Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.019%

Price spread now: Lighter against Gate−0.115%7-day average +0.092% · you buy dearer than you sell

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$84as in the Price arb table

costs, in and out, $10k−$630.630% of the position

Long on Gate Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.137%+$14 on $10k

Price spread, last 4 days (all we have)+0.246%+$25 · spread now −0.115%, 7d avg +0.092%

Together, before fees+0.383%+ Points / potential airdropLighter: Season 3 · farm board+$38 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.207% cheaper against Gate than usual: you would sell low and buy high, −$21 on $10k if it goes back to its 7-day average of +0.092%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate POL_USDT	0.1127	0.0100	pay 0.0050% / 4h	1h 28m	$1.9M	$1.3M	75x
Short	Lighter POL	0.1126	0.0096	get 0.0012% / 1h	28m 18s	$306K	$572K	8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Gate. 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 GatebpFee LighterbpOrdersPrice spread, now −0.115%Rate

Funding earned: −$0.84
Price spread: −0.115% → +0.092%: −$20.74
Slippage, 4 orders: −$48.05
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter: 0 bp × 2 orders: $0
Net: −$84.62
Costs to cover: 0.630%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; Lighter: 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 Gate live order book, 4 min ago	4.89 bp	23.4 bp −$23	230.0 bp −$2,300	doesn't fit	doesn't fit
Sell Lighter live order book, 47 min ago	6.24 bp	10.7 bp −$11	74.1 bp −$741	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
Injective POL/USDC PERP	−0.0162%	1h	0.1111	−1.446%	$3K	$124K	12x	as long as short
Coinbase International POL-PERP-INTX	−0.0128%	1h	0.1127	−0.027%	$206K	$236K	50x	as long as short
Kraken Futures PF_POLUSD	−0.0071%	1h	0.1126	−0.121%	$1.2M	$1.8M	50x	as long as short
Orderly PERP_POL_USDC	−0.0018%	4h	0.1126	−0.115%	$11K	$199K	20x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1128	+0.052%	$3K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1129	+0.130%	$17K	$3K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0006%	1h	0.1129	+0.108%	$22K	—	150x	as long as short
Lighter POLshort	+0.0096%	1h	0.1126	−0.115%	$306K	$572K	8x
Aster POLUSDT	+0.0100%	4h	0.1129	+0.143%	$375K	$357K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1126	−0.084%	$17.4M	$51.7M	75x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit POLUSDT	+0.0100%	4h	0.1125	−0.160%	$16.2M	$15.9M	75x	as long as short
OKX POL-USDT-SWAP	+0.0100%	4h	0.1126	−0.133%	$5.8M	$12.1M	50x	as long as short
Gate POL_USDTlong	+0.0100%	4h	0.1127	long leg	$1.9M	$1.3M	75x
MEXC POL_USDT	+0.0100%	4h	0.1126	−0.098%	$23.8M	$3.8M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1127	−0.027%	$2.8M	$1.1M	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1126	−0.115%	$4.2M	$5.9M	50x	as long as short
BingX POL-USDC	+0.0100%	4h	0.1128	+0.080%	—	$1.6M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1125	−0.221%	$665K	$193K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1125	−0.160%	$1.1M	$3.3M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1127	−0.027%	$199K	$659K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1127	+0.007%	$94K	$427K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1127	−0.071%	$41K	—	3x	as long as short
Hyperliquid POL	+0.0188%	1h	0.1131	+0.302%	$7.7M	$4.6M	5x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0211% / S −0.0606%	1h	0.1128	+0.069%	$3K	—	100x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1126	−0.142%	$910K	$170K	75x	as long as short