Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0237%/8h= −26.0% APRpaid last 24h −0.068%

Price spread now: Bitget against Polymarket Perps+0.068%7-day average +0.062% · you sell dearer than you buy

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$540.544% of the position

Long on Polymarket Perps Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.162%−$16 on $10k

Price spread, last 7 days−0.109%−$11 · spread now +0.068%, 7d avg +0.062%

Together, before fees−0.271%−$27 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.062%, so right now this pair is about funding alone: −$7 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 -0.162% in total (about -8.5% 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	Polymarket Perps PONS-USD	0.5918	0.0795	pay 0.0099% / 1h	43m 20s	$87K	$1.7M	3x
Short	Bitget PONSUSDT	0.5923	0.0558	get 0.0279% / 4h	2h 43m	$4.7M	$11.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.068%Rate

Funding earned: −$49.85
Price spread: +0.068% → +0.062%: $0.58
Slippage, 4 orders: −$34.37
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$103.64
Costs to cover: 0.544%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 5 min ago; Bitget: live order book, 5 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, 5 min ago	2.86 bp	7.5 bp −$8	8.8 bp −$88	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	1.18 bp	20.8 bp −$21	doesn't fit	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	0.5912	−0.109%	$235K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+0.862%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5919	+0.015%	$418K	$2.5M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5920	+0.025%	$21K	$417K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5924	+0.093%	$69K	$130K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5925	+0.110%	$34K	$335K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5930	+0.196%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5923	+0.074%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5920	+0.025%	$26K	$546K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5933	+0.250%	$64K	$513K	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex PONSUSDT	+0.0100%	4h	0.5925	+0.110%	$1.6M	$3.2M	20x	as long as short
Gate PONS_USDT	+0.0142%	4h	0.5916	−0.042%	$5.2M	$6.2M	20x	as long as short
Aevo PONS-PERP	+0.0232%	1h	0.5926	+0.127%	$369	—	3x	as long as short
Hyperliquid PONS	+0.0264%	1h	0.5918	−0.008%	$60.0M	$29.0M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0367%	4h	0.5921	+0.042%	$13.4M	$54.7M	20x	as long as short
Aster PONSUSDT	+0.0490%	4h	0.5925	+0.108%	$1.1M	$2.2M	20x	as long as short
Variational Omni PONS	+0.0538%	4h	0.5931	+0.219%	$1.4M	$4.1M	—	as long as short
Bitget PONSUSDTshort	+0.0558%	4h	0.5923	+0.068%	$4.7M	$11.8M	20x
Binance PONSUSDT	+0.0616%	4h	0.5921	+0.047%	$38.7M	$94.7M	20x	as long as short
Extended PONS-USD	+0.0616%	1h	0.5922	+0.058%	$106K	$807K	5x	as long as short
MEXC PONS_USDT	+0.0618%	4h	0.5921	+0.042%	$7.5M	$4.7M	20x	as long as short
edgeX PONSUSDC	+0.0627%	4h	0.5939	+0.340%	$20K	$296K	10x	as long as short
Pacifica PONS	+0.0715%	1h	0.5925	+0.113%	$46K	$68K	3x	as long as short
KuCoin PONSUSDTM	+0.0734%	4h	0.5923	+0.076%	$1.6M	$3.8M	20x	as long as short
Polymarket Perps PONS-USDlong	+0.0795%	1h	0.5918	long leg	$87K	$1.7M	3x
BingX PONS-USDT	+0.0796%	4h	0.5919	+0.008%	—	$3.0M	—	as long as short
Lighter PONS	+0.0800%	1h	0.5922	+0.057%	$1.6M	$886K	3x	as long as short
Bybit PONSUSDT	+0.0839%	4h	0.5919	+0.008%	$17.7M	$31.0M	20x	as long as short
BloFin PONS-USDT	+0.0856%	4h	0.5919	+0.008%	$1.7M	$943K	20x	as long as short
Phoenix PONS	+0.1719%	1h	0.5937	+0.318%	$45K	$121K	3x	as long as short