The article analyzes the potential for implementing a performance-based funding (PBF) system for universities in Poland, drawing on experiences from countries such as the United Kingdom, Italy, and Finland. In PBF models, public funds are allocated based on academic and research performance, using indicators such as bibliometric data, expert reviews, or the number of research grants. In Poland, despite the introduction of the 2.0 Reform, the current subsidy system still only partially reflects research effectiveness, and the lack of a dedicated performance-based component (such as REF or VQR) limits its allocative efficiency. Based on data from 2018–2023 (including POL-on, GUS, and Scopus), the article reveals a growing concentration of funds among top research universities and the marginalization of regional institutions. It presents recommendations for implementing a hybrid funding model that combines stabilizing, performance-based, and equalizing components. The author argue that without reforming the subsidy algorithm and limiting discretionary financial decisions, a full-scale PBF system will fail to achieve its intended outcomes. The proposed model aims to balance the drive for research excellence with the mission of regional development.