After costs, if the gap returns to its 7d average, $10k−$1
spread now+0.258%7d average−0.075%fees + slippage, in and out−$34spread needed0.344%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid PONS | 0.6194 | 0.0590 | pay 0.0074% / 1h | 32m 59s | $62.3M | $27.1M | 3x |
| Short | Polymarket Perps PONS-USD | 0.6210 | 0.0650 | get 0.0081% / 1h | 32m 59s | $61K | $1.8M | 3x |
Hyperliquid PONS
Polymarket Perps PONS-USDPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- $25.83
- Funding while held
- $1.81
- Slippage, 4 orders
- −$17.43
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- −$6.79
- Spread needed to break even
- 0.344%
Slippage from Hyperliquid: live order book, 12 min ago; Polymarket Perps: live order book, 2 min ago.
Cost of waiting
funding view- Funding /8h
- +0.0060%
- Per $10,000 a day
- +$1.81
- Average in range /8h
- —
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 Hyperliquid live order book, 12 min ago | 0.65 bp | 15.8 bp −$16 | doesn't fit | doesn't fit | doesn't fit |
| Sell Polymarket Perps live order book, 2 min ago | 1.13 bp | 6.7 bp −$7 | 9.5 bp −$95 | doesn't fit | doesn't fit |
PONS price on every exchange
against the cheapest. Click to use as the short leg.Injective0.5738cheapest
OKX0.6183+7.755%Bitget0.6184+7.771%BingX0.6185+7.790%Phoenix0.6187+7.830%Extended0.6189+7.857%Bybit0.6189+7.860%edgeX0.6189+7.866%Aster0.6193+7.924%SoDEX0.6193+7.924%Binance0.6193+7.930%Phemex0.6193+7.930%gTrade (Gains Network)0.6193+7.937%MEXC0.6194+7.947%
Injective
OKX
Bitget
BingX
Phoenix
Extended
Bybit
Aster
SoDEX
Binance
Phemex
gTrade (Gains Network)
MEXCHyperliquid0.6194+7.956%
Aevo0.6198+8.008%Lighter RH0.6198+8.017%Gate0.6198+8.017%KuCoin0.6198+8.020%SunX0.6199+8.027%Lighter0.6200+8.045%Orderly0.6204+8.118%BloFin0.6205+8.139%Pacifica0.6208+8.196%HTX0.6210+8.233%
Aevo
Lighter RH
Gate
KuCoin
SunX
Lighter
Orderly
BloFin
Pacifica
HTXPolymarket Perps0.6210+8.235%
Nado0.6212+8.258%Popdex0.6212+8.261%ApeX Omni0.6232+8.613%Variational Omni0.6233+8.632%
Nado
Popdex
ApeX Omni
Variational OmniPONS on 30 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective PONS/USDC PERP | −7.369% | +0.0033% | 1h | $590 | $11K | 5.5x | as long as short |
| OKX PONS-USDT-SWAP | −0.186% | +0.0151% | 4h | $14.3M | $54.5M | 20x | as long as short |
| Bitget PONSUSDT | −0.171% | +0.0272% | 4h | $4.8M | $10.8M | 20x | as long as short |
| BingX PONS-USDT | −0.153% | +0.0482% | 4h | — | $3.1M | — | as long as short |
| Phoenix PONS | −0.116% | +0.1528% | 1h | $25K | $61K | 3x | as long as short |
| Extended PONS-USD | −0.091% | +0.0504% | 1h | $93K | $538K | 5x | as long as short |
| Bybit PONSUSDT | −0.089% | +0.0361% | 4h | $19.5M | $27.6M | 20x | as long as short |
| edgeX PONSUSDC | −0.083% | +0.0524% | 4h | $22K | $292K | 10x | as long as short |
| Aster PONSUSDT | −0.029% | +0.0119% | 4h | $1.1M | $2.1M | 20x | as long as short |
| SoDEX PONS-USD | −0.029% | +0.0100% | 1h | $28K | $461K | 3x | as long as short |
Show all 30 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Binance PONSUSDT | −0.024% | +0.0501% | 4h | $41.1M | $93.3M | 20x | as long as short |
| Phemex PONSUSDT | −0.024% | +0.0100% | 4h | $1.7M | $3.3M | 20x | as long as short |
| gTrade (Gains Network) PONS/USD | −0.017% | L +0.0032% / S −0.0031% | 1h | $223K | — | 150x | as long as short |
| MEXC PONS_USDT | −0.008% | +0.0500% | 4h | $7.6M | $5.0M | 20x | as long as short |
| Hyperliquid PONSlong | 0.000% | +0.0590% | 1h | $62.3M | $27.1M | 3x | |
| Aevo PONS-PERP | +0.048% | +0.0200% | 1h | $386 | — | 3x | as long as short |
| Lighter RH PONS | +0.057% | +0.0976% | 1h | $428K | $2.3M | 3x | as long as short |
| Gate PONS_USDT | +0.057% | −0.0204% | 4h | $5.6M | $7.4M | 20x | as long as short |
| KuCoin PONSUSDTM | +0.060% | +0.0248% | 4h | $1.8M | $3.1M | 20x | as long as short |
| SunX PONS-USDT | +0.066% | +0.0100% | 4h | — | $1.4M | 10x | as long as short |
| Lighter PONS | +0.082% | +0.1504% | 1h | $1.8M | $781K | 3x | as long as short |
| Orderly PERP_PONS_USDC_mythos | +0.150% | +0.0100% | 4h | $2K | $2K | 10x | as long as short |
| BloFin PONS-USDT | +0.170% | +0.0741% | 4h | $1.8M | $954K | 20x | as long as short |
| Pacifica PONS | +0.223% | +0.0616% | 1h | $51K | $123K | 3x | as long as short |
| HTX PONS-USDT | +0.257% | +0.0100% | 4h | $66K | $491K | 20x | as long as short |
| Polymarket Perps PONS-USDshort | +0.258% | +0.0650% | 1h | $61K | $1.8M | 3x | |
| Nado PONS-PERP | +0.280% | +0.0344% | 1h | $112K | $68K | 5x | as long as short |
| Popdex PONSUSDT | +0.283% | +0.0096% | 1h | $19K | $473K | 20x | as long as short |
| ApeX Omni PONSUSDT | +0.609% | +0.0100% | 1h | $36K | $315K | 5x | as long as short |
| Variational Omni PONS | +0.626% | +0.0430% | 4h | $1.5M | $3.6M | — | as long as short |