Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +11.0% APRpaid last 24h +0.055%

Price spread now: Hyperliquid against GRVT+0.031%65s7-day average +0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$590.593% of the position

Long on GRVT Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.325%+$33 on $10k

Price spread, last 7 days−0.039%−$4 · spread now +0.031%, 7d avg +0.034%

Together, before fees+0.287%+ Points / potential airdropGRVT: Active · Hyperliquid: Season 2 · farm board+$29 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.034%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT POL_USDT_Perp	0.1129	0.0100	pay 0.0050% / 4h	1h 24m	$1.1M	$3.3M	10x
Short	Hyperliquid POL	0.1129	0.0200	get 0.0025% / 1h	24m 23s	$7.6M	$4.6M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.031%Rate

Funding earned: $21.03
Price spread: +0.031% → +0.034%: −$0.28
Slippage, 4 orders: −$41.25
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$38.5
Costs to cover: 0.593%
Break-even: 19.8 days

Slippage from GRVT: live order book, 4 min ago; Hyperliquid: live order book, 8 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, 4 min ago	1.77 bp	15.6 bp −$16	34.6 bp −$346	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 8 min ago	2.21 bp	14.1 bp −$14	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	−1.572%	$3K	$124K	12x	as long as short
Coinbase International POL-PERP-INTX	−0.0128%	1h	0.1125	−0.332%	$206K	$236K	50x	as long as short
Kraken Futures PF_POLUSD	−0.0071%	1h	0.1129	−0.021%	$1.2M	$1.8M	50x	as long as short
Orderly PERP_POL_USDC	−0.0018%	4h	0.1127	−0.199%	$11K	$199K	20x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1126	−0.221%	$3K	—	—	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0006%	1h	0.1128	−0.103%	$22K	—	150x	as long as short
dYdX POL-USD	+0.0005%	1h	0.1129	−0.019%	$17K	$3K	5x	as long as short
Lighter POL	+0.0096%	1h	0.1128	−0.048%	$306K	$572K	8x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1127	−0.128%	$375K	$360K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1127	−0.164%	$17.4M	$51.7M	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	−0.217%	$16.2M	$15.8M	75x	as long as short
OKX POL-USDT-SWAP	+0.0100%	4h	0.1126	−0.226%	$5.8M	$12.1M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1126	−0.226%	$1.9M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1127	−0.181%	$23.8M	$3.8M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1128	−0.102%	$2.8M	$1.1M	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1127	−0.190%	$4.2M	$5.9M	50x	as long as short
BingX POL-USDT	+0.0100%	4h	0.1127	−0.173%	—	$7.2M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1125	−0.318%	$665K	$193K	—	as long as short
GRVT POL_USDT_Perplong	+0.0100%	4h	0.1129	long leg	$1.1M	$3.3M	10x
ApeX Omni POLUSDT	+0.0100%	1h	0.1127	−0.155%	$199K	$659K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1127	−0.157%	$94K	$427K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1125	−0.336%	$41K	—	3x	as long as short
Hyperliquid POLshort	+0.0200%	1h	0.1129	+0.031%	$7.6M	$4.6M	5x
GMX POL/USD [ETH-USDC]	L +0.0211% / S −0.0606%	1h	0.1127	−0.134%	$3K	—	100x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1126	−0.235%	$916K	$170K	75x	as long as short