Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0228%/8h= +25.0% APRpaid last 24h +0.185%

Price spread now: BingX against Coinbase International+0.738%7-day average +0.379% · you sell dearer than you buy

Net, funding: paid 7d − costs−$126as in the Funding arb table

Net, price: spread back to 7d avg − costs−$144as in the Price arb table

costs, in and out, $10k−$1801.803% of the position

Long on Coinbase International Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.547%+$55 on $10k

Price spread, last 3 days (all we have)+0.588%+$59 · spread now +0.738%, 7d avg +0.379%

Together, before fees+1.135%+$114 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and BingX is 0.359% dearer against Coinbase International than usual: you sell high and buy low: +$36 more if the spread goes back to its 7-day average of +0.379%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International POL-PERP-INTX	0.1111	−0.0128	get 0.0016% / 1h	51m 11s	$202K	$250K	50x
Short	BingX POL-USDC	0.1119	0.0100	get 0.0050% / 4h	1h 51m	—	$1.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Coinbase International. 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 Coinbase InternationalbpFee BingXbpOrdersPrice spread, now +0.738%Rate

Funding earned: $47.88
Price spread: +0.738% → +0.379%: $35.89
Slippage, 4 orders: −$160.29
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$96.51
Costs to cover: 1.803%
Break-even: 21.1 days

Slippage from Coinbase International: live order book, 32 min ago; BingX: live order book, 10 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 Coinbase International live order book, 32 min ago	8.92 bp	13.9 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 10 min ago	4.48 bp	72.1 bp −$72	234.0 bp −$2,340	1159.0 bp −$115.9K	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	0.000%	$3K	$124K	12x	as long as short
Coinbase International POL-PERP-INTXlong	−0.0128%	1h	0.1111	long leg	$202K	$250K	50x
Kraken Futures PF_POLUSD	−0.0072%	1h	0.1120	+0.813%	$1.2M	$1.8M	50x	as long as short
Orderly PERP_POL_USDC	−0.0024%	4h	0.1119	+0.729%	$11K	$203K	20x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1119	+0.731%	$3K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1121	+0.890%	$17K	$3K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0006%	1h	0.1120	+0.814%	$22K	—	150x	as long as short
Lighter POL	+0.0096%	1h	0.1119	+0.761%	$310K	$558K	8x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1120	+0.810%	$372K	$359K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1119	+0.723%	$17.1M	$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 POLUSDT	+0.0100%	4h	0.1119	+0.693%	$16.1M	$16.0M	75x	as long as short
OKX POL-USDT-SWAP	+0.0100%	4h	0.1119	+0.738%	$5.8M	$12.1M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1119	+0.702%	$1.9M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1119	+0.729%	$23.6M	$3.8M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1120	+0.828%	$2.8M	$1.1M	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1120	+0.810%	$4.2M	$5.9M	50x	as long as short
BingX POL-USDCshort	+0.0100%	4h	0.1119	+0.738%	—	$1.6M	—
Variational Omni POL	+0.0100%	4h	0.1120	+0.824%	$661K	$211K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1122	+0.980%	$1.1M	$3.4M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1122	+0.990%	$199K	$661K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1119	+0.715%	$93K	$427K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1118	+0.608%	$41K	—	3x	as long as short
Hyperliquid POL	+0.0162%	1h	0.1121	+0.945%	$7.6M	$4.6M	5x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0211% / S −0.0606%	1h	0.1120	+0.800%	$3K	—	100x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1120	+0.774%	$904K	$169K	75x	as long as short