Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.061%

Price spread now: Binance against Kraken Futures+0.152%54s7-day average −0.047% · you sell dearer than you buy

Net, funding: paid 7d − costs−$56as 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−$680.684% of the position

Long on Kraken Futures Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.124%+$12 on $10k

Price spread, last 4 days (all we have)+0.029%+$3 · spread now +0.152%, 7d avg −0.047%

Together, before fees+0.153%+$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Binance is 0.198% dearer against Kraken Futures than usual: you sell high and buy low: +$20 more if the spread goes back to its 7-day average of −0.047%. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.124% in total (about 6.5% 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	Kraken Futures PF_POLUSD	0.1085	−0.0140	get 0.0018% / 1h	22m 24s	$1.1M	$1.0M	50x
Short	Binance POLUSDT	0.1086	0.0100	get 0.0050% / 4h	2h 22m	$16.6M	$38.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Kraken Futures. 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 Kraken FuturesbpFee BinancebpOrdersPrice spread, now +0.152%Rate

Funding earned: $50.49
Price spread: +0.152% → −0.047%: $19.82
Slippage, 4 orders: −$48.37
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: $1.94
Costs to cover: 0.684%
Break-even: 6.7 days

Slippage from Kraken Futures: live order book, 1 min ago; Binance: live order book, 4 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 Kraken Futures live order book, 1 min ago	8.29 bp	18.6 bp −$19	71.4 bp −$714	doesn't fit	doesn't fit
Sell Binance live order book, 4 min ago	0.46 bp	14.9 bp −$15	35.3 bp −$353	154.3 bp −$15.4K	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	−0.0480%	1h	0.1081	−0.346%	$199K	$200K	50x	as long as short
Gate POL_USDT	−0.0222%	4h	0.1085	−0.005%	$1.8M	$1.3M	75x	as long as short
Kraken Futures PF_POLUSDlong	−0.0140%	1h	0.1085	long leg	$1.1M	$1.0M	50x
Reya POLRUSDPERP	−0.0006%	1h	0.1086	+0.143%	$2K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1085	+0.067%	$18K	$4K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0003% / S −0.0001%	1h	0.1087	+0.213%	$12K	—	150x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+2.419%	$3K	$124K	12x	as long as short
Orderly PERP_POL_USDC	+0.0037%	4h	0.1087	+0.170%	$11K	$968K	20x	as long as short
ApeX Omni POLUSDT	+0.0074%	1h	0.1084	−0.070%	$192K	$628K	50x	as long as short
Lighter POL	+0.0096%	1h	0.1085	+0.045%	$276K	$542K	8x	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	+0.0099%	4h	0.1087	+0.170%	$5.6M	$9.5M	50x	as long as short
Hyperliquid POL	+0.0100%	1h	0.1088	+0.308%	$7.3M	$3.7M	5x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1086	+0.148%	$360K	$240K	20x	as long as short
Binance POLUSDTshort	+0.0100%	4h	0.1086	+0.152%	$16.6M	$38.2M	75x
Bybit POLUSDT	+0.0100%	4h	0.1086	+0.124%	$15.6M	$10.5M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1086	+0.161%	$24.5M	$3.2M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1086	+0.106%	$2.9M	$940K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1086	+0.161%	$4.0M	$4.2M	50x	as long as short
BingX POL-USDT	+0.0100%	4h	0.1086	+0.133%	—	$7.2M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1083	−0.141%	$600K	$166K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1085	+0.032%	$1.1M	$2.7M	10x	as long as short
Extended POL-USD	+0.0104%	1h	0.1086	+0.079%	$91K	$270K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1083	−0.162%	$40K	—	3x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1087	+0.215%	$3K	—	100x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1085	+0.069%	$893K	$159K	75x	as long as short