.0606%	1h	0.1126	+0.067%	$3K	—	100x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1127	+0.107%	$905K	$170K	75x	as long as short