Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0160%/8h= −17.5% APRpaid last 24h +0.096%

Price spread now: Bybit against Kraken Futures−0.209%7-day average −0.082% · you buy dearer than you sell

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$91as in the Price arb table

costs, in and out, $10k−$780.782% of the position

Long on Kraken Futures Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.287%+$29 on $10k

Price spread, last 4 days (all we have)+1.319%+$132 · spread now −0.209%, 7d avg −0.082%

Together, before fees+1.606%+$161 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 Bybit is 0.126% cheaper against Kraken Futures than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.082%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.287%, 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	0.1105	0.0260	pay 0.0032% / 1h	8m 51s	$1.2M	$1.2M	50x
Short	Bybit POLUSDT	0.1102	0.0100	get 0.0050% / 4h	1h 08m	$15.9M	$11.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.209%Rate

Funding earned: −$33.51
Price spread: −0.209% → −0.082%: −$12.64
Slippage, 4 orders: −$57.15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$124.3
Costs to cover: 0.782%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 5 min ago; Bybit: 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 Kraken Futures live order book, 5 min ago	10.85 bp	24.0 bp −$24	56.8 bp −$568	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	2.27 bp	18.0 bp −$18	39.7 bp −$397	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	−0.0464%	1h	0.1103	−0.154%	$203K	$199K	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1103	−0.131%	$3K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1105	+0.027%	$17K	$1K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1104	−0.027%	$24K	—	150x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+0.570%	$3K	$124K	12x	as long as short
Orderly PERP_POL_USDC	+0.0043%	4h	0.1104	−0.091%	$11K	$271K	20x	as long as short
Lighter POL	+0.0096%	1h	0.1104	−0.065%	$285K	$565K	8x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1104	−0.077%	$367K	$269K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1103	−0.172%	$17.1M	$42.0M	75x	as long as short
Bybit POLUSDTshort	+0.0100%	4h	0.1102	−0.209%	$15.9M	$11.7M	75x

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	0.1102	−0.218%	$5.7M	$10.0M	50x	as long as short
Gate POL_USDT	+0.0100%	4h	0.1103	−0.136%	$1.8M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1103	−0.145%	$24.4M	$3.6M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1104	−0.028%	$2.9M	$973K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1104	−0.046%	$4.2M	$4.6M	50x	as long as short
BingX POL-USDC	+0.0100%	4h	0.1103	−0.191%	—	$1.7M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1104	−0.074%	$611K	$209K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1106	+0.150%	$1.1M	$2.7M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1105	+0.027%	$196K	$634K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1103	−0.152%	$92K	$448K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1103	−0.200%	$40K	—	3x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1104	−0.039%	$3K	—	100x	as long as short
Hyperliquid POL	+0.0225%	1h	0.1106	+0.076%	$7.4M	$3.7M	5x	as long as short
Kraken Futures PF_POLUSDlong	+0.0260%	1h	0.1105	long leg	$1.2M	$1.2M	50x
BloFin POL-USDT	+0.0340%	4h	0.1104	−0.046%	$913K	$167K	75x	as long as short