Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 0.2266 | +0.1518 | pay 0.0190% / 1h | 55m 46s | $27K | $145K | 25x | Long Deribit | |
| SHORT | 0.2264 | +0.0100 | get 0.0050% / 4h | 55m 46s | $838K | $1.1M | 50x | Short Variational Omni+15% pts |
Price gap−0.082%
Funding gap−0.1418% /8h
The gap pays +$8 on $10k if it goes back to its 7d average, but funding costs $43 a day and eats that in about 4 hours. At the last 7 days' pace that is about 14 hours.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding−$94−0.1418% /8h now · paid −0.944% over the last 7D
Price+$8spread −0.082% now, avg −0.160% → +0.078% if it goes back
Costs−$1161.162% of $10k · taker + slippage, in and out
Result−$203−2.03%+ Points / potential airdropVariational Omni: points · farm boardWhat the last 7D really paid, hour by hour → backtest
The current funding rate is far below what this pair has been paying: over the last 7 days it paid −0.944% in total, about −0.0450%/8h on average.
Price and funding
1h · historyEntry / Exit
Price spread
Prices
Fundingper 8h
ENTRY / EXIT · 7D
Entry now—
Entry average—
Best entry—
Exit now—
Exit average—
Best exit—
Exit free—
PRICE SPREAD · 7D
Now−0.082%
Average—
Range—
Wider than now—
FUNDING SPREAD · 7D
Average /8h—
Highest—
Lowest—
Paid you—
Where the spread has been, last 7D▾
share of time at each level
Funding on every exchange
/8hPONS on 35 exchanges
lowest funding firstBefore you open
2 ok · 4 to watch- Watch: Thin at this size15.6 / 41.9 bpAt $10k entering Variational Omni costs 41.9 bp, fee and slippage, 2.7× Deribit’s.
- Note: Margin at max leverage$400 + $200Deribit 25x, 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: −$42.55Long Deribit: 24 payments, −$45.55; short Variational Omni: 6 payments, +$3.00.
- OK: Entry gap works for you−0.082% vs −0.160%You short the dearer leg. If the gap goes back to average, the short gains.
- Watch: Long leg is thinner$27K vs $838K OIDeribit sets your exit cost. Check its book before closing.
- OK: Points on a legVariational Omni pointsVolume here counts toward the points program.
- Watch: KYCDeribit Yes · Variational Omni NoID, proof of address and a financial profile before any deposit; not for the US, Canada, Japan or retail UK clients.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0450%/8h × 21 periods−$94.40
Price spread−0.082% → −0.160% (7d avg)+$7.82
Slippage, 4 orderslive order books−$109.21
Fee Deribit bp × 2 orders−$7.00
Fee Variational Omni bp × 2 orders$0.00
Net · 7 days · $10k−$202.79
Costs to cover1.162%Break-evennever at this rate
Slippage: Deribit: live order book, 31 min ago; Variational Omni: RFQ quote, 2 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGDeribit8.7915.6 bp−$16doesn’t fitdoesn’t fitdoesn’t fit
SELL · SHORTVariational Omni8.8341.9 bp−$4275.1 bp−$751doesn’t fitdoesn’t fit
Closing costs about the same again.
| 10-22 07:46 | Phemex | Listing | Spot New Listing - robinhood:0x39dbed3a2bd333467115de45665cc57f813c4571 | @ponsdotfamily - Trading Pair: PONS/USDT - Trading Starts: 9:00 UTC, 22 Oct Trade it here ➡️ @Phemex_official on X ↗ |
| 10-15 10:02 | Deribit | Listing | 🚨 Now live on Deribit: PONS and CASHCAT USDC settled perpetuals. ↓ @DeribitOfficial on X ↗ |
| 10-15 10:01 | Deribit | Listing | new market PONS_USDC-PERPETUAL ($PONS) seen by our collector |
| 10-05 02:16 | SoDEX | Other | 📊 SoDEX 24h Movers | Mon, Oct 5 73 of 92 perp markets are higher. Can the broad advance hold through this week's macro releases? Market notes $AXS: Price rose on declining volume, alongside negative funding and net exchange inflows. The advance lacked stronger volume confirmation. $PENGU: Stonk launched a "Community Coins" mode on Solana, making PENGU holders eligible to share rewards from newly issued meme tokens. $PONS: Trader Bonk Guy's portfolio is down ~$13.9M from its Sept 6 peak. PONS remains his largest holding at $4.51M. This week's watchlist Mon, Oct 5, 14:00 UTC: US ISM Services PMI Wed, Oct 7, 18:00 UTC: FOMC minutes Fri, Oct 9: Michigan consumer sentiment preliminary release 73 up / 19 down / 0 flat across 92 perp markets. 24 also trade spot. Trade 👉 @sodex_official on X ↗ |
| 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 |
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