Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0728%/8h= +79.8% APRpaid last 24h +0.014%

Price spread now: Polymarket Perps against Gate−0.008%7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$630.632% of the position

Long on Gate Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.006%−$1 on $10k

Price spread, last 7 days+0.039%+$4 · spread now −0.008%, 7d avg −0.016%

Together, before fees+0.033%+$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.016%, so right now this pair is about funding alone: +$22 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.006% in total (about -0.3% 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.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PONS_USDT	0.5931	0.0100	pay 0.0050% / 4h	2h 53m	$5.2M	$6.2M	20x
Short	Polymarket Perps PONS-USD	0.5930	0.0828	get 0.0104% / 1h	53m 11s	$88K	$1.7M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Gate. 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 GatebpFee Polymarket PerpsbpOrdersPrice spread, now −0.008%Rate

Funding earned: $152.98
Price spread: −0.008% → −0.016%: $0.72
Slippage, 4 orders: −$40.19
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $90.52
Costs to cover: 0.632%
Break-even: 2.9 days

Slippage from Gate: live order book, 5 min ago; Polymarket Perps: live order book, 5 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 Gate live order book, 5 min ago	4.23 bp	19.6 bp −$20	168.7 bp −$1,687	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 5 min ago	2.96 bp	7.0 bp −$7	8.9 bp −$89	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	0.5923	−0.143%	$235K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+0.649%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5930	−0.015%	$415K	$2.5M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5933	+0.034%	$21K	$417K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5928	−0.053%	$69K	$130K	5x	as long as short
Gate PONS_USDTlong	+0.0100%	4h	0.5931	long leg	$5.2M	$6.2M	20x
ApeX Omni PONSUSDT	+0.0100%	1h	0.5942	+0.194%	$34K	$335K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5940	+0.160%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5930	−0.020%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5935	+0.067%	$26K	$545K	3x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PONS-USDT	+0.0100%	4h	0.5945	+0.229%	$64K	$512K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5933	+0.034%	$1.6M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0240%	1h	0.5940	+0.149%	$370	—	3x	as long as short
Hyperliquid PONS	+0.0340%	1h	0.5933	+0.034%	$60.1M	$29.0M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0385%	4h	0.5939	+0.135%	$13.5M	$54.9M	20x	as long as short
Aster PONSUSDT	+0.0509%	4h	0.5933	+0.030%	$1.1M	$2.2M	20x	as long as short
Lighter PONS	+0.0512%	1h	0.5935	+0.067%	$1.6M	$886K	3x	as long as short
Variational Omni PONS	+0.0518%	4h	0.5941	+0.176%	$1.4M	$4.1M	—	as long as short
Bitget PONSUSDT	+0.0550%	4h	0.5936	+0.078%	$4.7M	$11.8M	20x	as long as short
Binance PONSUSDT	+0.0621%	4h	0.5933	+0.030%	$38.8M	$94.8M	20x	as long as short
MEXC PONS_USDT	+0.0622%	4h	0.5936	+0.084%	$7.6M	$4.7M	20x	as long as short
Extended PONS-USD	+0.0624%	1h	0.5933	+0.030%	$106K	$807K	5x	as long as short
edgeX PONSUSDC	+0.0632%	4h	0.5933	+0.040%	$20K	$295K	10x	as long as short
Pacifica PONS	+0.0715%	1h	0.5928	−0.044%	$46K	$68K	3x	as long as short
KuCoin PONSUSDTM	+0.0734%	4h	0.5934	+0.042%	$1.6M	$3.8M	20x	as long as short
BingX PONS-USDT	+0.0738%	4h	0.5936	+0.084%	—	$3.0M	—	as long as short
Bybit PONSUSDT	+0.0781%	4h	0.5938	+0.118%	$17.8M	$31.0M	20x	as long as short
Polymarket Perps PONS-USDshort	+0.0828%	1h	0.5930	−0.008%	$88K	$1.7M	3x
BloFin PONS-USDT	+0.0861%	4h	0.5931	0.000%	$1.7M	$944K	20x	as long as short
Phoenix PONS	+0.1719%	1h	0.5915	−0.268%	$45K	$121K	3x	as long as short