Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0247%/8h= −27.1% APRpaid last 24h +0.012%

Price spread now: Bybit against Pacifica+0.379%7-day average — · you sell dearer than you buy

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

Long on Pacifica Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.047%−$5 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropPacifica: Active · farm boardneeds both histories

The price spread pays, funding is against you. Bybit is 0.379% dearer against Pacifica than usual: you sell high and buy low (spread +0.379% now, against zero (this spread has no 7-day history yet)): +$38 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 5.1 days. At the pace of the last 7 days (−0.047% in total) that is about 56 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.047% in total (about -2.5% 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	Pacifica PONS	0.5962	0.0755	pay 0.0094% / 1h	45m 11s	$47K	$72K	3x
Short	Bybit PONSUSDT	0.5985	0.0508	get 0.0254% / 4h	1h 45m	$17.9M	$30.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Pacifica. 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 PacificabpFee BybitbpOrdersPrice spread, now +0.379%Rate

Funding earned: −$51.96
Price spread: +0.379% → 0.000%: $37.9
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$33.06
Costs to cover: 0.190%
Break-even: from the start

Slippage unknown: Pacifica: no order-book sample; Bybit: live order book, 4 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 Pacifica no order-book sample	—	—	—	—	—
Sell Bybit live order book, 4 min ago	2.51 bp	19.3 bp −$19	50.7 bp −$507	doesn't fit	doesn't fit

Pacifica: 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	0.5968	+0.102%	$236K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+0.119%	$614	$10K	5.5x	as long as short
Lighter PONS	+0.0096%	1h	0.5985	+0.381%	$1.7M	$874K	3x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5984	+0.362%	$419K	$2.5M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5978	+0.262%	$20K	$423K	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5962	−0.002%	$33K	$351K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5979	+0.280%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5980	+0.302%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5984	+0.359%	$26K	$517K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5993	+0.510%	$64K	$507K	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	0.5984	+0.362%	$1.6M	$3.2M	20x	as long as short
Variational Omni PONS	+0.0105%	4h	0.5961	−0.024%	$1.4M	$3.9M	—	as long as short
Aevo PONS-PERP	+0.0192%	1h	0.5971	+0.152%	$372	—	3x	as long as short
Nado PONS-PERP	+0.0235%	1h	0.5972	+0.165%	$70K	$129K	5x	as long as short
OKX PONS-USDT-SWAP	+0.0280%	4h	0.5985	+0.379%	$13.7M	$54.1M	20x	as long as short
KuCoin PONSUSDTM	+0.0346%	4h	0.5986	+0.401%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0382%	4h	0.5992	+0.505%	$4.7M	$11.3M	20x	as long as short
Aster PONSUSDT	+0.0393%	4h	0.5972	+0.154%	$1.1M	$2.0M	20x	as long as short
MEXC PONS_USDT	+0.0458%	4h	0.5987	+0.413%	$7.6M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0461%	4h	0.5989	+0.446%	$39.2M	$93.7M	20x	as long as short
Extended PONS-USD	+0.0464%	1h	0.5978	+0.258%	$246K	$670K	5x	as long as short
edgeX PONSUSDC	+0.0470%	4h	0.5954	−0.142%	$18K	$295K	10x	as long as short
BingX PONS-USDT	+0.0498%	4h	0.5992	+0.496%	—	$3.0M	—	as long as short
Bybit PONSUSDTshort	+0.0508%	4h	0.5985	+0.379%	$17.9M	$30.3M	20x
Gate PONS_USDT	+0.0518%	4h	0.5987	+0.413%	$5.2M	$6.2M	20x	as long as short
Hyperliquid PONS	+0.0700%	1h	0.5987	+0.413%	$61.0M	$27.7M	3x	as long as short
BloFin PONS-USDT	+0.0701%	4h	0.5986	+0.396%	$1.8M	$953K	20x	as long as short
Pacifica PONSlong	+0.0755%	1h	0.5962	long leg	$47K	$72K	3x
Polymarket Perps PONS-USD	+0.0758%	1h	0.5978	+0.253%	$49K	$1.6M	3x	as long as short
Phoenix PONS	+0.1639%	1h	0.5973	+0.174%	$31K	$98K	3x	as long as short