Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0615%/8h= −67.4% APRpaid last 24h −0.121%

Price spread now: Orderly against Pacifica+0.118%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 Orderly

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

The price spread pays, funding is against you. Orderly is 0.118% dearer against Pacifica than usual: you sell high and buy low (spread +0.118% now, against zero (this spread has no 7-day history yet)): +$12 on $10k if it goes back. Holding the pair costs −$18 a day in funding at the current rate, which eats that in about 15 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica PONS	0.5899	0.0715	pay 0.0089% / 1h	40m 21s	$46K	$68K	3x
Short	Orderly PERP_PONS_USDC_mythos	0.5906	0.0100	get 0.0050% / 4h	2h 40m	$2K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.118%Rate

Funding earned: −$129.24
Price spread: +0.118% → 0.000%: $11.8
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$131.44
Costs to cover: 0.140%
Break-even: never at this rate

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

Pacifica and 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 +0.0033% / S −0.0032%	1h	0.5893	−0.098%	$234K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+1.200%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5903	+0.072%	$417K	$2.5M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5896	−0.046%	$21K	$418K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5898	−0.004%	$69K	$130K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5914	+0.252%	$34K	$335K	5x	as long as short
Orderly PERP_PONS_USDC_mythosshort	+0.0100%	4h	0.5906	+0.118%	$2K	$3K	10x
SunX PONS-USDT	+0.0100%	4h	0.5918	+0.328%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5915	+0.271%	$25K	$546K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5944	+0.771%	$64K	$512K	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	0.5915	+0.276%	$1.6M	$3.2M	20x	as long as short
Gate PONS_USDT	+0.0134%	4h	0.5895	−0.063%	$5.2M	$6.2M	20x	as long as short
Aevo PONS-PERP	+0.0232%	1h	0.5897	−0.038%	$367	—	3x	as long as short
Hyperliquid PONS	+0.0250%	1h	0.5895	−0.063%	$59.7M	$29.0M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0359%	4h	0.5902	+0.055%	$13.4M	$54.5M	20x	as long as short
Aster PONSUSDT	+0.0478%	4h	0.5899	+0.012%	$1.1M	$2.2M	20x	as long as short
Variational Omni PONS	+0.0551%	4h	0.5915	+0.277%	$1.4M	$4.1M	—	as long as short
Bitget PONSUSDT	+0.0556%	4h	0.5896	−0.041%	$4.7M	$11.8M	20x	as long as short
Binance PONSUSDT	+0.0603%	4h	0.5897	−0.028%	$38.6M	$94.7M	20x	as long as short
Extended PONS-USD	+0.0608%	1h	0.5898	−0.017%	$106K	$807K	5x	as long as short
MEXC PONS_USDT	+0.0608%	4h	0.5895	−0.063%	$7.5M	$4.7M	20x	as long as short
edgeX PONSUSDC	+0.0627%	4h	0.5923	+0.416%	$20K	$294K	10x	as long as short
Lighter PONS	+0.0632%	1h	0.5905	+0.106%	$1.6M	$886K	3x	as long as short
Pacifica PONSlong	+0.0715%	1h	0.5899	long leg	$46K	$68K	3x
KuCoin PONSUSDTM	+0.0730%	4h	0.5895	−0.072%	$1.6M	$3.8M	20x	as long as short
Polymarket Perps PONS-USD	+0.0780%	1h	0.5895	−0.063%	$87K	$1.7M	3x	as long as short
Bybit PONSUSDT	+0.0805%	4h	0.5900	+0.021%	$17.6M	$31.0M	20x	as long as short
BingX PONS-USDT	+0.0808%	4h	0.5904	+0.089%	—	$3.0M	—	as long as short
BloFin PONS-USDT	+0.0848%	4h	0.5919	+0.343%	$1.7M	$943K	20x	as long as short
Phoenix PONS	+0.1719%	1h	0.5922	+0.388%	$45K	$121K	3x	as long as short