Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0303%/8h= +33.1% APRpaid last 24h +0.044%

Price spread now: Polymarket Perps against MEXC+0.027%7-day average +0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$210.207% of the position

Long on MEXC Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.075%+$7 on $10k

Price spread, last 3 days (all we have)+0.328%+$33 · spread now +0.027%, 7d avg +0.028%

Together, before fees+0.403%+$40 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.028%, so right now this pair is about funding alone: +$9 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.075% in total (about 3.9% 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	MEXC PONS_USDT	0.5959	0.0188	pay 0.0094% / 4h	1h 37m	$7.7M	$4.9M	20x
Short	Polymarket Perps PONS-USD	0.5961	0.0491	get 0.0061% / 1h	37m 13s	$37K	$1.7M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against MEXC. 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 MEXCbpFee Polymarket PerpsbpOrdersPrice spread, now +0.027%Rate

Funding earned: $63.55
Price spread: +0.027% → +0.028%: −$0.07
Slippage, 4 orders: −$12.68
Fee MEXC: 0 bp × 2 orders: $0
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $42.81
Costs to cover: 0.207%
Break-even: 2.3 days

Slippage from MEXC: live order book, 1 min ago; Polymarket Perps: live order book, 1 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 MEXC live order book, 1 min ago	0.84 bp	4.4 bp −$4	12.9 bp −$129	288.3 bp −$28.8K	doesn't fit
Sell Polymarket Perps live order book, 1 min ago	2.76 bp	6.8 bp −$7	7.7 bp −$77	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 +0.0032% / S −0.0034%	1h	0.5954	−0.080%	$218K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+0.176%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5960	+0.017%	$17K	$438K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5956	−0.050%	$17.8M	$31.6M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5960	+0.017%	$13.5M	$56.1M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5960	+0.010%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5965	+0.094%	$4.7M	$11.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5973	+0.240%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5986	+0.448%	$35K	$345K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5965	+0.107%	$2K	$3K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX PONS-USDT	+0.0100%	4h	0.5964	+0.081%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5958	−0.015%	$27K	$548K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5979	+0.339%	$64K	$506K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5953	−0.101%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5957	−0.036%	$371	—	3x	as long as short
Aster PONSUSDT	+0.0155%	4h	0.5961	+0.032%	$1.1M	$2.2M	20x	as long as short
Binance PONSUSDT	+0.0181%	4h	0.5959	+0.007%	$38.8M	$97.7M	20x	as long as short
BingX PONS-USDT	+0.0182%	4h	0.5961	+0.034%	—	$3.1M	—	as long as short
Extended PONS-USD	+0.0184%	1h	0.5959	+0.007%	$247K	$667K	5x	as long as short
MEXC PONS_USDTlong	+0.0188%	4h	0.5959	long leg	$7.7M	$4.9M	20x
edgeX PONSUSDC	+0.0199%	4h	0.5981	+0.370%	$21K	$292K	10x	as long as short
Nado PONS-PERP	+0.0218%	1h	0.5960	+0.017%	$90K	$103K	5x	as long as short
BloFin PONS-USDT	+0.0421%	4h	0.5965	+0.101%	$1.7M	$981K	20x	as long as short
Pacifica PONS	+0.0451%	1h	0.5961	+0.041%	$47K	$96K	3x	as long as short
Lighter RH PONS	+0.0488%	1h	0.5959	−0.002%	$419K	$2.7M	3x	as long as short
Polymarket Perps PONS-USDshort	+0.0491%	1h	0.5961	+0.027%	$37K	$1.7M	3x
Hyperliquid PONS	+0.0621%	1h	0.5965	+0.097%	$60.1M	$30.0M	3x	as long as short
Lighter PONS	+0.0784%	1h	0.5961	+0.032%	$1.7M	$991K	3x	as long as short
Gate PONS_USDT	+0.1368%	4h	0.5955	−0.067%	$5.2M	$6.5M	20x	as long as short
Phoenix PONS	+0.1398%	1h	0.5976	+0.280%	$30K	$96K	3x	as long as short