Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0118%/8h= +12.9% APRpaid last 24h +0.028%

Price spread now: Hyperliquid against KuCoin+0.164%7-day average +0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$750.748% of the position

Long on KuCoin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.067%+$7 on $10k

Price spread, last 7 days−0.123%−$12 · spread now +0.164%, 7d avg +0.045%

Together, before fees−0.056%+ Points / potential airdropHyperliquid: Season 2 · farm board−$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Hyperliquid is 0.119% dearer against KuCoin than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin POLUSDTM	0.1126	0.0100	pay 0.0050% / 4h	1h 17m	$2.8M	$1.1M	50x
Short	Hyperliquid POL	0.1128	0.0218	get 0.0027% / 1h	17m 09s	$7.6M	$4.6M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against KuCoin. 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 KuCoinbpFee HyperliquidbpOrdersPrice spread, now +0.164%Rate

Funding earned: $24.75
Price spread: +0.164% → +0.045%: $11.92
Slippage, 4 orders: −$53.83
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$38.16
Costs to cover: 0.748%
Break-even: 17.8 days

Slippage from KuCoin: live order book, 5 min ago; Hyperliquid: 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 KuCoin live order book, 5 min ago	4.88 bp	24.0 bp −$24	146.3 bp −$1,463	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 5 min ago	0.88 bp	16.2 bp −$16	doesn't fit	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
Injective POL/USDC PERP	−0.0162%	1h	0.1111	−1.350%	$3K	$124K	12x	as long as short
Coinbase International POL-PERP-INTX	−0.0128%	1h	0.1126	−0.018%	$206K	$237K	50x	as long as short
Kraken Futures PF_POLUSD	−0.0071%	1h	0.1127	+0.039%	$1.2M	$1.8M	50x	as long as short
Orderly PERP_POL_USDC	−0.0016%	4h	0.1125	−0.089%	$11K	$199K	20x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1125	−0.095%	$3K	—	—	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1126	−0.036%	$24K	—	150x	as long as short
dYdX POL-USD	+0.0004%	1h	0.1127	+0.058%	$17K	$3K	5x	as long as short
Lighter POL	+0.0096%	1h	0.1126	−0.031%	$300K	$577K	8x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1126	0.000%	$377K	$360K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1125	−0.062%	$17.4M	$51.5M	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	0.1125	−0.133%	$16.2M	$15.7M	75x	as long as short
OKX POL-USDT-SWAP	+0.0100%	4h	0.1125	−0.071%	$5.8M	$12.1M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1126	0.000%	$1.9M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1125	−0.062%	$23.8M	$3.9M	125x	as long as short
KuCoin POLUSDTMlong	+0.0100%	4h	0.1126	long leg	$2.8M	$1.1M	50x
Bitget POLUSDT	+0.0100%	4h	0.1126	−0.027%	$4.2M	$5.9M	50x	as long as short
BingX POL-USDT	+0.0100%	4h	0.1125	−0.071%	—	$7.2M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1126	−0.061%	$665K	$193K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1126	−0.034%	$1.1M	$3.3M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1127	+0.071%	$199K	$657K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1125	−0.082%	$94K	$427K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1124	−0.195%	$41K	—	3x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0211% / S −0.0606%	1h	0.1126	−0.026%	$3K	—	100x	as long as short
Hyperliquid POLshort	+0.0218%	1h	0.1128	+0.164%	$7.6M	$4.6M	5x
BloFin POL-USDT	+0.0340%	4h	0.1126	+0.009%	$915K	$170K	75x	as long as short