POL arbitrage explained
Right now POL (ex-MATIC) (POL) trades on 10 venues we scan: 10 perpetual markets, 7 spot markets and 0 DEX pools. The lowest ask is on Variational perp at $0.1019 and the highest bid on Binance spot at $0.1021.
The widest POL perpetual spread is between Variational and Binance: long POL on Variational at $0.1019 and short on Binance at $0.102 for +0.06% gross, or -0.10% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is -0.012% per day, which the position pays while it is open.
For a spot–perpetual (cash-and-carry) trade, the best POL route is to buy spot on Gate and short the perpetual on Binance: -0.12% gross, -0.32% net, with +0.018% a day of funding on the short leg.
Spot–spot POL arbitrage (buy on Gate, withdraw, deposit and sell on Binance) shows +0.02% gross right now. It only works if withdrawals on the buying exchange and deposits on the selling exchange are open, so check the D/W dots before moving coins.
Small POL gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.
Related: POL funding rates · POL spread charts · POL (ex-MATIC) price · arbitrage scanner for all coins.