Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0812%/8h= +88.9% APRpaid last 24h +0.203%

Price spread now: BloFin against Coinbase International+0.542%58s7-day average +0.350% · you sell dearer than you buy

Net, funding: paid 7d − costs−$89as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1571.574% of the position

Long on Coinbase International Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.679%+$68 on $10k

Price spread, last 4 days (all we have)+0.314%+$31 · spread now +0.542%, 7d avg +0.350%

Together, before fees+0.993%+$99 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$24 a day on $10k at the current rate, and BloFin is 0.192% dearer against Coinbase International than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of +0.350%. The two prices were read 58 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	Coinbase International POL-PERP-INTX	0.1088	−0.0472	get 0.0059% / 1h	3m 28s	$201K	$194K	50x
Short	BloFin POL-USDT	0.1094	0.0340	get 0.0170% / 4h	1h 03m	$898K	$146K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Coinbase International. 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 Coinbase InternationalbpFee BloFinbpOrdersPrice spread, now +0.542%Rate

Funding earned: $170.52
Price spread: +0.542% → +0.350%: $19.25
Slippage, 4 orders: −$135.39
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $32.38
Costs to cover: 1.574%
Break-even: 5.7 days

Slippage from Coinbase International: live order book, 39 min ago; BloFin: live order book, 18 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 Coinbase International live order book, 39 min ago	13.74 bp	27.4 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 18 min ago	0.46 bp	18.7 bp −$19	28.5 bp −$285	81.7 bp −$8,170	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-INTXlong	−0.0472%	1h	0.1088	long leg	$201K	$194K	50x
Kraken Futures PF_POLUSD	−0.0379%	1h	0.1094	+0.529%	$1.2M	$994K	50x	as long as short
Gate POL_USDT	−0.0318%	4h	0.1093	+0.487%	$1.8M	$1.3M	75x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1093	+0.466%	$2K	—	—	as long as short
OKX POL-USDT-SWAP	−0.0002%	4h	0.1093	+0.478%	$5.7M	$9.3M	50x	as long as short
dYdX POL-USD	0.0000%	1h	0.1094	+0.533%	$19K	$3K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0003% / S −0.0001%	1h	0.1094	+0.550%	$12K	—	150x	as long as short
Orderly PERP_POL_USDC	+0.0006%	4h	0.1093	+0.496%	$11K	$1.5M	20x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+2.114%	$3K	$124K	12x	as long as short
ApeX Omni POLUSDT	+0.0089%	1h	0.1094	+0.551%	$194K	$640K	50x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter POL	+0.0096%	1h	0.1094	+0.554%	$277K	$543K	8x	as long as short
Hyperliquid POL	+0.0100%	1h	0.1095	+0.634%	$7.4M	$3.7M	5x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1094	+0.583%	$363K	$174K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1093	+0.484%	$16.7M	$36.5M	75x	as long as short
Bybit POLUSDT	+0.0100%	4h	0.1093	+0.478%	$15.7M	$9.6M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1093	+0.478%	$24.7M	$3.3M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1094	+0.551%	$2.9M	$918K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1094	+0.570%	$4.1M	$3.9M	50x	as long as short
BingX POL-USDC	+0.0100%	4h	0.1094	+0.551%	—	$1.7M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1094	+0.566%	$605K	$166K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1094	+0.515%	$1.1M	$2.8M	10x	as long as short
Extended POL-USD	+0.0104%	1h	0.1093	+0.495%	$94K	$235K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1092	+0.394%	$40K	—	3x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1094	+0.576%	$3K	—	100x	as long as short
BloFin POL-USDTshort	+0.0340%	4h	0.1094	+0.542%	$898K	$146K	75x