Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.008%

Price spread now: Lighter against Binance−0.003%7-day average +0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$400.404% of the position

Long on Binance Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.251%+$25 on $10k

Price spread, last 4 days (all we have)+0.037%+$4 · spread now −0.003%, 7d avg +0.051%

Together, before fees+0.288%+ Points / potential airdropLighter: Season 3 · farm board+$29 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 0.054% cheaper against Binance than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.051%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance POLUSDT	0.1126	0.0100	pay 0.0050% / 4h	1h 19m	$17.4M	$51.6M	75x
Short	Lighter POL	0.1126	0.0096	get 0.0012% / 1h	19m 26s	$306K	$572K	8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Binance. 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 BinancebpFee LighterbpOrdersPrice spread, now −0.003%Rate

Funding earned: −$0.84
Price spread: −0.003% → +0.051%: −$5.42
Slippage, 4 orders: −$30.37
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$46.63
Costs to cover: 0.404%
Break-even: never at this rate

Slippage from Binance: live order book, 8 min ago; Lighter: live order book, 56 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 Binance live order book, 8 min ago	0.44 bp	10.1 bp −$10	25.9 bp −$259	183.6 bp −$18.4K	doesn't fit
Sell Lighter live order book, 56 min ago	6.24 bp	10.7 bp −$11	74.1 bp −$741	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
Injective POL/USDC PERP	−0.0162%	1h	0.1111	−1.370%	$3K	$124K	12x	as long as short
Coinbase International POL-PERP-INTX	−0.0128%	1h	0.1126	−0.039%	$206K	$237K	50x	as long as short
Kraken Futures PF_POLUSD	−0.0071%	1h	0.1126	−0.002%	$1.2M	$1.8M	50x	as long as short
Orderly PERP_POL_USDC	−0.0016%	4h	0.1126	−0.074%	$11K	$199K	20x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1126	−0.034%	$3K	—	—	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1127	+0.051%	$24K	—	150x	as long as short
dYdX POL-USD	+0.0004%	1h	0.1126	−0.025%	$17K	$3K	5x	as long as short
Lighter POLshort	+0.0096%	1h	0.1126	−0.003%	$306K	$572K	8x
Aster POLUSDT	+0.0100%	4h	0.1127	+0.041%	$376K	$360K	20x	as long as short
Binance POLUSDTlong	+0.0100%	4h	0.1126	long leg	$17.4M	$51.6M	75x

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit POLUSDT	+0.0100%	4h	0.1126	−0.056%	$16.2M	$15.7M	75x	as long as short
OKX POL-USDT-SWAP	+0.0100%	4h	0.1126	−0.074%	$5.8M	$12.1M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1126	−0.021%	$1.9M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1127	+0.015%	$23.8M	$3.9M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1127	+0.024%	$2.8M	$1.1M	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1126	−0.039%	$4.2M	$5.9M	50x	as long as short
BingX POL-USDT	+0.0100%	4h	0.1126	−0.021%	—	$7.2M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1126	−0.082%	$665K	$193K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1126	−0.065%	$1.1M	$3.3M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1127	+0.050%	$199K	$657K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1126	−0.050%	$94K	$427K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1124	−0.172%	$41K	—	3x	as long as short
Hyperliquid POL	+0.0209%	1h	0.1129	+0.210%	$7.6M	$4.6M	5x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0211% / S −0.0606%	1h	0.1127	+0.036%	$3K	—	100x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1128	+0.130%	$917K	$171K	75x	as long as short