Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0228%/8h= +25.0% APRpaid last 24h +0.168%

Price spread now: Bybit against Coinbase International−0.116%7-day average +0.357% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$133as in the Price arb table

costs, in and out, $10k−$850.854% of the position

Long on Coinbase International Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.475%+$47 on $10k

Price spread, last 3 days (all we have)+1.222%+$122 · spread now −0.116%, 7d avg +0.357%

Together, before fees+1.697%+$170 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.474% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.116% now, against its 7-day average of +0.357%). If the spread goes back, that is −$47 on $10k: about 6.9 days of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International POL-PERP-INTX	0.1119	−0.0128	get 0.0016% / 1h	35m 02s	$205K	$225K	50x
Short	Bybit POLUSDT	0.1118	0.0100	get 0.0050% / 4h	35m 02s	$16.1M	$15.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.116%Rate

Funding earned: $47.88
Price spread: −0.116% → +0.357%: −$47.36
Slippage, 4 orders: −$64.42
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$84.9
Costs to cover: 0.854%
Break-even: 19.4 days

Slippage from Coinbase International: live order book, 43 min ago; Bybit: live order book, 3 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, 43 min ago	8.88 bp	22.5 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.45 bp	12.4 bp −$12	32.9 bp −$329	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-INTXlong	−0.0128%	1h	0.1119	long leg	$205K	$225K	50x
Kraken Futures PF_POLUSD	−0.0072%	1h	0.1118	−0.073%	$1.2M	$1.8M	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1117	−0.153%	$3K	—	—	as long as short
dYdX POL-USD	+0.0002%	1h	0.1119	+0.006%	$17K	$3K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1118	−0.051%	$24K	—	150x	as long as short
Orderly PERP_POL_USDC	+0.0007%	4h	0.1117	−0.152%	$11K	$190K	20x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	−0.715%	$3K	$124K	12x	as long as short
Lighter POL	+0.0096%	1h	0.1118	−0.112%	$298K	$572K	8x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1119	−0.044%	$372K	$353K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1118	−0.054%	$17.2M	$50.4M	75x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit POLUSDTshort	+0.0100%	4h	0.1118	−0.116%	$16.1M	$15.4M	75x
OKX POL-USDT-SWAP	+0.0100%	4h	0.1118	−0.080%	$5.8M	$11.8M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1119	−0.045%	$1.9M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1118	−0.134%	$24.3M	$3.8M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1118	−0.080%	$2.8M	$1.1M	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1118	−0.107%	$4.1M	$5.5M	50x	as long as short
BingX POL-USDT	+0.0100%	4h	0.1118	−0.116%	—	$7.2M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1117	−0.154%	$661K	$183K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1119	−0.026%	$1.1M	$3.2M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1119	0.000%	$197K	$655K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1117	−0.149%	$93K	$427K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1118	−0.134%	$41K	—	3x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0216% / S −0.0750%	1h	0.1118	−0.069%	$3K	—	100x	as long as short
Hyperliquid POL	+0.0295%	1h	0.1120	+0.107%	$7.6M	$4.0M	5x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1118	−0.125%	$911K	$168K	75x	as long as short