Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.126%

Price spread now: OKX against Polymarket Perps−0.056%7-day average +0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$360.359% of the position

Long on Polymarket Perps Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.306%−$31 on $10k

Price spread, last 7 days+0.012%+$1 · spread now −0.056%, 7d avg +0.026%

Together, before fees−0.293%−$29 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and OKX is 0.082% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.026%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps PONS-USD	0.5910	0.0453	pay 0.0057% / 1h	47m 14s	$91K	$1.9M	3x
Short	OKX PONS-USDT-SWAP	0.5907	0.0413	get 0.0207% / 4h	1h 47m	$13.4M	$55.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Polymarket Perps. 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 Polymarket PerpsbpFee OKXbpOrdersPrice spread, now −0.056%Rate

Funding earned: −$8.48
Price spread: −0.056% → +0.026%: −$8.16
Slippage, 4 orders: −$17.85
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$52.49
Costs to cover: 0.359%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 1 min ago; OKX: live order book, 2 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 Polymarket Perps live order book, 1 min ago	2.20 bp	7.7 bp −$8	9.6 bp −$96	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	1.69 bp	12.1 bp −$12	25.6 bp −$256	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 −0.0032%	1h	0.5903	−0.120%	$235K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+1.002%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5910	−0.005%	$403K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5908	−0.039%	$21K	$420K	20x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5915	+0.083%	$2K	$3K	10x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5915	+0.080%	$69K	$131K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5908	−0.041%	$29K	$320K	5x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5909	−0.014%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5910	+0.003%	$25K	$586K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5918	+0.127%	$64K	$525K	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex PONSUSDT	+0.0100%	4h	0.5912	+0.029%	$1.6M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0224%	1h	0.5913	+0.037%	$368	—	3x	as long as short
Gate PONS_USDT	+0.0270%	4h	0.5906	−0.073%	$5.3M	$6.3M	20x	as long as short
Hyperliquid PONS	+0.0310%	1h	0.5909	−0.019%	$60.0M	$29.6M	3x	as long as short
OKX PONS-USDT-SWAPshort	+0.0413%	4h	0.5907	−0.056%	$13.4M	$55.7M	20x
Polymarket Perps PONS-USDlong	+0.0453%	1h	0.5910	long leg	$91K	$1.9M	3x
Aster PONSUSDT	+0.0470%	4h	0.5907	−0.051%	$1.1M	$2.2M	20x	as long as short
Extended PONS-USD	+0.0552%	1h	0.5908	−0.047%	$101K	$811K	5x	as long as short
Binance PONSUSDT	+0.0554%	4h	0.5911	+0.009%	$37.2M	$98.6M	20x	as long as short
Pacifica PONS	+0.0556%	1h	0.5909	−0.025%	$45K	$68K	3x	as long as short
MEXC PONS_USDT	+0.0558%	4h	0.5911	+0.012%	$7.5M	$4.7M	20x	as long as short
edgeX PONSUSDC	+0.0571%	4h	0.5914	+0.065%	$20K	$295K	10x	as long as short
Variational Omni PONS	+0.0644%	4h	0.5912	+0.021%	$1.4M	$4.1M	—	as long as short
KuCoin PONSUSDTM	+0.0658%	4h	0.5911	+0.007%	$1.6M	$3.8M	20x	as long as short
Bitget PONSUSDT	+0.0662%	4h	0.5912	+0.025%	$4.7M	$12.2M	20x	as long as short
BloFin PONS-USDT	+0.0794%	4h	0.5912	+0.029%	$1.7M	$958K	20x	as long as short
BingX PONS-USDT	+0.0806%	4h	0.5907	−0.056%	—	$3.0M	—	as long as short
Lighter PONS	+0.0816%	1h	0.5912	+0.030%	$1.6M	$828K	3x	as long as short
Bybit PONSUSDT	+0.0832%	4h	0.5908	−0.039%	$17.6M	$31.4M	20x	as long as short
Phoenix PONS	+0.1472%	1h	0.5912	+0.025%	$45K	$127K	3x	as long as short