Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.038%

Price spread now: Variational Omni against Injective−0.949%46s7-day average +0.198% · you buy dearer than you sell

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

Long on Injective Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.119%+$12 on $10k

Price spread, last 4 days (all we have)+4.541%+$454 · spread now −0.949%, 7d avg +0.198%

Together, before fees+4.660%+ Points / potential airdropVariational Omni: Active · farm board+$466 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 1.147% cheaper against Injective than usual: you would sell low and buy high (spread −0.949% now, against its 7-day average of +0.198%). If the spread goes back, that is −$115 on $10k: about 57 days of funding at the current rate (+$2 a day). The two prices were read 46 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	44m 26s	$3K	$124K	12x
Short	Variational Omni POL	0.1100	0.0100	get 0.0050% / 4h	1h 44m	$609K	$209K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Injective. 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 InjectivebpFee Variational OmnibpOrdersPrice spread, now −0.949%Rate

Funding earned: $14
Price spread: −0.949% → +0.198%: −$114.71
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$100.73
Costs to cover: 0.000%
Break-even: 57.4 days

Slippage unknown: Injective: live order book, 40 min ago; Variational Omni: RFQ quote, 20 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 Injective live order book, 40 min ago	86.09 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 20 min ago	4.53 bp	doesn't fit	40.8 bp −$408	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	−0.0464%	1h	0.1098	−1.170%	$202K	$201K	50x	as long as short
ApeX Omni POLUSDT	−0.0133%	1h	0.1101	−0.900%	$195K	$635K	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1101	−0.921%	$3K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1101	−0.887%	$17K	$1K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1101	−0.860%	$24K	—	150x	as long as short
Injective POL/USDC PERPlong	+0.0033%	1h	0.1111	long leg	$3K	$124K	12x
Orderly PERP_POL_USDC	+0.0044%	4h	0.1101	−0.918%	$11K	$299K	20x	as long as short
Lighter POL	+0.0096%	1h	0.1102	−0.800%	$285K	$564K	8x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1101	−0.855%	$366K	$269K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1101	−0.911%	$17.1M	$42.2M	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	0.1100	−0.972%	$15.9M	$11.9M	75x	as long as short
OKX POL-USDT-SWAP	+0.0100%	4h	0.1100	−0.945%	$5.7M	$10.0M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1101	−0.918%	$1.8M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1101	−0.882%	$23.8M	$3.5M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1101	−0.873%	$2.9M	$968K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1101	−0.855%	$4.2M	$4.7M	50x	as long as short
BingX POL-USDC	+0.0100%	4h	0.1101	−0.909%	—	$1.7M	—	as long as short
Variational Omni POLshort	+0.0100%	4h	0.1100	−0.949%	$609K	$209K	—
GRVT POL_USDT_Perp	+0.0100%	4h	0.1100	−0.957%	$1.1M	$2.7M	10x	as long as short
Extended POL-USD	+0.0104%	1h	0.1101	−0.911%	$92K	$448K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1100	−0.990%	$40K	—	3x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1101	−0.882%	$3K	—	100x	as long as short
Hyperliquid POL	+0.0224%	1h	0.1103	−0.747%	$7.4M	$3.7M	5x	as long as short
Kraken Futures PF_POLUSD	+0.0260%	1h	0.1102	−0.786%	$1.2M	$1.2M	50x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1101	−0.882%	$911K	$161K	75x	as long as short