Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0366%/8h= +40.0% APRpaid last 24h +0.062%

Price spread now: MEXC against Kraken Futures−0.074%51s7-day average −0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as 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−$420.423% of the position

Long on Kraken Futures Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.143%+$14 on $10k

Price spread, last 4 days (all we have)+0.669%+$67 · spread now −0.074%, 7d avg −0.045%

Together, before fees+0.812%+$81 on $10k · with fees, hour by hour

Funding pays, the price is against you. MEXC is 0.029% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.074% now, against its 7-day average of −0.045%). If the spread goes back, that is −$3 on $10k: about 6 hours of funding at the current rate (+$11 a day). At the pace of the last 7 days (+0.143% in total) that is about 34 hours. The two prices were read 51 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 0.143% in total (about 7.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_POLUSD	0.1094	−0.0354	get 0.0044% / 1h	20m 25s	$1.2M	$984K	50x
Short	MEXC POL_USDT	0.1093	0.0012	get 0.0006% / 4h	2h 20m	$25.1M	$3.3M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.074%Rate

Funding earned: $76.76
Price spread: −0.074% → −0.045%: −$2.87
Slippage, 4 orders: −$32.33
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: $31.56
Costs to cover: 0.423%
Break-even: 4.1 days

Slippage from Kraken Futures: live order book, 1 min ago; MEXC: live order book, 1 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	5.94 bp	12.4 bp −$12	50.2 bp −$502	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	0.46 bp	3.5 bp −$3	9.0 bp −$90	72.0 bp −$7,202	187.5 bp −$93.8K

POL on 25 exchanges

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	−0.0584%	1h	0.1090	−0.339%	$198K	$168K	50x	as long as short
Kraken Futures PF_POLUSDlong	−0.0354%	1h	0.1094	long leg	$1.2M	$984K	50x
Orderly PERP_POL_USDC	−0.0162%	4h	0.1093	−0.101%	$10K	$2.6M	20x	as long as short
Gate POL_USDT	−0.0156%	4h	0.1093	−0.092%	$1.8M	$1.2M	75x	as long as short
GRVT POL_USDT_Perp	−0.0052%	4h	0.1093	−0.023%	$1.1M	$2.8M	10x	as long as short
OKX POL-USDT-SWAP	−0.0050%	4h	0.1093	−0.092%	$5.7M	$8.7M	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1092	−0.117%	$2K	—	—	as long as short
gTrade (Gains Network) POL/USD	L +0.0003% / S −0.0003%	1h	0.1094	+0.048%	$9K	—	150x	as long as short
MEXC POL_USDTshort	+0.0012%	4h	0.1093	−0.074%	$25.1M	$3.3M	125x
dYdX POL-USD	+0.0015%	1h	0.1094	−0.002%	$24K	$9K	5x	as long as short

Show all 25 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance POLUSDT	+0.0016%	4h	0.1093	−0.097%	$16.7M	$33.5M	75x	as long as short
Extended POL-USD	+0.0016%	1h	0.1092	−0.135%	$91K	$526K	10x	as long as short
ApeX Omni POLUSDT	+0.0027%	1h	0.1092	−0.156%	$154K	$665K	50x	as long as short
Bitget POLUSDT	+0.0030%	4h	0.1094	+0.009%	$4.0M	$3.6M	50x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+1.581%	$3K	$124K	12x	as long as short
BloFin POL-USDT	+0.0055%	4h	0.1094	0.000%	$898K	$136K	75x	as long as short
Aevo POL-PERP	+0.0088%	1h	0.1092	−0.156%	$40K	—	3x	as long as short
Lighter POL	+0.0096%	1h	0.1093	−0.084%	$267K	$502K	8x	as long as short
Hyperliquid POL	+0.0100%	1h	0.1094	+0.045%	$7.4M	$3.5M	5x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1093	−0.046%	$367K	$168K	20x	as long as short
Bybit POLUSDT	+0.0100%	4h	0.1093	−0.092%	$15.7M	$9.1M	75x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1094	−0.010%	$2.8M	$747K	50x	as long as short
BingX POL-USDT	+0.0100%	4h	0.1093	−0.046%	—	$7.1M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1093	−0.099%	$605K	$164K	—	as long as short
GMX POL/USD [ETH-USDC]	L +0.0164% / S −0.0294%	1h	0.1094	+0.003%	$3K	—	100x	as long as short