Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0411%/8h= −45.1% APRpaid last 24h −0.163%

Price spread now: Kraken Futures against BloFin−0.175%57s7-day average +0.071% · you buy dearer than you sell

Net, funding: paid 7d − costs−$98as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$610.611% of the position

Long on BloFin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.366%−$37 on $10k

Price spread, last 3 days (all we have)+0.387%+$39 · spread now −0.175%, 7d avg +0.071%

Together, before fees+0.020%+$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Kraken Futures is 0.246% cheaper against BloFin than usual: you would sell low and buy high (−$25 if the spread goes back to its 7-day average of +0.071%). Swap the legs. The two prices were read 57 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	BloFin POL-USDT	0.1124	0.0340	pay 0.0170% / 4h	41m 51s	$912K	$169K	75x
Short	Kraken Futures PF_POLUSD	0.1122	−0.0071	pay 0.0009% / 1h	41m 51s	$1.2M	$1.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BloFin. 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 BloFinbpFee Kraken FuturesbpOrdersPrice spread, now −0.175%Rate

Funding earned: −$86.41
Price spread: −0.175% → +0.071%: −$24.64
Slippage, 4 orders: −$39.12
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$172.17
Costs to cover: 0.611%
Break-even: never at this rate

Slippage from BloFin: live order book, 35 min ago; Kraken Futures: 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 BloFin live order book, 35 min ago	0.89 bp	14.5 bp −$14	23.9 bp −$239	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 2 min ago	5.78 bp	18.8 bp −$19	43.9 bp −$439	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	−0.0128%	1h	0.1123	−0.125%	$205K	$226K	50x	as long as short
Kraken Futures PF_POLUSDshort	−0.0071%	1h	0.1122	−0.175%	$1.2M	$1.8M	50x
Reya POLRUSDPERP	−0.0006%	1h	0.1121	−0.293%	$3K	—	—	as long as short
dYdX POL-USD	+0.0003%	1h	0.1124	−0.048%	$17K	$3K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1122	−0.178%	$24K	—	150x	as long as short
Orderly PERP_POL_USDC	+0.0005%	4h	0.1121	−0.258%	$11K	$192K	20x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	−1.192%	$3K	$124K	12x	as long as short
Lighter POL	+0.0096%	1h	0.1122	−0.208%	$299K	$572K	8x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1123	−0.138%	$373K	$353K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1121	−0.266%	$17.3M	$50.6M	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	0.1121	−0.329%	$16.2M	$15.4M	75x	as long as short
OKX POL-USDT-SWAP	+0.0100%	4h	0.1121	−0.285%	$5.8M	$11.9M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1123	−0.142%	$1.9M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1121	−0.258%	$24.4M	$3.8M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1123	−0.151%	$2.9M	$1.1M	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1122	−0.249%	$4.2M	$5.8M	50x	as long as short
BingX POL-USDC	+0.0100%	4h	0.1121	−0.267%	—	$1.6M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1124	−0.070%	$664K	$189K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1124	+0.009%	$1.1M	$3.2M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1125	+0.053%	$199K	$657K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1121	−0.259%	$94K	$427K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1120	−0.366%	$41K	—	3x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0216% / S −0.0750%	1h	0.1122	−0.204%	$3K	—	100x	as long as short
Hyperliquid POL	+0.0304%	1h	0.1124	−0.071%	$7.6M	$4.0M	5x	as long as short
BloFin POL-USDTlong	+0.0340%	4h	0.1124	long leg	$912K	$169K	75x