Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0277%/8h= −30.4% APRpaid last 24h +0.015%

Price spread now: edgeX against Pacifica−0.024%52s7-day average +0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$780.784% of the position

Long on Pacifica Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.109%+$11 on $10k

Price spread, last 3 days (all we have)+0.209%+$21 · spread now −0.024%, 7d avg +0.013%

Together, before fees+0.318%+ Points / potential airdropPacifica: Active · edgeX: Active · farm board+$32 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and edgeX is 0.037% cheaper against Pacifica than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.013%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.109%, so the current rate has only just turned against you. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.109% in total (about 5.7% 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	0.5947	0.0474	pay 0.0059% / 1h	58m 24s	$47K	$102K	3x
Short	edgeX PONSUSDC	0.5945	0.0197	get 0.0098% / 4h	2h 58m	$21K	$294K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.024%Rate

Funding earned: −$58.23
Price spread: −0.024% → +0.013%: −$3.7
Slippage, 4 orders: −$61.35
Fee Pacifica: 4 bp × 2 orders: −$8
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$140.29
Costs to cover: 0.784%
Break-even: never at this rate

Slippage from Pacifica: live order book, 29 min ago; edgeX: live order book, 29 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 Pacifica live order book, 29 min ago	9.20 bp	21.8 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 29 min ago	11.84 bp	20.7 bp −$21	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 −0.0032%	1h	0.5941	−0.089%	$213K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	−0.457%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5944	−0.046%	$21K	$461K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5943	−0.063%	$18.1M	$31.4M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5941	−0.097%	$13.6M	$56.4M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5945	−0.030%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5949	+0.031%	$4.7M	$11.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5963	+0.266%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5949	+0.034%	$34K	$325K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5972	+0.429%	$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	0.5963	+0.278%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5968	+0.364%	$27K	$539K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5989	+0.715%	$64K	$503K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5962	+0.256%	$1.7M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5966	+0.329%	$372	—	3x	as long as short
Gate PONS_USDT	+0.0174%	4h	0.5945	−0.030%	$5.2M	$6.7M	20x	as long as short
BingX PONS-USDT	+0.0182%	4h	0.5947	+0.004%	—	$3.1M	—	as long as short
MEXC PONS_USDT	+0.0188%	4h	0.5945	−0.030%	$7.8M	$5.1M	20x	as long as short
Binance PONSUSDT	+0.0191%	4h	0.5949	+0.030%	$38.8M	$98.4M	20x	as long as short
Extended PONS-USD	+0.0192%	1h	0.5945	−0.029%	$107K	$535K	5x	as long as short
edgeX PONSUSDCshort	+0.0197%	4h	0.5945	−0.024%	$21K	$294K	10x
Lighter RH PONS	+0.0224%	1h	0.5950	+0.060%	$402K	$2.5M	3x	as long as short
Nado PONS-PERP	+0.0251%	1h	0.5949	+0.042%	$84K	$100K	5x	as long as short
Aster PONSUSDT	+0.0267%	4h	0.5953	+0.098%	$1.1M	$2.2M	20x	as long as short
Polymarket Perps PONS-USD	+0.0395%	1h	0.5946	−0.021%	$39K	$1.8M	3x	as long as short
BloFin PONS-USDT	+0.0428%	4h	0.5967	+0.340%	$1.7M	$996K	20x	as long as short
Pacifica PONSlong	+0.0474%	1h	0.5947	long leg	$47K	$102K	3x
Hyperliquid PONS	+0.0723%	1h	0.5949	+0.039%	$59.5M	$29.7M	3x	as long as short
Phoenix PONS	+0.1232%	1h	0.5953	+0.098%	$27K	$80K	3x	as long as short
Lighter PONS	+0.1368%	1h	0.5952	+0.095%	$1.7M	$879K	3x	as long as short