Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.005%

Price spread now: Lighter against MEXC−0.027%7-day average +0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs$0as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$230.232% of the position

Long on MEXC Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.235%+$23 on $10k

Price spread, last 4 days (all we have)+0.092%+$9 · spread now −0.027%, 7d avg +0.051%

Together, before fees+0.327%+ Points / potential airdropLighter: Season 3 · farm board+$33 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: Lighter is 0.079% cheaper against MEXC than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.051%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC POL_USDT	0.1092	0.0100	pay 0.0050% / 4h	2h 20m	$24.6M	$3.2M	125x
Short	Lighter POL	0.1091	0.0096	get 0.0012% / 1h	20m 10s	$277K	$543K	8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against MEXC. 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 MEXCbpFee LighterbpOrdersPrice spread, now −0.027%Rate

Funding earned: −$0.84
Price spread: −0.027% → +0.051%: −$7.9
Slippage, 4 orders: −$23.17
Fee MEXC: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: −$31.91
Costs to cover: 0.232%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; Lighter: live order book, 20 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 MEXC live order book, 4 min ago	0.46 bp	3.1 bp −$3	11.9 bp −$119	77.1 bp −$7,707	188.7 bp −$94.3K
Sell Lighter live order book, 20 min ago	2.67 bp	12.7 bp −$13	66.6 bp −$666	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	0.1081	−0.989%	$199K	$200K	50x	as long as short
Gate POL_USDT	−0.0194%	4h	0.1089	−0.229%	$1.8M	$1.3M	75x	as long as short
Kraken Futures PF_POLUSD	−0.0139%	1h	0.1092	+0.019%	$1.1M	$1.0M	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1090	−0.165%	$2K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1089	−0.275%	$18K	$4K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0003% / S −0.0001%	1h	0.1092	−0.027%	$12K	—	150x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+1.759%	$3K	$124K	12x	as long as short
Orderly PERP_POL_USDC	+0.0036%	4h	0.1091	−0.037%	$11K	$980K	20x	as long as short
ApeX Omni POLUSDT	+0.0096%	1h	0.1084	−0.714%	$192K	$629K	50x	as long as short
Lighter POLshort	+0.0096%	1h	0.1091	−0.027%	$277K	$543K	8x

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid POL	+0.0100%	1h	0.1092	0.000%	$7.4M	$3.7M	5x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1091	−0.028%	$362K	$240K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1092	+0.008%	$16.7M	$38.2M	75x	as long as short
Bybit POLUSDT	+0.0100%	4h	0.1092	+0.009%	$15.7M	$10.5M	75x	as long as short
OKX POL-USDT-SWAP	+0.0100%	4h	0.1092	+0.009%	$5.6M	$9.5M	50x	as long as short
MEXC POL_USDTlong	+0.0100%	4h	0.1092	long leg	$24.6M	$3.2M	125x
KuCoin POLUSDTM	+0.0100%	4h	0.1092	+0.009%	$2.9M	$940K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1092	+0.018%	$4.0M	$4.2M	50x	as long as short
BingX POL-USDT	+0.0100%	4h	0.1091	−0.101%	—	$7.2M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1087	−0.430%	$601K	$167K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1085	−0.617%	$1.1M	$2.7M	10x	as long as short
Extended POL-USD	+0.0104%	1h	0.1091	−0.058%	$91K	$270K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1090	−0.119%	$40K	—	3x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1091	−0.028%	$3K	—	100x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1089	−0.293%	$891K	$160K	75x	as long as short