Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0062%/8h= +6.7% APRpaid last 24h +0.041%

Price spread now: ApeX Omni against Orderly+0.202%70s7-day average +0.051% · you sell dearer than you buy

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

Long on Orderly Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.555%+$55 on $10k

Price spread, last 4 days (all we have)+0.118%+$12 · spread now +0.202%, 7d avg +0.051%

Together, before fees+0.673%+$67 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and ApeX Omni is 0.152% dearer against Orderly than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of +0.051%. The two prices were read 70 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	Orderly PERP_POL_USDC	0.1088	0.0038	pay 0.0019% / 4h	2h 37m	$11K	$880K	20x
Short	ApeX Omni POLUSDT	0.1090	0.0100	get 0.0013% / 1h	37m 45s	$193K	$633K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Orderly. 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 OrderlybpFee ApeX OmnibpOrdersPrice spread, now +0.202%Rate

Funding earned: $12.92
Price spread: +0.202% → +0.051%: $15.17
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $12.09
Costs to cover: 0.160%
Break-even: 0.4 days

Slippage unknown: Orderly: no order-book sample; ApeX Omni: live order book, 10 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 Orderly no order-book sample	—	—	—	—	—
Sell ApeX Omni live order book, 10 min ago	9.17 bp	18.3 bp −$18	128.7 bp −$1,287	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.1086	−0.165%	$200K	$199K	50x	as long as short
Gate POL_USDT	−0.0224%	4h	0.1087	−0.074%	$1.8M	$1.3M	75x	as long as short
Kraken Futures PF_POLUSD	−0.0140%	1h	0.1088	+0.050%	$1.2M	$1.0M	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1088	+0.011%	$2K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1088	+0.021%	$18K	$4K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0003% / S −0.0001%	1h	0.1088	+0.040%	$12K	—	150x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+2.133%	$3K	$124K	12x	as long as short
Orderly PERP_POL_USDClong	+0.0038%	4h	0.1088	long leg	$11K	$880K	20x
Lighter POL	+0.0096%	1h	0.1089	+0.066%	$277K	$542K	8x	as long as short
Hyperliquid POL	+0.0100%	1h	0.1090	+0.201%	$7.4M	$3.7M	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	0.1088	+0.030%	$361K	$242K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1089	+0.079%	$16.7M	$38.5M	75x	as long as short
Bybit POLUSDT	+0.0100%	4h	0.1088	+0.037%	$15.6M	$10.7M	75x	as long as short
OKX POL-USDT-SWAP	+0.0100%	4h	0.1089	+0.083%	$5.6M	$9.5M	50x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1089	+0.083%	$24.5M	$3.2M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1089	+0.083%	$2.9M	$940K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1089	+0.064%	$4.0M	$4.2M	50x	as long as short
BingX POL-USDT	+0.0100%	4h	0.1088	+0.028%	—	$7.1M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1089	+0.080%	$603K	$166K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1088	+0.009%	$1.1M	$2.8M	10x	as long as short
ApeX Omni POLUSDTshort	+0.0100%	1h	0.1090	+0.202%	$193K	$633K	50x
Extended POL-USD	+0.0104%	1h	0.1088	−0.006%	$91K	$276K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1086	−0.120%	$40K	—	3x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1088	+0.043%	$3K	—	100x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1087	−0.110%	$896K	$159K	75x	as long as short