Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0340%/8h= +37.2% APRpaid last 24h +0.110%

Price spread now: OKX against Kraken Futures−0.036%7-day average −0.074% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$720.720% of the position

Long on Kraken Futures Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.118%+$12 on $10k

Price spread, last 3 days (all we have)+0.083%+$8 · spread now −0.036%, 7d avg −0.074%

Together, before fees+0.201%+$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and OKX is 0.037% dearer against Kraken Futures than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.074%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.118% in total (about 6.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_POLUSD	0.1119	−0.0240	get 0.0030% / 1h	49m 13s	$1.2M	$1.4M	50x
Short	OKX POL-USDT-SWAP	0.1119	0.0100	get 0.0050% / 4h	3h 49m	$5.8M	$11.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.036%Rate

Funding earned: $71.34
Price spread: −0.036% → −0.074%: $3.71
Slippage, 4 orders: −$51.96
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: $3.09
Costs to cover: 0.720%
Break-even: 6.7 days

Slippage from Kraken Futures: live order book, 4 min ago; OKX: 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, 4 min ago	7.13 bp	14.1 bp −$14	61.2 bp −$612	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	1.78 bp	16.8 bp −$17	63.0 bp −$630	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
Kraken Futures PF_POLUSDlong	−0.0240%	1h	0.1119	long leg	$1.2M	$1.4M	50x
Coinbase International POL-PERP-INTX	−0.0152%	1h	0.1115	−0.376%	$204K	$214K	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1118	−0.139%	$3K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1118	−0.108%	$17K	$3K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1119	−0.056%	$24K	—	150x	as long as short
Orderly PERP_POL_USDC	+0.0014%	4h	0.1118	−0.081%	$11K	$179K	20x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	−0.733%	$3K	$124K	12x	as long as short
Lighter POL	+0.0096%	1h	0.1119	+0.002%	$299K	$574K	8x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1119	−0.044%	$372K	$340K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1119	−0.028%	$17.2M	$47.4M	75x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit POLUSDT	+0.0100%	4h	0.1118	−0.081%	$16.1M	$14.1M	75x	as long as short
OKX POL-USDT-SWAPshort	+0.0100%	4h	0.1119	−0.036%	$5.8M	$11.2M	50x
Gate POL_USDT	+0.0100%	4h	0.1118	−0.072%	$1.9M	$1.2M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1118	−0.126%	$24.2M	$3.7M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1118	−0.072%	$3.0M	$1.0M	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1118	−0.090%	$4.1M	$5.1M	50x	as long as short
BingX POL-USDC	+0.0100%	4h	0.1118	−0.099%	—	$1.7M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1117	−0.195%	$661K	$183K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1121	+0.149%	$1.1M	$3.0M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1118	−0.108%	$197K	$643K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1118	−0.086%	$94K	$450K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1119	−0.005%	$41K	—	3x	as long as short
Hyperliquid POL	+0.0138%	1h	0.1119	+0.026%	$7.6M	$3.9M	5x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0216% / S −0.0750%	1h	0.1119	−0.053%	$3K	—	100x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1117	−0.188%	$906K	$159K	75x	as long as short