Funding you earn now, next payment 21:00 UTC+0.0945%/8h= +103.5% APRnext payment +$1.18 per $10,000 · paid last 24h +0.257%
Price spread now: Phoenix against Polymarket Perps+0.302%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+1.510%+$151 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work for this trade now. Funding pays +$28 a day on $10k at the current rate, and Phoenix is 0.302% dearer against Polymarket Perps than usual: you sell high and buy low: +$30 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Polymarket Perps PONS-USD | 0.5903 | 0.0330 | pay 0.0041% / 1h | 52m 50s | $38K | $1.8M | 3x |
| Short | Phoenix PONS | 0.5921 | 0.1275 | get 0.0159% / 1h | 52m 50s | $27K | $86K | 3x |
Polymarket Perps PONS-USD
Phoenix PONSFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $198.51
- Price spread: +0.302% → 0.000%
- $30.15
- Slippage, 4 orders
- no order book: not counted
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $213.67
- Costs to cover
- 0.150%
- Break-even
- from the start
Slippage unknown: Polymarket Perps: live order book, 1 min ago; Phoenix: 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 | 2.79 bp | 6.8 bp −$7 | 7.3 bp −$73 | doesn't fit | doesn't fit |
| Sell Phoenix no order-book sample | — | — | — | — | — |
Phoenix: 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 | 0.5910 | +0.110% | $217K | — | 150x | as long as short |
| Injective PONS/USDC PERP | +0.0066% | 1h | 0.5920 | +0.281% | $609 | $6K | 5.5x | as long as short |
| Popdex PONSUSDT | +0.0096% | 1h | 0.5903 | 0.000% | $21K | $459K | 20x | as long as short |
| Bybit PONSUSDT | +0.0100% | 4h | 0.5908 | +0.085% | $17.9M | $31.5M | 20x | as long as short |
| OKX PONS-USDT-SWAP | +0.0100% | 4h | 0.5907 | +0.068% | $13.5M | $55.9M | 20x | as long as short |
| KuCoin PONSUSDTM | +0.0100% | 4h | 0.5913 | +0.166% | $1.7M | $3.7M | 20x | as long as short |
| Bitget PONSUSDT | +0.0100% | 4h | 0.5912 | +0.154% | $4.6M | $11.6M | 20x | as long as short |
| Variational Omni PONS | +0.0100% | 4h | 0.5929 | +0.448% | $1.4M | $4.3M | — | as long as short |
| ApeX Omni PONSUSDT | +0.0100% | 1h | 0.5922 | +0.325% | $34K | $326K | 5x | as long as short |
| Orderly PERP_PONS_USDC_mythos | +0.0100% | 4h | 0.5916 | +0.219% | $2K | $3K | 10x | as long as short |
gTrade (Gains Network) PONS/USD
Injective PONS/USDC PERP
Popdex PONSUSDT
Bybit PONSUSDT
OKX PONS-USDT-SWAP
KuCoin PONSUSDTM
Bitget PONSUSDT
Variational Omni PONS
ApeX Omni PONSUSDT
Orderly PERP_PONS_USDC_mythosShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX PONS-USDT | +0.0100% | 4h | 0.5921 | +0.310% | — | $1.4M | 10x | as long as short |
| SoDEX PONS-USD | +0.0100% | 1h | 0.5915 | +0.203% | $27K | $534K | 3x | as long as short |
| HTX PONS-USDT | +0.0100% | 4h | 0.5936 | +0.562% | $64K | $503K | 20x | as long as short |
| Phemex PONSUSDT | +0.0100% | 4h | 0.5912 | +0.152% | $1.7M | $3.3M | 20x | as long as short |
| Lighter RH PONS | +0.0128% | 1h | 0.5914 | +0.178% | $398K | $2.6M | 3x | as long as short |
| Aevo PONS-PERP | +0.0128% | 1h | 0.5907 | +0.069% | $368 | — | 3x | as long as short |
| Binance PONSUSDT | +0.0168% | 4h | 0.5911 | +0.136% | $38.5M | $98.1M | 20x | as long as short |
| MEXC PONS_USDT | +0.0174% | 4h | 0.5916 | +0.220% | $7.7M | $5.1M | 20x | as long as short |
| Extended PONS-USD | +0.0176% | 1h | 0.5916 | +0.217% | $105K | $529K | 5x | as long as short |
| BingX PONS-USDT | +0.0190% | 4h | 0.5909 | +0.102% | — | $3.1M | — | as long as short |
| edgeX PONSUSDC | +0.0197% | 4h | 0.5922 | +0.329% | $21K | $292K | 10x | as long as short |
| Aster PONSUSDT | +0.0225% | 4h | 0.5906 | +0.043% | $1.1M | $2.2M | 20x | as long as short |
| Polymarket Perps PONS-USDlong | +0.0330% | 1h | 0.5903 | long leg | $38K | $1.8M | 3x | |
| Nado PONS-PERP | +0.0338% | 1h | 0.5899 | −0.063% | $89K | $103K | 5x | as long as short |
| Gate PONS_USDT | +0.0364% | 4h | 0.5911 | +0.136% | $5.2M | $6.7M | 20x | as long as short |
| BloFin PONS-USDT | +0.0413% | 4h | 0.5919 | +0.271% | $1.7M | $984K | 20x | as long as short |
| Pacifica PONS | +0.0474% | 1h | 0.5898 | −0.091% | $47K | $102K | 3x | as long as short |
| Hyperliquid PONS | +0.0727% | 1h | 0.5916 | +0.214% | $59.3M | $29.5M | 3x | as long as short |
| Lighter PONS | +0.1032% | 1h | 0.5917 | +0.229% | $1.7M | $879K | 3x | as long as short |
| Phoenix PONSshort | +0.1275% | 1h | 0.5921 | +0.302% | $27K | $86K | 3x |
SunX PONS-USDT
SoDEX PONS-USD
HTX PONS-USDT
Phemex PONSUSDT
Lighter RH PONS
Aevo PONS-PERP
Binance PONSUSDT
MEXC PONS_USDT
Extended PONS-USD
BingX PONS-USDT
edgeX PONSUSDC
Aster PONSUSDT
Nado PONS-PERP
Gate PONS_USDT
BloFin PONS-USDT
Pacifica PONS
Hyperliquid PONS
Lighter PONS