Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0684%/8h= −74.9% APRpaid last 24h −0.149%

Price spread now: Coinbase International against BingX−0.293%7-day average −0.355% · you buy dearer than you sell

Net, funding: paid 7d − costs−$244as in the Funding arb table

Net, price: spread back to 7d avg − costs−$170as in the Price arb table

costs, in and out, $10k−$1761.764% of the position

Long on BingX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.675%−$67 on $10k

Price spread, last 4 days (all we have)−1.450%−$145 · spread now −0.293%, 7d avg −0.355%

Together, before fees−2.125%−$213 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.062% dearer against BingX than usual: you sell high and buy low (spread −0.293% now, against its 7-day average of −0.355%): +$6 on $10k if it goes back. Holding the pair costs −$21 a day in funding at the current rate, which eats that in about 7 hours. At the pace of the last 7 days (−0.675% in total) that is about 15 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX POL-USDT	0.1093	0.0100	pay 0.0050% / 4h	2h 20m	—	$7.1M	—
Short	Coinbase International POL-PERP-INTX	0.1090	−0.0584	pay 0.0073% / 1h	20m 11s	$198K	$168K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against BingX. 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 BingXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.293%Rate

Funding earned: −$143.64
Price spread: −0.293% → −0.355%: $6.18
Slippage, 4 orders: −$156.41
Fee BingX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$313.87
Costs to cover: 1.764%
Break-even: never at this rate

Slippage from BingX: live order book, 11 min ago; Coinbase International: live order book, 30 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 BingX live order book, 11 min ago	1.83 bp	13.6 bp −$14	27.8 bp −$278	101.7 bp −$10.2K	517.9 bp −$259.0K
Sell Coinbase International live order book, 30 min ago	13.70 bp	131.4 bp −$131	doesn't fit	doesn't fit	doesn't fit

POL on 25 exchanges

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-INTXshort	−0.0584%	1h	0.1090	−0.293%	$198K	$168K	50x
Kraken Futures PF_POLUSD	−0.0354%	1h	0.1093	+0.006%	$1.2M	$980K	50x	as long as short
Orderly PERP_POL_USDC	−0.0162%	4h	0.1093	−0.055%	$10K	$2.6M	20x	as long as short
Gate POL_USDT	−0.0156%	4h	0.1093	−0.046%	$1.8M	$1.2M	75x	as long as short
GRVT POL_USDT_Perp	−0.0052%	4h	0.1093	+0.023%	$1.1M	$2.8M	10x	as long as short
OKX POL-USDT-SWAP	−0.0050%	4h	0.1093	−0.046%	$5.7M	$8.7M	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1092	−0.071%	$2K	—	—	as long as short
gTrade (Gains Network) POL/USD	L +0.0003% / S −0.0003%	1h	0.1094	+0.094%	$9K	—	150x	as long as short
MEXC POL_USDT	+0.0012%	4h	0.1093	−0.055%	$25.1M	$3.3M	125x	as long as short
dYdX POL-USD	+0.0015%	1h	0.1094	+0.044%	$24K	$9K	5x	as long as short

Show all 25 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance POLUSDT	+0.0016%	4h	0.1092	−0.064%	$16.7M	$33.5M	75x	as long as short
Extended POL-USD	+0.0016%	1h	0.1092	−0.080%	$91K	$526K	10x	as long as short
ApeX Omni POLUSDT	+0.0027%	1h	0.1092	−0.110%	$154K	$665K	50x	as long as short
Bitget POLUSDT	+0.0030%	4h	0.1094	+0.055%	$4.0M	$3.6M	50x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+1.628%	$3K	$124K	12x	as long as short
BloFin POL-USDT	+0.0055%	4h	0.1094	+0.046%	$898K	$136K	75x	as long as short
Aevo POL-PERP	+0.0088%	1h	0.1091	−0.156%	$40K	—	3x	as long as short
Lighter POL	+0.0096%	1h	0.1093	−0.024%	$267K	$502K	8x	as long as short
Hyperliquid POL	+0.0100%	1h	0.1094	+0.091%	$7.4M	$3.5M	5x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1093	−0.037%	$367K	$168K	20x	as long as short
Bybit POLUSDT	+0.0100%	4h	0.1093	−0.046%	$15.7M	$9.1M	75x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1094	+0.037%	$2.8M	$747K	50x	as long as short
BingX POL-USDTlong	+0.0100%	4h	0.1093	long leg	—	$7.1M	—
Variational Omni POL	+0.0100%	4h	0.1093	−0.053%	$605K	$164K	—	as long as short
GMX POL/USD [ETH-USDC]	L +0.0164% / S −0.0294%	1h	0.1094	+0.049%	$3K	—	100x	as long as short