Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0086%/8h= −9.4% APRpaid last 24h −0.034%

Price spread now: Kraken Futures against Orderly+0.093%7-day average +0.088% · you sell dearer than you buy

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

Long on Orderly Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.273%+$27 on $10k

Price spread, last 3 days (all we have)+0.105%+$10 · spread now +0.093%, 7d avg +0.088%

Together, before fees+0.378%+$38 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.088%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.273%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_POL_USDC	0.1121	0.0014	pay 0.0007% / 4h	0m 37s	$11K	$183K	20x
Short	Kraken Futures PF_POLUSD	0.1122	−0.0072	pay 0.0009% / 1h	0m 37s	$1.2M	$1.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.093%Rate

Funding earned: −$18.02
Price spread: +0.093% → +0.088%: $0.56
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$33.45
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Kraken Futures: live order book, 3 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 Kraken Futures live order book, 3 min ago	4.01 bp	18.2 bp −$18	45.4 bp −$454	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	−0.0128%	1h	0.1118	−0.241%	$205K	$217K	50x	as long as short
Kraken Futures PF_POLUSDshort	−0.0072%	1h	0.1122	+0.093%	$1.2M	$1.7M	50x
Reya POLRUSDPERP	−0.0006%	1h	0.1121	−0.014%	$3K	—	—	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1121	+0.062%	$24K	—	150x	as long as short
dYdX POL-USD	+0.0012%	1h	0.1121	+0.062%	$17K	$3K	5x	as long as short
Orderly PERP_POL_USDClong	+0.0014%	4h	0.1121	long leg	$11K	$183K	20x
Injective POL/USDC PERP	+0.0033%	1h	0.1111	−0.866%	$3K	$124K	12x	as long as short
Lighter POL	+0.0096%	1h	0.1121	+0.062%	$300K	$580K	8x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1121	+0.035%	$372K	$340K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1121	+0.039%	$17.3M	$48.7M	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	0.1120	−0.027%	$16.2M	$14.4M	75x	as long as short
OKX POL-USDT-SWAP	+0.0100%	4h	0.1121	+0.009%	$5.8M	$11.3M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1120	−0.027%	$1.9M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1121	+0.045%	$24.3M	$3.9M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1122	+0.107%	$3.0M	$1.1M	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1122	+0.089%	$4.2M	$5.2M	50x	as long as short
BingX POL-USDT	+0.0100%	4h	0.1121	+0.027%	—	$7.2M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1120	−0.098%	$662K	$183K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1120	−0.055%	$1.1M	$3.1M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1122	+0.116%	$198K	$646K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1121	+0.024%	$93K	$427K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1119	−0.107%	$41K	—	3x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0216% / S −0.0750%	1h	0.1121	+0.061%	$3K	—	100x	as long as short
Hyperliquid POL	+0.0227%	1h	0.1123	+0.214%	$7.6M	$3.9M	5x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1120	−0.036%	$908K	$159K	75x	as long as short