Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0228%/8h= −25.0% APRpaid last 24h −0.158%

Price spread now: Coinbase International against GRVT−0.237%7-day average −0.396% · you buy dearer than you sell

Net, funding: paid 7d − costs−$115as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$870.866% of the position

Long on GRVT Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.279%−$28 on $10k

Price spread, last 3 days (all we have)−1.158%−$116 · spread now −0.237%, 7d avg −0.396%

Together, before fees−1.437%+ Points / potential airdropGRVT: Active · farm board−$144 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.159% dearer against GRVT than usual: you sell high and buy low (spread −0.237% now, against its 7-day average of −0.396%): +$16 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 2.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT POL_USDT_Perp	0.1128	0.0100	pay 0.0050% / 4h	1h 22m	$1.1M	$3.3M	10x
Short	Coinbase International POL-PERP-INTX	0.1125	−0.0128	pay 0.0016% / 1h	22m 57s	$206K	$236K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against GRVT. 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 GRVTbpFee Coinbase InternationalbpOrdersPrice spread, now −0.237%Rate

Funding earned: −$47.88
Price spread: −0.237% → −0.396%: $15.89
Slippage, 4 orders: −$67.62
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$118.6
Costs to cover: 0.866%
Break-even: never at this rate

Slippage from GRVT: live order book, 1 min ago; Coinbase International: live order book, 60 min ago.

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 GRVT live order book, 1 min ago	0.89 bp	20.3 bp −$20	47.2 bp −$472	doesn't fit	doesn't fit
Sell Coinbase International live order book, 60 min ago	8.92 bp	37.9 bp −$38	doesn't fit	doesn't fit	doesn't fit

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	−1.478%	$3K	$124K	12x	as long as short
Coinbase International POL-PERP-INTXshort	−0.0128%	1h	0.1125	−0.237%	$206K	$236K	50x
Kraken Futures PF_POLUSD	−0.0071%	1h	0.1127	−0.023%	$1.2M	$1.8M	50x	as long as short
Orderly PERP_POL_USDC	−0.0017%	4h	0.1126	−0.121%	$11K	$199K	20x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1126	−0.163%	$3K	—	—	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0006%	1h	0.1127	−0.073%	$22K	—	150x	as long as short
dYdX POL-USD	+0.0005%	1h	0.1127	−0.027%	$17K	$3K	5x	as long as short
Lighter POL	+0.0096%	1h	0.1127	−0.067%	$306K	$572K	8x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1127	−0.067%	$376K	$360K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1127	−0.073%	$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 POLUSDT	+0.0100%	4h	0.1126	−0.121%	$16.2M	$15.8M	75x	as long as short
OKX POL-USDT-SWAP	+0.0100%	4h	0.1127	−0.086%	$5.8M	$12.1M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1126	−0.130%	$1.9M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1127	−0.059%	$23.8M	$3.8M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1127	−0.104%	$2.8M	$1.1M	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1127	−0.059%	$4.2M	$5.9M	50x	as long as short
BingX POL-USDT	+0.0100%	4h	0.1126	−0.112%	—	$7.2M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1125	−0.222%	$665K	$193K	—	as long as short
GRVT POL_USDT_Perplong	+0.0100%	4h	0.1128	long leg	$1.1M	$3.3M	10x
ApeX Omni POLUSDT	+0.0100%	1h	0.1127	−0.059%	$199K	$658K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1127	−0.070%	$94K	$427K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1125	−0.235%	$41K	—	3x	as long as short
Hyperliquid POL	+0.0200%	1h	0.1129	+0.118%	$7.6M	$4.6M	5x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0211% / S −0.0606%	1h	0.1127	−0.088%	$3K	—	100x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1126	−0.112%	$916K	$170K	75x	as long as short