Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0376%/8h= +41.1% APRpaid last 24h +0.055%

Price spread now: Polymarket Perps against Bitget−0.040%7-day average −0.062% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$510.514% of the position

Long on Bitget Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.165%+$17 on $10k

Price spread, last 7 days+0.063%+$6 · spread now −0.040%, 7d avg −0.062%

Together, before fees+0.228%+$23 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Polymarket Perps is 0.022% dearer against Bitget than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.062%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.165% in total (about 8.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PONSUSDT	0.6007	0.0486	pay 0.0243% / 4h	5m 04s	$4.6M	$11.5M	20x
Short	Polymarket Perps PONS-USD	0.6004	0.0862	get 0.0108% / 1h	5m 04s	$71K	$1.6M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Bitget. 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 BitgetbpFee Polymarket PerpsbpOrdersPrice spread, now −0.040%Rate

Funding earned: $78.91
Price spread: −0.040% → −0.062%: $2.2
Slippage, 4 orders: −$31.37
Fee Bitget: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $29.74
Costs to cover: 0.514%
Break-even: 4.4 days

Slippage from Bitget: live order book, 3 min ago; Polymarket Perps: live order book, 3 min ago.

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 Bitget live order book, 3 min ago	2.74 bp	17.9 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 3 min ago	2.41 bp	6.4 bp −$6	7.9 bp −$79	doesn't fit	doesn't fit

PONS on 30 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
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0032%	1h	0.5995	−0.187%	$238K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.618%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6004	−0.043%	$21K	$435K	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6014	+0.130%	$34K	$345K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6004	−0.042%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6006	−0.012%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6002	−0.075%	$26K	$536K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6021	+0.235%	$65K	$512K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6006	−0.010%	$1.6M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0232%	1h	0.6002	−0.068%	$374	—	3x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni PONS	+0.0283%	4h	0.6009	+0.047%	$1.4M	$3.9M	—	as long as short
Nado PONS-PERP	+0.0304%	1h	0.6005	−0.027%	$70K	$129K	5x	as long as short
OKX PONS-USDT-SWAP	+0.0325%	4h	0.6004	−0.043%	$13.6M	$55.3M	20x	as long as short
Lighter PONS	+0.0352%	1h	0.6003	−0.058%	$1.6M	$897K	3x	as long as short
Aster PONSUSDT	+0.0445%	4h	0.6000	−0.103%	$1.1M	$2.1M	20x	as long as short
Lighter RH PONS	+0.0448%	1h	0.6003	−0.057%	$420K	$2.6M	3x	as long as short
Bitget PONSUSDTlong	+0.0486%	4h	0.6007	long leg	$4.6M	$11.5M	20x
Bybit PONSUSDT	+0.0498%	4h	0.5996	−0.176%	$17.9M	$30.9M	20x	as long as short
Gate PONS_USDT	+0.0504%	4h	0.5998	−0.143%	$5.2M	$6.4M	20x	as long as short
BingX PONS-USDT	+0.0576%	4h	0.6001	−0.093%	—	$3.0M	—	as long as short
Binance PONSUSDT	+0.0598%	4h	0.6004	−0.043%	$39.3M	$95.4M	20x	as long as short
Extended PONS-USD	+0.0600%	1h	0.6002	−0.072%	$108K	$813K	5x	as long as short
MEXC PONS_USDT	+0.0600%	4h	0.6002	−0.077%	$7.6M	$4.8M	20x	as long as short
edgeX PONSUSDC	+0.0616%	4h	0.6003	−0.053%	$18K	$293K	10x	as long as short
KuCoin PONSUSDTM	+0.0692%	4h	0.6001	−0.092%	$1.7M	$3.8M	20x	as long as short
Hyperliquid PONS	+0.0817%	1h	0.6001	−0.085%	$61.3M	$28.4M	3x	as long as short
BloFin PONS-USDT	+0.0838%	4h	0.6008	+0.023%	$1.8M	$957K	20x	as long as short
Pacifica PONS	+0.0859%	1h	0.6004	−0.037%	$47K	$67K	3x	as long as short
Polymarket Perps PONS-USDshort	+0.0862%	1h	0.6004	−0.040%	$71K	$1.6M	3x
Phoenix PONS	+0.1736%	1h	0.6012	+0.092%	$33K	$104K	3x	as long as short