PONS

Alert

Funding spread now, next payment 15:00 UTC−0.0632%/8h

next payment, per $10,000−$0.79paid, last 24h−0.026%paid, last 7 days+0.058%to open and closeno order book

Long on Hyperliquid Short on Polymarket Perps

The current rate is far above what this pair has been paying: over the last 7 days it paid 0.058% in total (about 3.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.79 per $10,000. 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	Hyperliquid PONS	0.6331	0.1013	pay 0.0127% / 1h	52m 30s	$64.3M	$25.2M	3x
Short	Polymarket Perps PONS-USD	0.6346	0.0382	get 0.0048% / 1h	52m 30s	$65K	$1.7M	3x

Funding history

latest

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee HyperliquidbpFee Polymarket PerpsbpOrdersRate

Funding earned: −$132.67
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$149.67
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 12 min ago; Polymarket Perps: live order book, 3 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.232%
Avg gap 7d: −0.075%

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 Hyperliquid live order book, 12 min ago	1.18 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 3 min ago	2.05 bp	6.4 bp −$6	7.6 bp −$76	doesn't fit	doesn't fit

PONS on 30 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
gTrade (Gains Network) PONS/USD	L +0.0032% / S −0.0032%	1h	$225K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	$590	$15K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	$20K	$470K	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	$40K	$319K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	$2K	$2K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	—	$1.2M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	$28K	$464K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	$66K	$491K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	$1.8M	$3.4M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0240%	4h	$15.2M	$56.7M	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Aevo PONS-PERP	+0.0256%	1h	$393	—	3x	as long as short
Polymarket Perps PONS-USDshort	+0.0382%	1h	$65K	$1.7M	3x
Aster PONSUSDT	+0.0415%	4h	$1.1M	$2.2M	20x	as long as short
Lighter RH PONS	+0.0464%	1h	$454K	$2.2M	3x	as long as short
Nado PONS-PERP	+0.0513%	1h	$116K	$67K	5x	as long as short
Variational Omni PONS	+0.0562%	4h	$1.8M	$3.3M	—	as long as short
KuCoin PONSUSDTM	+0.0580%	4h	$2.3M	$2.1M	20x	as long as short
Lighter PONS	+0.0624%	1h	$1.8M	$727K	3x	as long as short
Bybit PONSUSDT	+0.0688%	4h	$20.2M	$26.1M	20x	as long as short
Binance PONSUSDT	+0.0692%	4h	$42.7M	$92.4M	20x	as long as short
MEXC PONS_USDT	+0.0692%	4h	$8.1M	$4.8M	20x	as long as short
Extended PONS-USD	+0.0696%	1h	$226K	$399K	5x	as long as short
edgeX PONSUSDC	+0.0730%	4h	$22K	$287K	10x	as long as short
BingX PONS-USDT	+0.0742%	4h	—	$2.9M	—	as long as short
Bitget PONSUSDT	+0.0762%	4h	$5.0M	$10.3M	20x	as long as short
Pacifica PONS	+0.0858%	1h	$49K	$165K	3x	as long as short
BloFin PONS-USDT	+0.0932%	4h	$1.9M	$902K	20x	as long as short
Hyperliquid PONSlong	+0.1013%	1h	$64.3M	$25.2M	3x
Gate PONS_USDT	+0.1268%	4h	$5.7M	$7.0M	20x	as long as short
Phoenix PONS	+0.1767%	1h	$26K	$45K	3x	as long as short