Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0003%/8h= −0.4% APRpaid last 24h +0.009%

Price spread now: Lighter against OKX−0.070%7-day average +0.070% · you buy dearer than you sell

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$420.419% of the position

Long on OKX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.255%+$26 on $10k

Price spread, last 4 days (all we have)+0.134%+$13 · spread now −0.070%, 7d avg +0.070%

Together, before fees+0.390%+ Points / potential airdropLighter: Season 3 · farm board+$39 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 0.140% cheaper against OKX than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of +0.070%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX POL-USDT-SWAP	0.1086	0.0099	pay 0.0050% / 4h	2h 22m	$5.6M	$9.5M	50x
Short	Lighter POL	0.1085	0.0096	get 0.0012% / 1h	22m 46s	$276K	$542K	8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.070%Rate

Funding earned: −$0.71
Price spread: −0.070% → +0.070%: −$13.99
Slippage, 4 orders: −$31.93
Fee OKX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$56.62
Costs to cover: 0.419%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; Lighter: live order book, 18 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	0.92 bp	10.2 bp −$10	44.9 bp −$449	doesn't fit	doesn't fit
Sell Lighter live order book, 18 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	−0.460%	$199K	$200K	50x	as long as short
Gate POL_USDT	−0.0232%	4h	0.1084	−0.166%	$1.8M	$1.3M	75x	as long as short
Kraken Futures PF_POLUSD	−0.0140%	1h	0.1085	−0.115%	$1.1M	$1.0M	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1084	−0.182%	$2K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1085	−0.048%	$18K	$4K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0003% / S −0.0001%	1h	0.1085	−0.091%	$12K	—	150x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+2.302%	$3K	$124K	12x	as long as short
Orderly PERP_POL_USDC	+0.0037%	4h	0.1084	−0.147%	$11K	$963K	20x	as long as short
ApeX Omni POLUSDT	+0.0074%	1h	0.1084	−0.184%	$192K	$628K	50x	as long as short
Lighter POLshort	+0.0096%	1h	0.1085	−0.070%	$276K	$542K	8x

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX POL-USDT-SWAPlong	+0.0099%	4h	0.1086	long leg	$5.6M	$9.5M	50x
Hyperliquid POL	+0.0100%	1h	0.1087	+0.083%	$7.3M	$3.7M	5x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1086	−0.041%	$360K	$240K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1086	−0.010%	$16.6M	$38.2M	75x	as long as short
Bybit POLUSDT	+0.0100%	4h	0.1085	−0.046%	$15.6M	$10.5M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1085	−0.074%	$24.4M	$3.2M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1085	−0.074%	$2.8M	$940K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1085	−0.046%	$4.0M	$4.2M	50x	as long as short
BingX POL-USDC	+0.0100%	4h	0.1085	−0.101%	—	$1.6M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1083	−0.256%	$600K	$166K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1085	−0.083%	$1.1M	$2.7M	10x	as long as short
Extended POL-USD	+0.0104%	1h	0.1085	−0.100%	$91K	$270K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1083	−0.276%	$40K	—	3x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1085	−0.082%	$3K	—	100x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1085	−0.046%	$893K	$159K	75x	as long as short