Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.004%

Price spread now: Variational Omni against Lighter+0.306%7-day average −0.102% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.007%+$1 on $10k

Price spread, last 3 days (all we have)−0.324%−$32 · spread now +0.306%, 7d avg −0.102%

Together, before fees−0.316%+ Points / potential airdropLighter: Season 3 · Variational Omni: Active · farm board−$32 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: Variational Omni is 0.409% dearer against Lighter than usual: you sell high and buy low, +$41 on $10k if it goes back to its 7-day average of −0.102%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter POL	0.1115	0.0096	pay 0.0012% / 1h	56m 51s	$321K	$549K	8x
Short	Variational Omni POL	0.1118	0.0100	get 0.0050% / 4h	2h 56m	$659K	$260K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.306%Rate

Funding earned: $0.84
Price spread: +0.306% → −0.102%: $40.85
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $41.69
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Lighter: live order book, 27 min ago; Variational Omni: RFQ quote, 32 min ago. Net counts fees only.

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, 27 min ago	6.23 bp	6.3 bp −$6	49.5 bp −$495	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 32 min ago	8.94 bp	doesn't fit	35.7 bp −$357	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	−0.0080%	1h	0.1115	+0.013%	$203K	$255K	50x	as long as short
Kraken Futures PF_POLUSD	−0.0072%	1h	0.1115	+0.040%	$1.2M	$1.8M	50x	as long as short
Orderly PERP_POL_USDC	−0.0043%	4h	0.1115	−0.022%	$11K	$214K	20x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1114	−0.052%	$3K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1115	+0.058%	$17K	$3K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0006%	1h	0.1116	+0.063%	$22K	—	150x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1113	−0.166%	$3K	$73K	12x	as long as short
GRVT POL_USDT_Perp	+0.0092%	4h	0.1117	+0.166%	$1.1M	$3.5M	10x	as long as short
Lighter POLlong	+0.0096%	1h	0.1115	long leg	$321K	$549K	8x
Hyperliquid POL	+0.0100%	1h	0.1116	+0.139%	$7.6M	$4.7M	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	0.1115	−0.013%	$371K	$383K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1114	−0.071%	$17.0M	$52.8M	75x	as long as short
Bybit POLUSDT	+0.0100%	4h	0.1114	−0.085%	$16.0M	$16.7M	75x	as long as short
OKX POL-USDT-SWAP	+0.0100%	4h	0.1114	−0.085%	$5.8M	$12.4M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1116	+0.076%	$1.9M	$1.4M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1114	−0.049%	$23.4M	$4.0M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1116	+0.067%	$2.8M	$1.1M	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1114	−0.076%	$4.1M	$6.0M	50x	as long as short
BingX POL-USDT	+0.0100%	4h	0.1115	−0.022%	—	$7.3M	—	as long as short
Variational Omni POLshort	+0.0100%	4h	0.1118	+0.306%	$659K	$260K	—
ApeX Omni POLUSDT	+0.0100%	1h	0.1116	+0.103%	$197K	$659K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1114	−0.072%	$93K	$437K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1113	−0.147%	$41K	—	3x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0211% / S −0.0606%	1h	0.1115	+0.047%	$3K	—	100x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1114	−0.076%	$907K	$169K	75x	as long as short