Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0326%/8h= −35.7% APRpaid last 24h −0.021%

Price spread now: Gate against Lighter−0.103%7-day average −0.090% · you buy dearer than you sell

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$520.520% of the position

Long on Lighter Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.125%−$12 on $10k

Price spread, last 4 days (all we have)+0.016%+$2 · spread now −0.103%, 7d avg −0.090%

Together, before fees−0.109%+ Points / potential airdropLighter: Season 3 · farm board−$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.090%, so right now this pair is about funding alone: −$10 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.125% in total (about -6.5% 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	Lighter POL	0.1088	0.0096	pay 0.0012% / 1h	40m 38s	$277K	$542K	8x
Short	Gate POL_USDT	0.1086	−0.0230	pay 0.0115% / 4h	2h 40m	$1.8M	$1.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.103%Rate

Funding earned: −$68.46
Price spread: −0.103% → −0.090%: −$1.26
Slippage, 4 orders: −$36.95
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$121.67
Costs to cover: 0.520%
Break-even: never at this rate

Slippage from Lighter: live order book, 65 min ago; Gate: live order book, 2 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, 65 min ago	5.44 bp	5.6 bp −$6	51.3 bp −$513	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	4.59 bp	20.2 bp −$20	143.4 bp −$1,434	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	−0.0480%	1h	0.1089	+0.136%	$201K	$199K	50x	as long as short
Gate POL_USDTshort	−0.0230%	4h	0.1086	−0.103%	$1.8M	$1.3M	75x
Kraken Futures PF_POLUSD	−0.0140%	1h	0.1090	+0.196%	$1.2M	$1.0M	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1090	+0.187%	$2K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1089	+0.096%	$18K	$4K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0003% / S −0.0001%	1h	0.1090	+0.229%	$12K	—	150x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+2.159%	$3K	$124K	12x	as long as short
Orderly PERP_POL_USDC	+0.0038%	4h	0.1090	+0.191%	$11K	$860K	20x	as long as short
Lighter POLlong	+0.0096%	1h	0.1088	long leg	$277K	$542K	8x
Hyperliquid POL	+0.0100%	1h	0.1089	+0.164%	$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	0.1088	+0.081%	$361K	$242K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1087	−0.052%	$16.6M	$38.5M	75x	as long as short
Bybit POLUSDT	+0.0100%	4h	0.1086	−0.103%	$15.6M	$10.7M	75x	as long as short
OKX POL-USDT-SWAP	+0.0100%	4h	0.1087	−0.066%	$5.6M	$9.5M	50x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1087	−0.002%	$24.5M	$3.2M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1087	−0.039%	$2.9M	$938K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1088	+0.017%	$4.0M	$4.2M	50x	as long as short
BingX POL-USDT	+0.0100%	4h	0.1087	−0.029%	—	$7.2M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1089	+0.106%	$603K	$166K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1090	+0.228%	$1.1M	$2.8M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1091	+0.320%	$194K	$633K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1087	−0.062%	$91K	$276K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1088	+0.045%	$40K	—	3x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1090	+0.219%	$3K	—	100x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1090	+0.237%	$898K	$160K	75x	as long as short