Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Bitget against Lighter−0.009%7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$450.451% of the position

Long on Lighter Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.106%−$11 on $10k

Price spread, last 4 days (all we have)−0.062%−$6 · spread now −0.009%, 7d avg −0.042%

Together, before fees−0.168%+ Points / potential airdropLighter: Season 3 · farm board−$17 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: Bitget is 0.032% dearer against Lighter than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.042%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter POL	0.1097	0.0096	pay 0.0012% / 1h	33m 03s	$279K	$540K	8x
Short	Bitget POLUSDT	0.1097	0.0100	get 0.0050% / 4h	3h 33m	$4.0M	$4.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.009%Rate

Funding earned: $0.84
Price spread: −0.009% → −0.042%: $3.25
Slippage, 4 orders: −$33.12
Fee Lighter: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$41.04
Costs to cover: 0.451%
Break-even: 349.0 days

Slippage from Lighter: live order book, 12 min ago; Bitget: 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 Lighter live order book, 12 min ago	5.44 bp	5.6 bp −$6	51.3 bp −$513	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	3.18 bp	14.8 bp −$15	19.2 bp −$192	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	0.1095	−0.155%	$202K	$198K	50x	as long as short
Kraken Futures PF_POLUSD	−0.0140%	1h	0.1096	−0.023%	$1.2M	$1.2M	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1096	−0.029%	$3K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1098	+0.110%	$17K	$2K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1097	+0.018%	$24K	—	150x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+1.304%	$3K	$124K	12x	as long as short
Orderly PERP_POL_USDC	+0.0043%	4h	0.1096	−0.036%	$11K	$405K	20x	as long as short
Gate POL_USDT	+0.0060%	4h	0.1096	−0.036%	$1.8M	$1.4M	75x	as long as short
Lighter POLlong	+0.0096%	1h	0.1097	long leg	$279K	$540K	8x
Hyperliquid POL	+0.0100%	1h	0.1098	+0.128%	$7.4M	$3.7M	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster POLUSDT	+0.0100%	4h	0.1097	+0.032%	$364K	$247K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1097	+0.009%	$17.0M	$41.0M	75x	as long as short
Bybit POLUSDT	+0.0100%	4h	0.1096	−0.027%	$15.8M	$11.7M	75x	as long as short
OKX POL-USDT-SWAP	+0.0100%	4h	0.1096	−0.036%	$5.7M	$10.0M	50x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1097	0.000%	$24.7M	$3.6M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1097	−0.009%	$2.9M	$970K	50x	as long as short
Bitget POLUSDTshort	+0.0100%	4h	0.1097	−0.009%	$4.0M	$4.3M	50x
BingX POL-USDC	+0.0100%	4h	0.1097	−0.009%	—	$1.6M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1097	+0.037%	$607K	$206K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1097	+0.055%	$1.1M	$2.8M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1098	+0.119%	$195K	$635K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1096	−0.047%	$91K	$450K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1095	−0.148%	$40K	—	3x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1097	+0.037%	$3K	—	100x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1096	−0.064%	$906K	$164K	75x	as long as short