Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0245%/8h= −26.8% APRpaid last 24h −0.148%

Price spread now: Orderly against Polymarket Perps+0.129%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Polymarket Perps Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Orderly is 0.129% dearer against Polymarket Perps than usual: you sell high and buy low (spread +0.129% now, against zero (this spread has no 7-day history yet)): +$13 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 42 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps PONS-USD	0.5872	0.0345	pay 0.0043% / 1h	47m 18s	$38K	$1.8M	3x
Short	Orderly PERP_PONS_USDC_mythos	0.5879	0.0100	get 0.0050% / 4h	2h 47m	$2K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.129%Rate

Funding earned: −$51.36
Price spread: +0.129% → 0.000%: $12.94
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$52.41
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Polymarket Perps: live order book, 1 min ago; Orderly: no order-book sample. Net counts fees only.

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	2.13 bp	6.1 bp −$6	6.6 bp −$66	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.5871	−0.019%	$215K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+0.812%	$609	$6K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5877	+0.094%	$395K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5873	+0.019%	$21K	$454K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5868	−0.066%	$17.7M	$31.6M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5870	−0.032%	$13.5M	$55.5M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5872	+0.003%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5873	+0.022%	$4.6M	$11.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5902	+0.505%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5913	+0.703%	$34K	$327K	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_PONS_USDC_mythosshort	+0.0100%	4h	0.5879	+0.129%	$2K	$3K	10x
SunX PONS-USDT	+0.0100%	4h	0.5871	−0.015%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5872	−0.002%	$27K	$536K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5886	+0.238%	$64K	$503K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5876	+0.070%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0120%	1h	0.5873	+0.018%	$366	—	3x	as long as short
Extended PONS-USD	+0.0152%	1h	0.5873	+0.011%	$105K	$528K	5x	as long as short
MEXC PONS_USDT	+0.0154%	4h	0.5873	+0.019%	$7.6M	$5.1M	20x	as long as short
Binance PONSUSDT	+0.0156%	4h	0.5874	+0.029%	$38.2M	$98.0M	20x	as long as short
edgeX PONSUSDC	+0.0167%	4h	0.5883	+0.196%	$21K	$294K	10x	as long as short
BingX PONS-USDT	+0.0172%	4h	0.5874	+0.036%	—	$3.1M	—	as long as short
Aster PONSUSDT	+0.0210%	4h	0.5870	−0.026%	$1.1M	$2.2M	20x	as long as short
Nado PONS-PERP	+0.0218%	1h	0.5871	−0.010%	$89K	$103K	5x	as long as short
Polymarket Perps PONS-USDlong	+0.0345%	1h	0.5872	long leg	$38K	$1.8M	3x
Gate PONS_USDT	+0.0376%	4h	0.5873	+0.019%	$5.1M	$6.8M	20x	as long as short
BloFin PONS-USDT	+0.0396%	4h	0.5878	+0.104%	$1.7M	$962K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5874	+0.040%	$46K	$102K	3x	as long as short
Hyperliquid PONS	+0.0628%	1h	0.5872	0.000%	$58.7M	$29.8M	3x	as long as short
Lighter PONS	+0.0656%	1h	0.5878	+0.106%	$1.7M	$879K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5909	+0.640%	$27K	$86K	3x	as long as short