Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0228%/8h= −25.0% APRpaid last 24h −0.168%

Price spread now: Coinbase International against Bybit+0.170%7-day average −0.357% · you sell dearer than you buy

Net, funding: paid 7d − costs−$133as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$860.860% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.475%−$47 on $10k

Price spread, last 3 days (all we have)−1.276%−$128 · spread now +0.170%, 7d avg −0.357%

Together, before fees−1.751%−$175 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.527% dearer against Bybit than usual: you sell high and buy low (spread +0.170% now, against its 7-day average of −0.357%): +$53 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 7.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit POLUSDT	0.1118	0.0100	pay 0.0050% / 4h	24m 09s	$16.1M	$15.3M	75x
Short	Coinbase International POL-PERP-INTX	0.1120	−0.0128	pay 0.0016% / 1h	24m 09s	$205K	$225K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bybit. 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 BybitbpFee Coinbase InternationalbpOrdersPrice spread, now +0.170%Rate

Funding earned: −$47.88
Price spread: +0.170% → −0.357%: $52.74
Slippage, 4 orders: −$64.96
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$81.1
Costs to cover: 0.860%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Coinbase International: live order book, 54 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 Bybit live order book, 4 min ago	0.45 bp	12.5 bp −$12	34.0 bp −$340	doesn't fit	doesn't fit
Sell Coinbase International live order book, 54 min ago	8.88 bp	37.3 bp −$37	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	−0.0128%	1h	0.1120	+0.170%	$205K	$225K	50x
Kraken Futures PF_POLUSD	−0.0072%	1h	0.1119	+0.120%	$1.2M	$1.8M	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1118	+0.028%	$3K	—	—	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1120	+0.142%	$24K	—	150x	as long as short
Orderly PERP_POL_USDC	+0.0009%	4h	0.1119	+0.054%	$11K	$189K	20x	as long as short
dYdX POL-USD	+0.0017%	1h	0.1120	+0.174%	$17K	$3K	5x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	−0.635%	$3K	$124K	12x	as long as short
Lighter POL	+0.0096%	1h	0.1119	+0.106%	$299K	$572K	8x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1120	+0.146%	$372K	$353K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1119	+0.098%	$17.2M	$50.1M	75x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit POLUSDTlong	+0.0100%	4h	0.1118	long leg	$16.1M	$15.3M	75x
OKX POL-USDT-SWAP	+0.0100%	4h	0.1119	+0.098%	$5.8M	$11.7M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1120	+0.170%	$1.9M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1119	+0.098%	$24.2M	$3.9M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1120	+0.152%	$2.8M	$1.1M	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1119	+0.107%	$4.1M	$5.4M	50x	as long as short
BingX POL-USDC	+0.0100%	4h	0.1119	+0.098%	—	$1.7M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1119	+0.123%	$661K	$183K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1121	+0.233%	$1.1M	$3.2M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1120	+0.170%	$198K	$654K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1118	+0.024%	$93K	$427K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1117	−0.104%	$41K	—	3x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0217% / S −0.0750%	1h	0.1119	+0.122%	$3K	—	100x	as long as short
Hyperliquid POL	+0.0272%	1h	0.1121	+0.268%	$7.6M	$3.9M	5x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1119	+0.054%	$911K	$168K	75x	as long as short