Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0203%/8h= +22.2% APRpaid last 24h +0.050%

Price spread now: Polymarket Perps against Binance−0.128%7-day average −0.082% · you buy dearer than you sell

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$400.397% of the position

Long on Binance Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.071%+$7 on $10k

Price spread, last 7 days+0.071%+$7 · spread now −0.128%, 7d avg −0.082%

Together, before fees+0.141%+$14 on $10k · with fees, hour by hour

Funding pays, the price is against you. Polymarket Perps is 0.046% cheaper against Binance than usual: you would sell low and buy high (spread −0.128% now, against its 7-day average of −0.082%). If the spread goes back, that is −$5 on $10k: about 18 hours of funding at the current rate (+$6 a day). At the pace of the last 7 days (+0.071% in total) that is about 4.6 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.071% in total (about 3.7% 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.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PONSUSDT	0.5869	0.0167	pay 0.0084% / 4h	2h 06m	$38.1M	$98.3M	20x
Short	Polymarket Perps PONS-USD	0.5862	0.0370	get 0.0046% / 1h	6m 10s	$37K	$1.8M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Binance. 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 BinancebpFee Polymarket PerpsbpOrdersPrice spread, now −0.128%Rate

Funding earned: $42.53
Price spread: −0.128% → −0.082%: −$4.59
Slippage, 4 orders: −$21.73
Fee Binance: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$1.79
Costs to cover: 0.397%
Break-even: 7.3 days

Slippage from Binance: live order book, 7 min ago; Polymarket Perps: live order book, 2 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 Binance live order book, 7 min ago	0.85 bp	13.5 bp −$13	50.8 bp −$508	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 2 min ago	2.12 bp	6.9 bp −$7	7.8 bp −$78	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	0.5858	−0.189%	$215K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+0.855%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5858	−0.194%	$21K	$442K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5867	−0.041%	$17.5M	$31.9M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5867	−0.041%	$13.3M	$55.9M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5857	−0.213%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5868	−0.027%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5875	+0.093%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5887	+0.305%	$34K	$338K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5869	−0.003%	$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	0.5858	−0.187%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5868	−0.027%	$27K	$548K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5876	+0.113%	$63K	$505K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5865	−0.075%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0120%	1h	0.5864	−0.085%	$365	—	3x	as long as short
Nado PONS-PERP	+0.0124%	1h	0.5859	−0.173%	$89K	$103K	5x	as long as short
Aster PONSUSDT	+0.0149%	4h	0.5856	−0.230%	$1.1M	$2.2M	20x	as long as short
MEXC PONS_USDT	+0.0166%	4h	0.5867	−0.041%	$7.5M	$5.2M	20x	as long as short
Binance PONSUSDTlong	+0.0167%	4h	0.5869	long leg	$38.1M	$98.3M	20x
Extended PONS-USD	+0.0168%	1h	0.5864	−0.088%	$105K	$533K	5x	as long as short
edgeX PONSUSDC	+0.0173%	4h	0.5886	+0.290%	$21K	$292K	10x	as long as short
BingX PONS-USDT	+0.0180%	4h	0.5864	−0.092%	—	$3.1M	—	as long as short
Polymarket Perps PONS-USDshort	+0.0370%	1h	0.5862	−0.128%	$37K	$1.8M	3x
BloFin PONS-USDT	+0.0407%	4h	0.5860	−0.160%	$1.7M	$959K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5858	−0.186%	$47K	$103K	3x	as long as short
Lighter RH PONS	+0.0488%	1h	0.5865	−0.075%	$415K	$2.6M	3x	as long as short
Hyperliquid PONS	+0.0514%	1h	0.5863	−0.107%	$58.8M	$30.0M	3x	as long as short
Gate PONS_USDT	+0.0712%	4h	0.5857	−0.211%	$5.1M	$6.8M	20x	as long as short
Lighter PONS	+0.0952%	1h	0.5870	+0.017%	$1.7M	$900K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5886	+0.290%	$30K	$86K	3x	as long as short