Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.038%

Price spread now: Injective against BingX+0.525%72s7-day average −0.213% · you sell dearer than you buy

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

Long on BingX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−1.510%−$151 on $10k

Price spread, last 4 days (all we have)−2.996%−$300 · spread now +0.525%, 7d avg −0.213%

Together, before fees−4.505%−$451 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 0.737% dearer against BingX than usual: you sell high and buy low (spread +0.525% now, against its 7-day average of −0.213%): +$74 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 37 days. At the pace of the last 7 days (−1.510% in total) that is about 3.4 days. The two prices were read 72 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX POL-USDC	0.1105	0.0100	pay 0.0050% / 4h	3h 49m	—	$1.6M	—
Short	Injective POL/USDC PERP	0.1111	0.0033	get 0.0004% / 1h	49m 55s	$3K	$124K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BingX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BingXbpFee InjectivebpOrdersPrice spread, now +0.525%Rate

Funding earned: −$14
Price spread: +0.525% → −0.213%: $73.75
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $49.73
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: BingX: live order book, 7 min ago; Injective: live order book, 24 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 BingX live order book, 7 min ago	4.09 bp	60.9 bp −$61	239.2 bp −$2,392	983.8 bp −$98.4K	1261.6 bp −$630.8K
Sell Injective live order book, 24 min ago	77.45 bp	doesn't fit	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-INTX	−0.0512%	1h	0.1098	−0.651%	$202K	$198K	50x	as long as short
Kraken Futures PF_POLUSD	−0.0139%	1h	0.1105	+0.013%	$1.2M	$1.2M	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1105	−0.032%	$3K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1107	+0.154%	$17K	$2K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1106	+0.041%	$24K	—	150x	as long as short
Injective POL/USDC PERPshort	+0.0033%	1h	0.1111	+0.525%	$3K	$124K	12x
Orderly PERP_POL_USDC	+0.0041%	4h	0.1105	−0.027%	$11K	$243K	20x	as long as short
Lighter POL	+0.0096%	1h	0.1106	+0.039%	$281K	$540K	8x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1106	+0.088%	$367K	$247K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1105	+0.009%	$17.1M	$41.3M	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	0.1105	0.000%	$15.9M	$11.7M	75x	as long as short
OKX POL-USDT-SWAP	+0.0100%	4h	0.1105	+0.009%	$5.7M	$10.1M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1105	−0.045%	$1.8M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1105	+0.027%	$24.8M	$3.5M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1106	+0.081%	$2.9M	$975K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1105	+0.018%	$4.1M	$4.6M	50x	as long as short
BingX POL-USDClong	+0.0100%	4h	0.1105	long leg	—	$1.6M	—
Variational Omni POL	+0.0100%	4h	0.1105	+0.014%	$612K	$206K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1107	+0.137%	$1.1M	$2.8M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1104	−0.109%	$196K	$638K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1105	−0.011%	$92K	$450K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1104	−0.134%	$40K	—	3x	as long as short
Hyperliquid POL	+0.0134%	1h	0.1107	+0.186%	$7.5M	$3.7M	5x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1105	+0.021%	$3K	—	100x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1106	+0.072%	$911K	$169K	75x	as long as short