Funding arb · Price arb /

POL

all POL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against Variational Omni+0.232%7-day average +0.100% · you sell dearer than you buy

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

Long on Variational Omni Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.006%−$1 on $10k

Price spread, last 4 days (all we have)−0.189%−$19 · spread now +0.232%, 7d avg +0.100%

Together, before fees−0.195%+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm board−$20 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: Lighter is 0.131% dearer against Variational Omni than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of +0.100%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni POL	0.1093	0.0100	pay 0.0050% / 4h	2h 14m	$604K	$167K	—
Short	Lighter POL	0.1095	0.0096	get 0.0012% / 1h	14m 10s	$277K	$544K	8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 LighterbpOrdersPrice spread, now +0.232%Rate

Funding earned: −$0.84
Price spread: +0.232% → +0.100%: $13.12
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: $12.28
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 35 min ago; Lighter: live order book, 26 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 Variational Omni RFQ quote, 35 min ago	9.16 bp	doesn't fit	27.5 bp −$275	doesn't fit	doesn't fit
Sell Lighter live order book, 26 min ago	2.67 bp	12.7 bp −$13	66.6 bp −$666	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	−1.077%	$199K	$200K	50x	as long as short
Gate POL_USDT	−0.0208%	4h	0.1094	+0.122%	$1.8M	$1.3M	75x	as long as short
Kraken Futures PF_POLUSD	−0.0139%	1h	0.1096	+0.269%	$1.2M	$1.0M	50x	as long as short
Reya POLRUSDPERP	−0.0006%	1h	0.1094	+0.154%	$3K	—	—	as long as short
dYdX POL-USD	0.0000%	1h	0.1095	+0.187%	$19K	$4K	5x	as long as short
gTrade (Gains Network) POL/USD	L +0.0003% / S −0.0001%	1h	0.1095	+0.247%	$12K	—	150x	as long as short
Injective POL/USDC PERP	+0.0033%	1h	0.1111	+1.668%	$3K	$124K	12x	as long as short
Orderly PERP_POL_USDC	+0.0035%	4h	0.1095	+0.186%	$11K	$1.0M	20x	as long as short
Lighter POLshort	+0.0096%	1h	0.1095	+0.232%	$277K	$544K	8x
Hyperliquid POL	+0.0100%	1h	0.1097	+0.360%	$7.4M	$3.7M	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster POLUSDT	+0.0100%	4h	0.1095	+0.243%	$363K	$240K	20x	as long as short
Binance POLUSDT	+0.0100%	4h	0.1095	+0.250%	$16.7M	$38.0M	75x	as long as short
Bybit POLUSDT	+0.0100%	4h	0.1095	+0.195%	$15.7M	$10.4M	75x	as long as short
OKX POL-USDT-SWAP	+0.0100%	4h	0.1095	+0.232%	$5.6M	$9.6M	50x	as long as short
MEXC POL_USDT	+0.0100%	4h	0.1095	+0.241%	$24.7M	$3.2M	125x	as long as short
KuCoin POLUSDTM	+0.0100%	4h	0.1095	+0.241%	$2.9M	$939K	50x	as long as short
Bitget POLUSDT	+0.0100%	4h	0.1096	+0.259%	$4.1M	$4.1M	50x	as long as short
BingX POL-USDC	+0.0100%	4h	0.1095	+0.204%	—	$1.7M	—	as long as short
Variational Omni POLlong	+0.0100%	4h	0.1093	long leg	$604K	$167K	—
GRVT POL_USDT_Perp	+0.0100%	4h	0.1093	+0.015%	$1.1M	$2.8M	10x	as long as short
ApeX Omni POLUSDT	+0.0100%	1h	0.1094	+0.113%	$194K	$629K	50x	as long as short
Extended POL-USD	+0.0104%	1h	0.1095	+0.205%	$92K	$265K	10x	as long as short
Aevo POL-PERP	+0.0104%	1h	0.1094	+0.101%	$40K	—	3x	as long as short
GMX POL/USD [ETH-USDC]	L +0.0210% / S −0.0388%	1h	0.1095	+0.232%	$3K	—	100x	as long as short
BloFin POL-USDT	+0.0340%	4h	0.1093	+0.049%	$696K	$159K	75x	as long as short