Funding you earn now, next payment 05:00 UTC+0.1280%/8h= +140.2% APRnext payment +$1.60 per $10,000 · paid last 24h +0.245%
Price spread now: Phoenix against Polymarket Perps+0.005%7-day average −0.001% · you sell dearer than you buy
Net, funding: paid 7d − costs+$97as in the Funding arb table
Net, price: spread back to 7d avg − costs−$51as in the Price arb table
costs, in and out, $10k−$510.515% of the position
Funding, last 7 days+1.489%+$149 on $10k
+Price spread, last 4 days (all we have)−0.153%−$15 · spread now +0.005%, 7d avg −0.001%
=The price spread sits at its 7-day average of −0.001%, so right now this pair is about funding alone: +$38 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Polymarket Perps PONS-USD | 0.5906 | 0.0439 | pay 0.0055% / 1h | 55m 01s | $91K | $1.9M | 3x |
| Short | Phoenix PONS | 0.5906 | 0.1719 | get 0.0215% / 1h | 55m 01s | $45K | $127K | 3x |
Polymarket Perps PONS-USD
Phoenix PONSFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $268.89
- Price spread: +0.005% → −0.001%
- $0.64
- Slippage, 4 orders
- −$36.49
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $218.05
- Costs to cover
- 0.515%
- Break-even
- 1.3 days
Slippage from Polymarket Perps: live order book, 4 min ago; Phoenix: live order book, 45 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, 4 min ago | 2.53 bp | 6.5 bp −$7 | 7.9 bp −$79 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 45 min ago | 4.06 bp | 19.3 bp −$19 | 64.7 bp −$647 | 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 | 0.5899 | −0.122% | $234K | — | 150x | as long as short |
| Injective PONS/USDC PERP | +0.0033% | 1h | 0.5969 | +1.080% | $614 | $10K | 5.5x | as long as short |
| Lighter RH PONS | +0.0096% | 1h | 0.5904 | −0.032% | $407K | $2.5M | 3x | as long as short |
| Popdex PONSUSDT | +0.0096% | 1h | 0.5906 | +0.005% | $21K | $421K | 20x | as long as short |
| Orderly PERP_PONS_USDC_mythos | +0.0100% | 4h | 0.5911 | +0.085% | $2K | $3K | 10x | as long as short |
| Nado PONS-PERP | +0.0100% | 1h | 0.5909 | +0.060% | $69K | $131K | 5x | as long as short |
| ApeX Omni PONSUSDT | +0.0100% | 1h | 0.5896 | −0.169% | $29K | $329K | 5x | as long as short |
| SunX PONS-USDT | +0.0100% | 4h | 0.5915 | +0.161% | — | $1.3M | 10x | as long as short |
| SoDEX PONS-USD | +0.0100% | 1h | 0.5904 | −0.029% | $25K | $589K | 3x | as long as short |
| HTX PONS-USDT | +0.0100% | 4h | 0.5921 | +0.256% | $65K | $524K | 20x | as long as short |
gTrade (Gains Network) PONS/USD
Injective PONS/USDC PERP
Lighter RH PONS
Popdex PONSUSDT
Orderly PERP_PONS_USDC_mythos
Nado PONS-PERP
ApeX Omni PONSUSDT
SunX PONS-USDT
SoDEX PONS-USD
HTX PONS-USDTShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex PONSUSDT | +0.0100% | 4h | 0.5907 | +0.022% | $1.6M | $3.2M | 20x | as long as short |
| Aevo PONS-PERP | +0.0224% | 1h | 0.5905 | −0.020% | $368 | — | 3x | as long as short |
| Gate PONS_USDT | +0.0272% | 4h | 0.5903 | −0.046% | $5.2M | $6.3M | 20x | as long as short |
| Hyperliquid PONS | +0.0337% | 1h | 0.5906 | +0.012% | $60.0M | $29.6M | 3x | as long as short |
| OKX PONS-USDT-SWAP | +0.0425% | 4h | 0.5900 | −0.097% | $13.4M | $55.6M | 20x | as long as short |
| Polymarket Perps PONS-USDlong | +0.0439% | 1h | 0.5906 | long leg | $91K | $1.9M | 3x | |
| Aster PONSUSDT | +0.0469% | 4h | 0.5907 | +0.028% | $1.1M | $2.2M | 20x | as long as short |
| Pacifica PONS | +0.0556% | 1h | 0.5912 | +0.108% | $45K | $69K | 3x | as long as short |
| Extended PONS-USD | +0.0568% | 1h | 0.5902 | −0.054% | $101K | $811K | 5x | as long as short |
| Binance PONSUSDT | +0.0571% | 4h | 0.5902 | −0.063% | $37.1M | $98.6M | 20x | as long as short |
| MEXC PONS_USDT | +0.0578% | 4h | 0.5906 | +0.005% | $7.5M | $4.7M | 20x | as long as short |
| edgeX PONSUSDC | +0.0599% | 4h | 0.5920 | +0.238% | $20K | $293K | 10x | as long as short |
| Bitget PONSUSDT | +0.0654% | 4h | 0.5907 | +0.029% | $4.7M | $12.2M | 20x | as long as short |
| Variational Omni PONS | +0.0661% | 4h | 0.5894 | −0.199% | $1.4M | $4.1M | — | as long as short |
| KuCoin PONSUSDTM | +0.0684% | 4h | 0.5904 | −0.025% | $1.6M | $3.8M | 20x | as long as short |
| BloFin PONS-USDT | +0.0811% | 4h | 0.5908 | +0.039% | $1.7M | $957K | 20x | as long as short |
| BingX PONS-USDT | +0.0882% | 4h | 0.5902 | −0.063% | — | $3.0M | — | as long as short |
| Bybit PONSUSDT | +0.0915% | 4h | 0.5899 | −0.113% | $17.6M | $31.5M | 20x | as long as short |
| Lighter PONS | +0.0952% | 1h | 0.5908 | +0.034% | $1.6M | $822K | 3x | as long as short |
| Phoenix PONSshort | +0.1719% | 1h | 0.5906 | +0.005% | $45K | $127K | 3x |
Phemex PONSUSDT
Aevo PONS-PERP
Gate PONS_USDT
Hyperliquid PONS
OKX PONS-USDT-SWAP
Aster PONSUSDT
Pacifica PONS
Extended PONS-USD
Binance PONSUSDT
MEXC PONS_USDT
edgeX PONSUSDC
Bitget PONSUSDT
Variational Omni PONS
KuCoin PONSUSDTM
BloFin PONS-USDT
BingX PONS-USDT
Bybit PONSUSDT
Lighter PONS