Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.003%

Price spread now: GRVT against Lighter−0.088%78s7-day average −0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$79as 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−$530.531% of the position

Long on Lighter Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.260%−$26 on $10k

Price spread, last 4 days (all we have)+0.632%+$63 · spread now −0.088%, 7d avg −0.021%

Together, before fees+0.372%+ Points / potential airdropLighter: Season 3 · GRVT: Active · farm board+$37 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: GRVT is 0.066% cheaper against Lighter than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.021%. The two prices were read 78 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter POL	0.1101	0.0096	pay 0.0012% / 1h	43m 51s	$284K	$564K	8x
Short	GRVT POL_USDT_Perp	0.1100	0.0100	get 0.0050% / 4h	1h 43m	$1.1M	$2.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.088%Rate

Funding earned: $0.84
Price spread: −0.088% → −0.021%: −$6.62
Slippage, 4 orders: −$44.08
Fee Lighter: 0 bp × 2 orders: $0
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$58.86
Costs to cover: 0.531%
Break-even: 497.5 days

Slippage from Lighter: live order book, 11 min ago; GRVT: 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, 11 min ago	7.85 bp	10.4 bp −$10	51.6 bp −$516	doesn't fit	doesn't fit
Sell GRVT live order book, 5 min ago	1.36 bp	12.1 bp −$12	25.6 bp −$256	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	−0.0464%	1h	0.1098	−0.302%	$202K	$201K	50x	as long as short
ApeX Omni POLUSDT	−0.0133%	1h	0.1101	−0.030%	$195K	$635K	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1101	−0.051%	$3K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1101	−0.017%	$17K	$1K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1101	+0.011%	$24K	—	150x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+0.878%	$3K	$124K	12x	as long as short
Orderly PERP_POL_USDC	+0.0044%	4h	0.1101	−0.048%	$11K	$299K	20x	as long as short
Lighter POLlong	+0.0096%	1h	0.1101	long leg	$284K	$564K	8x
Aster POLUSDT	+0.0100%	4h	0.1101	+0.015%	$366K	$269K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1102	+0.034%	$17.1M	$42.2M	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	0.1101	−0.039%	$15.9M	$11.9M	75x	as long as short
OKX POL-USDT-SWAP	+0.0100%	4h	0.1101	+0.015%	$5.7M	$10.1M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1101	−0.039%	$1.8M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1101	+0.006%	$23.8M	$3.5M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1102	+0.025%	$2.9M	$968K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1102	+0.079%	$4.2M	$4.7M	50x	as long as short
BingX POL-USDT	+0.0100%	4h	0.1101	+0.015%	—	$7.2M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1100	−0.079%	$609K	$209K	—	as long as short
GRVT POL_USDT_Perpshort	+0.0100%	4h	0.1100	−0.088%	$1.1M	$2.7M	10x
Extended POL-USD	+0.0104%	1h	0.1101	−0.035%	$92K	$448K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1099	−0.197%	$40K	—	3x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1101	−0.012%	$3K	—	100x	as long as short
Hyperliquid POL	+0.0224%	1h	0.1103	+0.175%	$7.4M	$3.7M	5x	as long as short
Kraken Futures PF_POLUSD	+0.0260%	1h	0.1102	+0.059%	$1.2M	$1.2M	50x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1101	−0.012%	$911K	$161K	75x	as long as short