Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0164%/8h= −18.0% APRpaid last 24h −0.103%

Price spread now: Orderly against GMX−0.059%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 Orderly

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 −$5 a day on $10k at the current rate, and Orderly is 0.059% cheaper against GMX than usual: you would sell low and buy high (−$6 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]	0.1102	L +0.0210% / S −0.0388%	pay 0.0026% / 1h	58m 07s	$3K	—	100x
Short	Orderly PERP_POL_USDC	0.1101	0.0046	get 0.0023% / 4h	1h 58m	$11K	$304K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.059%Rate

Funding earned: −$34.44
Price spread: −0.059% → 0.000%: −$5.9
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$58.33
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Orderly: 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 GMX no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

GMX and Orderly: 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 24 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	−0.0464%	1h	0.1099	−0.259%	$202K	$201K	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1101	−0.050%	$3K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1103	+0.086%	$17K	$1K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1102	+0.032%	$24K	—	150x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+0.830%	$3K	$124K	12x	as long as short
Orderly PERP_POL_USDCshort	+0.0046%	4h	0.1101	−0.059%	$11K	$304K	20x
Lighter POL	+0.0096%	1h	0.1102	+0.016%	$285K	$564K	8x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1102	+0.055%	$366K	$276K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1101	−0.087%	$17.1M	$42.5M	75x	as long as short
Bybit POLUSDT	+0.0100%	4h	0.1100	−0.141%	$15.9M	$11.8M	75x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX POL-USDT-SWAP	+0.0100%	4h	0.1099	−0.231%	$5.7M	$10.1M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1102	−0.023%	$1.8M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1101	−0.032%	$23.8M	$3.5M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1102	−0.014%	$2.9M	$969K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1101	−0.050%	$4.2M	$4.7M	50x	as long as short
BingX POL-USDT	+0.0100%	4h	0.1101	−0.050%	—	$7.2M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1102	−0.031%	$610K	$209K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1102	+0.006%	$1.1M	$2.7M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1103	+0.104%	$195K	$634K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1100	−0.126%	$92K	$446K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1100	−0.154%	$40K	—	3x	as long as short
Hyperliquid POL	+0.0134%	1h	0.1103	+0.135%	$7.4M	$3.7M	5x	as long as short
GMX POL/USD [ETH-USDC]long	L +0.0210% / S −0.0388%	1h	0.1102	long leg	$3K	—	100x
Kraken Futures PF_POLUSD	+0.0260%	1h	0.1103	+0.079%	$1.2M	$1.2M	50x	as long as short