Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0252%/8h= +27.6% APRpaid last 24h +0.169%

Price spread now: Bybit against Coinbase International+0.600%7-day average +0.355% · you sell dearer than you buy

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$860.862% of the position

Long on Coinbase International Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.496%+$50 on $10k

Price spread, last 3 days (all we have)+0.501%+$50 · spread now +0.600%, 7d avg +0.355%

Together, before fees+0.997%+$100 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Bybit is 0.245% dearer against Coinbase International than usual: you sell high and buy low: +$25 more if the spread goes back to its 7-day average of +0.355%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International POL-PERP-INTX	0.1116	−0.0152	get 0.0019% / 1h	9m 45s	$204K	$199K	50x
Short	Bybit POLUSDT	0.1123	0.0100	get 0.0050% / 4h	3h 09m	$16.2M	$12.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.600%Rate

Funding earned: $52.92
Price spread: +0.600% → +0.355%: $24.54
Slippage, 4 orders: −$65.17
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$8.7
Costs to cover: 0.862%
Break-even: 8.2 days

Slippage from Coinbase International: live order book, 63 min ago; Bybit: live order book, 4 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, 63 min ago	8.92 bp	22.6 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	1.33 bp	20.0 bp −$20	41.6 bp −$416	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
Kraken Futures PF_POLUSD	−0.0239%	1h	0.1124	+0.721%	$1.2M	$1.3M	50x	as long as short
Coinbase International POL-PERP-INTXlong	−0.0152%	1h	0.1116	long leg	$204K	$199K	50x
Reya POLRUSDPERP	−0.0006%	1h	0.1123	+0.657%	$3K	—	—	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1124	+0.739%	$24K	—	150x	as long as short
dYdX POL-USD	+0.0016%	1h	0.1124	+0.674%	$17K	$4K	5x	as long as short
Orderly PERP_POL_USDC	+0.0027%	4h	0.1124	+0.672%	$11K	$161K	20x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	−0.448%	$3K	$124K	12x	as long as short
Lighter POL	+0.0096%	1h	0.1124	+0.689%	$290K	$593K	8x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1123	+0.632%	$373K	$303K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1123	+0.636%	$17.3M	$44.0M	75x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit POLUSDTshort	+0.0100%	4h	0.1123	+0.600%	$16.2M	$12.9M	75x
OKX POL-USDT-SWAP	+0.0100%	4h	0.1123	+0.627%	$5.8M	$10.5M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1122	+0.565%	$1.9M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1124	+0.672%	$24.3M	$3.7M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1123	+0.654%	$3.0M	$973K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1124	+0.690%	$4.2M	$4.8M	50x	as long as short
BingX POL-USDT	+0.0100%	4h	0.1123	+0.627%	—	$7.2M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1121	+0.490%	$621K	$224K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1125	+0.789%	$1.1M	$2.8M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1127	+0.986%	$199K	$646K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1123	+0.641%	$94K	$449K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1122	+0.521%	$41K	—	3x	as long as short
Hyperliquid POL	+0.0189%	1h	0.1125	+0.851%	$7.6M	$3.9M	5x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0217% / S −0.0750%	1h	0.1124	+0.733%	$3K	—	100x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1127	+0.986%	$911K	$161K	75x	as long as short