Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0194%/8h= +21.2% APRpaid last 24h +0.152%

Price spread now: GMX against Bybit+0.288%191s7-day average — · you sell dearer than you buy

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

Long on Bybit Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and GMX is 0.288% dearer against Bybit than usual: you sell high and buy low: +$29 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 191 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit POLUSDT	0.1099	0.0100	pay 0.0050% / 4h	2h 58m	$15.8M	$9.1M	75x
Short	GMX POL/USD [ETH-USDC]	0.1102	L +0.0164% / S −0.0294%	get 0.0037% / 1h	58m 12s	$3K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.288%Rate

Funding earned: $40.71
Price spread: +0.288% → 0.000%: $28.84
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GMX: 6 bp × 2 orders: −$12
Net: $46.55
Costs to cover: 0.230%
Break-even: from the start

Slippage unknown: Bybit: live order book, just now; GMX: no order-book sample. 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 Bybit live order book, just now	0.46 bp	11.5 bp −$11	34.3 bp −$343	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0584%	1h	0.1098	−0.100%	$200K	$180K	50x	as long as short
Kraken Futures PF_POLUSD	−0.0351%	1h	0.1101	+0.143%	$1.2M	$994K	50x	as long as short
Gate POL_USDT	−0.0208%	4h	0.1100	+0.036%	$1.8M	$1.1M	75x	as long as short
Orderly PERP_POL_USDC	−0.0122%	4h	0.1100	+0.055%	$11K	$2.5M	20x	as long as short
OKX POL-USDT-SWAP	−0.0052%	4h	0.1100	+0.045%	$5.7M	$9.0M	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1099	+0.025%	$3K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1101	+0.171%	$23K	$8K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0003% / S −0.0003%	1h	0.1102	+0.245%	$9K	—	150x	as long as short
GRVT POL_USDT_Perp	+0.0004%	4h	0.1101	+0.173%	$1.1M	$2.8M	10x	as long as short
Extended POL-USD	+0.0016%	1h	0.1099	+0.015%	$94K	$521K	10x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance POLUSDT	+0.0018%	4h	0.1099	+0.028%	$16.8M	$34.3M	75x	as long as short
MEXC POL_USDT	+0.0020%	4h	0.1100	+0.036%	$25.3M	$3.3M	125x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+1.083%	$3K	$124K	12x	as long as short
Lighter POL	+0.0048%	1h	0.1100	+0.073%	$269K	$502K	8x	as long as short
ApeX Omni POLUSDT	+0.0074%	1h	0.1101	+0.173%	$156K	$663K	50x	as long as short
BloFin POL-USDT	+0.0081%	4h	0.1100	+0.055%	$897K	$143K	75x	as long as short
Aevo POL-PERP	+0.0088%	1h	0.1099	−0.055%	$40K	—	3x	as long as short
Hyperliquid POL	+0.0100%	1h	0.1102	+0.237%	$7.4M	$3.6M	5x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1101	+0.200%	$370K	$172K	20x	as long as short
Bybit POLUSDTlong	+0.0100%	4h	0.1099	long leg	$15.8M	$9.1M	75x
KuCoin POLUSDTM	+0.0100%	4h	0.1100	+0.118%	$2.9M	$782K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1099	+0.009%	$4.0M	$3.7M	50x	as long as short
BingX POL-USDC	+0.0100%	4h	0.1100	+0.073%	—	$1.6M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1100	+0.095%	$609K	$167K	—	as long as short
GMX POL/USD [ETH-USDC]short	L +0.0164% / S −0.0294%	1h	0.1102	+0.288%	$3K	—	100x