Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0158%/8h= +17.3% APRpaid last 24h −0.023%

Price spread now: Polymarket Perps against BloFin−0.038%7-day average −0.047% · you buy dearer than you sell

Net, funding: paid 7d − costs−$84as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$420.418% of the position

Long on BloFin Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.423%−$42 on $10k

Price spread, last 3 days (all we have)−0.114%−$11 · spread now −0.038%, 7d avg −0.047%

Together, before fees−0.537%−$54 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.047%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.423%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PONS-USDT	0.6108	0.0614	pay 0.0307% / 4h	3h 14m	$1.8M	$993K	20x
Short	Polymarket Perps PONS-USD	0.6106	0.0772	get 0.0096% / 1h	14m 50s	$45K	$1.6M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against BloFin. 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 BloFinbpFee Polymarket PerpsbpOrdersPrice spread, now −0.038%Rate

Funding earned: $33.18
Price spread: −0.038% → −0.047%: $0.94
Slippage, 4 orders: −$21.8
Fee BloFin: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$7.69
Costs to cover: 0.418%
Break-even: 8.6 days

Slippage from BloFin: live order book, 3 min ago; Polymarket Perps: live order book, 4 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 BloFin live order book, 3 min ago	4.92 bp	13.8 bp −$14	25.4 bp −$254	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 4 min ago	2.46 bp	6.5 bp −$6	7.0 bp −$70	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 −0.0033%	1h	0.6095	−0.217%	$241K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−2.268%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6105	−0.049%	$20K	$415K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6089	−0.318%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6088	−0.329%	$33K	$356K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6113	+0.083%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6103	−0.074%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6108	−0.005%	$28K	$542K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6120	+0.198%	$65K	$510K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6106	−0.033%	$1.7M	$3.2M	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH PONS	+0.0112%	1h	0.6110	+0.031%	$430K	$2.6M	3x	as long as short
Aevo PONS-PERP	+0.0176%	1h	0.6107	−0.011%	$380	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0190%	4h	0.6110	+0.033%	$14.0M	$56.6M	20x	as long as short
KuCoin PONSUSDTM	+0.0200%	4h	0.6101	−0.115%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0266%	4h	0.6110	+0.038%	$4.8M	$11.4M	20x	as long as short
Aster PONSUSDT	+0.0293%	4h	0.6097	−0.175%	$1.1M	$2.1M	20x	as long as short
edgeX PONSUSDC	+0.0363%	4h	0.6098	−0.169%	$21K	$294K	10x	as long as short
MEXC PONS_USDT	+0.0364%	4h	0.6107	−0.016%	$7.9M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0374%	4h	0.6112	+0.065%	$40.2M	$96.3M	20x	as long as short
Extended PONS-USD	+0.0376%	1h	0.6108	−0.006%	$252K	$678K	5x	as long as short
Lighter PONS	+0.0432%	1h	0.6107	−0.016%	$1.7M	$937K	3x	as long as short
BingX PONS-USDT	+0.0560%	4h	0.6111	+0.049%	—	$3.1M	—	as long as short
Bybit PONSUSDT	+0.0607%	4h	0.6107	−0.016%	$18.3M	$30.9M	20x	as long as short
Nado PONS-PERP	+0.0607%	1h	0.6101	−0.121%	$105K	$115K	5x	as long as short
BloFin PONS-USDTlong	+0.0614%	4h	0.6108	long leg	$1.8M	$993K	20x
Pacifica PONS	+0.0665%	1h	0.6099	−0.145%	$48K	$78K	3x	as long as short
Polymarket Perps PONS-USDshort	+0.0772%	1h	0.6106	−0.038%	$45K	$1.6M	3x
Gate PONS_USDT	+0.0830%	4h	0.6099	−0.147%	$5.3M	$6.2M	20x	as long as short
Hyperliquid PONS	+0.0868%	1h	0.6110	+0.034%	$62.1M	$29.1M	3x	as long as short
Phoenix PONS	+0.1608%	1h	0.6094	−0.234%	$32K	$113K	3x	as long as short