Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0052%/8h= −5.7% APRpaid last 24h −0.001%

Price spread now: Lighter against BingX−0.007%7-day average +0.060% · you buy dearer than you sell

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$460.460% of the position

Long on BingX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$2 on $10k

Price spread, last 4 days (all we have)+0.205%+$21 · spread now −0.007%, 7d avg +0.060%

Together, before fees+0.220%+ Points / potential airdropLighter: Season 3 · farm board+$22 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Lighter is 0.068% cheaper against BingX than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.060%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX POL-USDC	0.1100	0.0100	pay 0.0050% / 4h	2h 59m	—	$1.6M	—
Short	Lighter POL	0.1100	0.0048	get 0.0006% / 1h	59m 09s	$269K	$502K	8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BingX. 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 BingXbpFee LighterbpOrdersPrice spread, now −0.007%Rate

Funding earned: −$10.92
Price spread: −0.007% → +0.060%: −$6.75
Slippage, 4 orders: −$35.97
Fee BingX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$63.64
Costs to cover: 0.460%
Break-even: never at this rate

Slippage from BingX: live order book, 8 min ago; Lighter: live order book, 26 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 BingX live order book, 8 min ago	4.54 bp	14.2 bp −$14	53.4 bp −$534	736.5 bp −$73.6K	doesn't fit
Sell Lighter live order book, 26 min ago	6.55 bp	6.6 bp −$7	66.1 bp −$661	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	−0.0584%	1h	0.1098	−0.191%	$200K	$180K	50x	as long as short
Kraken Futures PF_POLUSD	−0.0351%	1h	0.1101	+0.040%	$1.2M	$995K	50x	as long as short
Gate POL_USDT	−0.0188%	4h	0.1100	−0.018%	$1.8M	$1.1M	75x	as long as short
Orderly PERP_POL_USDC	−0.0121%	4h	0.1100	−0.036%	$11K	$2.5M	20x	as long as short
OKX POL-USDT-SWAP	−0.0049%	4h	0.1100	+0.027%	$5.7M	$9.1M	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1099	−0.066%	$3K	—	—	as long as short
gTrade (Gains Network) POL/USD	L +0.0003% / S −0.0003%	1h	0.1102	+0.154%	$9K	—	150x	as long as short
GRVT POL_USDT_Perp	+0.0004%	4h	0.1101	+0.082%	$1.1M	$2.8M	10x	as long as short
MEXC POL_USDT	+0.0020%	4h	0.1100	−0.036%	$25.3M	$3.3M	125x	as long as short
Binance POLUSDT	+0.0020%	4h	0.1099	−0.064%	$16.8M	$34.4M	75x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended POL-USD	+0.0024%	1h	0.1099	−0.055%	$94K	$521K	10x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+0.991%	$3K	$124K	12x	as long as short
Lighter POLshort	+0.0048%	1h	0.1100	−0.007%	$269K	$502K	8x
ApeX Omni POLUSDT	+0.0074%	1h	0.1101	+0.082%	$156K	$663K	50x	as long as short
BloFin POL-USDT	+0.0081%	4h	0.1100	−0.036%	$897K	$143K	75x	as long as short
Aevo POL-PERP	+0.0088%	1h	0.1099	−0.145%	$40K	—	3x	as long as short
Hyperliquid POL	+0.0100%	1h	0.1102	+0.191%	$7.4M	$3.6M	5x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1101	+0.109%	$370K	$172K	20x	as long as short
Bybit POLUSDT	+0.0100%	4h	0.1100	−0.055%	$15.8M	$9.1M	75x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1101	+0.091%	$2.9M	$782K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1099	−0.064%	$4.0M	$3.7M	50x	as long as short
BingX POL-USDClong	+0.0100%	4h	0.1100	long leg	—	$1.6M	—
Variational Omni POL	+0.0100%	4h	0.1100	+0.004%	$609K	$167K	—	as long as short
dYdX POL-USD	+0.0104%	1h	0.1102	+0.174%	$23K	$8K	5x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0164% / S −0.0294%	1h	0.1102	+0.197%	$3K	—	100x	as long as short