Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.033%

Price spread now: Binance against Injective−1.628%107s7-day average +0.238% · you buy dearer than you sell

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

Long on Injective Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+1.292%+$129 on $10k

Price spread, last 4 days (all we have)+4.749%+$475 · spread now −1.628%, 7d avg +0.238%

Together, before fees+6.041%+$604 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 1.866% cheaper against Injective than usual: you would sell low and buy high (spread −1.628% now, against its 7-day average of +0.238%). If the spread goes back, that is −$187 on $10k: about 3 months of funding at the current rate (+$2 a day). At the pace of the last 7 days (+1.292% in total) that is about 10 days. The two prices were read 107 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	Injective POL/USDC PERP	0.1111	0.0033	pay 0.0004% / 1h	41m 30s	$3K	$124K	12x
Short	Binance POLUSDT	0.1093	0.0100	get 0.0050% / 4h	41m 30s	$16.9M	$42.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Injective. 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 InjectivebpFee BinancebpOrdersPrice spread, now −1.628%Rate

Funding earned: $14
Price spread: −1.628% → +0.238%: −$186.64
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Binance: 5 bp × 2 orders: −$10
Net: −$182.66
Costs to cover: 0.100%
Break-even: 98.3 days

Slippage unknown: Injective: live order book, 38 min ago; Binance: live order book, 15 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 Injective live order book, 38 min ago	68.03 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 15 min ago	0.45 bp	12.6 bp −$13	29.3 bp −$293	139.9 bp −$14.0K	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	−0.0520%	1h	0.1091	−1.800%	$201K	$195K	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1092	−1.673%	$2K	—	—	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1093	−1.589%	$24K	—	150x	as long as short
Injective POL/USDC PERPlong	+0.0033%	1h	0.1111	long leg	$3K	$124K	12x
Orderly PERP_POL_USDC	+0.0040%	4h	0.1093	−1.638%	$11K	$263K	20x	as long as short
ApeX Omni POLUSDT	+0.0086%	1h	0.1093	−1.620%	$194K	$633K	50x	as long as short
Lighter POL	+0.0096%	1h	0.1093	−1.620%	$278K	$554K	8x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1093	−1.640%	$363K	$271K	20x	as long as short
Binance POLUSDTshort	+0.0100%	4h	0.1093	−1.628%	$16.9M	$42.1M	75x
Bybit POLUSDT	+0.0100%	4h	0.1092	−1.674%	$15.7M	$11.8M	75x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX POL-USDT-SWAP	+0.0100%	4h	0.1093	−1.647%	$5.6M	$10.0M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1092	−1.719%	$1.8M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1093	−1.638%	$24.3M	$3.6M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1093	−1.629%	$2.9M	$976K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1093	−1.620%	$4.1M	$4.7M	50x	as long as short
BingX POL-USDC	+0.0100%	4h	0.1093	−1.656%	—	$1.6M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1092	−1.737%	$604K	$209K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1093	−1.641%	$1.1M	$2.7M	10x	as long as short
Extended POL-USD	+0.0104%	1h	0.1093	−1.645%	$94K	$453K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1091	−1.800%	$40K	—	3x	as long as short
Hyperliquid POL	+0.0181%	1h	0.1095	−1.476%	$7.4M	$3.7M	5x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1093	−1.599%	$3K	—	100x	as long as short
dYdX POL-USD	+0.0287%	1h	0.1093	−1.639%	$17K	$2K	5x	as long as short
Kraken Futures PF_POLUSD	+0.0316%	1h	0.1093	−1.620%	$1.2M	$1.2M	50x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1092	−1.674%	$907K	$166K	75x	as long as short