Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0239%/8h= −26.2% APRpaid last 24h −0.065%

Price spread now: Kraken Futures against Bybit+0.026%7-day average +0.081% · you sell dearer than you buy

Net, funding: paid 7d − costs−$91as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$630.633% of the position

Long on Bybit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.277%−$28 on $10k

Price spread, last 4 days (all we have)−0.267%−$27 · spread now +0.026%, 7d avg +0.081%

Together, before fees−0.544%−$54 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Kraken Futures is 0.055% cheaper against Bybit than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.081%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit POLUSDT	0.1092	0.0100	pay 0.0050% / 4h	2h 49m	$15.7M	$10.7M	75x
Short	Kraken Futures PF_POLUSD	0.1092	−0.0139	pay 0.0017% / 1h	49m 34s	$1.2M	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.026%Rate

Funding earned: −$50.29
Price spread: +0.026% → +0.081%: −$5.51
Slippage, 4 orders: −$42.33
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$119.12
Costs to cover: 0.633%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Kraken Futures: live order book, 4 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	1.83 bp	13.2 bp −$13	31.1 bp −$311	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 4 min ago	6.86 bp	21.6 bp −$22	48.6 bp −$486	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	−0.0480%	1h	0.1091	−0.082%	$201K	$199K	50x	as long as short
Gate POL_USDT	−0.0246%	4h	0.1091	−0.073%	$1.8M	$1.3M	75x	as long as short
Kraken Futures PF_POLUSDshort	−0.0139%	1h	0.1092	+0.026%	$1.2M	$1.0M	50x
Reya POLRUSDPERP	−0.0006%	1h	0.1092	+0.030%	$2K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1093	+0.082%	$19K	$4K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0003% / S −0.0001%	1h	0.1093	+0.130%	$12K	—	150x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+1.749%	$3K	$124K	12x	as long as short
Orderly PERP_POL_USDC	+0.0038%	4h	0.1093	+0.082%	$11K	$738K	20x	as long as short
Lighter POL	+0.0096%	1h	0.1092	+0.038%	$278K	$541K	8x	as long as short
Hyperliquid POL	+0.0100%	1h	0.1094	+0.183%	$7.4M	$3.7M	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster POLUSDT	+0.0100%	4h	0.1093	+0.114%	$363K	$247K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1093	+0.082%	$16.7M	$38.7M	75x	as long as short
Bybit POLUSDTlong	+0.0100%	4h	0.1092	long leg	$15.7M	$10.7M	75x
OKX POL-USDT-SWAP	+0.0100%	4h	0.1092	+0.046%	$5.7M	$9.5M	50x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1092	+0.027%	$24.6M	$3.2M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1092	+0.037%	$2.9M	$941K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1092	+0.027%	$4.0M	$4.1M	50x	as long as short
BingX POL-USDC	+0.0100%	4h	0.1092	−0.018%	—	$1.7M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1091	−0.086%	$604K	$166K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1092	+0.019%	$1.1M	$2.7M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1093	+0.101%	$194K	$633K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1092	+0.029%	$92K	$276K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1093	+0.098%	$40K	—	3x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1093	+0.146%	$3K	—	100x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1092	+0.055%	$897K	$161K	75x	as long as short