Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0418%/8h= +45.8% APRpaid last 24h +0.050%

Price spread now: Polymarket Perps against MEXC+0.367%49s7-day average +0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$9as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$170.174% of the position

Long on MEXC Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.081%+$8 on $10k

Price spread, last 4 days (all we have)+1.088%+$109 · spread now +0.367%, 7d avg +0.028%

Together, before fees+1.170%+$117 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Polymarket Perps is 0.339% dearer against MEXC than usual: you sell high and buy low: +$34 more if the spread goes back to its 7-day average of +0.028%. The two prices were read 49 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 0.081% in total (about 4.2% 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	MEXC PONS_USDT	0.6073	0.0388	pay 0.0194% / 4h	3h 03m	$7.9M	$4.9M	20x
Short	Polymarket Perps PONS-USD	0.6095	0.0806	get 0.0101% / 1h	3m 42s	$47K	$1.6M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against MEXC. 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 MEXCbpFee Polymarket PerpsbpOrdersPrice spread, now +0.367%Rate

Funding earned: $87.81
Price spread: +0.367% → +0.028%: $33.91
Slippage, 4 orders: −$9.43
Fee MEXC: 0 bp × 2 orders: $0
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $104.29
Costs to cover: 0.174%
Break-even: from the start

Slippage from MEXC: live order book, 4 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 MEXC live order book, 4 min ago	0.81 bp	2.2 bp −$2	10.4 bp −$104	299.0 bp −$29.9K	doesn't fit
Sell Polymarket Perps live order book, 5 min ago	2.53 bp	6.7 bp −$7	7.3 bp −$73	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 −0.0033%	1h	0.6089	+0.266%	$241K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.704%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6097	+0.395%	$20K	$414K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6105	+0.533%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6122	+0.813%	$34K	$356K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6091	+0.305%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6102	+0.482%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6092	+0.310%	$26K	$534K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6104	+0.512%	$65K	$509K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6088	+0.247%	$1.7M	$3.2M	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH PONS	+0.0136%	1h	0.6072	−0.018%	$427K	$2.6M	3x	as long as short
Aevo PONS-PERP	+0.0176%	1h	0.6085	+0.204%	$379	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0229%	4h	0.6069	−0.066%	$14.0M	$55.9M	20x	as long as short
KuCoin PONSUSDTM	+0.0236%	4h	0.6070	−0.041%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0286%	4h	0.6076	+0.048%	$4.7M	$11.3M	20x	as long as short
Aster PONSUSDT	+0.0326%	4h	0.6079	+0.091%	$1.1M	$2.0M	20x	as long as short
MEXC PONS_USDTlong	+0.0388%	4h	0.6073	long leg	$7.9M	$4.9M	20x
Extended PONS-USD	+0.0392%	1h	0.6083	+0.160%	$252K	$676K	5x	as long as short
Binance PONSUSDT	+0.0397%	4h	0.6075	+0.033%	$40.0M	$96.0M	20x	as long as short
edgeX PONSUSDC	+0.0409%	4h	0.6139	+1.082%	$21K	$292K	10x	as long as short
Lighter PONS	+0.0448%	1h	0.6073	−0.002%	$1.7M	$946K	3x	as long as short
BingX PONS-USDT	+0.0588%	4h	0.6077	+0.066%	—	$3.1M	—	as long as short
Nado PONS-PERP	+0.0590%	1h	0.6088	+0.253%	$105K	$115K	5x	as long as short
Bybit PONSUSDT	+0.0626%	4h	0.6070	−0.049%	$18.3M	$30.8M	20x	as long as short
BloFin PONS-USDT	+0.0639%	4h	0.6081	+0.132%	$1.8M	$987K	20x	as long as short
Pacifica PONS	+0.0665%	1h	0.6072	−0.020%	$48K	$78K	3x	as long as short
Polymarket Perps PONS-USDshort	+0.0806%	1h	0.6095	+0.367%	$47K	$1.6M	3x
Hyperliquid PONS	+0.0856%	1h	0.6075	+0.033%	$61.8M	$28.9M	3x	as long as short
Gate PONS_USDT	+0.1484%	4h	0.6079	+0.099%	$5.3M	$6.2M	20x	as long as short
Phoenix PONS	+0.1608%	1h	0.6136	+1.037%	$32K	$113K	3x	as long as short