Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.033%

Price spread now: Variational Omni against Hyperliquid−0.565%7-day average −0.152% · you buy dearer than you sell

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

Long on Hyperliquid Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.032%−$3 on $10k

Price spread, last 3 days (all we have)+0.423%+$42 · spread now −0.565%, 7d avg −0.152%

Together, before fees+0.391%+ Points / potential airdropHyperliquid: Season 2 · Variational Omni: Active · farm board+$39 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.412% cheaper against Hyperliquid than usual: you would sell low and buy high, −$41 on $10k if it goes back to its 7-day average of −0.152%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid POL	0.1110	0.0100	pay 0.0013% / 1h	51m 44s	$7.5M	$3.9M	5x
Short	Variational Omni POL	0.1104	0.0100	get 0.0050% / 4h	2h 51m	$611K	$224K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Hyperliquid. 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 HyperliquidbpFee Variational OmnibpOrdersPrice spread, now −0.565%Rate

Funding earned: $0
Price spread: −0.565% → −0.152%: −$41.24
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$50.24
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 10 min ago; Variational Omni: RFQ quote, 17 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 Hyperliquid live order book, 10 min ago	0.90 bp	15.4 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 17 min ago	8.90 bp	doesn't fit	44.5 bp −$445	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
ApeX Omni POLUSDT	−0.0849%	1h	0.1109	−0.117%	$196K	$644K	50x	as long as short
Coinbase International POL-PERP-INTX	−0.0312%	1h	0.1103	−0.657%	$203K	$202K	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1109	−0.101%	$3K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1110	−0.045%	$17K	$4K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1109	−0.089%	$24K	—	150x	as long as short
Orderly PERP_POL_USDC	+0.0033%	4h	0.1108	−0.180%	$11K	$191K	20x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+0.063%	$3K	$124K	12x	as long as short
Lighter POL	+0.0096%	1h	0.1108	−0.199%	$286K	$575K	8x	as long as short
Hyperliquid POLlong	+0.0100%	1h	0.1110	long leg	$7.5M	$3.9M	5x
Aster POLUSDT	+0.0100%	4h	0.1109	−0.122%	$368K	$275K	20x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance POLUSDT	+0.0100%	4h	0.1109	−0.144%	$17.1M	$44.0M	75x	as long as short
Bybit POLUSDT	+0.0100%	4h	0.1108	−0.216%	$16.0M	$12.7M	75x	as long as short
OKX POL-USDT-SWAP	+0.0100%	4h	0.1108	−0.207%	$5.7M	$10.5M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1109	−0.144%	$1.8M	$1.2M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1109	−0.153%	$24.0M	$3.6M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1109	−0.099%	$2.9M	$986K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1109	−0.144%	$4.1M	$4.8M	50x	as long as short
BingX POL-USDC	+0.0100%	4h	0.1108	−0.171%	—	$1.6M	—	as long as short
Variational Omni POLshort	+0.0100%	4h	0.1104	−0.565%	$611K	$224K	—
GRVT POL_USDT_Perp	+0.0100%	4h	0.1106	−0.378%	$1.1M	$2.8M	10x	as long as short
Extended POL-USD	+0.0104%	1h	0.1109	−0.145%	$92K	$447K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1108	−0.207%	$41K	—	3x	as long as short
Kraken Futures PF_POLUSD	+0.0116%	1h	0.1109	−0.084%	$1.2M	$1.3M	50x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1109	−0.095%	$3K	—	100x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1106	−0.423%	$910K	$155K	75x	as long as short