Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.056%

Price spread now: Bybit against KuCoin−0.069%7-day average −0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$86as in the Funding arb table

Net, price: spread back to 7d avg − costs−$102as in the Price arb table

costs, in and out, $10k−$960.958% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.102%+$10 on $10k

Price spread, last 7 days+0.066%+$7 · spread now −0.069%, 7d avg −0.004%

Together, before fees+0.168%+$17 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.065% cheaper against KuCoin than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PONSUSDTM	0.5960	0.0100	pay 0.0050% / 4h	1h 36m	$1.8M	$3.7M	20x
Short	Bybit PONSUSDT	0.5956	0.0100	get 0.0050% / 4h	1h 36m	$17.8M	$31.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against KuCoin. 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 KuCoinbpFee BybitbpOrdersPrice spread, now −0.069%Rate

Funding earned: $0
Price spread: −0.069% → −0.004%: −$6.48
Slippage, 4 orders: −$72.81
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$102.3
Costs to cover: 0.958%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; Bybit: live order book, 2 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 KuCoin live order book, 6 min ago	3.01 bp	22.0 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	0.84 bp	15.6 bp −$16	43.1 bp −$431	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	0.5954	−0.098%	$218K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+0.158%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5960	−0.002%	$17K	$438K	20x	as long as short
Bybit PONSUSDTshort	+0.0100%	4h	0.5956	−0.069%	$17.8M	$31.6M	20x
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5956	−0.069%	$13.5M	$56.0M	20x	as long as short
KuCoin PONSUSDTMlong	+0.0100%	4h	0.5960	long leg	$1.8M	$3.7M	20x
Bitget PONSUSDT	+0.0100%	4h	0.5962	+0.030%	$4.7M	$11.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5973	+0.222%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5986	+0.430%	$35K	$345K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5965	+0.089%	$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	0.5964	+0.062%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5958	−0.034%	$27K	$548K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5979	+0.320%	$64K	$506K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5953	−0.119%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5957	−0.055%	$371	—	3x	as long as short
Aster PONSUSDT	+0.0155%	4h	0.5960	+0.007%	$1.1M	$2.2M	20x	as long as short
Binance PONSUSDT	+0.0174%	4h	0.5956	−0.069%	$38.7M	$97.7M	20x	as long as short
BingX PONS-USDT	+0.0182%	4h	0.5959	−0.018%	—	$3.1M	—	as long as short
Extended PONS-USD	+0.0184%	1h	0.5958	−0.035%	$247K	$667K	5x	as long as short
MEXC PONS_USDT	+0.0188%	4h	0.5958	−0.035%	$7.7M	$4.9M	20x	as long as short
edgeX PONSUSDC	+0.0199%	4h	0.5981	+0.351%	$21K	$292K	10x	as long as short
Nado PONS-PERP	+0.0218%	1h	0.5960	−0.002%	$90K	$103K	5x	as long as short
BloFin PONS-USDT	+0.0421%	4h	0.5965	+0.082%	$1.7M	$981K	20x	as long as short
Pacifica PONS	+0.0451%	1h	0.5961	+0.023%	$47K	$96K	3x	as long as short
Lighter RH PONS	+0.0456%	1h	0.5958	−0.027%	$419K	$2.7M	3x	as long as short
Polymarket Perps PONS-USD	+0.0491%	1h	0.5961	+0.008%	$37K	$1.7M	3x	as long as short
Hyperliquid PONS	+0.0621%	1h	0.5962	+0.036%	$60.1M	$30.0M	3x	as long as short
Lighter PONS	+0.0784%	1h	0.5959	−0.012%	$1.7M	$991K	3x	as long as short
Gate PONS_USDT	+0.1368%	4h	0.5956	−0.069%	$5.2M	$6.5M	20x	as long as short
Phoenix PONS	+0.1398%	1h	0.5976	+0.262%	$30K	$96K	3x	as long as short