Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0016%/8h= −1.8% APRpaid last 24h +0.121%

Price spread now: BingX against Kraken Futures−0.041%7-day average −0.064% · you buy dearer than you sell

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$690.687% of the position

Long on Kraken Futures Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.360%+$36 on $10k

Price spread, last 3 days (all we have)+0.133%+$13 · spread now −0.041%, 7d avg −0.064%

Together, before fees+0.493%+$49 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.023% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.041% now, against its 7-day average of −0.064%): +$2 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 4.6 days. Mind the row above: over the last 7 days funding on this pair paid +0.360%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_POLUSD	0.1106	0.0116	pay 0.0015% / 1h	27m 42s	$1.2M	$1.2M	50x
Short	BingX POL-USDT	0.1106	0.0100	get 0.0050% / 4h	2h 27m	—	$7.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.041%Rate

Funding earned: −$3.44
Price spread: −0.041% → −0.064%: $2.26
Slippage, 4 orders: −$48.68
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$69.86
Costs to cover: 0.687%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 1 min ago; BingX: live order book, 5 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	6.32 bp	11.9 bp −$12	50.8 bp −$508	doesn't fit	doesn't fit
Sell BingX live order book, 5 min ago	2.26 bp	11.7 bp −$12	27.6 bp −$276	88.2 bp −$8,823	442.2 bp −$221.1K

POL on 24 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	−0.0312%	1h	0.1101	−0.493%	$203K	$204K	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1105	−0.154%	$3K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1107	+0.031%	$17K	$4K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1106	−0.065%	$24K	—	150x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+0.411%	$3K	$124K	12x	as long as short
Orderly PERP_POL_USDC	+0.0039%	4h	0.1105	−0.086%	$11K	$328K	20x	as long as short
Lighter POL	+0.0096%	1h	0.1106	−0.061%	$286K	$576K	8x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1106	−0.057%	$368K	$275K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1106	−0.074%	$17.1M	$44.0M	75x	as long as short
Bybit POLUSDT	+0.0100%	4h	0.1106	−0.059%	$16.0M	$12.5M	75x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX POL-USDT-SWAP	+0.0100%	4h	0.1106	−0.068%	$5.7M	$10.5M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1105	−0.141%	$1.8M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1106	−0.023%	$23.9M	$3.6M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1106	−0.014%	$2.9M	$1.0M	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1106	−0.005%	$4.2M	$4.9M	50x	as long as short
BingX POL-USDTshort	+0.0100%	4h	0.1106	−0.041%	—	$7.2M	—
Variational Omni POL	+0.0100%	4h	0.1103	−0.305%	$611K	$224K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1103	−0.302%	$1.1M	$2.8M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1103	−0.312%	$195K	$641K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1106	−0.038%	$95K	$446K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1104	−0.211%	$40K	—	3x	as long as short
Kraken Futures PF_POLUSDlong	+0.0116%	1h	0.1106	long leg	$1.2M	$1.2M	50x
Hyperliquid POL	+0.0198%	1h	0.1108	+0.103%	$7.5M	$3.8M	5x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1106	−0.084%	$3K	—	100x	as long as short