Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0402%/8h= −44.0% APRpaid last 24h −0.090%

Price spread now: Aevo against Gate+0.042%7-day average — · you sell dearer than you buy

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

Long on Gate Short on Aevo

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. Aevo is 0.042% dearer against Gate than usual: you sell high and buy low (spread +0.042% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 8 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PONS_USDT	0.6012	0.0586	pay 0.0293% / 4h	2h 32m	$5.3M	$6.1M	20x
Short	Aevo PONS-PERP	0.6015	0.0184	get 0.0023% / 1h	32m 51s	$375	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Gate. 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 GatebpFee AevobpOrdersPrice spread, now +0.042%Rate

Funding earned: −$84.42
Price spread: +0.042% → 0.000%: $4.16
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$111.26
Costs to cover: 0.310%
Break-even: never at this rate

Slippage unknown: Gate: live order book, just now; Aevo: 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 Gate live order book, just now	1.66 bp	20.9 bp −$21	172.6 bp −$1,726	doesn't fit	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

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 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	0.6003	−0.143%	$238K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.707%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6013	+0.017%	$20K	$424K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6045	+0.542%	$1.4M	$4.0M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6042	+0.496%	$33K	$354K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6019	+0.118%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6020	+0.135%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6011	−0.020%	$26K	$526K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6037	+0.414%	$64K	$510K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6011	−0.017%	$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	+0.0128%	1h	0.6010	−0.035%	$419K	$2.5M	3x	as long as short
Aevo PONS-PERPshort	+0.0184%	1h	0.6015	+0.042%	$375	—	3x
OKX PONS-USDT-SWAP	+0.0216%	4h	0.6021	+0.150%	$13.8M	$55.5M	20x	as long as short
KuCoin PONSUSDTM	+0.0216%	4h	0.6011	−0.010%	$1.7M	$3.7M	20x	as long as short
Nado PONS-PERP	+0.0246%	1h	0.6016	+0.060%	$70K	$131K	5x	as long as short
Bybit PONSUSDT	+0.0256%	4h	0.6020	+0.133%	$18.1M	$30.7M	20x	as long as short
Lighter PONS	+0.0280%	1h	0.6010	−0.028%	$1.7M	$884K	3x	as long as short
Bitget PONSUSDT	+0.0298%	4h	0.6018	+0.093%	$4.7M	$11.3M	20x	as long as short
Aster PONSUSDT	+0.0360%	4h	0.6010	−0.033%	$1.1M	$2.0M	20x	as long as short
BingX PONS-USDT	+0.0396%	4h	0.6024	+0.200%	—	$3.0M	—	as long as short
Binance PONSUSDT	+0.0406%	4h	0.6016	+0.060%	$39.4M	$95.8M	20x	as long as short
Extended PONS-USD	+0.0408%	1h	0.6011	−0.014%	$249K	$682K	5x	as long as short
MEXC PONS_USDT	+0.0408%	4h	0.6016	+0.067%	$7.7M	$4.7M	20x	as long as short
edgeX PONSUSDC	+0.0414%	4h	0.6039	+0.453%	$21K	$293K	10x	as long as short
Gate PONS_USDTlong	+0.0586%	4h	0.6012	long leg	$5.3M	$6.1M	20x
Hyperliquid PONS	+0.0682%	1h	0.6011	−0.010%	$61.1M	$28.2M	3x	as long as short
Polymarket Perps PONS-USD	+0.0726%	1h	0.6012	−0.002%	$45K	$1.6M	3x	as long as short
Pacifica PONS	+0.0869%	1h	0.6018	+0.098%	$47K	$75K	3x	as long as short
Phoenix PONS	+0.1695%	1h	0.6038	+0.424%	$31K	$107K	3x	as long as short