Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0737%/8h= +80.7% APRpaid last 24h +0.242%

Price spread now: GMX against Orderly+0.069%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$22 a day on $10k at the current rate, and GMX is 0.069% dearer against Orderly than usual: you sell high and buy low: +$7 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_POL_USDC	0.1120	0.0013	pay 0.0006% / 4h	6m 24s	$11K	$185K	20x
Short	GMX POL/USD [ETH-USDC]	0.1120	L +0.0217% / S −0.0750%	get 0.0094% / 1h	6m 24s	$3K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.069%Rate

Funding earned: $154.77
Price spread: +0.069% → 0.000%: $6.88
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee GMX: 6 bp × 2 orders: −$12
Net: $143.65
Costs to cover: 0.180%
Break-even: 0.5 days

Slippage unknown: Orderly: no order-book sample; GMX: no order-book sample. 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 GMX no order-book sample	—	—	—	—	—

Orderly and GMX: 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	−0.0128%	1h	0.1118	−0.143%	$205K	$226K	50x	as long as short
Kraken Futures PF_POLUSD	−0.0072%	1h	0.1121	+0.111%	$1.2M	$1.8M	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1119	−0.014%	$3K	—	—	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1120	+0.067%	$24K	—	150x	as long as short
Orderly PERP_POL_USDClong	+0.0013%	4h	0.1120	long leg	$11K	$185K	20x
dYdX POL-USD	+0.0013%	1h	0.1120	+0.049%	$17K	$3K	5x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	−0.768%	$3K	$124K	12x	as long as short
Lighter POL	+0.0096%	1h	0.1120	+0.079%	$300K	$579K	8x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1120	+0.036%	$372K	$340K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1120	+0.010%	$17.2M	$49.7M	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	0.1119	−0.054%	$16.1M	$15.1M	75x	as long as short
OKX POL-USDT-SWAP	+0.0100%	4h	0.1120	0.000%	$5.8M	$11.6M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1120	+0.045%	$1.9M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1120	+0.063%	$24.3M	$3.9M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1121	+0.089%	$2.8M	$1.1M	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1120	+0.018%	$4.1M	$5.3M	50x	as long as short
BingX POL-USDC	+0.0100%	4h	0.1120	+0.027%	—	$1.7M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1119	−0.076%	$661K	$183K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1121	+0.095%	$1.1M	$3.2M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1121	+0.125%	$198K	$649K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1120	−0.004%	$93K	$427K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1118	−0.175%	$41K	—	3x	as long as short
GMX POL/USD [ETH-USDC]short	L +0.0217% / S −0.0750%	1h	0.1120	+0.069%	$3K	—	100x
Hyperliquid POL	+0.0221%	1h	0.1122	+0.199%	$7.6M	$3.9M	5x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1121	+0.152%	$910K	$163K	75x	as long as short