Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0164%/8h= −18.0% APRpaid last 24h −0.060%

Price spread now: Aevo against MEXC−0.093%7-day average — · you buy dearer than you sell

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

Long on MEXC 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

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Aevo is 0.093% cheaper against MEXC than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PONS_USDT	0.6097	0.0332	pay 0.0166% / 4h	3h 40m	$7.9M	$4.8M	20x
Short	Aevo PONS-PERP	0.6091	0.0168	get 0.0021% / 1h	40m 14s	$379	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against MEXC. 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 MEXCbpFee AevobpOrdersPrice spread, now −0.093%Rate

Funding earned: −$34.44
Price spread: −0.093% → 0.000%: −$9.27
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$59.71
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 3 min ago; 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 MEXC live order book, 3 min ago	0.82 bp	5.2 bp −$5	12.2 bp −$122	347.7 bp −$34.8K	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 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 +0.0033% / S −0.0033%	1h	0.6084	−0.216%	$241K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−2.091%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6093	−0.057%	$432K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6091	−0.098%	$20K	$416K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6080	−0.286%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6068	−0.471%	$33K	$357K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6095	−0.034%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6090	−0.110%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6095	−0.033%	$28K	$552K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6094	−0.054%	$65K	$511K	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex PONSUSDT	+0.0100%	4h	0.6090	−0.115%	$1.7M	$3.2M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0118%	4h	0.6093	−0.066%	$13.8M	$57.4M	20x	as long as short
KuCoin PONSUSDTM	+0.0162%	4h	0.6093	−0.069%	$1.8M	$3.8M	20x	as long as short
Aevo PONS-PERPshort	+0.0168%	1h	0.6091	−0.093%	$379	—	3x
Bitget PONSUSDT	+0.0206%	4h	0.6099	+0.038%	$4.7M	$11.6M	20x	as long as short
Aster PONSUSDT	+0.0218%	4h	0.6086	−0.179%	$1.1M	$2.2M	20x	as long as short
Gate PONS_USDT	+0.0322%	4h	0.6084	−0.213%	$5.3M	$6.2M	20x	as long as short
MEXC PONS_USDTlong	+0.0332%	4h	0.6097	long leg	$7.9M	$4.8M	20x
Binance PONSUSDT	+0.0333%	4h	0.6096	−0.016%	$39.9M	$97.5M	20x	as long as short
edgeX PONSUSDC	+0.0333%	4h	0.6078	−0.320%	$21K	$292K	10x	as long as short
Extended PONS-USD	+0.0336%	1h	0.6095	−0.037%	$252K	$683K	5x	as long as short
Lighter PONS	+0.0512%	1h	0.6096	−0.021%	$1.7M	$896K	3x	as long as short
BloFin PONS-USDT	+0.0573%	4h	0.6088	−0.148%	$1.7M	$1.0M	20x	as long as short
Nado PONS-PERP	+0.0584%	1h	0.6084	−0.208%	$105K	$116K	5x	as long as short
Bybit PONSUSDT	+0.0660%	4h	0.6089	−0.131%	$18.3M	$31.1M	20x	as long as short
Pacifica PONS	+0.0665%	1h	0.6083	−0.223%	$48K	$87K	3x	as long as short
BingX PONS-USDT	+0.0740%	4h	0.6098	+0.016%	—	$3.1M	—	as long as short
Polymarket Perps PONS-USD	+0.0788%	1h	0.6089	−0.136%	$43K	$1.6M	3x	as long as short
Hyperliquid PONS	+0.0933%	1h	0.6096	−0.018%	$62.0M	$29.8M	3x	as long as short
Phoenix PONS	+0.1608%	1h	0.6085	−0.205%	$31K	$113K	3x	as long as short