Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.005%

Price spread now: Lighter against Binance+0.008%7-day average +0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$430.429% of the position

Long on Binance Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.241%+$24 on $10k

Price spread, last 4 days (all we have)+0.048%+$5 · spread now +0.008%, 7d avg +0.051%

Together, before fees+0.289%+ Points / potential airdropLighter: Season 3 · farm board+$29 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.043% cheaper against Binance than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.051%.

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	2h 43m	$17.0M	$44.1M	75x
Short	Lighter POL	0.1105	0.0096	get 0.0012% / 1h	43m 56s	$285K	$576K	8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.008%Rate

Funding earned: −$0.84
Price spread: +0.008% → +0.051%: −$4.3
Slippage, 4 orders: −$32.87
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$48.01
Costs to cover: 0.429%
Break-even: never at this rate

Slippage from Binance: live order book, 13 min ago; Lighter: live order book, 16 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, 13 min ago	0.45 bp	11.7 bp −$12	23.4 bp −$234	196.3 bp −$19.6K	doesn't fit
Sell Lighter live order book, 16 min ago	5.77 bp	10.3 bp −$10	66.3 bp −$663	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	−0.0312%	1h	0.1104	−0.092%	$204K	$205K	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1104	−0.137%	$3K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1104	−0.125%	$17K	$4K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1104	−0.094%	$24K	—	150x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+0.542%	$3K	$124K	12x	as long as short
Orderly PERP_POL_USDC	+0.0034%	4h	0.1104	−0.101%	$11K	$254K	20x	as long as short
Lighter POLshort	+0.0096%	1h	0.1105	+0.008%	$285K	$576K	8x
Aster POLUSDT	+0.0100%	4h	0.1105	+0.007%	$367K	$275K	20x	as long as short
Binance POLUSDTlong	+0.0100%	4h	0.1105	long leg	$17.0M	$44.1M	75x
Bybit POLUSDT	+0.0100%	4h	0.1105	+0.017%	$16.0M	$12.6M	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	0.1106	+0.053%	$5.7M	$10.5M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1103	−0.219%	$1.8M	$1.2M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1105	−0.010%	$23.9M	$3.6M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1104	−0.137%	$2.9M	$986K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1106	+0.071%	$4.2M	$4.9M	50x	as long as short
BingX POL-USDC	+0.0100%	4h	0.1104	−0.056%	—	$1.7M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1107	+0.146%	$613K	$224K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1110	+0.460%	$1.1M	$2.8M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1109	+0.361%	$196K	$641K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1105	+0.010%	$92K	$447K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1103	−0.200%	$40K	—	3x	as long as short
Kraken Futures PF_POLUSD	+0.0116%	1h	0.1106	+0.045%	$1.2M	$1.3M	50x	as long as short
Hyperliquid POL	+0.0135%	1h	0.1106	+0.134%	$7.5M	$3.9M	5x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1104	−0.097%	$3K	—	100x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1109	+0.370%	$912K	$156K	75x	as long as short