Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.047%

Price spread now: Hyperliquid against OKX+0.192%7-day average +0.081% · you sell dearer than you buy

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$570.567% of the position

Long on OKX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.303%+$30 on $10k

Price spread, last 7 days−0.204%−$20 · spread now +0.192%, 7d avg +0.081%

Together, before fees+0.099%+ Points / potential airdropHyperliquid: Season 2 · farm board+$10 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.111% dearer against OKX than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of +0.081%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX POL-USDT-SWAP	0.1093	0.0100	pay 0.0050% / 4h	2h 17m	$5.6M	$9.5M	50x
Short	Hyperliquid POL	0.1095	0.0100	get 0.0013% / 1h	17m 36s	$7.4M	$3.7M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.192%Rate

Funding earned: $0
Price spread: +0.192% → +0.081%: $11.1
Slippage, 4 orders: −$37.73
Fee OKX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$45.63
Costs to cover: 0.567%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; Hyperliquid: 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 OKX live order book, 5 min ago	0.46 bp	12.0 bp −$12	50.5 bp −$505	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 5 min ago	0.46 bp	14.3 bp −$14	doesn't fit	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	−0.0480%	1h	0.1081	−1.080%	$199K	$200K	50x	as long as short
Gate POL_USDT	−0.0202%	4h	0.1093	+0.009%	$1.8M	$1.3M	75x	as long as short
Kraken Futures PF_POLUSD	−0.0139%	1h	0.1093	+0.064%	$1.2M	$1.0M	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1092	−0.043%	$2K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1093	0.000%	$19K	$4K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0003% / S −0.0001%	1h	0.1094	+0.089%	$12K	—	150x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+1.665%	$3K	$124K	12x	as long as short
Orderly PERP_POL_USDC	+0.0036%	4h	0.1093	+0.009%	$11K	$988K	20x	as long as short
Lighter POL	+0.0096%	1h	0.1093	+0.045%	$278K	$543K	8x	as long as short
Hyperliquid POLshort	+0.0100%	1h	0.1095	+0.192%	$7.4M	$3.7M	5x

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster POLUSDT	+0.0100%	4h	0.1094	+0.102%	$363K	$240K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1093	+0.013%	$16.7M	$38.1M	75x	as long as short
Bybit POLUSDT	+0.0100%	4h	0.1093	−0.018%	$15.7M	$10.4M	75x	as long as short
OKX POL-USDT-SWAPlong	+0.0100%	4h	0.1093	long leg	$5.6M	$9.5M	50x
MEXC POL_USDT	+0.0100%	4h	0.1093	+0.027%	$24.6M	$3.2M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1094	+0.073%	$2.9M	$939K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1093	+0.027%	$4.0M	$4.1M	50x	as long as short
BingX POL-USDT	+0.0100%	4h	0.1093	+0.037%	—	$7.2M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1087	−0.521%	$601K	$167K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1093	+0.012%	$1.1M	$2.8M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1092	−0.073%	$194K	$629K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1093	0.000%	$91K	$265K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1092	−0.073%	$40K	—	3x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1094	+0.084%	$3K	—	100x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1092	−0.101%	$893K	$160K	75x	as long as short