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 −0.030%

Price spread now: Variational Omni against GMX+0.260%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Variational Omni

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—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.260% dearer against GMX than usual: you sell high and buy low (spread +0.260% now, against zero (this spread has no 7-day history yet)): +$26 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 7.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX POL/USD [ETH-USDC]	0.1115	L +0.0211% / S −0.0606%	pay 0.0026% / 1h	56m 55s	$3K	—	100x
Short	Variational Omni POL	0.1118	0.0100	get 0.0050% / 4h	2h 56m	$659K	$260K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.260%Rate

Funding earned: −$23.28
Price spread: +0.260% → 0.000%: $25.97
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$9.31
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; Variational Omni: RFQ quote, 32 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 Variational Omni RFQ quote, 32 min ago	8.94 bp	doesn't fit	35.7 bp −$357	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	−0.0080%	1h	0.1115	−0.033%	$203K	$255K	50x	as long as short
Kraken Futures PF_POLUSD	−0.0072%	1h	0.1115	−0.007%	$1.2M	$1.8M	50x	as long as short
Orderly PERP_POL_USDC	−0.0043%	4h	0.1115	−0.069%	$11K	$214K	20x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1114	−0.099%	$3K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1115	+0.012%	$17K	$3K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0006%	1h	0.1116	+0.016%	$22K	—	150x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1113	−0.212%	$3K	$73K	12x	as long as short
GRVT POL_USDT_Perp	+0.0092%	4h	0.1117	+0.119%	$1.1M	$3.5M	10x	as long as short
Lighter POL	+0.0096%	1h	0.1115	−0.047%	$321K	$549K	8x	as long as short
Hyperliquid POL	+0.0100%	1h	0.1117	+0.110%	$7.6M	$4.7M	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	0.1115	−0.060%	$371K	$383K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1114	−0.078%	$17.0M	$52.8M	75x	as long as short
Bybit POLUSDT	+0.0100%	4h	0.1114	−0.096%	$16.1M	$16.7M	75x	as long as short
OKX POL-USDT-SWAP	+0.0100%	4h	0.1114	−0.114%	$5.8M	$12.4M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1116	+0.039%	$1.9M	$1.4M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1114	−0.087%	$23.4M	$4.0M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1116	+0.030%	$2.8M	$1.1M	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1114	−0.114%	$4.1M	$6.0M	50x	as long as short
BingX POL-USDT	+0.0100%	4h	0.1115	−0.051%	—	$7.3M	—	as long as short
Variational Omni POLshort	+0.0100%	4h	0.1118	+0.260%	$659K	$260K	—
ApeX Omni POLUSDT	+0.0100%	1h	0.1116	+0.056%	$197K	$659K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1114	−0.119%	$93K	$437K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1113	−0.194%	$41K	—	3x	as long as short
GMX POL/USD [ETH-USDC]long	L +0.0211% / S −0.0606%	1h	0.1115	long leg	$3K	—	100x
BloFin POL-USDT	+0.0340%	4h	0.1114	−0.123%	$907K	$169K	75x	as long as short