Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0344%/8h= −37.6% APRpaid last 24h −0.118%

Price spread now: OKX against Polymarket Perps−0.575%57s7-day average +0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$400.402% of the position

Long on Polymarket Perps Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.292%−$29 on $10k

Price spread, last 7 days+0.590%+$59 · spread now −0.575%, 7d avg +0.026%

Together, before fees+0.298%+$30 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and OKX is 0.601% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$60 if the spread goes back to its 7-day average of +0.026%). Swap the legs. The two prices were read 57 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	Polymarket Perps PONS-USD	0.6002	0.0709	pay 0.0089% / 1h	22m 32s	$71K	$1.6M	3x
Short	OKX PONS-USDT-SWAP	0.5968	0.0365	get 0.0182% / 4h	3h 22m	$13.6M	$54.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 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 Polymarket PerpsbpFee OKXbpOrdersPrice spread, now −0.575%Rate

Funding earned: −$72.19
Price spread: −0.575% → +0.026%: −$60.09
Slippage, 4 orders: −$22.19
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$172.47
Costs to cover: 0.402%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 1 min ago; OKX: 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 Polymarket Perps live order book, 1 min ago	2.08 bp	6.4 bp −$6	7.7 bp −$77	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	1.67 bp	16.2 bp −$16	28.3 bp −$283	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	0.5996	−0.101%	$238K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.550%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5969	−0.558%	$21K	$417K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5975	−0.452%	$70K	$130K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6027	+0.403%	$35K	$342K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6010	+0.133%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6003	+0.005%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6002	−0.002%	$26K	$534K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6018	+0.265%	$65K	$512K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6000	−0.042%	$1.7M	$3.2M	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH PONS	+0.0128%	1h	0.5981	−0.360%	$408K	$2.6M	3x	as long as short
Aevo PONS-PERP	+0.0240%	1h	0.6005	+0.033%	$374	—	3x	as long as short
OKX PONS-USDT-SWAPshort	+0.0365%	4h	0.5968	−0.575%	$13.6M	$54.6M	20x
Variational Omni PONS	+0.0441%	4h	0.6020	+0.298%	$1.5M	$3.9M	—	as long as short
Hyperliquid PONS	+0.0474%	1h	0.5983	−0.320%	$61.2M	$28.0M	3x	as long as short
Aster PONSUSDT	+0.0522%	4h	0.5975	−0.466%	$1.1M	$2.1M	20x	as long as short
Bitget PONSUSDT	+0.0536%	4h	0.5977	−0.421%	$4.6M	$11.5M	20x	as long as short
Lighter PONS	+0.0544%	1h	0.5992	−0.177%	$1.6M	$893K	3x	as long as short
MEXC PONS_USDT	+0.0620%	4h	0.5981	−0.358%	$7.6M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0622%	4h	0.5972	−0.500%	$39.1M	$94.1M	20x	as long as short
Extended PONS-USD	+0.0624%	1h	0.5981	−0.352%	$107K	$808K	5x	as long as short
edgeX PONSUSDC	+0.0645%	4h	0.6036	+0.561%	$18K	$292K	10x	as long as short
Polymarket Perps PONS-USDlong	+0.0709%	1h	0.6002	long leg	$71K	$1.6M	3x
KuCoin PONSUSDTM	+0.0758%	4h	0.5980	−0.375%	$1.6M	$3.8M	20x	as long as short
BloFin PONS-USDT	+0.0862%	4h	0.6001	−0.025%	$1.7M	$956K	20x	as long as short
Bybit PONSUSDT	+0.0926%	4h	0.5967	−0.591%	$17.9M	$30.5M	20x	as long as short
BingX PONS-USDT	+0.0930%	4h	0.5975	−0.458%	—	$3.0M	—	as long as short
Pacifica PONS	+0.1081%	1h	0.5981	−0.360%	$47K	$68K	3x	as long as short
Gate PONS_USDT	+0.1164%	4h	0.5980	−0.375%	$5.2M	$6.2M	20x	as long as short
Phoenix PONS	+0.1586%	1h	0.6007	+0.073%	$45K	$109K	3x	as long as short