Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0468%/8h= +51.3% APRpaid last 24h +0.150%

Price spread now: GMX against OKX+0.021%162s7-day average — · you sell dearer than you buy

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

Long on OKX Short on GMX

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

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and GMX is 0.021% dearer against OKX than usual: you sell high and buy low: +$2 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 162 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	OKX POL-USDT-SWAP	0.1090	−0.0080	get 0.0040% / 4h	12m 37s	$5.7M	$9.3M	50x
Short	GMX POL/USD [ETH-USDC]	0.1091	L +0.0210% / S −0.0388%	get 0.0049% / 1h	12m 37s	$3K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against OKX. 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 OKXbpFee GMXbpOrdersPrice spread, now +0.021%Rate

Funding earned: $98.38
Price spread: +0.021% → 0.000%: $2.11
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $78.49
Costs to cover: 0.220%
Break-even: 1.4 days

Slippage unknown: OKX: live order book, 5 min ago; GMX: no order-book sample. 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 OKX live order book, 5 min ago	0.92 bp	11.4 bp −$11	51.0 bp −$510	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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	−0.303%	$201K	$176K	50x	as long as short
Gate POL_USDT	−0.0250%	4h	0.1090	−0.009%	$1.8M	$1.3M	75x	as long as short
Kraken Futures PF_POLUSD	−0.0233%	1h	0.1092	+0.133%	$1.1M	$996K	50x	as long as short
OKX POL-USDT-SWAPlong	−0.0080%	4h	0.1090	long leg	$5.7M	$9.3M	50x
Orderly PERP_POL_USDC	−0.0048%	4h	0.1090	+0.018%	$11K	$2.0M	20x	as long as short
ApeX Omni POLUSDT	−0.0022%	1h	0.1091	+0.064%	$194K	$642K	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1090	+0.007%	$2K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1092	+0.118%	$19K	$3K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0003% / S −0.0003%	1h	0.1091	+0.099%	$9K	—	150x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+1.899%	$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
GRVT POL_USDT_Perp	+0.0042%	4h	0.1090	−0.026%	$1.1M	$2.9M	10x	as long as short
Bybit POLUSDT	+0.0047%	4h	0.1090	−0.028%	$15.7M	$9.6M	75x	as long as short
Lighter POL	+0.0096%	1h	0.1091	+0.028%	$276K	$544K	8x	as long as short
Extended POL-USD	+0.0096%	1h	0.1090	−0.018%	$91K	$518K	10x	as long as short
MEXC POL_USDT	+0.0096%	4h	0.1090	0.000%	$24.9M	$3.4M	125x	as long as short
Binance POLUSDT	+0.0096%	4h	0.1091	+0.028%	$16.6M	$36.3M	75x	as long as short
Hyperliquid POL	+0.0100%	1h	0.1092	+0.182%	$7.4M	$3.7M	5x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1092	+0.111%	$362K	$167K	20x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1091	+0.037%	$2.9M	$918K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1091	+0.064%	$4.0M	$3.9M	50x	as long as short
BingX POL-USDT	+0.0100%	4h	0.1090	−0.009%	—	$7.2M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1090	−0.061%	$602K	$166K	—	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1089	−0.112%	$40K	—	3x	as long as short
GMX POL/USD [ETH-USDC]short	L +0.0210% / S −0.0388%	1h	0.1091	+0.021%	$3K	—	100x
BloFin POL-USDT	+0.0336%	4h	0.1091	+0.046%	$898K	$146K	75x	as long as short