Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.069%

Price spread now: Orderly against Variational Omni+0.233%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Orderly is 0.233% dearer against Variational Omni than usual: you sell high and buy low, +$23 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni PONS	0.5976	0.0100	pay 0.0050% / 4h	2h 55m	$1.4M	$4.1M	—
Short	Orderly PERP_PONS_USDC_mythos	0.5989	0.0100	get 0.0050% / 4h	2h 55m	$2K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Variational Omni. 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 Variational OmnibpFee OrderlybpOrdersPrice spread, now +0.233%Rate

Funding earned: $0
Price spread: +0.233% → 0.000%: $23.31
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: $17.31
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; 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 Variational Omni RFQ quote, 4 min ago	7.44 bp	doesn't fit	33.9 bp −$339	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

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 −0.0033%	1h	0.5977	+0.019%	$237K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.102%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5984	+0.141%	$421K	$2.5M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5985	+0.158%	$16K	$420K	20x	as long as short
Variational Omni PONSlong	+0.0100%	4h	0.5976	long leg	$1.4M	$4.1M	—
ApeX Omni PONSUSDT	+0.0100%	1h	0.6016	+0.672%	$33K	$353K	5x	as long as short
Orderly PERP_PONS_USDC_mythosshort	+0.0100%	4h	0.5989	+0.233%	$2K	$3K	10x
SunX PONS-USDT	+0.0100%	4h	0.5989	+0.230%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5985	+0.158%	$26K	$533K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5998	+0.377%	$64K	$510K	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	0.5989	+0.225%	$1.6M	$3.2M	20x	as long as short
Lighter PONS	+0.0144%	1h	0.5984	+0.141%	$1.7M	$881K	3x	as long as short
Aevo PONS-PERP	+0.0176%	1h	0.5985	+0.162%	$373	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0228%	4h	0.5982	+0.108%	$13.7M	$55.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0240%	4h	0.5978	+0.049%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0288%	4h	0.5984	+0.138%	$4.6M	$11.4M	20x	as long as short
Aster PONSUSDT	+0.0294%	4h	0.5982	+0.108%	$1.1M	$2.0M	20x	as long as short
Nado PONS-PERP	+0.0333%	1h	0.5986	+0.174%	$103K	$115K	5x	as long as short
Extended PONS-USD	+0.0376%	1h	0.5983	+0.117%	$248K	$682K	5x	as long as short
Binance PONSUSDT	+0.0379%	4h	0.5984	+0.141%	$39.3M	$96.1M	20x	as long as short
MEXC PONS_USDT	+0.0382%	4h	0.5984	+0.141%	$7.8M	$4.7M	20x	as long as short
Bybit PONSUSDT	+0.0398%	4h	0.5980	+0.074%	$18.0M	$30.8M	20x	as long as short
edgeX PONSUSDC	+0.0403%	4h	0.6016	+0.677%	$21K	$291K	10x	as long as short
BingX PONS-USDT	+0.0434%	4h	0.5990	+0.241%	—	$3.1M	—	as long as short
Hyperliquid PONS	+0.0608%	1h	0.5989	+0.228%	$60.9M	$29.0M	3x	as long as short
BloFin PONS-USDT	+0.0619%	4h	0.5985	+0.158%	$1.8M	$980K	20x	as long as short
Polymarket Perps PONS-USD	+0.0682%	1h	0.5984	+0.133%	$46K	$1.6M	3x	as long as short
Pacifica PONS	+0.0869%	1h	0.5984	+0.138%	$47K	$78K	3x	as long as short
Gate PONS_USDT	+0.0904%	4h	0.5988	+0.208%	$5.2M	$6.0M	20x	as long as short
Phoenix PONS	+0.1608%	1h	0.6036	+1.015%	$31K	$107K	3x	as long as short