Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0228%/8h= −24.9% APRpaid last 24h −0.092%

Price spread now: OKX against Polymarket Perps−0.095%7-day average +0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$390.392% of the position

Long on Polymarket Perps Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.248%−$25 on $10k

Price spread, last 7 days+0.118%+$12 · spread now −0.095%, 7d avg +0.030%

Together, before fees−0.130%−$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and OKX is 0.125% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of +0.030%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps PONS-USD	0.5901	0.0328	pay 0.0041% / 1h	32m 49s	$38K	$1.8M	3x
Short	OKX PONS-USDT-SWAP	0.5895	0.0100	get 0.0050% / 4h	2h 32m	$13.4M	$56.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.095%Rate

Funding earned: −$47.83
Price spread: −0.095% → +0.030%: −$12.5
Slippage, 4 orders: −$21.24
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$99.58
Costs to cover: 0.392%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 1 min ago; OKX: 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, 1 min ago	2.20 bp	7.2 bp −$7	7.6 bp −$76	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	0.85 bp	11.8 bp −$12	31.1 bp −$311	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	0.5893	−0.123%	$216K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+0.322%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5902	+0.024%	$21K	$447K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5894	−0.112%	$17.7M	$31.8M	20x	as long as short
OKX PONS-USDT-SWAPshort	+0.0100%	4h	0.5895	−0.095%	$13.4M	$56.0M	20x
KuCoin PONSUSDTM	+0.0100%	4h	0.5897	−0.064%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5899	−0.022%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5865	−0.598%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5866	−0.585%	$34K	$330K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5907	+0.105%	$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	0.5899	−0.034%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5899	−0.019%	$27K	$549K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5909	+0.136%	$64K	$504K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5895	−0.095%	$1.7M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5899	−0.027%	$368	—	3x	as long as short
Nado PONS-PERP	+0.0130%	1h	0.5901	−0.001%	$89K	$103K	5x	as long as short
BingX PONS-USDT	+0.0154%	4h	0.5897	−0.061%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0162%	4h	0.5897	−0.055%	$21K	$293K	10x	as long as short
MEXC PONS_USDT	+0.0182%	4h	0.5898	−0.044%	$7.5M	$5.2M	20x	as long as short
Binance PONSUSDT	+0.0182%	4h	0.5899	−0.029%	$38.3M	$98.3M	20x	as long as short
Extended PONS-USD	+0.0184%	1h	0.5897	−0.056%	$105K	$533K	5x	as long as short
Aster PONSUSDT	+0.0223%	4h	0.5902	+0.027%	$1.1M	$2.2M	20x	as long as short
Gate PONS_USDT	+0.0240%	4h	0.5894	−0.112%	$5.1M	$6.8M	20x	as long as short
Polymarket Perps PONS-USDlong	+0.0328%	1h	0.5901	long leg	$38K	$1.8M	3x
BloFin PONS-USDT	+0.0422%	4h	0.5900	−0.010%	$1.7M	$968K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5898	−0.037%	$47K	$103K	3x	as long as short
Hyperliquid PONS	+0.0537%	1h	0.5901	+0.007%	$58.9M	$30.0M	3x	as long as short
Lighter RH PONS	+0.0592%	1h	0.5901	+0.005%	$394K	$2.6M	3x	as long as short
Lighter PONS	+0.1128%	1h	0.5905	+0.073%	$1.7M	$881K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5899	−0.027%	$27K	$86K	3x	as long as short