Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0288%/8h= +31.6% APRpaid last 24h +0.140%

Price spread now: GMX against Variational Omni−0.234%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. GMX is 0.234% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.234% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$23 on $10k: about 2.7 days of funding at the current rate (+$9 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni POL	0.1095	0.0100	pay 0.0050% / 4h	2h 53m	$607K	$166K	—
Short	GMX POL/USD [ETH-USDC]	0.1093	L +0.0210% / S −0.0388%	get 0.0049% / 1h	53m 40s	$3K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Variational Omni. 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 Variational OmnibpFee GMXbpOrdersPrice spread, now −0.234%Rate

Funding earned: $60.54
Price spread: −0.234% → 0.000%: −$23.45
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee GMX: 6 bp × 2 orders: −$12
Net: $25.09
Costs to cover: 0.120%
Break-even: 4.1 days

Slippage unknown: Variational Omni: RFQ quote, 60 min ago; GMX: no order-book sample. 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 Variational Omni RFQ quote, 60 min ago	9.07 bp	doesn't fit	36.3 bp −$363	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	−0.0480%	1h	0.1091	−0.389%	$201K	$199K	50x	as long as short
Gate POL_USDT	−0.0262%	4h	0.1091	−0.361%	$1.8M	$1.3M	75x	as long as short
Kraken Futures PF_POLUSD	−0.0139%	1h	0.1093	−0.236%	$1.2M	$1.1M	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1092	−0.316%	$2K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1093	−0.215%	$19K	$4K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0003% / S −0.0001%	1h	0.1093	−0.233%	$12K	—	150x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+1.437%	$3K	$124K	12x	as long as short
Orderly PERP_POL_USDC	+0.0037%	4h	0.1092	−0.252%	$11K	$714K	20x	as long as short
Lighter POL	+0.0096%	1h	0.1092	−0.267%	$278K	$541K	8x	as long as short
OKX POL-USDT-SWAP	+0.0098%	4h	0.1092	−0.307%	$5.7M	$9.5M	50x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid POL	+0.0100%	1h	0.1094	−0.145%	$7.4M	$3.7M	5x	as long as short
Aster POLUSDT	+0.0100%	4h	0.1093	−0.192%	$363K	$247K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1092	−0.294%	$16.7M	$38.9M	75x	as long as short
Bybit POLUSDT	+0.0100%	4h	0.1091	−0.371%	$15.7M	$10.8M	75x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1092	−0.307%	$24.6M	$3.2M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1093	−0.197%	$2.9M	$943K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1092	−0.325%	$4.0M	$4.1M	50x	as long as short
BingX POL-USDC	+0.0100%	4h	0.1092	−0.325%	—	$1.6M	—	as long as short
Variational Omni POLlong	+0.0100%	4h	0.1095	long leg	$607K	$166K	—
GRVT POL_USDT_Perp	+0.0100%	4h	0.1097	+0.194%	$1.1M	$2.8M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1095	−0.024%	$194K	$633K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1092	−0.337%	$96K	$271K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1090	−0.438%	$40K	—	3x	as long as short
GMX POL/USD [ETH-USDC]short	L +0.0210% / S −0.0388%	1h	0.1093	−0.234%	$3K	—	100x
BloFin POL-USDT	+0.0340%	4h	0.1093	−0.215%	$904K	$164K	75x	as long as short