Funding you earn now, next payment 04:00 UTC+0.0058%/8h= +6.3% APRnext payment +$0.29 per $10,000 · paid last 24h +0.070%
Price spread now: Bybit against Orderly−0.036%7-day average +0.005% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.546%+$55 on $10k
+Price spread, last 4 days (all we have)+1.268%+$127 · spread now −0.036%, 7d avg +0.005%
=Funding pays, the price is against you. Bybit is 0.041% cheaper against Orderly than usual: you would sell low and buy high (spread −0.036% now, against its 7-day average of +0.005%). If the spread goes back, that is −$4 on $10k: about 2.3 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.546% in total) that is about 13 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_POL_USDC | 0.1105 | 0.0042 | pay 0.0021% / 4h | 1h 18m | $11K | $297K | 20x |
| Short | Bybit POLUSDT | 0.1105 | 0.0100 | get 0.0050% / 4h | 1h 18m | $15.9M | $11.7M | 75x |
Orderly PERP_POL_USDC
Bybit POLUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Orderly. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $12.13
- Price spread: −0.036% → +0.005%
- −$4.07
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$8.94
- Costs to cover
- 0.170%
- Break-even
- 12.2 days
Slippage unknown: Orderly: no order-book sample; Bybit: live order book, 5 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 Bybit live order book, 5 min ago | 1.36 bp | 18.8 bp −$19 | 44.9 bp −$449 | 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 | −0.0464% | 1h | 0.1098 | −0.651% | $202K | $198K | 50x | as long as short |
| Reya POLRUSDPERP | −0.0006% | 1h | 0.1105 | +0.014% | $3K | — | — | as long as short |
| dYdX POL-USD | 0.0000% | 1h | 0.1106 | +0.100% | $17K | $1K | 5x | as long as short |
| gTrade (Gains Network) POL/USD | L +0.0004% / S −0.0007% | 1h | 0.1106 | +0.063% | $24K | — | 150x | as long as short |
| Injective POL/USDC PERP | +0.0033% | 1h | 0.1111 | +0.525% | $3K | $124K | 12x | as long as short |
| Orderly PERP_POL_USDClong | +0.0042% | 4h | 0.1105 | long leg | $11K | $297K | 20x | |
| Lighter POL | +0.0096% | 1h | 0.1106 | +0.059% | $285K | $565K | 8x | as long as short |
| Aster POLUSDT | +0.0100% | 4h | 0.1106 | +0.081% | $368K | $269K | 20x | as long as short |
| Binance POLUSDT | +0.0100% | 4h | 0.1105 | +0.014% | $17.2M | $42.1M | 75x | as long as short |
| Bybit POLUSDTshort | +0.0100% | 4h | 0.1105 | −0.036% | $15.9M | $11.7M | 75x |
Coinbase International POL-PERP-INTX
Reya POLRUSDPERP
dYdX POL-USD
gTrade (Gains Network) POL/USD
Injective POL/USDC PERP
Lighter POL
Aster POLUSDT
Binance POLUSDTShow all 25 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX POL-USDT-SWAP | +0.0100% | 4h | 0.1105 | +0.009% | $5.7M | $10.1M | 50x | as long as short |
| Gate POL_USDT | +0.0100% | 4h | 0.1105 | 0.000% | $1.8M | $1.3M | 75x | as long as short |
| MEXC POL_USDT | +0.0100% | 4h | 0.1106 | +0.045% | $23.9M | $3.5M | 125x | as long as short |
| KuCoin POLUSDTM | +0.0100% | 4h | 0.1106 | +0.081% | $2.9M | $973K | 50x | as long as short |
| Bitget POLUSDT | +0.0100% | 4h | 0.1106 | +0.100% | $4.2M | $4.6M | 50x | as long as short |
| BingX POL-USDT | +0.0100% | 4h | 0.1105 | +0.027% | — | $7.2M | — | as long as short |
| Variational Omni POL | +0.0100% | 4h | 0.1106 | +0.049% | $612K | $209K | — | as long as short |
| GRVT POL_USDT_Perp | +0.0100% | 4h | 0.1106 | +0.066% | $1.1M | $2.7M | 10x | as long as short |
| ApeX Omni POLUSDT | +0.0100% | 1h | 0.1106 | +0.072% | $196K | $636K | 50x | as long as short |
| Extended POL-USD | +0.0104% | 1h | 0.1105 | −0.003% | $92K | $448K | 10x | as long as short |
| Aevo POL-PERP | +0.0104% | 1h | 0.1103 | −0.171% | $40K | — | 3x | as long as short |
| GMX POL/USD [ETH-USDC] | L +0.0210% / S −0.0388% | 1h | 0.1106 | +0.041% | $3K | — | 100x | as long as short |
| Hyperliquid POL | +0.0226% | 1h | 0.1108 | +0.217% | $7.5M | $3.7M | 5x | as long as short |
| Kraken Futures PF_POLUSD | +0.0259% | 1h | 0.1106 | +0.098% | $1.2M | $1.2M | 50x | as long as short |
| BloFin POL-USDT | +0.0340% | 4h | 0.1106 | +0.063% | $913K | $166K | 75x | as long as short |
OKX POL-USDT-SWAP
Gate POL_USDT
MEXC POL_USDT
KuCoin POLUSDTM
Bitget POLUSDT
BingX POL-USDT
Variational Omni POL
GRVT POL_USDT_Perp
ApeX Omni POLUSDT
Extended POL-USD
Aevo POL-PERP
GMX POL/USD [ETH-USDC]
Hyperliquid POL
Kraken Futures PF_POLUSD
BloFin POL-USDT