Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0017%/8h= −1.9% APRpaid last 24h −0.035%

Price spread now: Orderly against Injective+1.026%58s7-day average +0.259% · you sell dearer than you buy

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

Long on Injective Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.901%+$90 on $10k

Price spread, last 3 days (all we have)+0.915%+$91 · spread now +1.026%, 7d avg +0.259%

Together, before fees+1.816%+$182 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Orderly is 0.767% dearer against Injective than usual: you sell high and buy low (spread +1.026% now, against its 7-day average of +0.259%): +$77 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5 months. Mind the row above: over the last 7 days funding on this pair paid +0.901%, so the current rate has only just turned against you. The two prices were read 58 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	Injective POL/USDC PERP	0.1111	0.0033	pay 0.0004% / 1h	41m 42s	$3K	$124K	12x
Short	Orderly PERP_POL_USDC	0.1122	0.0016	get 0.0008% / 4h	3h 41m	$11K	$174K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpFee OrderlybpOrdersPrice spread, now +1.026%Rate

Funding earned: −$3.57
Price spread: +1.026% → +0.259%: $76.71
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Orderly: 3 bp × 2 orders: −$6
Net: $67.12
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Injective: live order book, 52 min ago; Orderly: 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 Injective live order book, 52 min ago	76.20 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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
Kraken Futures PF_POLUSD	−0.0239%	1h	0.1123	+1.109%	$1.2M	$1.3M	50x	as long as short
Coinbase International POL-PERP-INTX	−0.0152%	1h	0.1115	+0.360%	$204K	$200K	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1122	+1.002%	$3K	—	—	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1123	+1.088%	$24K	—	150x	as long as short
Orderly PERP_POL_USDCshort	+0.0016%	4h	0.1122	+1.026%	$11K	$174K	20x
Injective POL/USDC PERPlong	+0.0033%	1h	0.1111	long leg	$3K	$124K	12x
dYdX POL-USD	+0.0045%	1h	0.1123	+1.115%	$17K	$3K	5x	as long as short
Lighter POL	+0.0096%	1h	0.1122	+0.976%	$294K	$579K	8x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1123	+1.087%	$373K	$340K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1121	+0.920%	$17.3M	$45.7M	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	0.1121	+0.891%	$16.1M	$13.4M	75x	as long as short
OKX POL-USDT-SWAP	+0.0100%	4h	0.1121	+0.873%	$5.8M	$10.9M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1122	+1.017%	$1.9M	$1.2M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1123	+1.080%	$24.3M	$3.7M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1123	+1.089%	$3.0M	$1.0M	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1123	+1.053%	$4.2M	$4.9M	50x	as long as short
BingX POL-USDT	+0.0100%	4h	0.1122	+1.026%	—	$7.2M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1118	+0.664%	$619K	$225K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1119	+0.733%	$1.1M	$3.0M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1118	+0.630%	$197K	$643K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1123	+1.084%	$94K	$545K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1121	+0.945%	$41K	—	3x	as long as short
Hyperliquid POL	+0.0139%	1h	0.1124	+1.188%	$7.6M	$3.9M	5x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0217% / S −0.0750%	1h	0.1123	+1.086%	$3K	—	100x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1119	+0.684%	$909K	$159K	75x	as long as short