PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0361%/8h= −39.5% APRnext payment −$0.45 per $10,000 · paid last 24h −0.045%

Price spread now: Extended against Polymarket Perps−0.081%7-day average +0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$680.678% of the position

Long on Polymarket Perps Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.051%+$5 on $10k

Price spread, last 4 days (all we have)+1.679%+$168 · spread now −0.081%, 7d avg +0.029%

Together, before fees+1.730%+ Points / potential airdropExtended: Active · farm board+$173 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Extended is 0.109% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.029%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.051%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.051% in total (about 2.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.45 per $10,000. 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	0.6126	0.0665	pay 0.0083% / 1h	29m 39s	$42K	$1.7M	3x
Short	Extended PONS-USD	0.6121	0.0304	get 0.0038% / 1h	29m 39s	$253K	$682K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.081%Rate

Funding earned: −$75.73
Price spread: −0.081% → +0.029%: −$10.94
Slippage, 4 orders: −$54.78
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$154.45
Costs to cover: 0.678%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 4 min ago; Extended: live order book, 48 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, 4 min ago	0.82 bp	7.5 bp −$8	8.3 bp −$83	doesn't fit	doesn't fit
Sell Extended live order book, 48 min ago	11.94 bp	26.3 bp −$26	183.1 bp −$1,831	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
Injective PONS/USDC PERP	−0.0047%	1h	0.5969	−2.552%	$614	$10K	5.5x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0033%	1h	0.6118	−0.128%	$242K	—	150x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6123	−0.049%	$429K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6125	−0.013%	$20K	$438K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6125	−0.012%	$88K	$107K	5x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.6120	−0.095%	$18.5M	$31.5M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6123	−0.046%	$14.0M	$58.1M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6124	−0.025%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6127	+0.020%	$34K	$359K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6130	+0.075%	$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	0.6128	+0.031%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6128	+0.031%	$28K	$546K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6136	+0.158%	$65K	$509K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6129	+0.052%	$1.7M	$3.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0120%	4h	0.6119	−0.106%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0144%	4h	0.6124	−0.023%	$4.8M	$11.7M	20x	as long as short
Aevo PONS-PERP	+0.0160%	1h	0.6127	+0.021%	$382	—	3x	as long as short
Aster PONSUSDT	+0.0163%	4h	0.6122	−0.054%	$1.1M	$2.2M	20x	as long as short
Lighter PONS	+0.0240%	1h	0.6123	−0.047%	$1.7M	$922K	3x	as long as short
MEXC PONS_USDT	+0.0302%	4h	0.6124	−0.029%	$8.1M	$4.9M	20x	as long as short
Binance PONSUSDT	+0.0304%	4h	0.6125	−0.005%	$40.1M	$98.7M	20x	as long as short
Extended PONS-USDshort	+0.0304%	1h	0.6121	−0.081%	$253K	$682K	5x
BingX PONS-USDT	+0.0308%	4h	0.6122	−0.062%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0313%	4h	0.6129	+0.047%	$21K	$294K	10x	as long as short
BloFin PONS-USDT	+0.0545%	4h	0.6130	+0.069%	$1.8M	$1.0M	20x	as long as short
Polymarket Perps PONS-USDlong	+0.0665%	1h	0.6126	long leg	$42K	$1.7M	3x
Pacifica PONS	+0.0899%	1h	0.6124	−0.037%	$48K	$96K	3x	as long as short
Hyperliquid PONS	+0.0903%	1h	0.6124	−0.028%	$62.2M	$30.4M	3x	as long as short
Phoenix PONS	+0.1307%	1h	0.6126	+0.002%	$31K	$102K	3x	as long as short
Gate PONS_USDT	+0.2294%	4h	0.6118	−0.127%	$5.4M	$6.3M	20x	as long as short