Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0095%/8h= +10.4% APRpaid last 24h −0.376%

Price spread now: Bybit against dYdX−0.094%50s7-day average — · you buy dearer than you sell

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

Long on dYdX Short on Bybit

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

Funding pays, the price is against you. Bybit is 0.094% cheaper against dYdX than usual: you would sell low and buy high (spread −0.094% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 3.3 days of funding at the current rate (+$3 a day). The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX POL-USD	0.1127	0.0005	pay 0.0001% / 1h	22m 59s	$17K	$3K	5x
Short	Bybit POLUSDT	0.1126	0.0100	get 0.0050% / 4h	1h 22m	$16.2M	$15.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against dYdX. 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 dYdXbpFee BybitbpOrdersPrice spread, now −0.094%Rate

Funding earned: $19.98
Price spread: −0.094% → 0.000%: −$9.44
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$10.47
Costs to cover: 0.210%
Break-even: 10.7 days

Slippage unknown: dYdX: no order-book sample; Bybit: live order book, just now. 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 dYdX no order-book sample	—	—	—	—	—
Sell Bybit live order book, just now	0.44 bp	12.7 bp −$13	34.2 bp −$342	doesn't fit	doesn't fit

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
Injective POL/USDC PERP	−0.0162%	1h	0.1111	−1.452%	$3K	$124K	12x	as long as short
Coinbase International POL-PERP-INTX	−0.0128%	1h	0.1125	−0.210%	$206K	$236K	50x	as long as short
Kraken Futures PF_POLUSD	−0.0071%	1h	0.1127	+0.004%	$1.2M	$1.8M	50x	as long as short
Orderly PERP_POL_USDC	−0.0017%	4h	0.1126	−0.094%	$11K	$199K	20x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1126	−0.136%	$3K	—	—	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0006%	1h	0.1127	−0.047%	$22K	—	150x	as long as short
dYdX POL-USDlong	+0.0005%	1h	0.1127	long leg	$17K	$3K	5x
Lighter POL	+0.0096%	1h	0.1127	−0.040%	$306K	$572K	8x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1127	−0.040%	$376K	$360K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1127	−0.046%	$17.4M	$51.6M	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	0.1126	−0.094%	$16.2M	$15.8M	75x
OKX POL-USDT-SWAP	+0.0100%	4h	0.1127	−0.059%	$5.8M	$12.1M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1126	−0.103%	$1.9M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1127	−0.032%	$23.8M	$3.8M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1127	−0.077%	$2.8M	$1.1M	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1127	−0.032%	$4.2M	$5.9M	50x	as long as short
BingX POL-USDT	+0.0100%	4h	0.1126	−0.086%	—	$7.2M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1125	−0.196%	$665K	$193K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1128	+0.027%	$1.1M	$3.3M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1127	−0.032%	$199K	$658K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1127	−0.043%	$94K	$427K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1125	−0.208%	$41K	—	3x	as long as short
Hyperliquid POL	+0.0200%	1h	0.1129	+0.145%	$7.6M	$4.6M	5x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0211% / S −0.0606%	1h	0.1127	−0.061%	$3K	—	100x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1126	−0.086%	$916K	$170K	75x	as long as short