Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0177%/8h= −19.4% APRpaid last 24h −0.055%

Price spread now: OKX against Hyperliquid−0.118%7-day average −0.084% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$580.581% of the position

Long on Hyperliquid Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.308%−$31 on $10k

Price spread, last 7 days+0.148%+$15 · spread now −0.118%, 7d avg −0.084%

Together, before fees−0.160%+ Points / potential airdropHyperliquid: Season 2 · farm board−$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and OKX is 0.034% cheaper against Hyperliquid than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.084%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid POL	0.1103	0.0100	pay 0.0013% / 1h	12m 45s	$7.4M	$3.7M	5x
Short	OKX POL-USDT-SWAP	0.1102	−0.0077	pay 0.0038% / 4h	3h 12m	$5.7M	$9.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Hyperliquid. 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 HyperliquidbpFee OKXbpOrdersPrice spread, now −0.118%Rate

Funding earned: −$37.15
Price spread: −0.118% → −0.084%: −$3.36
Slippage, 4 orders: −$39.11
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: −$98.62
Costs to cover: 0.581%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 9 min ago; OKX: live order book, 5 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 Hyperliquid live order book, 9 min ago	0.91 bp	15.8 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	0.46 bp	11.1 bp −$11	52.6 bp −$526	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
Coinbase International POL-PERP-INTX	−0.0600%	1h	0.1100	−0.263%	$200K	$181K	50x	as long as short
Kraken Futures PF_POLUSD	−0.0471%	1h	0.1102	−0.123%	$1.2M	$994K	50x	as long as short
Gate POL_USDT	−0.0232%	4h	0.1101	−0.145%	$1.8M	$1.2M	75x	as long as short
Orderly PERP_POL_USDC	−0.0116%	4h	0.1101	−0.190%	$11K	$2.4M	20x	as long as short
OKX POL-USDT-SWAPshort	−0.0077%	4h	0.1102	−0.118%	$5.7M	$9.2M	50x
GRVT POL_USDT_Perp	−0.0030%	4h	0.1103	+0.035%	$1.1M	$2.9M	10x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1101	−0.193%	$3K	—	—	as long as short
ApeX Omni POLUSDT	−0.0006%	1h	0.1105	+0.190%	$156K	$661K	50x	as long as short
gTrade (Gains Network) POL/USD	L +0.0003% / S −0.0003%	1h	0.1102	−0.085%	$9K	—	150x	as long as short
MEXC POL_USDT	+0.0004%	4h	0.1101	−0.136%	$25.3M	$3.4M	125x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance POLUSDT	+0.0005%	4h	0.1101	−0.154%	$16.8M	$35.1M	75x	as long as short
Extended POL-USD	+0.0008%	1h	0.1101	−0.198%	$92K	$521K	10x	as long as short
Bybit POLUSDT	+0.0013%	4h	0.1101	−0.172%	$15.8M	$9.3M	75x	as long as short
BloFin POL-USDT	+0.0022%	4h	0.1101	−0.199%	$893K	$145K	75x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+0.734%	$3K	$124K	12x	as long as short
Aevo POL-PERP	+0.0080%	1h	0.1101	−0.127%	$40K	—	3x	as long as short
Lighter POL	+0.0096%	1h	0.1101	−0.145%	$272K	$544K	8x	as long as short
Variational Omni POL	+0.0100%	4h	0.1101	−0.155%	$609K	$167K	—	as long as short
Hyperliquid POLlong	+0.0100%	1h	0.1103	long leg	$7.4M	$3.7M	5x
Aster POLUSDT	+0.0100%	4h	0.1102	−0.054%	$365K	$172K	20x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1101	−0.172%	$2.9M	$812K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1101	−0.154%	$4.0M	$3.7M	50x	as long as short
BingX POL-USDT	+0.0100%	4h	0.1101	−0.190%	—	$7.1M	—	as long as short
dYdX POL-USD	+0.0136%	1h	0.1103	+0.001%	$23K	$8K	5x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0164% / S −0.0294%	1h	0.1102	−0.106%	$3K	—	100x	as long as short