Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0132%/8h= −14.5% APRpaid last 24h −0.024%

Price spread now: Phemex against Aevo+0.061%7-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 Phemex

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

The price spread pays, funding is against you. Phemex is 0.061% dearer against Aevo than usual: you sell high and buy low (spread +0.061% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 37 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo PONS-PERP	0.5921	0.0232	pay 0.0029% / 1h	10m 49s	$369	—	3x
Short	Phemex PONSUSDT	0.5925	0.0100	get 0.0050% / 4h	3h 10m	$1.6M	$3.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.061%Rate

Funding earned: −$27.72
Price spread: +0.061% → 0.000%: $6.13
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$49.59
Costs to cover: 0.280%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Phemex: live order book, 3 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 Phemex live order book, 3 min ago	3.36 bp	40.5 bp −$41	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
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0032%	1h	0.5921	−0.002%	$235K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+0.813%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5916	−0.091%	$417K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5934	+0.213%	$21K	$417K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5937	+0.271%	$69K	$130K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5935	+0.227%	$34K	$339K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5931	+0.158%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5948	+0.453%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5919	−0.033%	$26K	$541K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5942	+0.352%	$64K	$512K	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex PONSUSDTshort	+0.0100%	4h	0.5925	+0.061%	$1.6M	$3.2M	20x
Aevo PONS-PERPlong	+0.0232%	1h	0.5921	long leg	$369	—	3x
OKX PONS-USDT-SWAP	+0.0353%	4h	0.5915	−0.108%	$13.5M	$54.1M	20x	as long as short
Lighter PONS	+0.0440%	1h	0.5919	−0.033%	$1.6M	$894K	3x	as long as short
Variational Omni PONS	+0.0440%	4h	0.5911	−0.168%	$1.4M	$4.0M	—	as long as short
Gate PONS_USDT	+0.0462%	4h	0.5917	−0.074%	$5.2M	$6.2M	20x	as long as short
Hyperliquid PONS	+0.0478%	1h	0.5917	−0.072%	$60.5M	$28.1M	3x	as long as short
Aster PONSUSDT	+0.0511%	4h	0.5913	−0.135%	$1.1M	$2.2M	20x	as long as short
Bitget PONSUSDT	+0.0536%	4h	0.5913	−0.146%	$4.6M	$11.6M	20x	as long as short
Extended PONS-USD	+0.0608%	1h	0.5919	−0.046%	$106K	$807K	5x	as long as short
Binance PONSUSDT	+0.0608%	4h	0.5915	−0.114%	$38.7M	$94.2M	20x	as long as short
MEXC PONS_USDT	+0.0610%	4h	0.5918	−0.057%	$7.5M	$4.7M	20x	as long as short
edgeX PONSUSDC	+0.0610%	4h	0.5945	+0.396%	$18K	$292K	10x	as long as short
BingX PONS-USDT	+0.0716%	4h	0.5917	−0.074%	—	$3.0M	—	as long as short
KuCoin PONSUSDTM	+0.0734%	4h	0.5919	−0.038%	$1.6M	$3.8M	20x	as long as short
Polymarket Perps PONS-USD	+0.0734%	1h	0.5932	+0.180%	$81K	$1.7M	3x	as long as short
Bybit PONSUSDT	+0.0784%	4h	0.5913	−0.141%	$17.6M	$30.6M	20x	as long as short
BloFin PONS-USDT	+0.0848%	4h	0.5922	+0.011%	$1.7M	$942K	20x	as long as short
Pacifica PONS	+0.1081%	1h	0.5943	+0.369%	$46K	$68K	3x	as long as short
Phoenix PONS	+0.1586%	1h	0.5945	+0.404%	$45K	$109K	3x	as long as short