Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: BingX against Lighter+0.043%7-day average −0.064% · you sell dearer than you buy

Net, funding: paid 7d − costs−$151as in the Funding arb table

Net, price: spread back to 7d avg − costs−$138as in the Price arb table

costs, in and out, $10k−$1491.490% of the position

Long on Lighter Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.016%−$2 on $10k

Price spread, last 4 days (all we have)−0.113%−$11 · spread now +0.043%, 7d avg −0.064%

Together, before fees−0.129%+ Points / potential airdropLighter: Season 3 · farm board−$13 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.108% dearer against Lighter than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of −0.064%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter POL	0.1106	0.0096	pay 0.0012% / 1h	53m 33s	$286K	$575K	8x
Short	BingX POL-USDC	0.1107	0.0100	get 0.0050% / 4h	2h 53m	—	$1.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Lighter. 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 LighterbpFee BingXbpOrdersPrice spread, now +0.043%Rate

Funding earned: $0.84
Price spread: +0.043% → −0.064%: $10.77
Slippage, 4 orders: −$139.05
Fee Lighter: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$137.43
Costs to cover: 1.490%
Break-even: 1152.3 days

Slippage from Lighter: live order book, 7 min ago; BingX: live order book, 8 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 Lighter live order book, 7 min ago	5.77 bp	8.8 bp −$9	48.0 bp −$480	doesn't fit	doesn't fit
Sell BingX live order book, 8 min ago	4.50 bp	58.4 bp −$58	487.9 bp −$4,879	1145.5 bp −$114.5K	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
ApeX Omni POLUSDT	−0.0849%	1h	0.1109	+0.242%	$196K	$644K	50x	as long as short
Coinbase International POL-PERP-INTX	−0.0312%	1h	0.1105	−0.119%	$203K	$203K	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1104	−0.236%	$3K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1107	+0.100%	$17K	$4K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1105	−0.141%	$24K	—	150x	as long as short
Orderly PERP_POL_USDC	+0.0031%	4h	0.1104	−0.174%	$11K	$182K	20x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+0.423%	$3K	$124K	12x	as long as short
Lighter POLlong	+0.0096%	1h	0.1106	long leg	$286K	$575K	8x
Hyperliquid POL	+0.0100%	1h	0.1108	+0.143%	$7.5M	$3.9M	5x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1107	+0.045%	$368K	$274K	20x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance POLUSDT	+0.0100%	4h	0.1107	+0.063%	$17.0M	$44.0M	75x	as long as short
Bybit POLUSDT	+0.0100%	4h	0.1107	+0.043%	$15.9M	$12.7M	75x	as long as short
OKX POL-USDT-SWAP	+0.0100%	4h	0.1107	+0.080%	$5.7M	$10.4M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1106	−0.056%	$1.8M	$1.2M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1107	+0.034%	$23.9M	$3.6M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1107	+0.043%	$2.9M	$986K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1106	+0.016%	$4.1M	$4.8M	50x	as long as short
BingX POL-USDCshort	+0.0100%	4h	0.1107	+0.043%	—	$1.6M	—
Variational Omni POL	+0.0100%	4h	0.1104	−0.207%	$611K	$224K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1106	−0.020%	$1.1M	$2.8M	10x	as long as short
Extended POL-USD	+0.0104%	1h	0.1106	+0.002%	$92K	$447K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1105	−0.165%	$40K	—	3x	as long as short
Kraken Futures PF_POLUSD	+0.0116%	1h	0.1106	−0.040%	$1.2M	$1.3M	50x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1105	−0.164%	$3K	—	100x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1106	−0.065%	$905K	$155K	75x	as long as short