Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0111%/8h= −12.1% APRpaid last 24h −0.030%

Price spread now: KuCoin against GMX−0.024%7-day average — · you buy dearer than you sell

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

Long on GMX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 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 against this trade now: funding costs −$3 a day on $10k at the current rate, and KuCoin is 0.024% cheaper against GMX than usual: you would sell low and buy high (−$2 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX POL/USD [ETH-USDC]	0.1121	L +0.0211% / S −0.0606%	pay 0.0026% / 1h	32m 01s	$3K	—	100x
Short	KuCoin POLUSDTM	0.1121	0.0100	get 0.0050% / 4h	3h 32m	$2.8M	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against GMX. 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 GMXbpFee KuCoinbpOrdersPrice spread, now −0.024%Rate

Funding earned: −$23.26
Price spread: −0.024% → 0.000%: −$2.41
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$49.67
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; KuCoin: live order book, 15 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 15 min ago	4.04 bp	22.9 bp −$23	126.2 bp −$1,262	doesn't fit	doesn't fit

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
Kraken Futures PF_POLUSD	−0.0063%	1h	0.1122	+0.050%	$1.2M	$1.8M	50x	as long as short
Orderly PERP_POL_USDC	−0.0041%	4h	0.1121	−0.033%	$11K	$216K	20x	as long as short
Coinbase International POL-PERP-INTX	−0.0032%	1h	0.1116	−0.479%	$203K	$255K	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1121	−0.072%	$3K	—	—	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0006%	1h	0.1122	+0.026%	$22K	—	150x	as long as short
Injective POL/USDC PERP	+0.0012%	1h	0.1113	−0.746%	$3K	$73K	12x	as long as short
dYdX POL-USD	+0.0019%	1h	0.1122	+0.099%	$17K	$3K	5x	as long as short
OKX POL-USDT-SWAP	+0.0088%	4h	0.1121	−0.033%	$5.8M	$12.5M	50x	as long as short
Lighter POL	+0.0096%	1h	0.1122	+0.029%	$324K	$558K	8x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1121	−0.030%	$373K	$384K	20x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance POLUSDT	+0.0100%	4h	0.1121	−0.013%	$17.1M	$52.8M	75x	as long as short
Bybit POLUSDT	+0.0100%	4h	0.1121	−0.024%	$16.2M	$16.8M	75x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1122	+0.029%	$1.9M	$1.4M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1121	−0.015%	$23.5M	$4.0M	125x	as long as short
KuCoin POLUSDTMshort	+0.0100%	4h	0.1121	−0.024%	$2.8M	$1.1M	50x
Bitget POLUSDT	+0.0100%	4h	0.1122	+0.021%	$4.2M	$6.0M	50x	as long as short
BingX POL-USDT	+0.0100%	4h	0.1121	−0.015%	—	$7.3M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1119	−0.179%	$661K	$273K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1119	−0.184%	$1.1M	$3.5M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1119	−0.211%	$198K	$657K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1121	−0.030%	$93K	$447K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1122	+0.063%	$41K	—	3x	as long as short
Hyperliquid POL	+0.0138%	1h	0.1123	+0.154%	$7.6M	$4.7M	5x	as long as short
GMX POL/USD [ETH-USDC]long	L +0.0211% / S −0.0606%	1h	0.1121	long leg	$3K	—	100x
BloFin POL-USDT	+0.0340%	4h	0.1121	+0.012%	$915K	$183K	75x	as long as short