Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0156%/8h= +17.1% APRpaid last 24h +0.078%

Price spread now: edgeX against Aevo+0.164%72s7-day average — · you sell dearer than you buy

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

Long on Aevo Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and edgeX is 0.164% dearer against Aevo than usual: you sell high and buy low: +$16 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 72 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	Aevo PONS-PERP	0.6080	0.0152	pay 0.0019% / 1h	6m 24s	$379	—	3x
Short	edgeX PONSUSDC	0.6090	0.0308	get 0.0154% / 4h	6m 24s	$21K	$293K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Aevo. 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 AevobpFee edgeXbpOrdersPrice spread, now +0.164%Rate

Funding earned: $32.76
Price spread: +0.164% → 0.000%: $16.42
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $24.18
Costs to cover: 0.250%
Break-even: 1.8 days

Slippage unknown: Aevo: no order-book sample; edgeX: live order book, 7 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 Aevo no order-book sample	—	—	—	—	—
Sell edgeX live order book, 7 min ago	11.48 bp	20.0 bp −$20	doesn't fit	doesn't fit	doesn't fit

Aevo: 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
Injective PONS/USDC PERP	−0.0047%	1h	0.5969	−1.816%	$614	$10K	5.5x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0033%	1h	0.6072	−0.132%	$240K	—	150x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6082	+0.033%	$425K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6078	−0.031%	$20K	$422K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.6074	−0.097%	$18.2M	$31.3M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6076	−0.064%	$13.8M	$57.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6076	−0.070%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6095	+0.251%	$32K	$357K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6083	+0.048%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6079	−0.022%	—	$1.4M	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX PONS-USD	+0.0100%	1h	0.6080	+0.006%	$28K	$547K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6090	+0.174%	$65K	$510K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6091	+0.182%	$1.7M	$3.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0122%	4h	0.6076	−0.063%	$1.7M	$3.8M	20x	as long as short
Aster PONSUSDT	+0.0143%	4h	0.6075	−0.076%	$1.1M	$2.2M	20x	as long as short
Aevo PONS-PERPlong	+0.0152%	1h	0.6080	long leg	$379	—	3x
Bitget PONSUSDT	+0.0160%	4h	0.6079	−0.007%	$4.7M	$11.7M	20x	as long as short
Nado PONS-PERP	+0.0198%	1h	0.6081	+0.018%	$105K	$116K	5x	as long as short
Extended PONS-USD	+0.0296%	1h	0.6077	−0.053%	$252K	$682K	5x	as long as short
Binance PONSUSDT	+0.0297%	4h	0.6078	−0.033%	$39.8M	$98.3M	20x	as long as short
MEXC PONS_USDT	+0.0298%	4h	0.6076	−0.064%	$8.0M	$4.9M	20x	as long as short
BingX PONS-USDT	+0.0304%	4h	0.6081	+0.018%	—	$3.1M	—	as long as short
edgeX PONSUSDCshort	+0.0308%	4h	0.6090	+0.164%	$21K	$293K	10x
Lighter PONS	+0.0328%	1h	0.6082	+0.033%	$1.7M	$934K	3x	as long as short
BloFin PONS-USDT	+0.0538%	4h	0.6089	+0.150%	$1.8M	$1.0M	20x	as long as short
Polymarket Perps PONS-USD	+0.0643%	1h	0.6077	−0.046%	$42K	$1.7M	3x	as long as short
Hyperliquid PONS	+0.0833%	1h	0.6078	−0.026%	$61.9M	$29.9M	3x	as long as short
Pacifica PONS	+0.0899%	1h	0.6078	−0.030%	$48K	$96K	3x	as long as short
Phoenix PONS	+0.1307%	1h	0.6092	+0.196%	$31K	$102K	3x	as long as short
Gate PONS_USDT	+0.2240%	4h	0.6075	−0.081%	$5.3M	$6.3M	20x	as long as short