PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0918%/8h= −100.6% APRnext payment −$1.15 per $10,000 · paid last 24h −0.257%

Price spread now: Polymarket Perps against Phoenix+0.146%59s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Phoenix Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−1.508%−$151 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Polymarket Perps is 0.146% dearer against Phoenix than usual: you sell high and buy low (spread +0.146% now, against zero (this spread has no 7-day history yet)): +$15 on $10k if it goes back. Holding the pair costs −$28 a day in funding at the current rate, which eats that in about 13 hours. The two prices were read 59 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix PONS	0.5958	0.1398	pay 0.0175% / 1h	26m 06s	$30K	$96K	3x
Short	Polymarket Perps PONS-USD	0.5966	0.0480	get 0.0060% / 1h	26m 06s	$37K	$1.7M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Phoenix. 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 PhoenixbpFee Polymarket PerpsbpOrdersPrice spread, now +0.146%Rate

Funding earned: −$192.85
Price spread: +0.146% → 0.000%: $14.6
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$193.24
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Polymarket Perps: live order book, 2 min ago. Net counts fees only.

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 Phoenix no order-book sample	—	—	—	—	—
Sell Polymarket Perps live order book, 2 min ago	2.18 bp	7.3 bp −$7	8.3 bp −$83	doesn't fit	doesn't fit

Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 −0.0034%	1h	0.5958	+0.008%	$218K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+0.201%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5965	+0.126%	$18K	$438K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5970	+0.210%	$17.8M	$31.6M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5972	+0.243%	$13.5M	$56.2M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5967	+0.163%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5976	+0.307%	$4.7M	$11.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5935	−0.373%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5966	+0.136%	$34K	$348K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5974	+0.274%	$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	0.5958	+0.012%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5968	+0.180%	$27K	$548K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5976	+0.302%	$64K	$506K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5969	+0.193%	$1.7M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0120%	1h	0.5967	+0.167%	$372	—	3x	as long as short
Aster PONSUSDT	+0.0127%	4h	0.5962	+0.082%	$1.1M	$2.2M	20x	as long as short
BingX PONS-USDT	+0.0168%	4h	0.5967	+0.159%	—	$3.1M	—	as long as short
MEXC PONS_USDT	+0.0170%	4h	0.5969	+0.193%	$7.7M	$4.9M	20x	as long as short
Binance PONSUSDT	+0.0174%	4h	0.5972	+0.252%	$38.8M	$97.7M	20x	as long as short
Extended PONS-USD	+0.0176%	1h	0.5972	+0.248%	$246K	$667K	5x	as long as short
edgeX PONSUSDC	+0.0182%	4h	0.5959	+0.025%	$21K	$292K	10x	as long as short
Nado PONS-PERP	+0.0227%	1h	0.5966	+0.143%	$90K	$103K	5x	as long as short
Lighter RH PONS	+0.0352%	1h	0.5968	+0.175%	$413K	$2.7M	3x	as long as short
BloFin PONS-USDT	+0.0411%	4h	0.5959	+0.025%	$1.7M	$976K	20x	as long as short
Pacifica PONS	+0.0451%	1h	0.5966	+0.150%	$47K	$96K	3x	as long as short
Polymarket Perps PONS-USDshort	+0.0480%	1h	0.5966	+0.146%	$37K	$1.7M	3x
Hyperliquid PONS	+0.0667%	1h	0.5974	+0.282%	$60.3M	$30.1M	3x	as long as short
Lighter PONS	+0.0752%	1h	0.5968	+0.181%	$1.7M	$998K	3x	as long as short
Gate PONS_USDT	+0.1244%	4h	0.5959	+0.025%	$5.2M	$6.5M	20x	as long as short
Phoenix PONSlong	+0.1398%	1h	0.5958	long leg	$30K	$96K	3x