Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0111%/8h= −12.2% APRpaid last 24h −0.030%

Price spread now: Variational Omni against GMX−0.067%7-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 Variational Omni

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—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Variational Omni is 0.067% cheaper against GMX than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX POL/USD [ETH-USDC]	0.1126	L +0.0211% / S −0.0606%	pay 0.0026% / 1h	17m 50s	$3K	—	100x
Short	Variational Omni POL	0.1126	0.0100	get 0.0050% / 4h	1h 17m	$665K	$193K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.067%Rate

Funding earned: −$23.32
Price spread: −0.067% → 0.000%: −$6.67
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$41.99
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Variational Omni: RFQ quote, 1 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 Variational Omni RFQ quote, 1 min ago	4.44 bp	doesn't fit	40.0 bp −$400	doesn't fit	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
Injective POL/USDC PERP	−0.0162%	1h	0.1111	−1.355%	$3K	$124K	12x	as long as short
Coinbase International POL-PERP-INTX	−0.0128%	1h	0.1126	−0.023%	$206K	$237K	50x	as long as short
Kraken Futures PF_POLUSD	−0.0071%	1h	0.1127	+0.039%	$1.2M	$1.8M	50x	as long as short
Orderly PERP_POL_USDC	−0.0016%	4h	0.1125	−0.076%	$11K	$199K	20x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1125	−0.085%	$3K	—	—	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1126	+0.007%	$24K	—	150x	as long as short
dYdX POL-USD	+0.0004%	1h	0.1127	+0.053%	$17K	$3K	5x	as long as short
Lighter POL	+0.0096%	1h	0.1126	−0.026%	$300K	$577K	8x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1127	+0.029%	$377K	$360K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1126	−0.029%	$17.4M	$51.6M	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	0.1125	−0.130%	$16.2M	$15.7M	75x	as long as short
OKX POL-USDT-SWAP	+0.0100%	4h	0.1125	−0.076%	$5.8M	$12.1M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1126	−0.005%	$1.9M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1125	−0.067%	$23.8M	$3.9M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1127	+0.021%	$2.8M	$1.1M	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1126	−0.023%	$4.2M	$5.9M	50x	as long as short
BingX POL-USDT	+0.0100%	4h	0.1125	−0.085%	—	$7.2M	—	as long as short
Variational Omni POLshort	+0.0100%	4h	0.1126	−0.067%	$665K	$193K	—
GRVT POL_USDT_Perp	+0.0100%	4h	0.1126	−0.050%	$1.1M	$3.3M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1127	+0.066%	$199K	$657K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1126	−0.061%	$94K	$427K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1125	−0.112%	$41K	—	3x	as long as short
GMX POL/USD [ETH-USDC]long	L +0.0211% / S −0.0606%	1h	0.1126	long leg	$3K	—	100x
Hyperliquid POL	+0.0216%	1h	0.1128	+0.172%	$7.6M	$4.6M	5x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1127	+0.057%	$917K	$170K	75x	as long as short