Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0145%/8h= −15.9% APRpaid last 24h −0.055%

Price spread now: Binance against Polymarket Perps−0.054%46s7-day average +0.083% · you buy dearer than you sell

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$400.395% of the position

Long on Polymarket Perps Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.069%−$7 on $10k

Price spread, last 7 days+0.113%+$11 · spread now −0.054%, 7d avg +0.083%

Together, before fees+0.044%+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Binance is 0.137% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of +0.083%). Swap the legs. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps PONS-USD	0.5930	0.0327	pay 0.0041% / 1h	56m 34s	$38K	$1.8M	3x
Short	Binance PONSUSDT	0.5926	0.0182	get 0.0091% / 4h	2h 56m	$38.6M	$98.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Polymarket Perps. 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 Polymarket PerpsbpFee BinancebpOrdersPrice spread, now −0.054%Rate

Funding earned: −$30.48
Price spread: −0.054% → +0.083%: −$13.68
Slippage, 4 orders: −$21.54
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$83.7
Costs to cover: 0.395%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 2 min ago; Binance: 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 Polymarket Perps live order book, 2 min ago	2.36 bp	6.4 bp −$6	6.9 bp −$69	doesn't fit	doesn't fit
Sell Binance live order book, 1 min ago	0.84 bp	12.5 bp −$12	33.1 bp −$331	253.8 bp −$25.4K	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	0.5923	−0.113%	$217K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	−0.169%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5920	−0.162%	$21K	$459K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5920	−0.162%	$18.0M	$31.4M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5918	−0.196%	$13.6M	$56.1M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5928	−0.020%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5921	−0.150%	$4.6M	$11.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5963	+0.556%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5963	+0.570%	$34K	$326K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5934	+0.066%	$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	0.5934	+0.079%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5926	−0.066%	$27K	$535K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5934	+0.081%	$64K	$504K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5925	−0.078%	$1.7M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5930	+0.007%	$369	—	3x	as long as short
Lighter RH PONS	+0.0160%	1h	0.5932	+0.035%	$400K	$2.5M	3x	as long as short
Binance PONSUSDTshort	+0.0182%	4h	0.5926	−0.054%	$38.6M	$98.1M	20x
BingX PONS-USDT	+0.0188%	4h	0.5923	−0.111%	—	$3.1M	—	as long as short
MEXC PONS_USDT	+0.0190%	4h	0.5928	−0.027%	$7.8M	$5.1M	20x	as long as short
Extended PONS-USD	+0.0192%	1h	0.5923	−0.106%	$106K	$529K	5x	as long as short
Nado PONS-PERP	+0.0205%	1h	0.5934	+0.076%	$84K	$100K	5x	as long as short
edgeX PONSUSDC	+0.0206%	4h	0.5961	+0.528%	$21K	$292K	10x	as long as short
Aster PONSUSDT	+0.0250%	4h	0.5928	−0.033%	$1.1M	$2.2M	20x	as long as short
Gate PONS_USDT	+0.0306%	4h	0.5919	−0.179%	$5.2M	$6.7M	20x	as long as short
Polymarket Perps PONS-USDlong	+0.0327%	1h	0.5930	long leg	$38K	$1.8M	3x
BloFin PONS-USDT	+0.0431%	4h	0.5934	+0.074%	$1.7M	$988K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5928	−0.032%	$47K	$102K	3x	as long as short
Hyperliquid PONS	+0.0745%	1h	0.5934	+0.081%	$59.4M	$29.7M	3x	as long as short
Lighter PONS	+0.1016%	1h	0.5936	+0.108%	$1.7M	$879K	3x	as long as short
Phoenix PONS	+0.1232%	1h	0.5931	+0.030%	$27K	$86K	3x	as long as short