Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0449%/8h= −49.1% APRpaid last 24h −0.050%

Price spread now: MEXC against Polymarket Perps−0.031%7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$240.243% of the position

Long on Polymarket Perps Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.081%−$8 on $10k

Price spread, last 4 days (all we have)−1.424%−$142 · spread now −0.031%, 7d avg −0.028%

Together, before fees−1.506%−$151 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.028%, so right now this pair is about funding alone: −$13 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 -0.081% in total (about -4.2% 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	0.6094	0.0781	pay 0.0098% / 1h	39m 26s	$43K	$1.6M	3x
Short	MEXC PONS_USDT	0.6092	0.0332	get 0.0166% / 4h	3h 39m	$7.9M	$4.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.031%Rate

Funding earned: −$94.21
Price spread: −0.031% → −0.028%: −$0.31
Slippage, 4 orders: −$16.26
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee MEXC: 0 bp × 2 orders: $0
Net: −$118.78
Costs to cover: 0.243%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 4 min ago; MEXC: 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 Polymarket Perps live order book, 4 min ago	2.88 bp	6.9 bp −$7	7.2 bp −$72	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	0.82 bp	5.2 bp −$5	13.5 bp −$135	433.1 bp −$43.3K	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 −0.0033%	1h	0.6073	−0.346%	$241K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−2.041%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6096	+0.034%	$432K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6092	−0.031%	$20K	$416K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6080	−0.235%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6080	−0.231%	$33K	$357K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6095	+0.016%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6090	−0.059%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6095	+0.018%	$28K	$552K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6094	−0.003%	$65K	$511K	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	0.6090	−0.064%	$1.7M	$3.2M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0118%	4h	0.6091	−0.048%	$13.8M	$57.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0164%	4h	0.6091	−0.048%	$1.8M	$3.8M	20x	as long as short
Aevo PONS-PERP	+0.0168%	1h	0.6091	−0.042%	$379	—	3x	as long as short
Bitget PONSUSDT	+0.0210%	4h	0.6094	+0.007%	$4.7M	$11.5M	20x	as long as short
Aster PONSUSDT	+0.0218%	4h	0.6095	+0.015%	$1.1M	$2.2M	20x	as long as short
MEXC PONS_USDTshort	+0.0332%	4h	0.6092	−0.031%	$7.9M	$4.8M	20x
Binance PONSUSDT	+0.0333%	4h	0.6094	+0.002%	$39.9M	$97.4M	20x	as long as short
Extended PONS-USD	+0.0336%	1h	0.6096	+0.030%	$252K	$683K	5x	as long as short
edgeX PONSUSDC	+0.0344%	4h	0.6082	−0.193%	$21K	$292K	10x	as long as short
Lighter PONS	+0.0512%	1h	0.6096	+0.034%	$1.7M	$896K	3x	as long as short
Gate PONS_USDT	+0.0514%	4h	0.6086	−0.130%	$5.3M	$6.2M	20x	as long as short
BloFin PONS-USDT	+0.0573%	4h	0.6088	−0.097%	$1.7M	$1.0M	20x	as long as short
Nado PONS-PERP	+0.0593%	1h	0.6095	+0.018%	$105K	$116K	5x	as long as short
Bybit PONSUSDT	+0.0660%	4h	0.6089	−0.080%	$18.3M	$31.1M	20x	as long as short
Pacifica PONS	+0.0665%	1h	0.6097	+0.053%	$48K	$87K	3x	as long as short
BingX PONS-USDT	+0.0740%	4h	0.6097	+0.051%	—	$3.1M	—	as long as short
Polymarket Perps PONS-USDlong	+0.0781%	1h	0.6094	long leg	$43K	$1.6M	3x
Hyperliquid PONS	+0.0926%	1h	0.6095	+0.023%	$62.0M	$29.2M	3x	as long as short
Phoenix PONS	+0.1608%	1h	0.6085	−0.154%	$31K	$113K	3x	as long as short