Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.038%

Price spread now: KuCoin against Injective−1.584%7-day average +0.210% · you buy dearer than you sell

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

Long on Injective Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+1.498%+$150 on $10k

Price spread, last 4 days (all we have)+3.795%+$380 · spread now −1.584%, 7d avg +0.210%

Together, before fees+5.294%+$529 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 1.794% cheaper against Injective than usual: you would sell low and buy high (spread −1.584% now, against its 7-day average of +0.210%). If the spread goes back, that is −$179 on $10k: about 3 months of funding at the current rate (+$2 a day). At the pace of the last 7 days (+1.498% in total) that is about 8.4 days.

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	27m 25s	$3K	$124K	12x
Short	KuCoin POLUSDTM	0.1093	0.0100	get 0.0050% / 4h	1h 27m	$2.9M	$938K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −1.584%Rate

Funding earned: $14
Price spread: −1.584% → +0.210%: −$179.41
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$177.43
Costs to cover: 0.120%
Break-even: 95.7 days

Slippage unknown: Injective: live order book, 37 min ago; KuCoin: live order book, 10 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, 37 min ago	77.80 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 10 min ago	5.50 bp	30.2 bp −$30	130.2 bp −$1,302	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	−0.0472%	1h	0.1088	−2.070%	$201K	$202K	50x	as long as short
Kraken Futures PF_POLUSD	−0.0379%	1h	0.1094	−1.502%	$1.2M	$1.0M	50x	as long as short
Gate POL_USDT	−0.0300%	4h	0.1092	−1.665%	$1.8M	$1.3M	75x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1092	−1.748%	$2K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1093	−1.583%	$19K	$3K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0003% / S −0.0001%	1h	0.1093	−1.622%	$12K	—	150x	as long as short
Orderly PERP_POL_USDC	+0.0023%	4h	0.1093	−1.584%	$11K	$1.3M	20x	as long as short
Injective POL/USDC PERPlong	+0.0033%	1h	0.1111	long leg	$3K	$124K	12x
OKX POL-USDT-SWAP	+0.0048%	4h	0.1094	−1.566%	$5.7M	$9.4M	50x	as long as short
Lighter POL	+0.0096%	1h	0.1094	−1.571%	$277K	$543K	8x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid POL	+0.0100%	1h	0.1096	−1.386%	$7.4M	$3.7M	5x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1094	−1.524%	$363K	$240K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1094	−1.559%	$16.7M	$37.2M	75x	as long as short
Bybit POLUSDT	+0.0100%	4h	0.1093	−1.584%	$15.7M	$9.9M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1094	−1.557%	$24.6M	$3.3M	125x	as long as short
KuCoin POLUSDTMshort	+0.0100%	4h	0.1093	−1.584%	$2.9M	$938K	50x
Bitget POLUSDT	+0.0100%	4h	0.1094	−1.494%	$4.1M	$4.1M	50x	as long as short
BingX POL-USDT	+0.0100%	4h	0.1093	−1.584%	—	$7.2M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1091	−1.813%	$603K	$167K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1091	−1.773%	$1.1M	$2.8M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1092	−1.710%	$194K	$636K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1093	−1.584%	$93K	$235K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1092	−1.665%	$40K	—	3x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1093	−1.594%	$3K	—	100x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1093	−1.638%	$897K	$150K	75x	as long as short