Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.004%

Price spread now: Lighter against Variational Omni+0.270%7-day average +0.102% · you sell dearer than you buy

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

Long on Variational Omni Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.004%$0 on $10k

Price spread, last 3 days (all we have)−0.227%−$23 · spread now +0.270%, 7d avg +0.102%

Together, before fees−0.231%+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm board−$23 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.168% dearer against Variational Omni than usual: you sell high and buy low, +$17 on $10k if it goes back to its 7-day average of +0.102%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni POL	0.1118	0.0100	pay 0.0050% / 4h	26m 26s	$660K	$183K	—
Short	Lighter POL	0.1121	0.0096	get 0.0012% / 1h	26m 26s	$299K	$572K	8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee LighterbpOrdersPrice spread, now +0.270%Rate

Funding earned: −$0.84
Price spread: +0.270% → +0.102%: $16.85
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: $16.01
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 53 min ago; Lighter: live order book, 44 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 Variational Omni RFQ quote, 53 min ago	4.44 bp	doesn't fit	40.0 bp −$400	doesn't fit	doesn't fit
Sell Lighter live order book, 44 min ago	5.39 bp	10.2 bp −$10	66.9 bp −$669	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	−0.0128%	1h	0.1117	−0.073%	$204K	$224K	50x	as long as short
Kraken Futures PF_POLUSD	−0.0072%	1h	0.1121	+0.307%	$1.2M	$1.8M	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1119	+0.127%	$3K	—	—	as long as short
dYdX POL-USD	+0.0002%	1h	0.1121	+0.284%	$17K	$3K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1120	+0.223%	$24K	—	150x	as long as short
Orderly PERP_POL_USDC	+0.0009%	4h	0.1120	+0.231%	$11K	$189K	20x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	−0.610%	$3K	$124K	12x	as long as short
Lighter POLshort	+0.0096%	1h	0.1121	+0.270%	$299K	$572K	8x
Aster POLUSDT	+0.0100%	4h	0.1122	+0.333%	$373K	$353K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1120	+0.213%	$17.2M	$50.1M	75x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit POLUSDT	+0.0100%	4h	0.1119	+0.096%	$16.1M	$15.3M	75x	as long as short
OKX POL-USDT-SWAP	+0.0100%	4h	0.1119	+0.141%	$5.8M	$11.8M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1120	+0.222%	$1.9M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1120	+0.222%	$24.3M	$3.9M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1121	+0.249%	$2.9M	$1.1M	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1120	+0.240%	$4.2M	$5.4M	50x	as long as short
BingX POL-USDC	+0.0100%	4h	0.1121	+0.249%	—	$1.6M	—	as long as short
Variational Omni POLlong	+0.0100%	4h	0.1118	long leg	$660K	$183K	—
GRVT POL_USDT_Perp	+0.0100%	4h	0.1119	+0.091%	$1.1M	$3.2M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1120	+0.195%	$198K	$654K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1121	+0.247%	$93K	$427K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1119	+0.097%	$41K	—	3x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0217% / S −0.0750%	1h	0.1121	+0.280%	$3K	—	100x	as long as short
Hyperliquid POL	+0.0285%	1h	0.1121	+0.320%	$7.6M	$4.0M	5x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1120	+0.213%	$912K	$169K	75x	as long as short