Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0017%/8h= −1.8% APRpaid last 24h +0.118%

Price spread now: Bybit against Kraken Futures−0.041%7-day average −0.082% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

costs, in and out, $10k−$770.766% of the position

Long on Kraken Futures Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.291%+$29 on $10k

Price spread, last 3 days (all we have)+0.070%+$7 · spread now −0.041%, 7d avg −0.082%

Together, before fees+0.362%+$36 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.041% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.041% now, against its 7-day average of −0.082%): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 8.1 days. Mind the row above: over the last 7 days funding on this pair paid +0.291%, 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	0.1104	0.0117	pay 0.0015% / 1h	28m 59s	$1.2M	$1.2M	50x
Short	Bybit POLUSDT	0.1103	0.0100	get 0.0050% / 4h	2h 28m	$16.0M	$12.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.041%Rate

Funding earned: −$3.51
Price spread: −0.041% → −0.082%: $4.06
Slippage, 4 orders: −$55.57
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$76.02
Costs to cover: 0.766%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 4 min ago; Bybit: 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, 4 min ago	7.25 bp	18.2 bp −$18	50.3 bp −$503	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	1.36 bp	19.8 bp −$20	38.1 bp −$381	doesn't fit	doesn't fit

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	−0.241%	$203K	$204K	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1103	−0.037%	$3K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1105	+0.105%	$17K	$4K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1104	+0.015%	$24K	—	150x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+0.666%	$3K	$124K	12x	as long as short
Orderly PERP_POL_USDC	+0.0039%	4h	0.1103	−0.041%	$11K	$329K	20x	as long as short
Lighter POL	+0.0096%	1h	0.1103	−0.030%	$285K	$576K	8x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1104	+0.068%	$367K	$275K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1103	−0.023%	$17.1M	$44.1M	75x	as long as short
Bybit POLUSDTshort	+0.0100%	4h	0.1103	−0.041%	$16.0M	$12.5M	75x

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	0.1103	−0.041%	$5.7M	$10.5M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1103	−0.023%	$1.8M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1103	−0.023%	$23.8M	$3.6M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1104	+0.031%	$2.9M	$1.0M	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1104	−0.014%	$4.2M	$4.9M	50x	as long as short
BingX POL-USDT	+0.0100%	4h	0.1104	−0.014%	—	$7.2M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1103	−0.052%	$611K	$224K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1102	−0.127%	$1.1M	$2.8M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1103	−0.059%	$195K	$641K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1103	−0.041%	$95K	$446K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1101	−0.195%	$40K	—	3x	as long as short
Kraken Futures PF_POLUSDlong	+0.0117%	1h	0.1104	long leg	$1.2M	$1.2M	50x
Hyperliquid POL	+0.0191%	1h	0.1105	+0.149%	$7.4M	$3.8M	5x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1104	+0.011%	$3K	—	100x	as long as short