Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0214%/8h= −23.4% APRpaid last 24h +0.084%

Price spread now: BingX against Kraken Futures−0.112%7-day average −0.062% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$690.690% of the position

Long on Kraken Futures Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.349%+$35 on $10k

Price spread, last 4 days (all we have)+0.611%+$61 · spread now −0.112%, 7d avg −0.062%

Together, before fees+0.960%+$96 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and BingX is 0.050% cheaper against Kraken Futures than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.062%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.349%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_POLUSD	0.1101	0.0314	pay 0.0039% / 1h	18m 46s	$1.2M	$1.2M	50x
Short	BingX POL-USDT	0.1100	0.0100	get 0.0050% / 4h	18m 46s	—	$7.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Kraken Futures. 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 Kraken FuturesbpFee BingXbpOrdersPrice spread, now −0.112%Rate

Funding earned: −$44.87
Price spread: −0.112% → −0.062%: −$5
Slippage, 4 orders: −$49
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$118.87
Costs to cover: 0.690%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 5 min ago; BingX: live order book, 4 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 Kraken Futures live order book, 5 min ago	7.26 bp	17.0 bp −$17	45.3 bp −$453	doesn't fit	doesn't fit
Sell BingX live order book, 4 min ago	1.82 bp	16.5 bp −$17	33.0 bp −$330	96.0 bp −$9,598	443.8 bp −$221.9K

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	−0.0520%	1h	0.1102	+0.106%	$203K	$197K	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1100	−0.036%	$3K	—	—	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1101	+0.026%	$24K	—	150x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+0.924%	$3K	$124K	12x	as long as short
Orderly PERP_POL_USDC	+0.0041%	4h	0.1100	−0.030%	$11K	$250K	20x	as long as short
Gate POL_USDT	+0.0090%	4h	0.1099	−0.130%	$1.8M	$1.3M	75x	as long as short
Lighter POL	+0.0096%	1h	0.1100	−0.108%	$280K	$555K	8x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1099	−0.134%	$365K	$271K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1100	−0.121%	$17.0M	$41.6M	75x	as long as short
Bybit POLUSDT	+0.0100%	4h	0.1099	−0.130%	$15.8M	$11.8M	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	0.1100	−0.121%	$5.7M	$10.1M	50x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1100	−0.075%	$24.6M	$3.6M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1100	−0.039%	$2.9M	$975K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1100	−0.121%	$4.1M	$4.6M	50x	as long as short
BingX POL-USDTshort	+0.0100%	4h	0.1100	−0.112%	—	$7.2M	—
Variational Omni POL	+0.0100%	4h	0.1100	−0.080%	$609K	$206K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1102	+0.088%	$1.1M	$2.8M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1102	+0.106%	$195K	$637K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1100	−0.075%	$92K	$456K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1099	−0.158%	$40K	—	3x	as long as short
Hyperliquid POL	+0.0134%	1h	0.1101	+0.052%	$7.5M	$3.7M	5x	as long as short
dYdX POL-USD	+0.0159%	1h	0.1101	+0.026%	$17K	$2K	5x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1101	+0.027%	$3K	—	100x	as long as short
Kraken Futures PF_POLUSDlong	+0.0314%	1h	0.1101	long leg	$1.2M	$1.2M	50x
BloFin POL-USDT	+0.0340%	4h	0.1101	+0.034%	$906K	$169K	75x	as long as short