Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.038%

Price spread now: Bitget against Injective−1.593%81s7-day average +0.167% · you buy dearer than you sell

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

Long on Injective Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+1.420%+$142 on $10k

Price spread, last 4 days (all we have)+3.411%+$341 · spread now −1.593%, 7d avg +0.167%

Together, before fees+4.831%+$483 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 1.760% cheaper against Injective than usual: you would sell low and buy high (spread −1.593% now, against its 7-day average of +0.167%). If the spread goes back, that is −$176 on $10k: about 3 months of funding at the current rate (+$2 a day). At the pace of the last 7 days (+1.420% in total) that is about 8.7 days. The two prices were read 81 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective POL/USDC PERP	0.1111	0.0033	pay 0.0004% / 1h	57m 57s	$3K	$124K	12x
Short	Bitget POLUSDT	0.1093	0.0100	get 0.0050% / 4h	3h 57m	$4.0M	$3.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpFee BitgetbpOrdersPrice spread, now −1.593%Rate

Funding earned: $14
Price spread: −1.593% → +0.167%: −$175.97
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$173.99
Costs to cover: 0.120%
Break-even: 94.0 days

Slippage unknown: Injective: live order book, 61 min ago; Bitget: live order book, 5 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 Injective live order book, 61 min ago	78.02 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	1.83 bp	12.2 bp −$12	26.8 bp −$268	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
Bybit POLUSDT	−0.0657%	4h	0.1092	−1.665%	$15.7M	$9.5M	75x	as long as short
Coinbase International POL-PERP-INTX	−0.0600%	1h	0.1091	−1.800%	$202K	$177K	50x	as long as short
Kraken Futures PF_POLUSD	−0.0475%	1h	0.1094	−1.533%	$1.2M	$1.0M	50x	as long as short
OKX POL-USDT-SWAP	−0.0074%	4h	0.1093	−1.620%	$5.7M	$9.3M	50x	as long as short
Orderly PERP_POL_USDC	−0.0069%	4h	0.1094	−1.566%	$11K	$2.1M	20x	as long as short
ApeX Omni POLUSDT	−0.0039%	1h	0.1092	−1.710%	$194K	$641K	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1094	−1.544%	$3K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1095	−1.445%	$19K	$3K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0003% / S −0.0003%	1h	0.1095	−1.473%	$9K	—	150x	as long as short
Injective POL/USDC PERPlong	+0.0033%	1h	0.1111	long leg	$3K	$124K	12x

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT POL_USDT_Perp	+0.0034%	4h	0.1094	−1.519%	$1.1M	$2.9M	10x	as long as short
Binance POLUSDT	+0.0069%	4h	0.1093	−1.642%	$16.7M	$36.3M	75x	as long as short
Extended POL-USD	+0.0072%	1h	0.1092	−1.669%	$92K	$520K	10x	as long as short
MEXC POL_USDT	+0.0072%	4h	0.1094	−1.557%	$25.1M	$3.4M	125x	as long as short
Lighter POL	+0.0096%	1h	0.1093	−1.578%	$276K	$535K	8x	as long as short
Aevo POL-PERP	+0.0096%	1h	0.1093	−1.654%	$40K	—	3x	as long as short
Gate POL_USDT	+0.0098%	4h	0.1094	−1.566%	$1.8M	$1.2M	75x	as long as short
Hyperliquid POL	+0.0100%	1h	0.1095	−1.458%	$7.4M	$3.7M	5x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1094	−1.569%	$362K	$167K	20x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1095	−1.467%	$2.9M	$868K	50x	as long as short
Bitget POLUSDTshort	+0.0100%	4h	0.1093	−1.593%	$4.0M	$3.9M	50x
BingX POL-USDT	+0.0100%	4h	0.1094	−1.557%	—	$7.1M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1093	−1.615%	$604K	$166K	—	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1095	−1.469%	$3K	—	100x	as long as short
BloFin POL-USDT	+0.0293%	4h	0.1094	−1.521%	$894K	$146K	75x	as long as short