Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0020%/8h= +2.2% APRpaid last 24h +0.027%

Price spread now: Aevo against Phemex+0.017%7-day average — · you sell dearer than you buy

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

Long on Phemex Short on Aevo

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—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex PONSUSDT	0.5895	0.0100	pay 0.0050% / 4h	2h 33m	$1.7M	$3.3M	20x
Short	Aevo PONS-PERP	0.5896	0.0120	get 0.0015% / 1h	33m 49s	$367	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Phemex. 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 PhemexbpFee AevobpOrdersPrice spread, now +0.017%Rate

Funding earned: $4.2
Price spread: +0.017% → 0.000%: $1.7
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$22.1
Costs to cover: 0.280%
Break-even: 43.8 days

Slippage unknown: Phemex: live order book, 5 min ago; Aevo: 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 Phemex live order book, 5 min ago	2.57 bp	30.9 bp −$31	doesn't fit	doesn't fit	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

Aevo: 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	0.5892	−0.045%	$216K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+0.417%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5899	+0.068%	$21K	$447K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5899	+0.068%	$17.7M	$31.8M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5900	+0.085%	$13.4M	$56.1M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5898	+0.051%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5899	+0.071%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5865	−0.504%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5866	−0.490%	$34K	$330K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5906	+0.187%	$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	0.5898	+0.047%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5897	+0.027%	$27K	$549K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5906	+0.192%	$64K	$504K	20x	as long as short
Phemex PONSUSDTlong	+0.0100%	4h	0.5895	long leg	$1.7M	$3.3M	20x
Aevo PONS-PERPshort	+0.0120%	1h	0.5896	+0.017%	$367	—	3x
Nado PONS-PERP	+0.0149%	1h	0.5898	+0.053%	$89K	$103K	5x	as long as short
BingX PONS-USDT	+0.0154%	4h	0.5896	+0.017%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0163%	4h	0.5834	−1.043%	$20K	$292K	10x	as long as short
MEXC PONS_USDT	+0.0182%	4h	0.5900	+0.085%	$7.5M	$5.2M	20x	as long as short
Binance PONSUSDT	+0.0182%	4h	0.5899	+0.073%	$38.3M	$98.3M	20x	as long as short
Extended PONS-USD	+0.0184%	1h	0.5898	+0.055%	$105K	$533K	5x	as long as short
Gate PONS_USDT	+0.0206%	4h	0.5892	−0.051%	$5.1M	$6.8M	20x	as long as short
Aster PONSUSDT	+0.0223%	4h	0.5902	+0.122%	$1.1M	$2.2M	20x	as long as short
Polymarket Perps PONS-USD	+0.0335%	1h	0.5898	+0.059%	$38K	$1.8M	3x	as long as short
BloFin PONS-USDT	+0.0409%	4h	0.5900	+0.085%	$1.7M	$968K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5898	+0.058%	$47K	$103K	3x	as long as short
Hyperliquid PONS	+0.0542%	1h	0.5897	+0.034%	$58.9M	$30.0M	3x	as long as short
Lighter RH PONS	+0.0592%	1h	0.5900	+0.083%	$394K	$2.6M	3x	as long as short
Lighter PONS	+0.1128%	1h	0.5906	+0.183%	$1.7M	$881K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5836	−0.994%	$27K	$86K	3x	as long as short