Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0127%/8h= +13.9% APRpaid last 24h +0.022%

Price spread now: BloFin against GMX−0.038%51s7-day average — · you buy dearer than you sell

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

Long on GMX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. BloFin is 0.038% cheaper against GMX than usual: you would sell low and buy high (spread −0.038% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 24 hours of funding at the current rate (+$4 a day). The two prices were read 51 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	GMX POL/USD [ETH-USDC]	0.1091	L +0.0210% / S −0.0388%	pay 0.0026% / 1h	11m 41s	$3K	—	100x
Short	BloFin POL-USDT	0.1091	0.0336	get 0.0168% / 4h	11m 41s	$898K	$146K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against GMX. 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 GMXbpFee BloFinbpOrdersPrice spread, now −0.038%Rate

Funding earned: $26.57
Price spread: −0.038% → 0.000%: −$3.76
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$1.18
Costs to cover: 0.240%
Break-even: 7.3 days

Slippage unknown: GMX: no order-book sample; BloFin: live order book, 5 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 GMX no order-book sample	—	—	—	—	—
Sell BloFin live order book, 5 min ago	1.38 bp	14.8 bp −$15	25.1 bp −$251	78.1 bp −$7,810	doesn't fit

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0544%	1h	0.1087	−0.386%	$201K	$176K	50x	as long as short
Gate POL_USDT	−0.0254%	4h	0.1090	−0.093%	$1.8M	$1.3M	75x	as long as short
Kraken Futures PF_POLUSD	−0.0233%	1h	0.1091	+0.012%	$1.1M	$995K	50x	as long as short
OKX POL-USDT-SWAP	−0.0080%	4h	0.1090	−0.111%	$5.7M	$9.3M	50x	as long as short
Orderly PERP_POL_USDC	−0.0049%	4h	0.1090	−0.093%	$11K	$2.0M	20x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1090	−0.088%	$2K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1092	+0.034%	$19K	$3K	5x	as long as short
ApeX Omni POLUSDT	+0.0001%	1h	0.1090	−0.111%	$193K	$641K	50x	as long as short
gTrade (Gains Network) POL/USD	L +0.0003% / S −0.0003%	1h	0.1091	+0.005%	$9K	—	150x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+1.814%	$3K	$124K	12x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit POLUSDT	+0.0036%	4h	0.1089	−0.175%	$15.7M	$9.6M	75x	as long as short
GRVT POL_USDT_Perp	+0.0046%	4h	0.1090	−0.083%	$1.1M	$2.9M	10x	as long as short
Lighter POL	+0.0096%	1h	0.1090	−0.141%	$275K	$544K	8x	as long as short
Extended POL-USD	+0.0096%	1h	0.1089	−0.184%	$91K	$518K	10x	as long as short
MEXC POL_USDT	+0.0096%	4h	0.1089	−0.193%	$24.9M	$3.4M	125x	as long as short
Binance POLUSDT	+0.0096%	4h	0.1090	−0.148%	$16.6M	$36.3M	75x	as long as short
Hyperliquid POL	+0.0100%	1h	0.1091	−0.010%	$7.4M	$3.7M	5x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1091	−0.017%	$362K	$167K	20x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1090	−0.093%	$2.9M	$918K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1090	−0.093%	$4.0M	$3.9M	50x	as long as short
BingX POL-USDC	+0.0100%	4h	0.1090	−0.138%	—	$1.6M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1090	−0.145%	$602K	$166K	—	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1089	−0.248%	$40K	—	3x	as long as short
GMX POL/USD [ETH-USDC]long	L +0.0210% / S −0.0388%	1h	0.1091	long leg	$3K	—	100x
BloFin POL-USDTshort	+0.0336%	4h	0.1091	−0.038%	$898K	$146K	75x