Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0564%/8h= −61.8% APRpaid last 24h −0.152%

Price spread now: Coinbase International against Binance−0.615%7-day average −0.385% · you buy dearer than you sell

Net, funding: paid 7d − costs−$113as in the Funding arb table

Net, price: spread back to 7d avg − costs−$100as in the Price arb table

costs, in and out, $10k−$770.767% of the position

Long on Binance Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.361%−$36 on $10k

Price spread, last 4 days (all we have)−1.736%−$174 · spread now −0.615%, 7d avg −0.385%

Together, before fees−2.097%−$210 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and Coinbase International is 0.230% cheaper against Binance than usual: you would sell low and buy high (−$23 if the spread goes back to its 7-day average of −0.385%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.361% in total (about -18.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance POLUSDT	0.1105	0.0100	pay 0.0050% / 4h	1h 11m	$17.2M	$42.0M	75x
Short	Coinbase International POL-PERP-INTX	0.1098	−0.0464	pay 0.0058% / 1h	11m 41s	$202K	$198K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Binance. 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 BinancebpFee Coinbase InternationalbpOrdersPrice spread, now −0.615%Rate

Funding earned: −$118.44
Price spread: −0.615% → −0.385%: −$23.03
Slippage, 4 orders: −$56.69
Fee Binance: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$218.15
Costs to cover: 0.767%
Break-even: never at this rate

Slippage from Binance: live order book, 15 min ago; Coinbase International: live order book, 51 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 Binance live order book, 15 min ago	1.36 bp	12.0 bp −$12	23.9 bp −$239	185.6 bp −$18.6K	doesn't fit
Sell Coinbase International live order book, 51 min ago	13.63 bp	18.6 bp −$19	doesn't fit	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-INTXshort	−0.0464%	1h	0.1098	−0.615%	$202K	$198K	50x
Reya POLRUSDPERP	−0.0006%	1h	0.1104	−0.029%	$3K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1105	+0.025%	$17K	$1K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1105	+0.042%	$24K	—	150x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+0.561%	$3K	$124K	12x	as long as short
Orderly PERP_POL_USDC	+0.0042%	4h	0.1105	−0.009%	$11K	$275K	20x	as long as short
Lighter POL	+0.0096%	1h	0.1105	+0.019%	$285K	$565K	8x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1104	−0.041%	$367K	$269K	20x	as long as short
Binance POLUSDTlong	+0.0100%	4h	0.1105	long leg	$17.2M	$42.0M	75x
Bybit POLUSDT	+0.0100%	4h	0.1104	−0.072%	$15.9M	$11.7M	75x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX POL-USDT-SWAP	+0.0100%	4h	0.1104	−0.072%	$5.7M	$10.0M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1104	−0.081%	$1.8M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1105	−0.027%	$24.5M	$3.6M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1105	−0.009%	$2.9M	$973K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1105	+0.036%	$4.2M	$4.6M	50x	as long as short
BingX POL-USDT	+0.0100%	4h	0.1104	−0.063%	—	$7.2M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1105	+0.021%	$612K	$209K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1106	+0.148%	$1.1M	$2.7M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1106	+0.109%	$196K	$635K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1104	−0.073%	$92K	$448K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1103	−0.163%	$40K	—	3x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1105	+0.046%	$3K	—	100x	as long as short
Hyperliquid POL	+0.0228%	1h	0.1106	+0.154%	$7.5M	$3.7M	5x	as long as short
Kraken Futures PF_POLUSD	+0.0259%	1h	0.1106	+0.070%	$1.2M	$1.2M	50x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1106	+0.091%	$917K	$167K	75x	as long as short