Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0087%/8h= +9.6% APRpaid last 24h +0.010%

Price spread now: Bybit against ApeX Omni0.000%7-day average −0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$720.722% of the position

Long on ApeX Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.027%−$3 on $10k

Price spread, last 4 days (all we have)−0.337%−$34 · spread now 0.000%, 7d avg −0.050%

Together, before fees−0.364%−$36 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Bybit is 0.050% dearer against ApeX Omni than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni POLUSDT	0.1087	−0.0016	get 0.0002% / 1h	21m 13s	$193K	$643K	50x
Short	Bybit POLUSDT	0.1087	0.0071	get 0.0035% / 4h	21m 13s	$15.6M	$9.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against ApeX Omni. 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 ApeX OmnibpFee BybitbpOrdersPrice spread, now 0.000%Rate

Funding earned: $18.32
Price spread: 0.000% → −0.050%: $5.04
Slippage, 4 orders: −$51.18
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$48.82
Costs to cover: 0.722%
Break-even: 25.7 days

Slippage from ApeX Omni: live order book, 17 min ago; Bybit: live order book, 2 min ago.

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 ApeX Omni live order book, 17 min ago	13.76 bp	24.4 bp −$24	127.4 bp −$1,274	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	1.38 bp	12.1 bp −$12	31.0 bp −$310	doesn't fit	doesn't fit

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	−0.0544%	1h	0.1087	0.000%	$201K	$176K	50x	as long as short
Gate POL_USDT	−0.0278%	4h	0.1087	+0.046%	$1.8M	$1.3M	75x	as long as short
Kraken Futures PF_POLUSD	−0.0234%	1h	0.1088	+0.053%	$1.1M	$996K	50x	as long as short
OKX POL-USDT-SWAP	−0.0082%	4h	0.1088	+0.110%	$5.7M	$9.3M	50x	as long as short
Orderly PERP_POL_USDC	−0.0040%	4h	0.1088	+0.074%	$11K	$1.9M	20x	as long as short
ApeX Omni POLUSDTlong	−0.0016%	1h	0.1087	long leg	$193K	$643K	50x
Reya POLRUSDPERP	−0.0006%	1h	0.1088	+0.078%	$2K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1090	+0.248%	$18K	$3K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0003% / S −0.0003%	1h	0.1089	+0.204%	$9K	—	150x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+2.208%	$3K	$124K	12x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT POL_USDT_Perp	+0.0038%	4h	0.1087	+0.009%	$1.1M	$2.8M	10x	as long as short
Bybit POLUSDTshort	+0.0071%	4h	0.1087	0.000%	$15.6M	$9.6M	75x
Lighter POL	+0.0096%	1h	0.1087	+0.037%	$275K	$544K	8x	as long as short
Hyperliquid POL	+0.0100%	1h	0.1090	+0.258%	$7.4M	$3.7M	5x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1089	+0.172%	$361K	$167K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1087	+0.041%	$16.6M	$36.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1088	+0.120%	$24.9M	$3.4M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1089	+0.156%	$2.8M	$918K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1089	+0.156%	$4.0M	$3.9M	50x	as long as short
BingX POL-USDC	+0.0100%	4h	0.1088	+0.101%	—	$1.6M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1086	−0.092%	$601K	$166K	—	as long as short
Extended POL-USD	+0.0104%	1h	0.1088	+0.059%	$91K	$522K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1085	−0.152%	$40K	—	3x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1089	+0.186%	$3K	—	100x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1088	+0.083%	$901K	$145K	75x	as long as short