Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0412%/8h= −45.1% APRpaid last 24h −0.160%

Price spread now: Coinbase International against Bybit−0.100%7-day average −0.352% · you buy dearer than you sell

Net, funding: paid 7d − costs−$871as in the Funding arb table

Net, price: spread back to 7d avg − costs−$795as in the Price arb table

costs, in and out, $10k−$8208.200% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.505%−$51 on $10k

Price spread, last 3 days (all we have)−0.851%−$85 · spread now −0.100%, 7d avg −0.352%

Together, before fees−1.357%−$136 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.253% dearer against Bybit than usual: you sell high and buy low (spread −0.100% now, against its 7-day average of −0.352%): +$25 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 2.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit POLUSDT	0.1102	0.0100	pay 0.0050% / 4h	2h 21m	$16.0M	$12.3M	75x
Short	Coinbase International POL-PERP-INTX	0.1101	−0.0312	pay 0.0039% / 1h	21m 08s	$203K	$204K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bybit. 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 BybitbpFee Coinbase InternationalbpOrdersPrice spread, now −0.100%Rate

Funding earned: −$86.52
Price spread: −0.100% → −0.352%: $25.26
Slippage, 4 orders: −$798.97
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$881.23
Costs to cover: 8.200%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Coinbase International: live order book, 47 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 Bybit live order book, 2 min ago	1.36 bp	14.6 bp −$15	35.9 bp −$359	doesn't fit	doesn't fit
Sell Coinbase International live order book, 47 min ago	13.38 bp	76.4 bp −$76	doesn't fit	doesn't fit	doesn't fit

POL on 23 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-INTXshort	−0.0312%	1h	0.1101	−0.100%	$203K	$204K	50x
Reya POLRUSDPERP	−0.0006%	1h	0.1103	+0.039%	$3K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1104	+0.143%	$17K	$4K	5x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+0.808%	$3K	$124K	12x	as long as short
Orderly PERP_POL_USDC	+0.0039%	4h	0.1102	+0.027%	$11K	$324K	20x	as long as short
Lighter POL	+0.0096%	1h	0.1103	+0.088%	$285K	$576K	8x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1104	+0.171%	$367K	$276K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1103	+0.045%	$17.1M	$43.9M	75x	as long as short
Bybit POLUSDTlong	+0.0100%	4h	0.1102	long leg	$16.0M	$12.3M	75x
OKX POL-USDT-SWAP	+0.0100%	4h	0.1102	+0.027%	$5.7M	$10.4M	50x	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate POL_USDT	+0.0100%	4h	0.1103	+0.045%	$1.8M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1102	+0.027%	$23.8M	$3.6M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1104	+0.154%	$2.9M	$999K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1103	+0.118%	$4.2M	$4.9M	50x	as long as short
BingX POL-USDC	+0.0100%	4h	0.1103	+0.054%	—	$1.7M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1107	+0.433%	$612K	$224K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1104	+0.167%	$1.1M	$2.8M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1103	+0.082%	$195K	$637K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1102	+0.036%	$96K	$446K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1101	−0.065%	$40K	—	3x	as long as short
Kraken Futures PF_POLUSD	+0.0117%	1h	0.1103	+0.127%	$1.2M	$1.2M	50x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1103	+0.100%	$3K	—	100x	as long as short
Hyperliquid POL	+0.0224%	1h	0.1105	+0.263%	$7.4M	$3.8M	5x	as long as short