Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0216%/8h= +23.6% APRpaid last 24h −0.079%

Price spread now: Kraken Futures against GRVT−0.152%7-day average +0.067% · you buy dearer than you sell

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$91as in the Price arb table

costs, in and out, $10k−$700.696% of the position

Long on GRVT Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.105%−$10 on $10k

Price spread, last 4 days (all we have)−0.582%−$58 · spread now −0.152%, 7d avg +0.067%

Together, before fees−0.687%+ Points / potential airdropGRVT: Active · farm board−$69 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.219% cheaper against GRVT than usual: you would sell low and buy high (spread −0.152% now, against its 7-day average of +0.067%). If the spread goes back, that is −$22 on $10k: about 3.4 days of funding at the current rate (+$6 a day). Mind the row above: over the last 7 days funding on this pair cost −0.105%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.105% in total (about -5.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT POL_USDT_Perp	0.1095	0.0100	pay 0.0050% / 4h	47m 21s	$1.1M	$2.7M	10x
Short	Kraken Futures PF_POLUSD	0.1094	0.0316	get 0.0039% / 1h	47m 21s	$1.2M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.152%Rate

Funding earned: $45.31
Price spread: −0.152% → +0.067%: −$21.89
Slippage, 4 orders: −$50.58
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$46.16
Costs to cover: 0.696%
Break-even: 14.1 days

Slippage from GRVT: live order book, 1 min ago; Kraken Futures: live order book, 1 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	0.91 bp	14.7 bp −$15	3049.4 bp −$30.5K	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 1 min ago	10.51 bp	25.0 bp −$25	94.8 bp −$948	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
Coinbase International POL-PERP-INTX	−0.0520%	1h	0.1093	−0.201%	$201K	$196K	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1094	−0.089%	$3K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1095	−0.028%	$17K	$2K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1095	−0.014%	$24K	—	150x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+1.443%	$3K	$124K	12x	as long as short
Orderly PERP_POL_USDC	+0.0039%	4h	0.1094	−0.128%	$11K	$264K	20x	as long as short
Lighter POL	+0.0096%	1h	0.1094	−0.095%	$278K	$553K	8x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1095	+0.019%	$364K	$269K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1094	−0.067%	$17.0M	$42.0M	75x	as long as short
Bybit POLUSDT	+0.0100%	4h	0.1094	−0.128%	$15.7M	$11.8M	75x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX POL-USDT-SWAP	+0.0100%	4h	0.1094	−0.091%	$5.6M	$10.0M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1094	−0.137%	$1.8M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1095	−0.037%	$24.2M	$3.6M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1094	−0.101%	$2.9M	$973K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1095	−0.037%	$4.1M	$4.7M	50x	as long as short
BingX POL-USDC	+0.0100%	4h	0.1094	−0.110%	—	$1.6M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1096	+0.115%	$607K	$209K	—	as long as short
GRVT POL_USDT_Perplong	+0.0100%	4h	0.1095	long leg	$1.1M	$2.7M	10x
ApeX Omni POLUSDT	+0.0100%	1h	0.1096	+0.073%	$194K	$634K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1094	−0.100%	$94K	$453K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1092	−0.323%	$40K	—	3x	as long as short
Hyperliquid POL	+0.0176%	1h	0.1096	+0.109%	$7.4M	$3.7M	5x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1095	−0.032%	$3K	—	100x	as long as short
Kraken Futures PF_POLUSDshort	+0.0316%	1h	0.1094	−0.152%	$1.2M	$1.2M	50x
BloFin POL-USDT	+0.0340%	4h	0.1095	+0.009%	$909K	$167K	75x	as long as short