NBIS

Funding pays, the price is against you. Polymarket Perps is 0.097% cheaper against Gate than usual: you would sell low and buy high (spread −0.127% now, against its 7-day average of −0.030%). If the spread goes back, that is −$10 on $10k: about 16 hours of funding at the current rate (+$15 a day). Mind the row above: over the last 7 days funding on this pair cost −0.063%, so the current rate has only just turned in your favour. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.063% in total (about -3.3% 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.