Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0351%/8h= +38.4% APRpaid last 24h +0.089%

Price spread now: Pacifica against Orderly−0.086%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 Pacifica

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—+ Points / potential airdropPacifica: Active · farm boardneeds both histories

Funding pays, the price is against you. Pacifica is 0.086% cheaper against Orderly than usual: you would sell low and buy high (spread −0.086% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 20 hours of funding at the current rate (+$11 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_PONS_USDC_mythos	0.5914	0.0100	pay 0.0050% / 4h	1h 51m	$2K	$3K	10x
Short	Pacifica PONS	0.5909	0.0451	get 0.0056% / 1h	51m 39s	$47K	$103K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.086%Rate

Funding earned: $73.72
Price spread: −0.086% → 0.000%: −$8.59
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Pacifica: 4 bp × 2 orders: −$8
Net: $51.13
Costs to cover: 0.140%
Break-even: 2.1 days

Slippage unknown: Orderly: no order-book sample; Pacifica: live order book, 31 min ago. 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 Pacifica live order book, 31 min ago	6.26 bp	16.8 bp −$17	doesn't fit	doesn't fit	doesn't fit

Orderly: 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 +0.0032% / S −0.0034%	1h	0.5902	−0.197%	$216K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5920	+0.100%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5911	−0.046%	$21K	$441K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5907	−0.113%	$17.6M	$31.7M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5908	−0.096%	$13.4M	$55.9M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5907	−0.117%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5913	−0.017%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5914	+0.013%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5929	+0.267%	$34K	$342K	5x	as long as short
Orderly PERP_PONS_USDC_mythoslong	+0.0100%	4h	0.5914	long leg	$2K	$3K	10x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX PONS-USDT	+0.0100%	4h	0.5913	−0.014%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5907	−0.105%	$27K	$544K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5912	−0.030%	$63K	$505K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5906	−0.130%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5908	−0.088%	$368	—	3x	as long as short
Aster PONSUSDT	+0.0137%	4h	0.5908	−0.093%	$1.1M	$2.2M	20x	as long as short
Nado PONS-PERP	+0.0156%	1h	0.5909	−0.078%	$89K	$103K	5x	as long as short
Binance PONSUSDT	+0.0165%	4h	0.5909	−0.079%	$38.4M	$97.8M	20x	as long as short
MEXC PONS_USDT	+0.0172%	4h	0.5909	−0.079%	$7.5M	$4.9M	20x	as long as short
BingX PONS-USDT	+0.0174%	4h	0.5908	−0.096%	—	$3.1M	—	as long as short
Extended PONS-USD	+0.0176%	1h	0.5909	−0.086%	$106K	$523K	5x	as long as short
edgeX PONSUSDC	+0.0192%	4h	0.5904	−0.167%	$21K	$293K	10x	as long as short
Lighter RH PONS	+0.0296%	1h	0.5912	−0.034%	$421K	$2.6M	3x	as long as short
BloFin PONS-USDT	+0.0412%	4h	0.5905	−0.147%	$1.7M	$973K	20x	as long as short
Pacifica PONSshort	+0.0451%	1h	0.5909	−0.086%	$47K	$103K	3x
Polymarket Perps PONS-USD	+0.0455%	1h	0.5914	+0.007%	$37K	$1.8M	3x	as long as short
Hyperliquid PONS	+0.0579%	1h	0.5915	+0.019%	$59.5M	$29.9M	3x	as long as short
Lighter PONS	+0.0784%	1h	0.5914	+0.012%	$1.7M	$982K	3x	as long as short
Gate PONS_USDT	+0.1020%	4h	0.5907	−0.113%	$5.2M	$6.4M	20x	as long as short
Phoenix PONS	+0.1398%	1h	0.5917	+0.047%	$30K	$96K	3x	as long as short