Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0351%/8h= +38.4% APRpaid last 24h +0.033%

Price spread now: Pacifica against OKX+0.187%7-day average +0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$590.594% of the position

Long on OKX Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.098%+$10 on $10k

Price spread, last 4 days (all we have)−0.233%−$23 · spread now +0.187%, 7d avg +0.021%

Together, before fees−0.134%+ Points / potential airdropPacifica: Active · farm board−$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Pacifica is 0.166% dearer against OKX than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of +0.021%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.098% in total (about 5.1% 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	OKX PONS-USDT-SWAP	0.5924	0.0100	pay 0.0050% / 4h	1h 50m	$13.5M	$56.1M	20x
Short	Pacifica PONS	0.5935	0.0451	get 0.0056% / 1h	50m 18s	$47K	$103K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against OKX. 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 OKXbpFee PacificabpOrdersPrice spread, now +0.187%Rate

Funding earned: $73.72
Price spread: +0.187% → +0.021%: $16.57
Slippage, 4 orders: −$41.42
Fee OKX: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: $30.87
Costs to cover: 0.594%
Break-even: 4.1 days

Slippage from OKX: live order book, 3 min ago; Pacifica: live order book, 32 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 OKX live order book, 3 min ago	0.85 bp	12.6 bp −$13	28.7 bp −$287	doesn't fit	doesn't fit
Sell Pacifica live order book, 32 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	0.5920	−0.064%	$217K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5920	−0.074%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5934	+0.169%	$21K	$440K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5922	−0.034%	$17.7M	$31.7M	20x	as long as short
OKX PONS-USDT-SWAPlong	+0.0100%	4h	0.5924	long leg	$13.5M	$56.1M	20x
KuCoin PONSUSDTM	+0.0100%	4h	0.5935	+0.182%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5928	+0.076%	$4.7M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5905	−0.321%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5908	−0.273%	$34K	$342K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5931	+0.127%	$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	0.5930	+0.101%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5925	+0.024%	$27K	$544K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5920	−0.064%	$64K	$505K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5912	−0.203%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0120%	1h	0.5927	+0.042%	$369	—	3x	as long as short
Aster PONSUSDT	+0.0135%	4h	0.5925	+0.014%	$1.1M	$2.2M	20x	as long as short
Extended PONS-USD	+0.0160%	1h	0.5925	+0.018%	$106K	$522K	5x	as long as short
Binance PONSUSDT	+0.0164%	4h	0.5926	+0.034%	$38.5M	$97.8M	20x	as long as short
MEXC PONS_USDT	+0.0164%	4h	0.5929	+0.084%	$7.5M	$4.9M	20x	as long as short
Nado PONS-PERP	+0.0169%	1h	0.5932	+0.141%	$90K	$103K	5x	as long as short
BingX PONS-USDT	+0.0174%	4h	0.5926	+0.034%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0192%	4h	0.5904	−0.340%	$21K	$293K	10x	as long as short
Lighter RH PONS	+0.0368%	1h	0.5932	+0.128%	$407K	$2.6M	3x	as long as short
BloFin PONS-USDT	+0.0405%	4h	0.5917	−0.118%	$1.7M	$975K	20x	as long as short
Pacifica PONSshort	+0.0451%	1h	0.5935	+0.187%	$47K	$103K	3x
Polymarket Perps PONS-USD	+0.0474%	1h	0.5935	+0.179%	$37K	$1.8M	3x	as long as short
Hyperliquid PONS	+0.0609%	1h	0.5937	+0.213%	$59.7M	$29.9M	3x	as long as short
Lighter PONS	+0.0776%	1h	0.5934	+0.167%	$1.7M	$984K	3x	as long as short
Gate PONS_USDT	+0.1092%	4h	0.5923	−0.017%	$5.2M	$6.4M	20x	as long as short
Phoenix PONS	+0.1398%	1h	0.5917	−0.127%	$30K	$96K	3x	as long as short