Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0228%/8h= −25.0% APRpaid last 24h −0.169%

Price spread now: Coinbase International against OKX−0.286%55s7-day average −0.367% · you buy dearer than you sell

Net, funding: paid 7d − costs−$121as 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−$890.893% of the position

Long on OKX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.312%−$31 on $10k

Price spread, last 3 days (all we have)−0.797%−$80 · spread now −0.286%, 7d avg −0.367%

Together, before fees−1.109%−$111 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.082% dearer against OKX than usual: you sell high and buy low (spread −0.286% now, against its 7-day average of −0.367%): +$8 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 29 hours. The two prices were read 55 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	OKX POL-USDT-SWAP	0.1120	0.0100	pay 0.0050% / 4h	27m 23s	$5.8M	$11.8M	50x
Short	Coinbase International POL-PERP-INTX	0.1117	−0.0128	pay 0.0016% / 1h	27m 23s	$204K	$224K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against OKX. 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 OKXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.286%Rate

Funding earned: −$47.88
Price spread: −0.286% → −0.367%: $8.16
Slippage, 4 orders: −$69.32
Fee OKX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$129.04
Costs to cover: 0.893%
Break-even: never at this rate

Slippage from OKX: live order book, 6 min ago; Coinbase International: live order book, 50 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 OKX live order book, 6 min ago	1.79 bp	15.5 bp −$15	60.2 bp −$602	doesn't fit	doesn't fit
Sell Coinbase International live order book, 50 min ago	8.88 bp	37.3 bp −$37	doesn't fit	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-INTXshort	−0.0128%	1h	0.1117	−0.286%	$204K	$224K	50x
Kraken Futures PF_POLUSD	−0.0072%	1h	0.1121	+0.058%	$1.2M	$1.8M	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1120	−0.008%	$3K	—	—	as long as short
dYdX POL-USD	+0.0002%	1h	0.1121	+0.071%	$17K	$3K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1121	+0.080%	$24K	—	150x	as long as short
Orderly PERP_POL_USDC	+0.0009%	4h	0.1120	+0.018%	$11K	$189K	20x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	−0.821%	$3K	$124K	12x	as long as short
Lighter POL	+0.0096%	1h	0.1121	+0.044%	$299K	$572K	8x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1121	+0.055%	$372K	$353K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1120	+0.018%	$17.2M	$50.1M	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	0.1120	−0.036%	$16.2M	$15.3M	75x	as long as short
OKX POL-USDT-SWAPlong	+0.0100%	4h	0.1120	long leg	$5.8M	$11.8M	50x
Gate POL_USDT	+0.0100%	4h	0.1120	0.000%	$1.9M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1120	+0.009%	$24.3M	$3.9M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1121	+0.071%	$2.9M	$1.1M	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1120	+0.027%	$4.2M	$5.4M	50x	as long as short
BingX POL-USDT	+0.0100%	4h	0.1120	+0.018%	—	$7.2M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1118	−0.212%	$660K	$183K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1119	−0.121%	$1.1M	$3.2M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1120	−0.018%	$198K	$654K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1120	−0.001%	$93K	$427K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1119	−0.115%	$41K	—	3x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0217% / S −0.0750%	1h	0.1121	+0.067%	$3K	—	100x	as long as short
Hyperliquid POL	+0.0289%	1h	0.1122	+0.196%	$7.6M	$4.0M	5x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1121	+0.045%	$913K	$169K	75x	as long as short