Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0399%/8h= −43.7% APRpaid last 24h −0.049%

Price spread now: Kraken Futures against OKX+0.075%7-day average +0.066% · you sell dearer than you buy

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$640.639% of the position

Long on OKX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.105%−$11 on $10k

Price spread, last 4 days (all we have)−0.122%−$12 · spread now +0.075%, 7d avg +0.066%

Together, before fees−0.227%−$23 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.066%, so right now this pair is about funding alone: −$12 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.105% in total (about -5.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX POL-USDT-SWAP	0.1094	0.0020	pay 0.0010% / 4h	1h 17m	$5.7M	$9.4M	50x
Short	Kraken Futures PF_POLUSD	0.1095	−0.0379	pay 0.0047% / 1h	17m 14s	$1.2M	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.075%Rate

Funding earned: −$83.8
Price spread: +0.075% → +0.066%: $0.91
Slippage, 4 orders: −$43.89
Fee OKX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$146.78
Costs to cover: 0.639%
Break-even: never at this rate

Slippage from OKX: live order book, 6 min ago; Kraken Futures: live order book, 1 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 OKX live order book, 6 min ago	0.91 bp	11.1 bp −$11	50.7 bp −$507	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 1 min ago	6.85 bp	21.4 bp −$21	49.2 bp −$492	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	−0.567%	$201K	$199K	50x	as long as short
Kraken Futures PF_POLUSDshort	−0.0379%	1h	0.1095	+0.075%	$1.2M	$1.0M	50x
Gate POL_USDT	−0.0316%	4h	0.1094	−0.037%	$1.8M	$1.3M	75x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1094	−0.011%	$3K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1095	+0.057%	$19K	$3K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0003% / S −0.0001%	1h	0.1095	+0.080%	$12K	—	150x	as long as short
Orderly PERP_POL_USDC	+0.0015%	4h	0.1095	+0.037%	$11K	$1.4M	20x	as long as short
OKX POL-USDT-SWAPlong	+0.0020%	4h	0.1094	long leg	$5.7M	$9.4M	50x
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+1.535%	$3K	$124K	12x	as long as short
Lighter POL	+0.0096%	1h	0.1094	+0.011%	$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	+0.155%	$7.4M	$3.7M	5x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1095	+0.060%	$363K	$174K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1094	−0.018%	$16.7M	$37.0M	75x	as long as short
Bybit POLUSDT	+0.0100%	4h	0.1094	−0.009%	$15.7M	$9.8M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1095	+0.027%	$24.7M	$3.3M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1095	+0.046%	$2.9M	$938K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1095	+0.091%	$4.1M	$4.0M	50x	as long as short
BingX POL-USDT	+0.0100%	4h	0.1094	+0.009%	—	$7.2M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1093	−0.072%	$604K	$166K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1094	−0.026%	$1.1M	$2.8M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1093	−0.110%	$194K	$640K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1094	−0.035%	$94K	$235K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1093	−0.108%	$40K	—	3x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1095	+0.061%	$3K	—	100x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1095	+0.037%	$897K	$149K	75x	as long as short