Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.179%

Price spread now: dYdX against GRVT−0.172%7-day average — · you buy dearer than you sell

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

Long on GRVT Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.172% cheaper against GRVT than usual: you would sell low and buy high (−$17 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	GRVT POL_USDT_Perp	0.1088	0.0100	pay 0.0050% / 4h	2h 38m	$1.1M	$2.8M	10x
Short	dYdX POL-USD	0.1086	0	get 0.0000% / 1h	38m 55s	$18K	$4K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.172%Rate

Funding earned: −$21
Price spread: −0.172% → 0.000%: −$17.22
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$57.22
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 5 min ago; dYdX: 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 GRVT live order book, 5 min ago	0.92 bp	18.2 bp −$18	275.3 bp −$2,753	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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	−0.0480%	1h	0.1086	−0.175%	$200K	$199K	50x	as long as short
Gate POL_USDT	−0.0238%	4h	0.1085	−0.248%	$1.8M	$1.3M	75x	as long as short
Kraken Futures PF_POLUSD	−0.0140%	1h	0.1087	−0.105%	$1.1M	$1.0M	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1086	−0.171%	$2K	—	—	as long as short
dYdX POL-USDshort	0.0000%	1h	0.1086	−0.172%	$18K	$4K	5x
gTrade (Gains Network) POL/USD	L +0.0003% / S −0.0001%	1h	0.1087	−0.103%	$12K	—	150x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+2.123%	$3K	$124K	12x	as long as short
Orderly PERP_POL_USDC	+0.0038%	4h	0.1086	−0.147%	$11K	$874K	20x	as long as short
Lighter POL	+0.0096%	1h	0.1087	−0.104%	$277K	$542K	8x	as long as short
OKX POL-USDT-SWAP	+0.0099%	4h	0.1087	−0.092%	$5.6M	$9.5M	50x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid POL	+0.0100%	1h	0.1088	+0.009%	$7.3M	$3.7M	5x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1087	−0.088%	$361K	$242K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1087	−0.074%	$16.6M	$38.5M	75x	as long as short
Bybit POLUSDT	+0.0100%	4h	0.1086	−0.129%	$15.6M	$10.7M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1087	−0.083%	$24.5M	$3.2M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1087	−0.119%	$2.9M	$939K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1087	−0.119%	$4.0M	$4.2M	50x	as long as short
BingX POL-USDT	+0.0100%	4h	0.1086	−0.138%	—	$7.2M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1089	+0.071%	$603K	$166K	—	as long as short
GRVT POL_USDT_Perplong	+0.0100%	4h	0.1088	long leg	$1.1M	$2.8M	10x
ApeX Omni POLUSDT	+0.0100%	1h	0.1090	+0.193%	$193K	$633K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1087	−0.100%	$91K	$276K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1085	−0.221%	$40K	—	3x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1087	−0.109%	$3K	—	100x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1087	−0.119%	$896K	$159K	75x	as long as short