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 +0.005%

Price spread now: KuCoin against Pacifica−0.055%7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$108as in the Funding arb table

Net, price: spread back to 7d avg − costs−$100as in the Price arb table

costs, in and out, $10k−$960.964% of the position

Long on Pacifica Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.120%−$12 on $10k

Price spread, last 4 days (all we have)+0.051%+$5 · spread now −0.055%, 7d avg −0.015%

Together, before fees−0.068%+ Points / potential airdropPacifica: Active · farm board−$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and KuCoin is 0.039% cheaper against Pacifica than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.015%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.120% in total (about -6.2% 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	0.5998	0.0451	pay 0.0056% / 1h	22m 04s	$47K	$96K	3x
Short	KuCoin PONSUSDTM	0.5995	0.0100	get 0.0050% / 4h	1h 22m	$1.8M	$3.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.055%Rate

Funding earned: −$73.72
Price spread: −0.055% → −0.015%: −$3.93
Slippage, 4 orders: −$76.37
Fee Pacifica: 4 bp × 2 orders: −$8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$174.01
Costs to cover: 0.964%
Break-even: never at this rate

Slippage from Pacifica: live order book, 60 min ago; KuCoin: live order book, 5 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, 60 min ago	6.26 bp	16.1 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	2.18 bp	31.7 bp −$32	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 +0.0033% / S −0.0034%	1h	0.5988	−0.170%	$220K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.473%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5995	−0.048%	$19K	$438K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5995	−0.048%	$17.9M	$31.6M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5996	−0.031%	$13.6M	$56.4M	20x	as long as short
KuCoin PONSUSDTMshort	+0.0100%	4h	0.5995	−0.055%	$1.8M	$3.7M	20x
Bitget PONSUSDT	+0.0100%	4h	0.5996	−0.033%	$4.7M	$11.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5961	−0.611%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5994	−0.060%	$35K	$350K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6002	+0.069%	$3K	$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	0.5998	−0.005%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5994	−0.061%	$27K	$548K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6006	+0.139%	$64K	$506K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5993	−0.081%	$1.7M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5995	−0.048%	$373	—	3x	as long as short
Aster PONSUSDT	+0.0145%	4h	0.5992	−0.091%	$1.1M	$2.2M	20x	as long as short
edgeX PONSUSDC	+0.0174%	4h	0.5991	−0.112%	$21K	$292K	10x	as long as short
BingX PONS-USDT	+0.0182%	4h	0.5992	−0.098%	—	$3.1M	—	as long as short
Extended PONS-USD	+0.0192%	1h	0.5996	−0.034%	$248K	$667K	5x	as long as short
MEXC PONS_USDT	+0.0192%	4h	0.5994	−0.065%	$7.7M	$4.9M	20x	as long as short
Binance PONSUSDT	+0.0192%	4h	0.5994	−0.065%	$39.0M	$97.8M	20x	as long as short
Nado PONS-PERP	+0.0234%	1h	0.5991	−0.115%	$91K	$103K	5x	as long as short
Lighter RH PONS	+0.0400%	1h	0.5995	−0.053%	$423K	$2.7M	3x	as long as short
BloFin PONS-USDT	+0.0432%	4h	0.5985	−0.215%	$1.7M	$981K	20x	as long as short
Pacifica PONSlong	+0.0451%	1h	0.5998	long leg	$47K	$96K	3x
Polymarket Perps PONS-USD	+0.0502%	1h	0.5994	−0.058%	$37K	$1.7M	3x	as long as short
Hyperliquid PONS	+0.0680%	1h	0.5995	−0.050%	$60.6M	$30.1M	3x	as long as short
Lighter PONS	+0.0752%	1h	0.5995	−0.048%	$1.7M	$998K	3x	as long as short
Gate PONS_USDT	+0.1318%	4h	0.5991	−0.115%	$5.2M	$6.5M	20x	as long as short
Phoenix PONS	+0.1398%	1h	0.5990	−0.136%	$30K	$96K	3x	as long as short