Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0564%/8h= −61.8% APRpaid last 24h −0.152%

Price spread now: Coinbase International against OKX−0.218%7-day average −0.363% · you buy dearer than you sell

Net, funding: paid 7d − costs−$117as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$840.837% of the position

Long on OKX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.332%−$33 on $10k

Price spread, last 3 days (all we have)−0.713%−$71 · spread now −0.218%, 7d avg −0.363%

Together, before fees−1.045%−$104 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.145% dearer against OKX than usual: you sell high and buy low (spread −0.218% now, against its 7-day average of −0.363%): +$15 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 21 hours. At the pace of the last 7 days (−0.332% in total) that is about 3.1 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.332% in total (about -17.3% 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	OKX POL-USDT-SWAP	0.1101	0.0100	pay 0.0050% / 4h	1h 58m	$5.7M	$10.1M	50x
Short	Coinbase International POL-PERP-INTX	0.1099	−0.0464	pay 0.0058% / 1h	58m 36s	$202K	$201K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against OKX. 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 OKXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.218%Rate

Funding earned: −$118.44
Price spread: −0.218% → −0.363%: $14.54
Slippage, 4 orders: −$63.69
Fee OKX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$187.58
Costs to cover: 0.837%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; Coinbase International: 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 OKX live order book, 5 min ago	1.82 bp	14.5 bp −$15	63.7 bp −$637	doesn't fit	doesn't fit
Sell Coinbase International live order book, 4 min ago	13.63 bp	18.6 bp −$19	doesn't fit	doesn't fit	doesn't fit

POL on 24 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-INTXshort	−0.0464%	1h	0.1099	−0.218%	$202K	$201K	50x
Reya POLRUSDPERP	−0.0006%	1h	0.1102	+0.037%	$3K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1103	+0.127%	$17K	$1K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1103	+0.122%	$24K	—	150x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+0.872%	$3K	$124K	12x	as long as short
Orderly PERP_POL_USDC	+0.0046%	4h	0.1102	+0.064%	$11K	$305K	20x	as long as short
Lighter POL	+0.0096%	1h	0.1102	+0.075%	$285K	$564K	8x	as long as short
Hyperliquid POL	+0.0100%	1h	0.1104	+0.263%	$7.4M	$3.7M	5x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1103	+0.171%	$367K	$276K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1102	+0.027%	$17.1M	$42.5M	75x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit POLUSDT	+0.0100%	4h	0.1101	−0.009%	$15.9M	$11.8M	75x	as long as short
OKX POL-USDT-SWAPlong	+0.0100%	4h	0.1101	long leg	$5.7M	$10.1M	50x
Gate POL_USDT	+0.0100%	4h	0.1102	+0.018%	$1.8M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1102	+0.045%	$23.8M	$3.5M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1103	+0.109%	$2.9M	$969K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1102	+0.027%	$4.2M	$4.7M	50x	as long as short
BingX POL-USDC	+0.0100%	4h	0.1102	+0.018%	—	$1.6M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1102	+0.010%	$610K	$209K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1102	+0.047%	$1.1M	$2.7M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1103	+0.145%	$195K	$634K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1101	+0.009%	$92K	$446K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1101	−0.039%	$40K	—	3x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1102	+0.090%	$3K	—	100x	as long as short
Kraken Futures PF_POLUSD	+0.0260%	1h	0.1103	+0.184%	$1.2M	$1.2M	50x	as long as short