Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0110%/8h= −12.0% APRpaid last 24h −0.029%

Price spread now: Bitget against GMX−0.037%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 Bitget

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 Bitget is 0.037% 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]	0.1097	L +0.0210% / S −0.0388%	pay 0.0026% / 1h	32m 51s	$3K	—	100x
Short	Bitget POLUSDT	0.1097	0.0100	get 0.0050% / 4h	3h 32m	$4.0M	$4.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.037%Rate

Funding earned: −$23.03
Price spread: −0.037% → 0.000%: −$3.74
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$50.76
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Bitget: live order book, 5 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 Bitget live order book, 5 min ago	3.18 bp	14.8 bp −$15	19.2 bp −$192	doesn't fit	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
Coinbase International POL-PERP-INTX	−0.0512%	1h	0.1095	−0.192%	$202K	$198K	50x	as long as short
Kraken Futures PF_POLUSD	−0.0140%	1h	0.1096	−0.060%	$1.2M	$1.2M	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1096	−0.066%	$3K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1098	+0.072%	$17K	$2K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1097	−0.019%	$24K	—	150x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+1.266%	$3K	$124K	12x	as long as short
Orderly PERP_POL_USDC	+0.0043%	4h	0.1096	−0.074%	$11K	$405K	20x	as long as short
Gate POL_USDT	+0.0060%	4h	0.1096	−0.074%	$1.8M	$1.4M	75x	as long as short
Lighter POL	+0.0096%	1h	0.1097	−0.011%	$279K	$540K	8x	as long as short
Hyperliquid POL	+0.0100%	1h	0.1098	+0.099%	$7.4M	$3.7M	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster POLUSDT	+0.0100%	4h	0.1097	+0.003%	$364K	$247K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1097	−0.019%	$17.0M	$41.0M	75x	as long as short
Bybit POLUSDT	+0.0100%	4h	0.1097	−0.046%	$15.8M	$11.7M	75x	as long as short
OKX POL-USDT-SWAP	+0.0100%	4h	0.1097	−0.010%	$5.7M	$10.0M	50x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1097	−0.019%	$24.7M	$3.6M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1097	−0.037%	$2.9M	$970K	50x	as long as short
Bitget POLUSDTshort	+0.0100%	4h	0.1097	−0.037%	$4.0M	$4.3M	50x
BingX POL-USDC	+0.0100%	4h	0.1097	−0.019%	—	$1.6M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1097	0.000%	$607K	$206K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1097	+0.017%	$1.1M	$2.8M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1098	+0.081%	$195K	$635K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1096	−0.056%	$91K	$450K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1095	−0.185%	$40K	—	3x	as long as short
GMX POL/USD [ETH-USDC]long	L +0.0210% / S −0.0388%	1h	0.1097	long leg	$3K	—	100x
BloFin POL-USDT	+0.0340%	4h	0.1096	−0.101%	$906K	$164K	75x	as long as short