PONS

Alert

Funding spread now, next payment 16:00 UTC+0.0525%/8h

next payment, per $10,000+$0.66paid, last 24h+0.037%paid, last 7 days−0.055%to open and close $10k−$28

Long on Polymarket Perps Short on Hyperliquid

The current rate is far above what this pair has been paying: over the last 7 days it paid -0.055% in total (about -2.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.66 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	Polymarket Perps PONS-USD	0.6208	0.0536	pay 0.0067% / 1h	16m 07s	$67K	$1.8M	3x
Short	Hyperliquid PONS	0.6207	0.1061	get 0.0133% / 1h	16m 07s	$63.1M	$26.6M	3x

Funding history

latest

Range statsloading…

Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee Polymarket PerpsbpFee HyperliquidbpOrdersRate

Funding earned: $110.23
Slippage, 4 orders: −$10.86
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $82.37
Break-even: 1.8 days

Slippage from Polymarket Perps: live order book, 4 min ago; Hyperliquid: live order book, 9 min ago.

Price risk

price view

Price gap now: −0.013%
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 Polymarket Perps live order book, 4 min ago	1.04 bp	5.0 bp −$5	5.3 bp −$53	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 9 min ago	0.81 bp	6.3 bp −$6	doesn't fit	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
Gate PONS_USDT	+0.0014%	4h	$5.5M	$7.3M	20x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0032% / S −0.0031%	1h	$224K	—	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	$19K	$463K	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	$39K	$318K	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	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	$28K	$472K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	$66K	$496K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	$1.7M	$3.3M	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
OKX PONS-USDT-SWAP	+0.0142%	4h	$14.4M	$54.8M	20x	as long as short
Aevo PONS-PERP	+0.0216%	1h	$387	—	3x	as long as short
Aster PONSUSDT	+0.0238%	4h	$1.1M	$2.2M	20x	as long as short
KuCoin PONSUSDTM	+0.0336%	4h	$1.8M	$3.1M	20x	as long as short
Lighter RH PONS	+0.0376%	1h	$432K	$2.2M	3x	as long as short
Bitget PONSUSDT	+0.0408%	4h	$4.8M	$10.8M	20x	as long as short
Pacifica PONS	+0.0472%	1h	$50K	$166K	3x	as long as short
Polymarket Perps PONS-USDlong	+0.0536%	1h	$67K	$1.8M	3x
Binance PONSUSDT	+0.0549%	4h	$41.4M	$93.1M	20x	as long as short
Extended PONS-USD	+0.0552%	1h	$93K	$533K	5x	as long as short
MEXC PONS_USDT	+0.0558%	4h	$7.9M	$5.1M	20x	as long as short
Variational Omni PONS	+0.0558%	4h	$1.7M	$3.5M	—	as long as short
edgeX PONSUSDC	+0.0560%	4h	$21K	$289K	10x	as long as short
BingX PONS-USDT	+0.0628%	4h	—	$3.1M	—	as long as short
Nado PONS-PERP	+0.0635%	1h	$112K	$67K	5x	as long as short
Bybit PONSUSDT	+0.0648%	4h	$19.8M	$27.1M	20x	as long as short
BloFin PONS-USDT	+0.0799%	4h	$1.9M	$910K	20x	as long as short
Lighter PONS	+0.1000%	1h	$1.8M	$772K	3x	as long as short
Hyperliquid PONSshort	+0.1061%	1h	$63.1M	$26.6M	3x
Phoenix PONS	+0.1489%	1h	$25K	$51K	3x	as long as short