Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0483%/8h= +52.9% APRpaid last 24h −0.016%

Price spread now: Pacifica against Bybit+0.086%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.037%+$4 on $10k

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

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

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Pacifica is 0.086% dearer against Bybit than usual: you sell high and buy low: +$9 more if the spread goes back to zero (this spread has no 7-day history yet).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.037% in total (about 1.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit PONSUSDT	0.6021	0.0386	pay 0.0193% / 4h	2h 09m	$18.0M	$30.4M	20x
Short	Pacifica PONS	0.6026	0.0869	get 0.0109% / 1h	9m 43s	$47K	$75K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Bybit. 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 BybitbpFee PacificabpOrdersPrice spread, now +0.086%Rate

Funding earned: $101.38
Price spread: +0.086% → 0.000%: $8.57
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Pacifica: 4 bp × 2 orders: −$8
Net: $90.95
Costs to cover: 0.190%
Break-even: 0.7 days

Slippage unknown: Bybit: live order book, 4 min ago; Pacifica: no order-book sample. 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 Bybit live order book, 4 min ago	0.83 bp	15.4 bp −$15	43.3 bp −$433	doesn't fit	doesn't fit
Sell Pacifica no order-book sample	—	—	—	—	—

Pacifica: 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 29 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 −0.0033%	1h	0.6022	+0.009%	$239K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.855%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6022	+0.017%	$20K	$423K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6037	+0.273%	$1.4M	$4.0M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6058	+0.619%	$33K	$353K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6037	+0.262%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6033	+0.199%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6031	+0.174%	$26K	$524K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6055	+0.558%	$64K	$508K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6030	+0.149%	$1.7M	$3.2M	20x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH PONS	+0.0144%	1h	0.6027	+0.100%	$424K	$2.5M	3x	as long as short
Aevo PONS-PERP	+0.0192%	1h	0.6031	+0.174%	$376	—	3x	as long as short
Lighter PONS	+0.0216%	1h	0.6028	+0.116%	$1.7M	$886K	3x	as long as short
OKX PONS-USDT-SWAP	+0.0256%	4h	0.6024	+0.050%	$13.8M	$54.7M	20x	as long as short
Nado PONS-PERP	+0.0259%	1h	0.6033	+0.194%	$71K	$131K	5x	as long as short
KuCoin PONSUSDTM	+0.0260%	4h	0.6028	+0.111%	$1.7M	$3.6M	20x	as long as short
Bitget PONSUSDT	+0.0348%	4h	0.6026	+0.090%	$4.7M	$11.3M	20x	as long as short
Bybit PONSUSDTlong	+0.0386%	4h	0.6021	long leg	$18.0M	$30.4M	20x
BingX PONS-USDT	+0.0414%	4h	0.6026	+0.083%	—	$3.0M	—	as long as short
Aster PONSUSDT	+0.0422%	4h	0.6026	+0.077%	$1.1M	$2.0M	20x	as long as short
MEXC PONS_USDT	+0.0430%	4h	0.6027	+0.100%	$7.7M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0431%	4h	0.6027	+0.106%	$39.5M	$94.6M	20x	as long as short
Extended PONS-USD	+0.0432%	1h	0.6024	+0.048%	$249K	$672K	5x	as long as short
edgeX PONSUSDC	+0.0453%	4h	0.6051	+0.504%	$21K	$292K	10x	as long as short
Hyperliquid PONS	+0.0690%	1h	0.6029	+0.141%	$61.4M	$27.7M	3x	as long as short
Gate PONS_USDT	+0.0706%	4h	0.6025	+0.066%	$5.3M	$6.2M	20x	as long as short
Polymarket Perps PONS-USD	+0.0758%	1h	0.6032	+0.183%	$47K	$1.5M	3x	as long as short
Pacifica PONSshort	+0.0869%	1h	0.6026	+0.086%	$47K	$75K	3x
Phoenix PONS	+0.1695%	1h	0.6057	+0.596%	$31K	$107K	3x	as long as short