Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0171%/8h= −18.8% APRpaid last 24h −0.106%

Price spread now: Kraken Futures against OKX+0.125%45s7-day average +0.072% · you sell dearer than you buy

Net, funding: paid 7d − costs−$81as 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−$690.688% of the position

Long on OKX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.121%−$12 on $10k

Price spread, last 3 days (all we have)−0.541%−$54 · spread now +0.125%, 7d avg +0.072%

Together, before fees−0.662%−$66 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.052% dearer against OKX than usual: you sell high and buy low (spread +0.125% now, against its 7-day average of +0.072%): +$5 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 24 hours. At the pace of the last 7 days (−0.121% in total) that is about 3.0 days. The two prices were read 45 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	2h 23m	$5.8M	$12.2M	50x
Short	Kraken Futures PF_POLUSD	0.1122	−0.0071	pay 0.0009% / 1h	23m 30s	$1.2M	$1.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.125%Rate

Funding earned: −$35.98
Price spread: +0.125% → +0.072%: $5.22
Slippage, 4 orders: −$48.76
Fee OKX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$99.52
Costs to cover: 0.688%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; Kraken Futures: 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 OKX live order book, 5 min ago	1.79 bp	15.3 bp −$15	78.0 bp −$780	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 5 min ago	10.73 bp	17.0 bp −$17	47.8 bp −$478	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	0.1111	−0.848%	$202K	$254K	50x	as long as short
Kraken Futures PF_POLUSDshort	−0.0071%	1h	0.1122	+0.125%	$1.2M	$1.8M	50x
Orderly PERP_POL_USDC	−0.0031%	4h	0.1121	+0.027%	$11K	$207K	20x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1120	−0.009%	$3K	—	—	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0006%	1h	0.1121	+0.068%	$22K	—	150x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	−0.848%	$3K	$124K	12x	as long as short
dYdX POL-USD	+0.0038%	1h	0.1121	+0.041%	$17K	$3K	5x	as long as short
Lighter POL	+0.0096%	1h	0.1121	+0.041%	$311K	$562K	8x	as long as short
Hyperliquid POL	+0.0100%	1h	0.1123	+0.220%	$7.6M	$4.6M	5x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1121	+0.061%	$373K	$383K	20x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance POLUSDT	+0.0100%	4h	0.1120	−0.014%	$17.1M	$51.8M	75x	as long as short
Bybit POLUSDT	+0.0100%	4h	0.1120	−0.027%	$16.1M	$16.5M	75x	as long as short
OKX POL-USDT-SWAPlong	+0.0100%	4h	0.1120	long leg	$5.8M	$12.2M	50x
Gate POL_USDT	+0.0100%	4h	0.1121	+0.009%	$1.9M	$1.4M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1121	+0.009%	$23.5M	$4.0M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1121	+0.045%	$2.8M	$1.1M	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1121	+0.062%	$4.2M	$6.0M	50x	as long as short
BingX POL-USDC	+0.0100%	4h	0.1121	+0.045%	—	$1.6M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1119	−0.133%	$661K	$211K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1119	−0.090%	$1.1M	$3.4M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1118	−0.223%	$198K	$662K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1121	+0.012%	$93K	$427K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1119	−0.089%	$41K	—	3x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0211% / S −0.0606%	1h	0.1121	+0.042%	$3K	—	100x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1121	+0.009%	$905K	$169K	75x	as long as short