Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0310%/8h= −33.9% APRpaid last 24h +0.121%

Price spread now: Polymarket Perps against OKX−0.149%7-day average −0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$510.505% of the position

Long on OKX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.322%+$32 on $10k

Price spread, last 7 days+0.233%+$23 · spread now −0.149%, 7d avg −0.027%

Together, before fees+0.555%+$55 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Polymarket Perps is 0.122% cheaper against OKX than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.027%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.322%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PONS-USDT-SWAP	0.6355	0.0410	pay 0.0205% / 4h	1h 59m	$14.5M	$60.3M	20x
Short	Polymarket Perps PONS-USD	0.6345	0.0100	get 0.0013% / 1h	59m 02s	$75K	$2.2M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against OKX. 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 OKXbpFee Polymarket PerpsbpOrdersPrice spread, now −0.149%Rate

Funding earned: −$65.03
Price spread: −0.149% → −0.027%: −$12.22
Slippage, 4 orders: −$32.53
Fee OKX: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$127.79
Costs to cover: 0.505%
Break-even: never at this rate

Slippage from OKX: 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 OKX live order book, 3 min ago	1.58 bp	13.5 bp −$13	25.6 bp −$256	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 3 min ago	4.10 bp	9.4 bp −$9	13.6 bp −$136	doesn't fit	doesn't fit

PONS on 30 exchanges

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 −0.0030%	1h	0.6335	−0.307%	$249K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5938	−6.554%	$610	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6346	−0.142%	$23K	$405K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6349	−0.102%	$77K	$109K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6360	+0.080%	$32K	$280K	5x	as long as short
Polymarket Perps PONS-USDshort	+0.0100%	1h	0.6345	−0.149%	$75K	$2.2M	3x
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6359	+0.055%	$2K	$4K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6346	−0.142%	—	$902K	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6355	0.000%	$27K	$636K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6359	+0.069%	$67K	$535K	20x	as long as short

Show all 30 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex PONSUSDT	+0.0100%	4h	0.6353	−0.031%	$1.7M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0240%	1h	0.6358	+0.047%	$396	—	3x	as long as short
Lighter RH PONS	+0.0288%	1h	0.6352	−0.039%	$446K	$2.6M	3x	as long as short
OKX PONS-USDT-SWAPlong	+0.0410%	4h	0.6355	long leg	$14.5M	$60.3M	20x
Hyperliquid PONS	+0.0417%	1h	0.6359	+0.063%	$65.3M	$31.0M	3x	as long as short
KuCoin PONSUSDTM	+0.0472%	4h	0.6355	+0.008%	$1.8M	$4.3M	20x	as long as short
Aster PONSUSDT	+0.0536%	4h	0.6356	+0.012%	$1.2M	$2.2M	20x	as long as short
Variational Omni PONS	+0.0662%	4h	0.6340	−0.236%	$1.6M	$4.3M	—	as long as short
MEXC PONS_USDT	+0.0670%	4h	0.6355	0.000%	$7.9M	$4.5M	20x	as long as short
Binance PONSUSDT	+0.0676%	4h	0.6360	+0.078%	$41.7M	$101.4M	20x	as long as short
edgeX PONSUSDC	+0.0679%	4h	0.6348	−0.105%	$19K	$294K	10x	as long as short
Extended PONS-USD	+0.0680%	1h	0.6348	−0.104%	$183K	$881K	5x	as long as short
Bitget PONSUSDT	+0.0758%	4h	0.6361	+0.094%	$5.1M	$13.6M	20x	as long as short
BingX PONS-USDT	+0.0794%	4h	0.6351	−0.063%	—	$3.1M	—	as long as short
Pacifica PONS	+0.0810%	1h	0.6345	−0.159%	$46K	$76K	3x	as long as short
Bybit PONSUSDT	+0.0820%	4h	0.6372	+0.268%	$19.3M	$32.6M	20x	as long as short
Gate PONS_USDT	+0.0898%	4h	0.6354	−0.016%	$5.5M	$6.3M	20x	as long as short
BloFin PONS-USDT	+0.0916%	4h	0.6346	−0.142%	$1.9M	$1.1M	20x	as long as short
Lighter PONS	+0.1032%	1h	0.6355	0.000%	$1.8M	$851K	3x	as long as short
Phoenix PONS	+0.1668%	1h	0.6353	−0.036%	$48K	$162K	3x	as long as short