Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0411%/8h= +45.0% APRpaid last 24h +0.164%

Price spread now: BloFin against Kraken Futures−0.166%57s7-day average −0.071% · you buy dearer than you sell

Net, funding: paid 7d − costs−$21as 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−$580.576% of the position

Long on Kraken Futures Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.368%+$37 on $10k

Price spread, last 3 days (all we have)−0.040%−$4 · spread now −0.166%, 7d avg −0.071%

Together, before fees+0.327%+$33 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.095% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.166% now, against its 7-day average of −0.071%). If the spread goes back, that is −$10 on $10k: about 19 hours of funding at the current rate (+$12 a day). At the pace of the last 7 days (+0.368% in total) that is about 44 hours. The two prices were read 57 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	Kraken Futures PF_POLUSD	0.1128	−0.0071	get 0.0009% / 1h	31m 34s	$1.2M	$1.8M	50x
Short	BloFin POL-USDT	0.1126	0.0340	get 0.0170% / 4h	1h 31m	$904K	$170K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Kraken Futures. 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 Kraken FuturesbpFee BloFinbpOrdersPrice spread, now −0.166%Rate

Funding earned: $86.32
Price spread: −0.166% → −0.071%: −$9.54
Slippage, 4 orders: −$35.64
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $19.15
Costs to cover: 0.576%
Break-even: 5.4 days

Slippage from Kraken Futures: live order book, 2 min ago; BloFin: live order book, 50 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, 2 min ago	6.65 bp	17.3 bp −$17	37.6 bp −$376	doesn't fit	doesn't fit
Sell BloFin live order book, 50 min ago	0.89 bp	14.8 bp −$15	24.6 bp −$246	75.0 bp −$7,500	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
Injective POL/USDC PERP	−0.0162%	1h	0.1111	−1.514%	$3K	$124K	12x	as long as short
Coinbase International POL-PERP-INTX	−0.0128%	1h	0.1126	−0.184%	$205K	$233K	50x	as long as short
Kraken Futures PF_POLUSDlong	−0.0071%	1h	0.1128	long leg	$1.2M	$1.8M	50x
Orderly PERP_POL_USDC	−0.0020%	4h	0.1127	−0.095%	$11K	$200K	20x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1126	−0.158%	$3K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1128	−0.042%	$17K	$3K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0006%	1h	0.1128	−0.036%	$22K	—	150x	as long as short
Lighter POL	+0.0096%	1h	0.1127	−0.091%	$306K	$572K	8x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1129	+0.117%	$376K	$357K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1127	−0.074%	$17.3M	$51.8M	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	0.1126	−0.211%	$16.2M	$15.9M	75x	as long as short
OKX POL-USDT-SWAP	+0.0100%	4h	0.1126	−0.184%	$5.8M	$12.1M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1128	−0.042%	$1.9M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1127	−0.131%	$23.8M	$3.8M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1129	+0.073%	$2.8M	$1.1M	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1127	−0.078%	$4.2M	$5.9M	50x	as long as short
BingX POL-USDT	+0.0100%	4h	0.1126	−0.193%	—	$7.2M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1125	−0.262%	$664K	$193K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1126	−0.196%	$1.1M	$3.3M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1126	−0.184%	$199K	$659K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1127	−0.122%	$94K	$427K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1126	−0.207%	$41K	—	3x	as long as short
Hyperliquid POL	+0.0161%	1h	0.1130	+0.136%	$7.7M	$4.6M	5x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0211% / S −0.0606%	1h	0.1128	−0.036%	$3K	—	100x	as long as short
BloFin POL-USDTshort	+0.0340%	4h	0.1126	−0.166%	$904K	$170K	75x