Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0063%/8hpaid last 24h +0.058%

Price spread now: Polymarket Perps against Binance+0.008%7-day average −0.084% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$380.382% of the position

Long on Binance Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.060%+$6 on $10k

Price spread, last 7 days−0.069%−$7 · spread now +0.008%, 7d avg −0.084%

Together, before fees−0.009%−$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Polymarket Perps is 0.092% dearer against Binance than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.084%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PONSUSDT	0.5898	0.0195	pay 0.0098% / 4h	7m 01s	$38.3M	$99.3M	20x
Short	Polymarket Perps PONS-USD	0.5898	0.0259	get 0.0032% / 1h	7m 01s	$55K	$1.8M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Binance. 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 BinancebpFee Polymarket PerpsbpOrdersPrice spread, now +0.008%Rate

Funding earned: $13.33
Price spread: +0.008% → −0.084%: $9.17
Slippage, 4 orders: −$20.2
Fee Binance: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$15.7
Costs to cover: 0.382%
Break-even: 15.2 days

Slippage from Binance: live order book, 10 min ago; Polymarket Perps: live order book, 1 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 Binance live order book, 10 min ago	0.85 bp	10.6 bp −$11	37.2 bp −$372	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 1 min ago	2.12 bp	6.3 bp −$6	7.9 bp −$79	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
Gate PONS_USDT	−0.0168%	4h	0.5899	+0.023%	$5.2M	$7.2M	20x	as long as short
Injective PONS/USDC PERP	−0.0008%	1h	0.5863	−0.589%	$603	$6K	5.5x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0032% / S −0.0032%	1h	0.5894	−0.068%	$212K	—	150x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5896	−0.028%	$21K	$494K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5899	+0.023%	$73K	$95K	5x	as long as short
Hyperliquid PONS	+0.0100%	1h	0.5900	+0.040%	$58.4M	$29.9M	3x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5897	−0.011%	$17.6M	$31.5M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5897	−0.011%	$13.2M	$56.1M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5902	+0.079%	$1.8M	$3.6M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5901	+0.054%	$4.6M	$11.5M	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni PONS	+0.0100%	4h	0.5879	−0.308%	$1.2M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5898	+0.003%	$34K	$315K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5906	+0.133%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5901	+0.064%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5898	+0.006%	$27K	$533K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5912	+0.249%	$63K	$504K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5895	−0.045%	$1.7M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5894	−0.059%	$367	—	3x	as long as short
Pacifica PONS	+0.0150%	1h	0.5897	−0.006%	$47K	$111K	3x	as long as short
Lighter RH PONS	+0.0192%	1h	0.5900	+0.040%	$397K	$2.5M	3x	as long as short
Extended PONS-USD	+0.0192%	1h	0.5897	−0.008%	$88K	$537K	5x	as long as short
MEXC PONS_USDT	+0.0194%	4h	0.5898	+0.006%	$7.3M	$5.3M	20x	as long as short
BingX PONS-USDT	+0.0194%	4h	0.5899	+0.023%	—	$3.2M	—	as long as short
Binance PONSUSDTlong	+0.0195%	4h	0.5898	long leg	$38.3M	$99.3M	20x
edgeX PONSUSDC	+0.0196%	4h	0.5898	+0.002%	$21K	$292K	10x	as long as short
Aster PONSUSDT	+0.0204%	4h	0.5900	+0.035%	$1.1M	$2.1M	20x	as long as short
Polymarket Perps PONS-USDshort	+0.0259%	1h	0.5898	+0.008%	$55K	$1.8M	3x
BloFin PONS-USDT	+0.0435%	4h	0.5904	+0.108%	$1.7M	$979K	20x	as long as short
Lighter PONS	+0.0904%	1h	0.5905	+0.118%	$1.7M	$875K	3x	as long as short
Phoenix PONS	+0.1244%	1h	0.5898	+0.010%	$27K	$80K	3x	as long as short