Thanks all. I'm thinking I should retreat it with some silicone once it's dry. I appreciate verifying the tarp in contact with the pole isn't a good idea. I know the tarp was water tight when I first bought it. Since I'll only be able to use that hammock stand when car camping, I figure it'd make sense to use a cheap Harbor Frieght HD tarp with the hammock or pitch my other tarp underneath the pole.

I'd like to use that tarp with a ridgeline when snow camping this winter, so I'll need to be sure it's water tight before I commit to using it on a trip.

I can tell from its weight it has absorbed some water. I like the coverage this tarp gives, but I'll have to resort to using a different tarp if I can't get it watertight.