Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0003%/8h= −0.3% APRpaid last 24h +0.050%

Price spread now: Reya against Orderly−0.053%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Reya

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—+ Points / potential airdropReya: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Reya is 0.053% cheaper against Orderly than usual: you would sell low and buy high, −$5 on $10k if it 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	0.1127	−0.0004	get 0.0002% / 4h	54m 07s	$11K	$194K	20x
Short	Reya POLRUSDPERP	0.1126	−0.0006	pay 0.0001% / 1h	54m 07s	$3K	—	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.053%Rate

Funding earned: −$0.58
Price spread: −0.053% → 0.000%: −$5.29
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Reya: 3 bp × 2 orders: −$6
Net: −$17.87
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Reya: 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 Reya no order-book sample	—	—	—	—	—

Orderly and Reya: 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	0.1122	−0.435%	$205K	$236K	50x	as long as short
Kraken Futures PF_POLUSD	−0.0071%	1h	0.1128	+0.064%	$1.2M	$1.8M	50x	as long as short
Reya POLRUSDPERPshort	−0.0006%	1h	0.1126	−0.053%	$3K	—	—
Orderly PERP_POL_USDClong	−0.0004%	4h	0.1127	long leg	$11K	$194K	20x
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1127	+0.039%	$24K	—	150x	as long as short
dYdX POL-USD	+0.0010%	1h	0.1127	+0.020%	$17K	$3K	5x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	−1.411%	$3K	$124K	12x	as long as short
Lighter POL	+0.0096%	1h	0.1127	+0.011%	$301K	$571K	8x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1128	+0.057%	$375K	$360K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1127	−0.018%	$17.4M	$50.7M	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	0.1126	−0.106%	$16.2M	$15.5M	75x	as long as short
OKX POL-USDT-SWAP	+0.0100%	4h	0.1127	−0.035%	$5.8M	$12.0M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1127	+0.044%	$1.9M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1127	+0.027%	$24.4M	$3.8M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1127	+0.018%	$2.8M	$1.0M	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1127	+0.009%	$4.2M	$5.8M	50x	as long as short
BingX POL-USDC	+0.0100%	4h	0.1127	0.000%	—	$1.6M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1126	−0.116%	$665K	$189K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1127	+0.036%	$1.1M	$3.2M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1127	+0.009%	$199K	$657K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1127	−0.008%	$94K	$427K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1125	−0.124%	$41K	—	3x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0211% / S −0.0606%	1h	0.1127	+0.029%	$3K	—	100x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1128	+0.053%	$913K	$170K	75x	as long as short
Hyperliquid POL	+0.0351%	1h	0.1129	+0.222%	$7.7M	$4.0M	5x	as long as short