Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0240%/8h= +26.2% APRpaid last 24h +0.079%

Price spread now: GRVT against Kraken Futures+0.053%7-day average −0.067% · you sell dearer than you buy

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$810.815% of the position

Long on Kraken Futures Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.105%+$10 on $10k

Price spread, last 4 days (all we have)+0.681%+$68 · spread now +0.053%, 7d avg −0.067%

Together, before fees+0.785%+ Points / potential airdropGRVT: Active · farm board+$79 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 GRVT is 0.120% dearer against Kraken Futures than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of −0.067%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.105% in total (about 5.5% 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	0.1101	−0.0140	get 0.0017% / 1h	58m 33s	$1.2M	$1.2M	50x
Short	GRVT POL_USDT_Perp	0.1102	0.0100	get 0.0050% / 4h	3h 58m	$1.1M	$2.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.053%Rate

Funding earned: $50.31
Price spread: +0.053% → −0.067%: $12.01
Slippage, 4 orders: −$62.48
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$19.16
Costs to cover: 0.815%
Break-even: 9.7 days

Slippage from Kraken Futures: live order book, 5 min ago; GRVT: 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, 5 min ago	5.89 bp	16.7 bp −$17	65.9 bp −$659	doesn't fit	doesn't fit
Sell GRVT live order book, 5 min ago	1.82 bp	16.9 bp −$17	50.2 bp −$502	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	−0.0512%	1h	0.1101	−0.029%	$202K	$198K	50x	as long as short
Gate POL_USDT	−0.0476%	4h	0.1100	−0.138%	$1.8M	$1.3M	75x	as long as short
Kraken Futures PF_POLUSDlong	−0.0140%	1h	0.1101	long leg	$1.2M	$1.2M	50x
Bybit POLUSDT	−0.0061%	4h	0.1100	−0.129%	$15.8M	$11.7M	75x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1101	−0.054%	$3K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1102	+0.034%	$17K	$2K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1102	+0.034%	$24K	—	150x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+0.879%	$3K	$124K	12x	as long as short
Orderly PERP_POL_USDC	+0.0042%	4h	0.1101	−0.056%	$11K	$245K	20x	as long as short
Lighter POL	+0.0096%	1h	0.1100	−0.084%	$280K	$540K	8x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid POL	+0.0100%	1h	0.1102	+0.062%	$7.5M	$3.7M	5x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1101	−0.074%	$365K	$271K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1100	−0.102%	$17.0M	$41.4M	75x	as long as short
OKX POL-USDT-SWAP	+0.0100%	4h	0.1100	−0.084%	$5.7M	$10.1M	50x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1100	−0.093%	$24.7M	$3.5M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1101	+0.007%	$2.9M	$975K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1100	−0.129%	$4.1M	$4.6M	50x	as long as short
BingX POL-USDC	+0.0100%	4h	0.1101	−0.056%	—	$1.6M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1102	+0.040%	$610K	$206K	—	as long as short
GRVT POL_USDT_Perpshort	+0.0100%	4h	0.1102	+0.053%	$1.1M	$2.8M	10x
ApeX Omni POLUSDT	+0.0100%	1h	0.1102	+0.062%	$195K	$638K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1100	−0.128%	$92K	$454K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1099	−0.194%	$40K	—	3x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1101	+0.003%	$3K	—	100x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1101	−0.029%	$911K	$169K	75x	as long as short