Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0111%/8h= −12.1% APRpaid last 24h −0.042%

Price spread now: Binance against GMX−0.038%7-day average — · you buy dearer than you sell

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

Long on GMX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 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

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Binance is 0.038% cheaper against GMX than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX POL/USD [ETH-USDC]	0.1114	L +0.0211% / S −0.0606%	pay 0.0026% / 1h	38m 17s	$3K	—	100x
Short	Binance POLUSDT	0.1114	0.0100	get 0.0050% / 4h	2h 38m	$17.0M	$51.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against GMX. 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 GMXbpFee BinancebpOrdersPrice spread, now −0.038%Rate

Funding earned: −$23.29
Price spread: −0.038% → 0.000%: −$3.77
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$49.06
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Binance: live order book, 4 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell Binance live order book, 4 min ago	0.45 bp	12.9 bp −$13	29.8 bp −$298	137.3 bp −$13.7K	doesn't fit

GMX: 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
ApeX Omni POLUSDT	−0.0154%	1h	0.1113	−0.118%	$197K	$661K	50x	as long as short
Coinbase International POL-PERP-INTX	−0.0080%	1h	0.1111	−0.298%	$202K	$254K	50x	as long as short
Kraken Futures PF_POLUSD	−0.0072%	1h	0.1114	−0.001%	$1.2M	$1.8M	50x	as long as short
Orderly PERP_POL_USDC	−0.0039%	4h	0.1114	−0.056%	$11K	$209K	20x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1113	−0.105%	$3K	—	—	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0006%	1h	0.1114	−0.009%	$22K	—	150x	as long as short
dYdX POL-USD	+0.0004%	1h	0.1112	−0.186%	$17K	$3K	5x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	−0.298%	$3K	$124K	12x	as long as short
GRVT POL_USDT_Perp	+0.0064%	4h	0.1112	−0.235%	$1.1M	$3.5M	10x	as long as short
OKX POL-USDT-SWAP	+0.0096%	4h	0.1114	−0.029%	$5.8M	$12.1M	50x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter POL	+0.0096%	1h	0.1114	−0.020%	$311K	$559K	8x	as long as short
Hyperliquid POL	+0.0100%	1h	0.1116	+0.115%	$7.6M	$4.6M	5x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1114	−0.039%	$370K	$383K	20x	as long as short
Binance POLUSDTshort	+0.0100%	4h	0.1114	−0.038%	$17.0M	$51.9M	75x
Bybit POLUSDT	+0.0100%	4h	0.1113	−0.101%	$16.0M	$16.4M	75x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1112	−0.208%	$1.9M	$1.4M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1114	−0.047%	$23.4M	$4.0M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1113	−0.109%	$2.8M	$1.1M	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1114	−0.011%	$4.1M	$6.0M	50x	as long as short
BingX POL-USDT	+0.0100%	4h	0.1113	−0.083%	—	$7.2M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1111	−0.271%	$657K	$211K	—	as long as short
Extended POL-USD	+0.0104%	1h	0.1114	−0.069%	$93K	$427K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1113	−0.163%	$41K	—	3x	as long as short
GMX POL/USD [ETH-USDC]long	L +0.0211% / S −0.0606%	1h	0.1114	long leg	$3K	—	100x
BloFin POL-USDT	+0.0340%	4h	0.1113	−0.145%	$903K	$167K	75x	as long as short