Funding you earn now, next payment 08:00 UTC+0.0061%/8h= +6.7% APRnext payment +$0.31 per $10,000 · paid last 24h +0.051%
Price spread now: Bybit against Orderly−0.018%50s7-day average +0.006% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.528%+$53 on $10k
+Price spread, last 4 days (all we have)+0.404%+$40 · spread now −0.018%, 7d avg +0.006%
=Funding pays, the price is against you. Bybit is 0.024% cheaper against Orderly than usual: you would sell low and buy high (spread −0.018% now, against its 7-day average of +0.006%). If the spread goes back, that is −$2 on $10k: about 32 hours of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.528% in total) that is about 8 hours. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_POL_USDC | 0.1090 | 0.0039 | pay 0.0019% / 4h | 3h 01m | $11K | $637K | 20x |
| Short | Bybit POLUSDT | 0.1089 | 0.0100 | get 0.0050% / 4h | 3h 01m | $15.7M | $10.9M | 75x |
Orderly PERP_POL_USDC
Bybit POLUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Orderly. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $12.84
- Price spread: −0.018% → +0.006%
- −$2.41
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$6.57
- Costs to cover
- 0.170%
- Break-even
- 10.6 days
Slippage unknown: Orderly: no order-book sample; Bybit: live order book, 2 min ago. Net counts fees only.
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 Orderly no order-book sample | — | — | — | — | — |
| Sell Bybit live order book, 2 min ago | 0.46 bp | 15.1 bp −$15 | 44.4 bp −$444 | doesn't fit | doesn't fit |
Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | 0.1089 | −0.055% | $201K | $198K | 50x | as long as short |
| Gate POL_USDT | −0.0222% | 4h | 0.1089 | −0.073% | $1.8M | $1.4M | 75x | as long as short |
| Kraken Futures PF_POLUSD | −0.0141% | 1h | 0.1090 | +0.063% | $1.1M | $1.1M | 50x | as long as short |
| Reya POLRUSDPERP | −0.0006% | 1h | 0.1089 | −0.012% | $2K | — | — | as long as short |
| gTrade (Gains Network) POL/USD | L +0.0003% / S −0.0001% | 1h | 0.1090 | +0.079% | $12K | — | 150x | as long as short |
| Injective POL/USDC PERP | +0.0033% | 1h | 0.1111 | +1.964% | $3K | $124K | 12x | as long as short |
| Orderly PERP_POL_USDClong | +0.0039% | 4h | 0.1090 | long leg | $11K | $637K | 20x | |
| dYdX POL-USD | +0.0063% | 1h | 0.1091 | +0.092% | $18K | $4K | 5x | as long as short |
| Lighter POL | +0.0096% | 1h | 0.1090 | +0.039% | $277K | $542K | 8x | as long as short |
| Hyperliquid POL | +0.0100% | 1h | 0.1091 | +0.119% | $7.4M | $3.7M | 5x | as long as short |
Coinbase International POL-PERP-INTX
Gate POL_USDT
Kraken Futures PF_POLUSD
Reya POLRUSDPERP
gTrade (Gains Network) POL/USD
Injective POL/USDC PERP
dYdX POL-USD
Lighter POL
Hyperliquid POLShow all 25 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster POLUSDT | +0.0100% | 4h | 0.1091 | +0.102% | $362K | $247K | 20x | as long as short |
| Binance POLUSDT | +0.0100% | 4h | 0.1090 | +0.073% | $16.7M | $39.2M | 75x | as long as short |
| Bybit POLUSDTshort | +0.0100% | 4h | 0.1089 | −0.018% | $15.7M | $10.9M | 75x | |
| OKX POL-USDT-SWAP | +0.0100% | 4h | 0.1090 | +0.064% | $5.7M | $9.5M | 50x | as long as short |
| MEXC POL_USDT | +0.0100% | 4h | 0.1090 | +0.009% | $24.5M | $3.6M | 125x | as long as short |
| KuCoin POLUSDTM | +0.0100% | 4h | 0.1090 | +0.083% | $2.9M | $964K | 50x | as long as short |
| Bitget POLUSDT | +0.0100% | 4h | 0.1090 | +0.037% | $4.0M | $4.0M | 50x | as long as short |
| BingX POL-USDT | +0.0100% | 4h | 0.1090 | +0.028% | — | $7.2M | — | as long as short |
| Variational Omni POL | +0.0100% | 4h | 0.1093 | +0.299% | $605K | $206K | — | as long as short |
| GRVT POL_USDT_Perp | +0.0100% | 4h | 0.1093 | +0.307% | $1.1M | $2.8M | 10x | as long as short |
| ApeX Omni POLUSDT | +0.0100% | 1h | 0.1093 | +0.312% | $194K | $635K | 50x | as long as short |
| Extended POL-USD | +0.0104% | 1h | 0.1089 | −0.019% | $96K | $275K | 10x | as long as short |
| Aevo POL-PERP | +0.0104% | 1h | 0.1088 | −0.108% | $40K | — | 3x | as long as short |
| GMX POL/USD [ETH-USDC] | L +0.0210% / S −0.0388% | 1h | 0.1090 | +0.076% | $3K | — | 100x | as long as short |
| BloFin POL-USDT | +0.0340% | 4h | 0.1091 | +0.092% | $897K | $164K | 75x | as long as short |
Aster POLUSDT
Binance POLUSDT
OKX POL-USDT-SWAP
MEXC POL_USDT
KuCoin POLUSDTM
Bitget POLUSDT
BingX POL-USDT
Variational Omni POL
GRVT POL_USDT_Perp
ApeX Omni POLUSDT
Extended POL-USD
Aevo POL-PERP
GMX POL/USD [ETH-USDC]
BloFin POL-USDT