PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0564%/8h= −61.7% APRnext payment −$0.70 per $10,000 · paid last 24h −0.148%

Price spread now: SoDEX against Polymarket Perps−0.137%7-day average −0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$156as in the Price arb table

costs, in and out, $10k−$1431.430% of the position

Long on Polymarket Perps Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.519%−$52 on $10k

Price spread, last 4 days (all we have)+0.301%+$30 · spread now −0.137%, 7d avg −0.003%

Together, before fees−0.217%−$22 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and SoDEX is 0.134% 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 −0.003%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps PONS-USD	0.5925	0.0664	pay 0.0083% / 1h	58m 21s	$89K	$1.9M	3x
Short	SoDEX PONS-USD	0.5917	0.0100	get 0.0013% / 1h	58m 21s	$25K	$589K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.137%Rate

Funding earned: −$118.41
Price spread: −0.137% → −0.003%: −$13.36
Slippage, 4 orders: −$126.98
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$274.74
Costs to cover: 1.430%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 5 min ago; SoDEX: live order book, 50 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, 5 min ago	1.10 bp	5.6 bp −$6	7.4 bp −$74	doesn't fit	doesn't fit
Sell SoDEX live order book, 50 min ago	2.52 bp	66.3 bp −$66	doesn't fit	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 +0.0033% / S −0.0032%	1h	0.5910	−0.261%	$235K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+0.751%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5921	−0.059%	$409K	$2.5M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5924	−0.017%	$21K	$422K	20x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5923	−0.039%	$2K	$3K	10x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5925	0.000%	$69K	$131K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5913	−0.201%	$29K	$329K	5x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5924	−0.024%	—	$1.3M	10x	as long as short
SoDEX PONS-USDshort	+0.0100%	1h	0.5917	−0.137%	$25K	$589K	3x
HTX PONS-USDT	+0.0100%	4h	0.5923	−0.032%	$64K	$524K	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	0.5914	−0.186%	$1.6M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0232%	1h	0.5917	−0.143%	$369	—	3x	as long as short
Gate PONS_USDT	+0.0264%	4h	0.5919	−0.101%	$5.3M	$6.3M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0420%	4h	0.5913	−0.203%	$13.4M	$55.7M	20x	as long as short
Hyperliquid PONS	+0.0462%	1h	0.5923	−0.041%	$60.2M	$29.6M	3x	as long as short
Aster PONSUSDT	+0.0477%	4h	0.5923	−0.042%	$1.1M	$2.2M	20x	as long as short
Pacifica PONS	+0.0556%	1h	0.5922	−0.052%	$45K	$69K	3x	as long as short
Binance PONSUSDT	+0.0582%	4h	0.5918	−0.118%	$37.3M	$98.5M	20x	as long as short
Extended PONS-USD	+0.0584%	1h	0.5915	−0.164%	$101K	$811K	5x	as long as short
MEXC PONS_USDT	+0.0588%	4h	0.5921	−0.068%	$7.5M	$4.7M	20x	as long as short
edgeX PONSUSDC	+0.0606%	4h	0.5921	−0.065%	$20K	$296K	10x	as long as short
Bitget PONSUSDT	+0.0650%	4h	0.5922	−0.052%	$4.7M	$12.2M	20x	as long as short
Variational Omni PONS	+0.0651%	4h	0.5917	−0.128%	$1.4M	$4.1M	—	as long as short
Polymarket Perps PONS-USDlong	+0.0664%	1h	0.5925	long leg	$89K	$1.9M	3x
KuCoin PONSUSDTM	+0.0684%	4h	0.5920	−0.078%	$1.6M	$3.8M	20x	as long as short
BloFin PONS-USDT	+0.0829%	4h	0.5919	−0.101%	$1.7M	$959K	20x	as long as short
BingX PONS-USDT	+0.0898%	4h	0.5918	−0.118%	—	$3.0M	—	as long as short
Bybit PONSUSDT	+0.0928%	4h	0.5913	−0.203%	$17.6M	$31.5M	20x	as long as short
Lighter PONS	+0.1000%	1h	0.5923	−0.030%	$1.7M	$822K	3x	as long as short
Phoenix PONS	+0.1719%	1h	0.5909	−0.277%	$45K	$120K	3x	as long as short