Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0387%/8h= +42.4% APRpaid last 24h +0.086%

Price spread now: Polymarket Perps against OKX+0.212%7-day average −0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$380.376% of the position

Long on OKX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.251%+$25 on $10k

Price spread, last 7 days−0.248%−$25 · spread now +0.212%, 7d avg −0.029%

Together, before fees+0.003%$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Polymarket Perps is 0.241% dearer against OKX than usual: you sell high and buy low: +$24 more if the spread goes back to its 7-day average of −0.029%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.251% in total (about 13.1% a year). A funding rate is set anew for every payment. 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	OKX PONS-USDT-SWAP	0.5981	0.0100	pay 0.0050% / 4h	1h 14m	$13.6M	$56.2M	20x
Short	Polymarket Perps PONS-USD	0.5994	0.0487	get 0.0061% / 1h	14m 19s	$37K	$1.7M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against OKX. 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 OKXbpFee Polymarket PerpsbpOrdersPrice spread, now +0.212%Rate

Funding earned: $81.24
Price spread: +0.212% → −0.029%: $24.1
Slippage, 4 orders: −$19.61
Fee OKX: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $67.74
Costs to cover: 0.376%
Break-even: 1.2 days

Slippage from OKX: live order book, 4 min ago; Polymarket Perps: live order book, 4 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 OKX live order book, 4 min ago	1.67 bp	12.3 bp −$12	30.3 bp −$303	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 4 min ago	1.75 bp	5.8 bp −$6	7.2 bp −$72	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 −0.0036%	1h	0.5977	−0.069%	$224K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.192%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5994	+0.217%	$20K	$439K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5981	0.000%	$17.9M	$31.6M	20x	as long as short
OKX PONS-USDT-SWAPlong	+0.0100%	4h	0.5981	long leg	$13.6M	$56.2M	20x
KuCoin PONSUSDTM	+0.0100%	4h	0.5994	+0.217%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5988	+0.114%	$4.6M	$11.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5983	+0.038%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5997	+0.259%	$35K	$351K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5990	+0.155%	$3K	$3K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX PONS-USDT	+0.0100%	4h	0.5998	+0.284%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5985	+0.060%	$27K	$545K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5987	+0.092%	$64K	$506K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5980	−0.017%	$1.7M	$3.3M	20x	as long as short
Aster PONSUSDT	+0.0127%	4h	0.5984	+0.052%	$1.1M	$2.2M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5985	+0.067%	$373	—	3x	as long as short
Binance PONSUSDT	+0.0180%	4h	0.5984	+0.050%	$38.9M	$97.7M	20x	as long as short
Extended PONS-USD	+0.0184%	1h	0.5994	+0.211%	$248K	$667K	5x	as long as short
MEXC PONS_USDT	+0.0184%	4h	0.5992	+0.184%	$7.8M	$4.9M	20x	as long as short
BingX PONS-USDT	+0.0186%	4h	0.5984	+0.050%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0198%	4h	0.5990	+0.150%	$21K	$294K	10x	as long as short
Nado PONS-PERP	+0.0216%	1h	0.5994	+0.224%	$91K	$103K	5x	as long as short
Lighter RH PONS	+0.0304%	1h	0.5987	+0.092%	$423K	$2.7M	3x	as long as short
BloFin PONS-USDT	+0.0425%	4h	0.5988	+0.117%	$1.7M	$981K	20x	as long as short
Pacifica PONS	+0.0451%	1h	0.5991	+0.175%	$47K	$96K	3x	as long as short
Polymarket Perps PONS-USDshort	+0.0487%	1h	0.5994	+0.212%	$37K	$1.7M	3x
Lighter PONS	+0.0640%	1h	0.5990	+0.144%	$1.7M	$999K	3x	as long as short
Hyperliquid PONS	+0.0687%	1h	0.5994	+0.214%	$60.6M	$30.2M	3x	as long as short
Phoenix PONS	+0.1398%	1h	0.5990	+0.149%	$30K	$96K	3x	as long as short
Gate PONS_USDT	+0.1436%	4h	0.5986	+0.084%	$5.2M	$6.5M	20x	as long as short