Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0194%/8h= −21.2% APRpaid last 24h −0.103%

Price spread now: Orderly against GMX−0.059%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 Orderly

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 −$6 a day on $10k at the current rate, and Orderly is 0.059% cheaper against GMX than usual: you would sell low and buy high (−$6 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]	0.1120	L +0.0217% / S −0.0750%	pay 0.0027% / 1h	17m 27s	$3K	—	100x
Short	Orderly PERP_POL_USDC	0.1120	0.0023	get 0.0011% / 4h	3h 17m	$11K	$164K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.059%Rate

Funding earned: −$40.68
Price spread: −0.059% → 0.000%: −$5.89
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$64.57
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Orderly: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—

GMX and Orderly: 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
Kraken Futures PF_POLUSD	−0.0239%	1h	0.1122	+0.131%	$1.2M	$1.3M	50x	as long as short
Coinbase International POL-PERP-INTX	−0.0152%	1h	0.1116	−0.380%	$204K	$199K	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1122	+0.182%	$3K	—	—	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1123	+0.241%	$24K	—	150x	as long as short
dYdX POL-USD	+0.0019%	1h	0.1122	+0.136%	$17K	$4K	5x	as long as short
Orderly PERP_POL_USDCshort	+0.0023%	4h	0.1120	−0.059%	$11K	$164K	20x
Injective POL/USDC PERP	+0.0033%	1h	0.1111	−0.827%	$3K	$124K	12x	as long as short
Lighter POL	+0.0096%	1h	0.1123	+0.233%	$293K	$585K	8x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1122	+0.154%	$373K	$303K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1122	+0.185%	$17.3M	$44.3M	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	0.1122	+0.155%	$16.2M	$13.0M	75x	as long as short
OKX POL-USDT-SWAP	+0.0100%	4h	0.1122	+0.155%	$5.8M	$10.5M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1121	+0.039%	$1.9M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1122	+0.182%	$24.3M	$3.7M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1122	+0.129%	$3.0M	$980K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1123	+0.209%	$4.2M	$4.7M	50x	as long as short
BingX POL-USDC	+0.0100%	4h	0.1121	+0.093%	—	$1.6M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1121	+0.058%	$620K	$224K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1121	+0.046%	$1.1M	$2.9M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1122	+0.155%	$199K	$646K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1122	+0.194%	$94K	$449K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1119	−0.110%	$41K	—	3x	as long as short
Hyperliquid POL	+0.0150%	1h	0.1124	+0.378%	$7.6M	$3.9M	5x	as long as short
GMX POL/USD [ETH-USDC]long	L +0.0217% / S −0.0750%	1h	0.1120	long leg	$3K	—	100x
BloFin POL-USDT	+0.0340%	4h	0.1120	+0.012%	$911K	$159K	75x	as long as short