PONS

Alert

Funding spread now, next payment 14:00 UTC−0.1375%/8h

next payment, per $10,000−$1.72paid, last 24h−0.235%paid, last 7 days−1.516%to open and closeno order book

Long on Phoenix Short on Polymarket Perps

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix PONS	0.6328	0.1767	pay 0.0221% / 1h	47m 50s	$26K	$45K	3x
Short	Polymarket Perps PONS-USD	0.6354	0.0393	get 0.0049% / 1h	47m 50s	$64K	$1.7M	3x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee PhoenixbpFee Polymarket PerpsbpOrdersRate

Funding earned: −$288.66
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$303.66
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Polymarket Perps: live order book, 2 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.400%
Avg gap 7d: —

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 Phoenix no order-book sample	—	—	—	—	—
Sell Polymarket Perps live order book, 2 min ago	1.26 bp	7.1 bp −$7	8.5 bp −$85	doesn't fit	doesn't fit

Phoenix: 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 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
ApeX Omni PONSUSDT	−0.0047%	1h	$40K	$320K	5x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0032% / S −0.0032%	1h	$227K	—	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
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	$29K	$463K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	$66K	$492K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	$1.8M	$3.4M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0238%	4h	$15.2M	$56.5M	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Aevo PONS-PERP	+0.0256%	1h	$395	—	3x	as long as short
Lighter RH PONS	+0.0304%	1h	$451K	$2.2M	3x	as long as short
Polymarket Perps PONS-USDshort	+0.0393%	1h	$64K	$1.7M	3x
Aster PONSUSDT	+0.0417%	4h	$1.1M	$2.2M	20x	as long as short
Nado PONS-PERP	+0.0537%	1h	$117K	$67K	5x	as long as short
Variational Omni PONS	+0.0542%	4h	$1.8M	$3.3M	—	as long as short
KuCoin PONSUSDTM	+0.0580%	4h	$2.3M	$2.1M	20x	as long as short
Bybit PONSUSDT	+0.0684%	4h	$20.2M	$26.1M	20x	as long as short
Extended PONS-USD	+0.0688%	1h	$161K	$464K	5x	as long as short
Binance PONSUSDT	+0.0689%	4h	$42.7M	$92.5M	20x	as long as short
MEXC PONS_USDT	+0.0694%	4h	$8.2M	$4.8M	20x	as long as short
edgeX PONSUSDC	+0.0710%	4h	$22K	$288K	10x	as long as short
BingX PONS-USDT	+0.0730%	4h	—	$2.9M	—	as long as short
Bitget PONSUSDT	+0.0752%	4h	$5.0M	$10.4M	20x	as long as short
Pacifica PONS	+0.0858%	1h	$49K	$176K	3x	as long as short
Lighter PONS	+0.0864%	1h	$1.8M	$729K	3x	as long as short
BloFin PONS-USDT	+0.0935%	4h	$1.9M	$904K	20x	as long as short
Hyperliquid PONS	+0.0999%	1h	$64.4M	$25.3M	3x	as long as short
Gate PONS_USDT	+0.1166%	4h	$5.7M	$7.0M	20x	as long as short
Phoenix PONSlong	+0.1767%	1h	$26K	$45K	3x