Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0239%/8h= −26.2% APRpaid last 24h −0.063%

Price spread now: Kraken Futures against OKX+0.160%7-day average +0.069% · you sell dearer than you buy

Net, funding: paid 7d − costs−$84as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$730.734% of the position

Long on OKX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.104%−$10 on $10k

Price spread, last 4 days (all we have)−0.379%−$38 · spread now +0.160%, 7d avg +0.069%

Together, before fees−0.483%−$48 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.091% dearer against OKX than usual: you sell high and buy low (spread +0.160% now, against its 7-day average of +0.069%): +$9 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 30 hours. At the pace of the last 7 days (−0.104% in total) that is about 6.1 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.104% in total (about -5.4% 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	0.1102	0.0100	pay 0.0050% / 4h	3h 45m	$5.7M	$10.1M	50x
Short	Kraken Futures PF_POLUSD	0.1104	−0.0139	pay 0.0017% / 1h	45m 46s	$1.2M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.160%Rate

Funding earned: −$50.24
Price spread: +0.160% → +0.069%: $9.1
Slippage, 4 orders: −$53.41
Fee OKX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$114.56
Costs to cover: 0.734%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Kraken Futures: live order book, 3 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, 2 min ago	1.81 bp	11.3 bp −$11	48.7 bp −$487	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 3 min ago	6.78 bp	29.9 bp −$30	62.2 bp −$622	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	−0.0512%	1h	0.1098	−0.372%	$202K	$198K	50x	as long as short
Kraken Futures PF_POLUSDshort	−0.0139%	1h	0.1104	+0.160%	$1.2M	$1.2M	50x
Reya POLRUSDPERP	−0.0006%	1h	0.1103	+0.102%	$3K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1104	+0.154%	$17K	$2K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0004% / S −0.0007%	1h	0.1104	+0.181%	$24K	—	150x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+0.808%	$3K	$124K	12x	as long as short
Orderly PERP_POL_USDC	+0.0042%	4h	0.1103	+0.091%	$11K	$243K	20x	as long as short
Lighter POL	+0.0096%	1h	0.1102	+0.019%	$280K	$540K	8x	as long as short
Hyperliquid POL	+0.0100%	1h	0.1104	+0.172%	$7.5M	$3.7M	5x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1104	+0.205%	$367K	$247K	20x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance POLUSDT	+0.0100%	4h	0.1102	−0.013%	$17.0M	$41.3M	75x	as long as short
Bybit POLUSDT	+0.0100%	4h	0.1101	−0.064%	$15.8M	$11.8M	75x	as long as short
OKX POL-USDT-SWAPlong	+0.0100%	4h	0.1102	long leg	$5.7M	$10.1M	50x
Gate POL_USDT	+0.0100%	4h	0.1103	+0.054%	$1.8M	$1.3M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1102	+0.018%	$24.7M	$3.5M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1104	+0.127%	$2.9M	$975K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1102	−0.018%	$4.1M	$4.6M	50x	as long as short
BingX POL-USDC	+0.0100%	4h	0.1102	−0.009%	—	$1.6M	—	as long as short
Variational Omni POL	+0.0100%	4h	0.1103	+0.060%	$611K	$206K	—	as long as short
GRVT POL_USDT_Perp	+0.0100%	4h	0.1104	+0.209%	$1.1M	$2.8M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1106	+0.354%	$196K	$640K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1102	−0.038%	$92K	$450K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1102	−0.009%	$40K	—	3x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1104	+0.155%	$3K	—	100x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1105	+0.263%	$906K	$169K	75x	as long as short