Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0395%/8h= +43.3% APRpaid last 24h −0.054%

Price spread now: Gate against Polymarket Perps−0.096%7-day average +0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$640.643% of the position

Long on Polymarket Perps Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.088%−$9 on $10k

Price spread, last 7 days+0.054%+$5 · spread now −0.096%, 7d avg +0.017%

Together, before fees−0.034%−$3 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 0.113% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread −0.096% now, against its 7-day average of +0.017%). If the spread goes back, that is −$11 on $10k: about 23 hours of funding at the current rate (+$12 a day). Mind the row above: over the last 7 days funding on this pair cost −0.088%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.088% in total (about -4.6% 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	0.5911	0.0369	pay 0.0046% / 1h	16m 08s	$37K	$1.8M	3x
Short	Gate PONS_USDT	0.5905	0.0764	get 0.0382% / 4h	2h 16m	$5.2M	$6.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.096%Rate

Funding earned: $83.01
Price spread: −0.096% → +0.017%: −$11.32
Slippage, 4 orders: −$41.29
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $7.4
Costs to cover: 0.643%
Break-even: 6.4 days

Slippage from Polymarket Perps: live order book, 2 min ago; Gate: live order book, 2 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	2.54 bp	7.0 bp −$7	7.5 bp −$75	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	4.24 bp	23.5 bp −$23	62.6 bp −$626	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	0.5903	−0.135%	$216K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+0.151%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5910	−0.012%	$21K	$444K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5905	−0.096%	$17.7M	$31.8M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5907	−0.063%	$13.4M	$56.2M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5905	−0.102%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5908	−0.051%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5901	−0.170%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5904	−0.113%	$34K	$334K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5917	+0.108%	$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	0.5910	−0.008%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5908	−0.039%	$27K	$549K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5908	−0.052%	$64K	$504K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5901	−0.164%	$1.6M	$3.3M	20x	as long as short
Nado PONS-PERP	+0.0103%	1h	0.5911	+0.002%	$89K	$103K	5x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5910	−0.007%	$368	—	3x	as long as short
Extended PONS-USD	+0.0176%	1h	0.5910	−0.008%	$106K	$533K	5x	as long as short
MEXC PONS_USDT	+0.0176%	4h	0.5910	−0.012%	$7.5M	$5.2M	20x	as long as short
Binance PONSUSDT	+0.0177%	4h	0.5912	+0.018%	$38.4M	$98.3M	20x	as long as short
BingX PONS-USDT	+0.0180%	4h	0.5906	−0.080%	—	$3.1M	—	as long as short
Aster PONSUSDT	+0.0189%	4h	0.5907	−0.066%	$1.1M	$2.2M	20x	as long as short
edgeX PONSUSDC	+0.0191%	4h	0.5906	−0.085%	$21K	$293K	10x	as long as short
Polymarket Perps PONS-USDlong	+0.0369%	1h	0.5911	long leg	$37K	$1.8M	3x
BloFin PONS-USDT	+0.0417%	4h	0.5910	−0.012%	$1.7M	$967K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5908	−0.050%	$47K	$103K	3x	as long as short
Hyperliquid PONS	+0.0495%	1h	0.5911	−0.002%	$59.2M	$30.1M	3x	as long as short
Lighter RH PONS	+0.0592%	1h	0.5910	−0.007%	$416K	$2.6M	3x	as long as short
Gate PONS_USDTshort	+0.0764%	4h	0.5905	−0.096%	$5.2M	$6.8M	20x
Lighter PONS	+0.1016%	1h	0.5913	+0.044%	$1.7M	$889K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5907	−0.068%	$30K	$86K	3x	as long as short