Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0268%/8h= +29.3% APRpaid last 24h −0.015%

Price spread now: Pacifica against edgeX−0.276%52s7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$85as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$750.748% of the position

Long on edgeX Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.105%−$11 on $10k

Price spread, last 3 days (all we have)+0.173%+$17 · spread now −0.276%, 7d avg −0.012%

Together, before fees+0.068%+ Points / potential airdropedgeX: Active · Pacifica: Active · farm board+$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. Pacifica is 0.264% cheaper against edgeX than usual: you would sell low and buy high (spread −0.276% now, against its 7-day average of −0.012%). If the spread goes back, that is −$26 on $10k: about 3.3 days of funding at the current rate (+$8 a day). Mind the row above: over the last 7 days funding on this pair cost −0.105%, so the current rate has only just turned in your favour. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.105% in total (about -5.5% 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	edgeX PONSUSDC	0.5927	0.0183	pay 0.0092% / 4h	1h 51m	$21K	$292K	10x
Short	Pacifica PONS	0.5911	0.0451	get 0.0056% / 1h	51m 44s	$47K	$103K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against edgeX. 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 edgeXbpFee PacificabpOrdersPrice spread, now −0.276%Rate

Funding earned: $56.22
Price spread: −0.276% → −0.012%: −$26.38
Slippage, 4 orders: −$57.81
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$44.96
Costs to cover: 0.748%
Break-even: 12.6 days

Slippage from edgeX: live order book, 31 min ago; Pacifica: live order book, 31 min ago.

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 edgeX live order book, 31 min ago	11.86 bp	21.6 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell Pacifica live order book, 31 min ago	6.26 bp	16.8 bp −$17	doesn't fit	doesn't fit	doesn't fit

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	0.5902	−0.428%	$216K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5920	−0.132%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5913	−0.243%	$21K	$441K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5907	−0.345%	$17.6M	$31.7M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5909	−0.311%	$13.4M	$56.0M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5908	−0.319%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5913	−0.243%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5914	−0.218%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5929	+0.035%	$34K	$342K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5914	−0.232%	$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	0.5913	−0.245%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5907	−0.336%	$27K	$544K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5912	−0.262%	$63K	$505K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5906	−0.361%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5908	−0.319%	$368	—	3x	as long as short
Aster PONSUSDT	+0.0147%	4h	0.5906	−0.368%	$1.1M	$2.2M	20x	as long as short
Nado PONS-PERP	+0.0156%	1h	0.5909	−0.309%	$89K	$103K	5x	as long as short
MEXC PONS_USDT	+0.0172%	4h	0.5909	−0.311%	$7.5M	$4.9M	20x	as long as short
BingX PONS-USDT	+0.0172%	4h	0.5907	−0.345%	—	$3.1M	—	as long as short
Binance PONSUSDT	+0.0172%	4h	0.5911	−0.279%	$38.4M	$98.0M	20x	as long as short
Extended PONS-USD	+0.0176%	1h	0.5909	−0.318%	$106K	$523K	5x	as long as short
edgeX PONSUSDClong	+0.0183%	4h	0.5927	long leg	$21K	$292K	10x
Lighter RH PONS	+0.0312%	1h	0.5910	−0.296%	$420K	$2.6M	3x	as long as short
BloFin PONS-USDT	+0.0412%	4h	0.5905	−0.378%	$1.7M	$973K	20x	as long as short
Pacifica PONSshort	+0.0451%	1h	0.5911	−0.276%	$47K	$103K	3x
Polymarket Perps PONS-USD	+0.0455%	1h	0.5914	−0.225%	$37K	$1.8M	3x	as long as short
Hyperliquid PONS	+0.0579%	1h	0.5915	−0.213%	$59.5M	$29.9M	3x	as long as short
Lighter PONS	+0.0784%	1h	0.5914	−0.220%	$1.7M	$982K	3x	as long as short
Gate PONS_USDT	+0.1020%	4h	0.5907	−0.345%	$5.2M	$6.4M	20x	as long as short
Phoenix PONS	+0.1398%	1h	0.5917	−0.184%	$30K	$96K	3x	as long as short