Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0422%/8h= +46.2% APRpaid last 24h +0.046%

Price spread now: OKX against Kraken Futures−0.100%45s7-day average −0.064% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as 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−$620.621% of the position

Long on Kraken Futures Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.107%+$11 on $10k

Price spread, last 4 days (all we have)+1.228%+$123 · spread now −0.100%, 7d avg −0.064%

Together, before fees+1.335%+$134 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.035% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.100% now, against its 7-day average of −0.064%). If the spread goes back, that is −$4 on $10k: about 7 hours of funding at the current rate (+$13 a day). At the pace of the last 7 days (+0.107% in total) that is about 2.3 days. The two prices were read 45 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 0.107% in total (about 5.6% 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	0.1103	−0.0471	get 0.0059% / 1h	3m 34s	$1.2M	$1.0M	50x
Short	OKX POL-USDT-SWAP	0.1102	−0.0049	pay 0.0025% / 4h	3h 03m	$5.7M	$9.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.100%Rate

Funding earned: $88.53
Price spread: −0.100% → −0.064%: −$3.52
Slippage, 4 orders: −$42.12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: $22.89
Costs to cover: 0.621%
Break-even: 5.2 days

Slippage from Kraken Futures: live order book, 5 min ago; OKX: 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	5.45 bp	16.1 bp −$16	60.2 bp −$602	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	0.45 bp	13.1 bp −$13	51.7 bp −$517	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	−0.0600%	1h	0.1100	−0.281%	$200K	$181K	50x	as long as short
Kraken Futures PF_POLUSDlong	−0.0471%	1h	0.1103	long leg	$1.2M	$1.0M	50x
Gate POL_USDT	−0.0176%	4h	0.1101	−0.172%	$1.8M	$1.2M	75x	as long as short
Orderly PERP_POL_USDC	−0.0116%	4h	0.1102	−0.136%	$11K	$2.5M	20x	as long as short
OKX POL-USDT-SWAPshort	−0.0049%	4h	0.1102	−0.100%	$5.7M	$9.1M	50x
Reya POLRUSDPERP	−0.0006%	1h	0.1101	−0.186%	$3K	—	—	as long as short
GRVT POL_USDT_Perp	0.0000%	4h	0.1101	−0.154%	$1.1M	$2.8M	10x	as long as short
gTrade (Gains Network) POL/USD	L +0.0003% / S −0.0003%	1h	0.1102	−0.062%	$9K	—	150x	as long as short
Extended POL-USD	+0.0016%	1h	0.1101	−0.180%	$94K	$526K	10x	as long as short
MEXC POL_USDT	+0.0016%	4h	0.1101	−0.154%	$25.3M	$3.4M	125x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance POLUSDT	+0.0018%	4h	0.1101	−0.163%	$16.8M	$34.9M	75x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+0.716%	$3K	$124K	12x	as long as short
BloFin POL-USDT	+0.0058%	4h	0.1101	−0.181%	$900K	$143K	75x	as long as short
ApeX Omni POLUSDT	+0.0071%	1h	0.1102	−0.100%	$156K	$662K	50x	as long as short
Aevo POL-PERP	+0.0080%	1h	0.1100	−0.264%	$40K	—	3x	as long as short
Lighter POL	+0.0096%	1h	0.1102	−0.112%	$270K	$549K	8x	as long as short
Hyperliquid POL	+0.0100%	1h	0.1103	+0.009%	$7.4M	$3.6M	5x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1103	−0.052%	$370K	$172K	20x	as long as short
Bybit POLUSDT	+0.0100%	4h	0.1101	−0.199%	$15.8M	$9.2M	75x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1102	−0.063%	$2.9M	$783K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1101	−0.190%	$4.0M	$3.6M	50x	as long as short
BingX POL-USDC	+0.0100%	4h	0.1101	−0.154%	—	$1.6M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1101	−0.198%	$609K	$167K	—	as long as short
dYdX POL-USD	+0.0111%	1h	0.1102	−0.098%	$23K	$8K	5x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0164% / S −0.0294%	1h	0.1102	−0.070%	$3K	—	100x	as long as short