POL

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0021%/8h= −2.3% APRnext payment −$0.03 per $10,000 · paid last 24h +0.119%

Price spread now: Lighter against Kraken Futures−0.040%7-day average +0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$630.627% of the position

Long on Kraken Futures Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.376%+$38 on $10k

Price spread, last 3 days (all we have)+0.122%+$12 · spread now −0.040%, 7d avg +0.002%

Together, before fees+0.498%+ Points / potential airdropLighter: Season 3 · farm board+$50 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Lighter is 0.042% cheaper against Kraken Futures than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.002%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.376%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_POLUSD	0.1102	0.0117	pay 0.0015% / 1h	16m 17s	$1.2M	$1.2M	50x
Short	Lighter POL	0.1102	0.0096	get 0.0012% / 1h	16m 17s	$284K	$576K	8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Kraken Futures. 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 Kraken FuturesbpFee LighterbpOrdersPrice spread, now −0.040%Rate

Funding earned: −$4.38
Price spread: −0.040% → +0.002%: −$4.24
Slippage, 4 orders: −$52.75
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$71.37
Costs to cover: 0.627%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 2 min ago; Lighter: live order book, 44 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 Kraken Futures live order book, 2 min ago	9.98 bp	20.8 bp −$21	54.1 bp −$541	doesn't fit	doesn't fit
Sell Lighter live order book, 44 min ago	5.77 bp	10.3 bp −$10	66.3 bp −$663	doesn't fit	doesn't fit

POL on 24 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	−0.0312%	1h	0.1099	−0.275%	$202K	$203K	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1101	−0.057%	$3K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1102	−0.022%	$17K	$4K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1102	0.000%	$24K	—	150x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+0.813%	$3K	$124K	12x	as long as short
Orderly PERP_POL_USDC	+0.0041%	4h	0.1101	−0.067%	$11K	$320K	20x	as long as short
Lighter POLshort	+0.0096%	1h	0.1102	−0.040%	$284K	$576K	8x
Aster POLUSDT	+0.0100%	4h	0.1102	+0.037%	$366K	$276K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1101	−0.067%	$17.1M	$43.7M	75x	as long as short
Bybit POLUSDT	+0.0100%	4h	0.1101	−0.121%	$15.9M	$12.3M	75x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX POL-USDT-SWAP	+0.0100%	4h	0.1101	−0.076%	$5.7M	$10.3M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1101	−0.121%	$1.8M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1101	−0.058%	$23.8M	$3.6M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1102	−0.030%	$2.9M	$998K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1102	−0.003%	$4.2M	$4.9M	50x	as long as short
BingX POL-USDC	+0.0100%	4h	0.1101	−0.067%	—	$1.7M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1102	−0.013%	$610K	$224K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1102	+0.003%	$1.1M	$2.8M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1103	+0.088%	$195K	$637K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1101	−0.075%	$95K	$446K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1100	−0.179%	$40K	—	3x	as long as short
Kraken Futures PF_POLUSDlong	+0.0117%	1h	0.1102	long leg	$1.2M	$1.2M	50x
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1102	+0.004%	$3K	—	100x	as long as short
Hyperliquid POL	+0.0229%	1h	0.1104	+0.142%	$7.4M	$3.8M	5x	as long as short