Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0244%/8h= +26.7% APRpaid last 24h +0.153%

Price spread now: Polymarket Perps against Orderly−0.068%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Polymarket Perps is 0.068% cheaper against Orderly than usual: you would sell low and buy high (spread −0.068% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 22 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_PONS_USDC_mythos	0.6349	0.0100	pay 0.0050% / 4h	1h 54m	$2K	$4K	10x
Short	Polymarket Perps PONS-USD	0.6345	0.0344	get 0.0043% / 1h	54m 19s	$75K	$2.1M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Orderly. 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 OrderlybpFee Polymarket PerpsbpOrdersPrice spread, now −0.068%Rate

Funding earned: $51.24
Price spread: −0.068% → 0.000%: −$6.77
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $30.47
Costs to cover: 0.140%
Break-even: 2.8 days

Slippage unknown: Orderly: no order-book sample; Polymarket Perps: live order book, 3 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell Polymarket Perps live order book, 3 min ago	3.77 bp	7.8 bp −$8	120.2 bp −$1,202	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

PONS on 30 exchanges

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 −0.0030%	1h	0.6333	−0.246%	$249K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5938	−6.466%	$610	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6344	−0.079%	$23K	$405K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6340	−0.135%	$77K	$105K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6362	+0.203%	$32K	$279K	5x	as long as short
Orderly PERP_PONS_USDC_mythoslong	+0.0100%	4h	0.6349	long leg	$2K	$4K	10x
SunX PONS-USDT	+0.0100%	4h	0.6346	−0.047%	—	$888K	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6344	−0.071%	$27K	$636K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6361	+0.183%	$67K	$537K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6342	−0.110%	$1.7M	$3.2M	20x	as long as short

Show all 30 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PONS-PERP	+0.0240%	1h	0.6346	−0.042%	$395	—	3x	as long as short
Polymarket Perps PONS-USDshort	+0.0344%	1h	0.6345	−0.068%	$75K	$2.1M	3x
Lighter RH PONS	+0.0352%	1h	0.6343	−0.096%	$448K	$2.6M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0389%	4h	0.6341	−0.126%	$14.4M	$60.2M	20x	as long as short
KuCoin PONSUSDTM	+0.0472%	4h	0.6346	−0.041%	$1.8M	$4.3M	20x	as long as short
Aster PONSUSDT	+0.0540%	4h	0.6344	−0.078%	$1.2M	$2.2M	20x	as long as short
Hyperliquid PONS	+0.0548%	1h	0.6347	−0.030%	$65.2M	$30.9M	3x	as long as short
Pacifica PONS	+0.0616%	1h	0.6340	−0.144%	$46K	$76K	3x	as long as short
Lighter PONS	+0.0640%	1h	0.6346	−0.047%	$1.8M	$852K	3x	as long as short
Variational Omni PONS	+0.0656%	4h	0.6360	+0.171%	$1.6M	$4.3M	—	as long as short
Extended PONS-USD	+0.0672%	1h	0.6343	−0.098%	$183K	$881K	5x	as long as short
MEXC PONS_USDT	+0.0672%	4h	0.6347	−0.032%	$7.9M	$4.5M	20x	as long as short
Binance PONSUSDT	+0.0673%	4h	0.6343	−0.095%	$41.7M	$101.2M	20x	as long as short
edgeX PONSUSDC	+0.0695%	4h	0.6371	+0.353%	$19K	$292K	10x	as long as short
Bitget PONSUSDT	+0.0758%	4h	0.6347	−0.035%	$5.1M	$13.6M	20x	as long as short
BingX PONS-USDT	+0.0802%	4h	0.6339	−0.158%	—	$3.1M	—	as long as short
Gate PONS_USDT	+0.0808%	4h	0.6345	−0.063%	$5.5M	$6.4M	20x	as long as short
Bybit PONSUSDT	+0.0842%	4h	0.6339	−0.158%	$19.2M	$32.6M	20x	as long as short
BloFin PONS-USDT	+0.0919%	4h	0.6355	+0.095%	$1.9M	$1.1M	20x	as long as short
Phoenix PONS	+0.1668%	1h	0.6368	+0.301%	$49K	$162K	3x	as long as short