Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0636%/8h= +69.6% APRpaid last 24h +0.067%

Price spread now: Gate against Aevo−0.089%7-day average — · you buy dearer than you sell

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

Long on Aevo Short on Gate

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—needs both histories

Funding pays, the price is against you. Gate is 0.089% cheaper against Aevo than usual: you would sell low and buy high (spread −0.089% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 11 hours of funding at the current rate (+$19 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo PONS-PERP	0.5910	0.0128	pay 0.0016% / 1h	16m 05s	$368	—	3x
Short	Gate PONS_USDT	0.5905	0.0764	get 0.0382% / 4h	2h 16m	$5.2M	$6.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.089%Rate

Funding earned: $133.56
Price spread: −0.089% → 0.000%: −$8.93
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $93.63
Costs to cover: 0.310%
Break-even: 2.1 days

Slippage unknown: Aevo: no order-book sample; Gate: 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 Aevo no order-book sample	—	—	—	—	—
Sell Gate live order book, 2 min ago	4.24 bp	23.5 bp −$23	62.6 bp −$626	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
gTrade (Gains Network) PONS/USD	L +0.0032% / S −0.0034%	1h	0.5903	−0.128%	$216K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+0.158%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5910	−0.005%	$21K	$444K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5905	−0.089%	$17.7M	$31.8M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5907	−0.055%	$13.4M	$56.2M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5905	−0.094%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5908	−0.044%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5901	−0.163%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5904	−0.106%	$34K	$334K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5917	+0.115%	$2K	$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	0.5910	−0.001%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5908	−0.032%	$27K	$549K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5908	−0.045%	$64K	$504K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5901	−0.157%	$1.6M	$3.3M	20x	as long as short
Nado PONS-PERP	+0.0103%	1h	0.5911	+0.009%	$89K	$103K	5x	as long as short
Aevo PONS-PERPlong	+0.0128%	1h	0.5910	long leg	$368	—	3x
Extended PONS-USD	+0.0176%	1h	0.5910	−0.001%	$106K	$533K	5x	as long as short
MEXC PONS_USDT	+0.0176%	4h	0.5910	−0.005%	$7.5M	$5.2M	20x	as long as short
Binance PONSUSDT	+0.0177%	4h	0.5912	+0.025%	$38.4M	$98.3M	20x	as long as short
BingX PONS-USDT	+0.0180%	4h	0.5906	−0.072%	—	$3.1M	—	as long as short
Aster PONSUSDT	+0.0189%	4h	0.5907	−0.059%	$1.1M	$2.2M	20x	as long as short
edgeX PONSUSDC	+0.0191%	4h	0.5906	−0.078%	$21K	$293K	10x	as long as short
Polymarket Perps PONS-USD	+0.0369%	1h	0.5911	+0.007%	$37K	$1.8M	3x	as long as short
BloFin PONS-USDT	+0.0417%	4h	0.5910	−0.005%	$1.7M	$967K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5908	−0.043%	$47K	$103K	3x	as long as short
Hyperliquid PONS	+0.0495%	1h	0.5911	+0.005%	$59.2M	$30.1M	3x	as long as short
Lighter RH PONS	+0.0592%	1h	0.5910	0.000%	$416K	$2.6M	3x	as long as short
Gate PONS_USDTshort	+0.0764%	4h	0.5905	−0.089%	$5.2M	$6.8M	20x
Lighter PONS	+0.1016%	1h	0.5913	+0.051%	$1.7M	$889K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5907	−0.061%	$30K	$86K	3x	as long as short