Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 0.5109 | +0.0448 | pay 0.0056% / 1h | 15m 09s | $50K | $442K | 4x | Long Arcus5% off | |
| SHORT | 0.5052 | +0.0100 | get 0.0050% / 4h | 3h 15m | $1.5M | $4.6M | 50x | Short Variational Omni+15% pts |
Price gap−1.125%
Funding gap−0.0348% /8h
Both sides work against this direction now: funding costs $10 a day on $10k and the gap is 0.977% under its 7d average. Swap the legs.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding−$25−0.0348% /8h now · paid −0.251% over the last 1 day (all we have)
Price−$98spread −1.125% now, avg −0.148% → −0.977% if it goes back
Costs−$710.712% of $10k · taker + slippage, in and out
Result−$194−1.94%+ Points / potential airdropVariational Omni: points · farm boardWhat the last 7D really paid, hour by hour → backtest
Funding history
you earnyou payavg
RANGE STATS · 7D
Average /8h—
Highest—
Lowest—
Paid you—
Short leg rate minus long leg rate, per 8h. Above zero: the pair pays you.
Price spread between the two exchanges
Variational Omni price against Arcusnow
RANGE STATS · 7D
Now−1.125%
Average—
Range—
Wider than now—
Where the spread has been, last 7D▾
share of time at each level
Funding on every exchange
/8hPONS on 31 exchanges
lowest funding firstBefore you open
2 ok · 4 to watch- Watch: Thin at this size14.4 / 24.8 bpAt $10k entering Variational Omni costs 24.8 bp, fee and slippage, 1.7× Arcus’s.
- Note: Margin at max leverage$2,500 + $200Arcus 4x, Variational Omni 50x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- Watch: Payment intervals differ1h / 4hPayments land at different times. Close right after the slower leg pays.Next 24h at the current rates, on $10k a leg: −$10.43Long Arcus: 24 payments, −$13.43; short Variational Omni: 6 payments, +$3.00.
- Watch: Gap narrower than usual−1.125% vs −0.148%Less room for the price leg to pay you. If it goes back to average, the short loses.
- Watch: Long leg is thinner$50K vs $1.5M OIArcus sets your exit cost. Check its book before closing.
- OK: Points on a legVariational Omni pointsVolume here counts toward the points program.
- OK: No KYC on either legArcus No · Variational Omni NoBoth exchanges let you trade without ID.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0675%/8h × 21 periods−$141.78
Price spread−1.125% → −0.148% (7d avg)−$97.70
Slippage, 4 orderslive order books−$66.68
Fee Arcus bp × 2 orders−$4.50
Fee Variational Omni bp × 2 orders$0.00
Net · 7 days · $10k−$310.66
Costs to cover0.712%Break-evennever at this rate
Slippage: Arcus: live order book, 33 min ago; Variational Omni: RFQ quote, 4 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGArcus3.2214.4 bp−$1425.4 bp−$254doesn’t fitdoesn’t fit
SELL · SHORTVariational Omni4.9524.8 bp−$2544.6 bp−$446doesn’t fitdoesn’t fit
Closing costs about the same again.
| 09-29 11:00 | gTrade (Gains Network) | Listing | PONS/USD no longer reported ($PONS) seen by our collector |
| 09-29 02:27 | Arcus | Listing | $PONS perpetuals are now live on Arcus. Up to 4x leverage. @arcus_xyz on X ↗ |
| 09-28 19:23 | Arcus | Listing | new market PONS-USD ($PONS) seen by our collector |
| 09-25 11:16 | Kraken Futures | Listing | new market PF_PONSUSD ($PONS) seen by our collector |
| 09-22 17:11 | Avantis | Listing | new market PONS/USD ($PONS) seen by our collector |
| 09-22 13:03 | Bybit | Other | 📣 $PONS is officially listed on #BybitSpot with @ponsdotfamily! Pons is a token launchpad on the Robinhood blockchain, where users can pair tokens with Stock Tokens, ETH, USDG, and more. Tokens are launched through a "fair launch" process with a bonding curve. @Bybit_Official on X ↗ |
gTrade (Gains Network)
Kraken Futures
Avantis
Bybit