POL

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0567%/8h= −62.1% APRnext payment −$0.71 per $10,000 · paid last 24h −0.064%

Price spread now: Kraken Futures against Lighter+0.045%7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$86as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$500.498% of the position

Long on Lighter Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.367%−$37 on $10k

Price spread, last 4 days (all we have)−1.499%−$150 · spread now +0.045%, 7d avg −0.003%

Together, before fees−1.865%+ Points / potential airdropLighter: Season 3 · farm board−$187 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.048% dearer against Lighter than usual: you sell high and buy low (spread +0.045% now, against its 7-day average of −0.003%): +$5 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 7 hours. At the pace of the last 7 days (−0.367% in total) that is about 22 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.367% in total (about -19.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.71 per $10,000. 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	0.1102	0.0096	pay 0.0012% / 1h	9m 59s	$270K	$549K	8x
Short	Kraken Futures PF_POLUSD	0.1103	−0.0471	pay 0.0059% / 1h	9m 59s	$1.2M	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.045%Rate

Funding earned: −$119.03
Price spread: +0.045% → −0.003%: $4.8
Slippage, 4 orders: −$39.8
Fee Lighter: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$164.04
Costs to cover: 0.498%
Break-even: never at this rate

Slippage from Lighter: live order book, 15 min ago; Kraken Futures: live order book, 3 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, 15 min ago	6.55 bp	7.4 bp −$7	51.3 bp −$513	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 3 min ago	6.35 bp	22.3 bp −$22	53.4 bp −$534	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	−0.0600%	1h	0.1100	−0.225%	$200K	$181K	50x	as long as short
Kraken Futures PF_POLUSDshort	−0.0471%	1h	0.1103	+0.045%	$1.2M	$1.0M	50x
Gate POL_USDT	−0.0214%	4h	0.1102	−0.044%	$1.8M	$1.2M	75x	as long as short
Orderly PERP_POL_USDC	−0.0116%	4h	0.1102	−0.025%	$11K	$2.4M	20x	as long as short
OKX POL-USDT-SWAP	−0.0069%	4h	0.1102	−0.016%	$5.7M	$9.2M	50x	as long as short
GRVT POL_USDT_Perp	−0.0030%	4h	0.1103	+0.074%	$1.1M	$2.9M	10x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1102	+0.001%	$3K	—	—	as long as short
ApeX Omni POLUSDT	−0.0004%	1h	0.1103	+0.047%	$156K	$661K	50x	as long as short
gTrade (Gains Network) POL/USD	L +0.0003% / S −0.0003%	1h	0.1104	+0.096%	$9K	—	150x	as long as short
MEXC POL_USDT	+0.0004%	4h	0.1102	−0.007%	$25.3M	$3.4M	125x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended POL-USD	+0.0008%	1h	0.1102	−0.055%	$94K	$526K	10x	as long as short
Binance POLUSDT	+0.0010%	4h	0.1102	−0.019%	$16.8M	$35.0M	75x	as long as short
BloFin POL-USDT	+0.0021%	4h	0.1102	−0.007%	$894K	$145K	75x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+0.773%	$3K	$124K	12x	as long as short
Bybit POLUSDT	+0.0070%	4h	0.1102	−0.044%	$15.8M	$9.2M	75x	as long as short
Aevo POL-PERP	+0.0080%	1h	0.1101	−0.128%	$40K	—	3x	as long as short
Lighter POLlong	+0.0096%	1h	0.1102	long leg	$270K	$549K	8x
Hyperliquid POL	+0.0100%	1h	0.1104	+0.138%	$7.4M	$3.7M	5x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1103	+0.074%	$365K	$172K	20x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1103	+0.011%	$2.9M	$794K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1102	−0.025%	$4.0M	$3.7M	50x	as long as short
BingX POL-USDT	+0.0100%	4h	0.1102	−0.044%	—	$7.1M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1102	−0.055%	$610K	$167K	—	as long as short
dYdX POL-USD	+0.0127%	1h	0.1103	+0.047%	$23K	$8K	5x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0164% / S −0.0294%	1h	0.1103	+0.051%	$3K	—	100x	as long as short