Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0403%/8h= +44.2% APRpaid last 24h −0.006%

Price spread now: Pacifica against Gate−0.078%7-day average +0.050% · 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−$92as in the Price arb table

costs, in and out, $10k−$790.788% of the position

Long on Gate Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.066%−$7 on $10k

Price spread, last 4 days (all we have)+0.247%+$25 · spread now −0.078%, 7d avg +0.050%

Together, before fees+0.181%+ Points / potential airdropPacifica: Active · farm board+$18 on $10k · with fees, hour by hour

Funding pays, the price is against you. Pacifica is 0.128% cheaper against Gate than usual: you would sell low and buy high (spread −0.078% now, against its 7-day average of +0.050%). If the spread goes back, that is −$13 on $10k: about 25 hours of funding at the current rate (+$12 a day). Mind the row above: over the last 7 days funding on this pair cost −0.066%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.066% in total (about -3.4% 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	Gate PONS_USDT	0.5941	−0.0124	get 0.0062% / 4h	3h 29m	$5.2M	$7.0M	20x
Short	Pacifica PONS	0.5936	0.0279	get 0.0035% / 1h	29m 55s	$47K	$111K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Gate. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 PacificabpOrdersPrice spread, now −0.078%Rate

Funding earned: $84.69
Price spread: −0.078% → +0.050%: −$12.82
Slippage, 4 orders: −$55.83
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$6.96
Costs to cover: 0.788%
Break-even: 7.6 days

Slippage from Gate: live order book, 4 min ago; Pacifica: live order book, 18 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 Gate live order book, 4 min ago	4.22 bp	23.8 bp −$24	171.9 bp −$1,719	doesn't fit	doesn't fit
Sell Pacifica live order book, 18 min ago	7.21 bp	15.5 bp −$15	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
Gate PONS_USDTlong	−0.0124%	4h	0.5941	long leg	$5.2M	$7.0M	20x
gTrade (Gains Network) PONS/USD	L +0.0032% / S −0.0032%	1h	0.5934	−0.121%	$213K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5863	−1.315%	$603	$3K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5941	0.000%	$21K	$475K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5940	−0.017%	$73K	$95K	5x	as long as short
Hyperliquid PONS	+0.0100%	1h	0.5942	+0.013%	$59.0M	$29.5M	3x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5929	−0.202%	$17.8M	$31.4M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5932	−0.151%	$13.4M	$56.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5937	−0.071%	$1.9M	$3.6M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5938	−0.052%	$4.7M	$11.6M	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni PONS	+0.0100%	4h	0.5930	−0.178%	$1.3M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5936	−0.086%	$34K	$319K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5945	+0.072%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5941	−0.003%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5941	+0.002%	$27K	$528K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5945	+0.074%	$64K	$506K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5940	−0.017%	$1.7M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5939	−0.033%	$370	—	3x	as long as short
MEXC PONS_USDT	+0.0198%	4h	0.5938	−0.050%	$7.5M	$5.2M	20x	as long as short
Extended PONS-USD	+0.0200%	1h	0.5937	−0.061%	$92K	$529K	5x	as long as short
Binance PONSUSDT	+0.0200%	4h	0.5935	−0.101%	$38.6M	$98.7M	20x	as long as short
BingX PONS-USDT	+0.0206%	4h	0.5935	−0.101%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0222%	4h	0.5934	−0.110%	$21K	$293K	10x	as long as short
Aster PONSUSDT	+0.0253%	4h	0.5932	−0.144%	$1.1M	$2.2M	20x	as long as short
Pacifica PONSshort	+0.0279%	1h	0.5936	−0.078%	$47K	$111K	3x
Lighter RH PONS	+0.0392%	1h	0.5941	+0.007%	$399K	$2.5M	3x	as long as short
BloFin PONS-USDT	+0.0438%	4h	0.5937	−0.067%	$1.7M	$984K	20x	as long as short
Polymarket Perps PONS-USD	+0.0475%	1h	0.5942	+0.022%	$48K	$1.8M	3x	as long as short
Phoenix PONS	+0.1232%	1h	0.5933	−0.140%	$27K	$80K	3x	as long as short
Lighter PONS	+0.1256%	1h	0.5946	+0.081%	$1.7M	$863K	3x	as long as short