Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0637%/8h= +69.8% APRpaid last 24h +0.148%

Price spread now: Polymarket Perps against SunX−0.002%7-day average −0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs−$263as in the Funding arb table

Net, price: spread back to 7d avg − costs−$317as in the Price arb table

costs, in and out, $10k−$3213.210% of the position

Long on SunX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.577%+$58 on $10k

Price spread, last 4 days (all we have)−0.120%−$12 · spread now −0.002%, 7d avg −0.038%

Together, before fees+0.456%+$46 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$19 a day on $10k at the current rate, and Polymarket Perps is 0.036% dearer against SunX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.038%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX PONS-USDT	0.5885	0.0100	pay 0.0050% / 4h	2h 11m	—	$1.3M	10x
Short	Polymarket Perps PONS-USD	0.5885	0.0737	get 0.0092% / 1h	11m 51s	$111K	$1.9M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against SunX. 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 SunXbpFee Polymarket PerpsbpOrdersPrice spread, now −0.002%Rate

Funding earned: $133.81
Price spread: −0.002% → −0.038%: $3.59
Slippage, 4 orders: −$305.05
Fee SunX: 4 bp × 2 orders: −$8
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$183.64
Costs to cover: 3.210%
Break-even: 16.6 days

Slippage from SunX: live order book, 2 min ago; Polymarket Perps: live order book, 2 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 SunX live order book, 2 min ago	106.34 bp	133.8 bp −$134	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 2 min ago	1.87 bp	6.9 bp −$7	9.8 bp −$98	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	0.5878	−0.134%	$234K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+1.429%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5884	−0.031%	$410K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5885	−0.007%	$21K	$429K	20x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5891	+0.097%	$2K	$3K	10x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5885	−0.007%	$69K	$131K	5x	as long as short
Gate PONS_USDT	+0.0100%	4h	0.5901	+0.265%	$5.2M	$6.4M	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5865	−0.350%	$29K	$329K	5x	as long as short
SunX PONS-USDTlong	+0.0100%	4h	0.5885	long leg	—	$1.3M	10x
SoDEX PONS-USD	+0.0100%	1h	0.5884	−0.032%	$25K	$586K	3x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PONS-USDT	+0.0100%	4h	0.5869	−0.279%	$64K	$525K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5883	−0.041%	$1.6M	$3.2M	20x	as long as short
Hyperliquid PONS	+0.0214%	1h	0.5911	+0.430%	$60.0M	$29.6M	3x	as long as short
Aevo PONS-PERP	+0.0232%	1h	0.5886	+0.014%	$367	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0416%	4h	0.5909	+0.401%	$13.4M	$55.7M	20x	as long as short
Aster PONSUSDT	+0.0480%	4h	0.5900	+0.248%	$1.1M	$2.2M	20x	as long as short
MEXC PONS_USDT	+0.0592%	4h	0.5909	+0.401%	$7.5M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0600%	4h	0.5909	+0.401%	$37.4M	$98.5M	20x	as long as short
Extended PONS-USD	+0.0600%	1h	0.5902	+0.276%	$101K	$811K	5x	as long as short
edgeX PONSUSDC	+0.0607%	4h	0.5872	−0.236%	$20K	$296K	10x	as long as short
Bitget PONSUSDT	+0.0622%	4h	0.5913	+0.467%	$4.7M	$12.2M	20x	as long as short
Variational Omni PONS	+0.0630%	4h	0.5862	−0.406%	$1.3M	$4.1M	—	as long as short
KuCoin PONSUSDTM	+0.0704%	4h	0.5909	+0.409%	$1.6M	$3.8M	20x	as long as short
Pacifica PONS	+0.0715%	1h	0.5884	−0.022%	$45K	$69K	3x	as long as short
Lighter PONS	+0.0720%	1h	0.5887	+0.029%	$1.6M	$939K	3x	as long as short
Polymarket Perps PONS-USDshort	+0.0737%	1h	0.5885	−0.002%	$111K	$1.9M	3x
BloFin PONS-USDT	+0.0832%	4h	0.5882	−0.058%	$1.7M	$944K	20x	as long as short
BingX PONS-USDT	+0.0932%	4h	0.5909	+0.401%	—	$3.0M	—	as long as short
Bybit PONSUSDT	+0.0984%	4h	0.5910	+0.418%	$17.6M	$31.6M	20x	as long as short
Phoenix PONS	+0.1719%	1h	0.5880	−0.090%	$45K	$121K	3x	as long as short