Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0307%/8h= +33.6% APRpaid last 24h +0.091%

Price spread now: BloFin against Injective−0.171%114s7-day average +0.272% · you buy dearer than you sell

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

Long on Injective Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+1.542%+$154 on $10k

Price spread, last 3 days (all we have)+1.755%+$175 · spread now −0.171%, 7d avg +0.272%

Together, before fees+3.297%+$330 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.443% cheaper against Injective than usual: you would sell low and buy high (spread −0.171% now, against its 7-day average of +0.272%). If the spread goes back, that is −$44 on $10k: about 4.8 days of funding at the current rate (+$9 a day). At the pace of the last 7 days (+1.542% in total) that is about 2.0 days. The two prices were read 114 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	46m 49s	$3K	$124K	12x
Short	BloFin POL-USDT	0.1109	0.0340	get 0.0170% / 4h	2h 46m	$912K	$156K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Injective. 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 InjectivebpFee BloFinbpOrdersPrice spread, now −0.171%Rate

Funding earned: $64.4
Price spread: −0.171% → +0.272%: −$44.29
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BloFin: 6 bp × 2 orders: −$12
Net: $8.09
Costs to cover: 0.120%
Break-even: 6.1 days

Slippage unknown: Injective: live order book, 42 min ago; BloFin: live order book, 20 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, 42 min ago	89.44 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 20 min ago	0.89 bp	8.8 bp −$9	14.0 bp −$140	51.0 bp −$5,102	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	−0.0312%	1h	0.1103	−0.720%	$203K	$202K	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1108	−0.288%	$3K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1109	−0.180%	$17K	$4K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1109	−0.196%	$24K	—	150x	as long as short
Orderly PERP_POL_USDC	+0.0033%	4h	0.1108	−0.270%	$11K	$220K	20x	as long as short
Injective POL/USDC PERPlong	+0.0033%	1h	0.1111	long leg	$3K	$124K	12x
Lighter POL	+0.0096%	1h	0.1108	−0.280%	$286K	$575K	8x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1108	−0.261%	$368K	$275K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1108	−0.270%	$17.0M	$43.9M	75x	as long as short
Bybit POLUSDT	+0.0100%	4h	0.1107	−0.324%	$16.0M	$12.6M	75x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX POL-USDT-SWAP	+0.0100%	4h	0.1108	−0.288%	$5.7M	$10.4M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1109	−0.207%	$1.8M	$1.2M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1108	−0.261%	$24.0M	$3.6M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1109	−0.171%	$2.9M	$986K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1108	−0.270%	$4.1M	$4.8M	50x	as long as short
BingX POL-USDT	+0.0100%	4h	0.1108	−0.261%	—	$7.2M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1108	−0.299%	$614K	$224K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1110	−0.081%	$1.1M	$2.8M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1110	−0.090%	$196K	$642K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1107	−0.338%	$92K	$447K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1106	−0.484%	$40K	—	3x	as long as short
Kraken Futures PF_POLUSD	+0.0116%	1h	0.1109	−0.221%	$1.2M	$1.3M	50x	as long as short
Hyperliquid POL	+0.0133%	1h	0.1109	−0.144%	$7.5M	$3.9M	5x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1109	−0.206%	$3K	—	100x	as long as short
BloFin POL-USDTshort	+0.0340%	4h	0.1109	−0.171%	$912K	$156K	75x