Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0108%/8h= +11.8% APRpaid last 24h +0.023%

Price spread now: Aevo against Orderly−0.103%7-day average — · you buy dearer than you sell

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

Long on Orderly 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

Funding pays, the price is against you. Aevo is 0.103% cheaper against Orderly than usual: you would sell low and buy high (spread −0.103% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 3.2 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_PONS_USDC_mythos	0.6014	0.0100	pay 0.0050% / 4h	1h 16m	$2K	$3K	10x
Short	Aevo PONS-PERP	0.6007	0.0208	get 0.0026% / 1h	16m 31s	$374	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Orderly. 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 OrderlybpFee AevobpOrdersPrice spread, now −0.103%Rate

Funding earned: $22.68
Price spread: −0.103% → 0.000%: −$10.29
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$9.61
Costs to cover: 0.220%
Break-even: 10.0 days

Slippage unknown: Orderly: no order-book sample; 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 Orderly no order-book sample	—	—	—	—	—
Sell Aevo no order-book sample	—	—	—	—	—

Orderly and 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	0.6004	−0.150%	$238K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.732%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6027	+0.224%	$21K	$434K	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5984	−0.497%	$33K	$351K	5x	as long as short
Orderly PERP_PONS_USDC_mythoslong	+0.0100%	4h	0.6014	long leg	$2K	$3K	10x
SunX PONS-USDT	+0.0100%	4h	0.6020	+0.110%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6015	+0.025%	$26K	$527K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6045	+0.529%	$64K	$508K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6014	+0.008%	$1.7M	$3.2M	20x	as long as short
Gate PONS_USDT	+0.0118%	4h	0.6018	+0.075%	$5.3M	$6.3M	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	+0.0189%	4h	0.5977	−0.609%	$1.4M	$3.9M	—	as long as short
Nado PONS-PERP	+0.0204%	1h	0.6035	+0.360%	$71K	$129K	5x	as long as short
Aevo PONS-PERPshort	+0.0208%	1h	0.6007	−0.103%	$374	—	3x
Lighter RH PONS	+0.0264%	1h	0.6029	+0.263%	$416K	$2.5M	3x	as long as short
Lighter PONS	+0.0296%	1h	0.6025	+0.185%	$1.7M	$875K	3x	as long as short
OKX PONS-USDT-SWAP	+0.0301%	4h	0.6042	+0.474%	$13.6M	$55.2M	20x	as long as short
Bitget PONSUSDT	+0.0408%	4h	0.6027	+0.221%	$4.7M	$11.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0436%	4h	0.6028	+0.248%	$1.7M	$3.7M	20x	as long as short
Aster PONSUSDT	+0.0436%	4h	0.6026	+0.201%	$1.1M	$2.1M	20x	as long as short
BingX PONS-USDT	+0.0488%	4h	0.6029	+0.258%	—	$3.0M	—	as long as short
Bybit PONSUSDT	+0.0498%	4h	0.6039	+0.424%	$18.0M	$30.6M	20x	as long as short
Extended PONS-USD	+0.0504%	1h	0.6026	+0.215%	$249K	$671K	5x	as long as short
MEXC PONS_USDT	+0.0506%	4h	0.6028	+0.241%	$7.6M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0508%	4h	0.6032	+0.315%	$39.5M	$94.2M	20x	as long as short
edgeX PONSUSDC	+0.0511%	4h	0.6000	−0.219%	$18K	$293K	10x	as long as short
Hyperliquid PONS	+0.0729%	1h	0.6030	+0.282%	$61.4M	$27.8M	3x	as long as short
BloFin PONS-USDT	+0.0748%	4h	0.6026	+0.208%	$1.7M	$967K	20x	as long as short
Pacifica PONS	+0.0755%	1h	0.6029	+0.251%	$47K	$70K	3x	as long as short
Polymarket Perps PONS-USD	+0.0833%	1h	0.6018	+0.075%	$68K	$1.6M	3x	as long as short
Phoenix PONS	+0.1639%	1h	0.5961	−0.868%	$31K	$98K	3x	as long as short