Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0179%/8h= +19.6% APRpaid last 24h 0.000%

Price spread now: Pacifica against Variational Omni−0.068%7-day average +0.047% · you buy dearer than you sell

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

Long on Variational Omni Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.194%+$19 on $10k

Price spread, last 4 days (all we have)+1.728%+$173 · spread now −0.068%, 7d avg +0.047%

Together, before fees+1.921%+ Points / potential airdropVariational Omni: Active · Pacifica: Active · farm board+$192 on $10k · with fees, hour by hour

Funding pays, the price is against you. Pacifica is 0.115% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.068% now, against its 7-day average of +0.047%). If the spread goes back, that is −$11 on $10k: about 2.1 days of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni PONS	0.5930	0.0100	pay 0.0050% / 4h	3h 29m	$1.3M	$4.2M	—
Short	Pacifica PONS	0.5926	0.0279	get 0.0035% / 1h	29m 23s	$47K	$111K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 PacificabpOrdersPrice spread, now −0.068%Rate

Funding earned: $37.65
Price spread: −0.068% → +0.047%: −$11.45
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Pacifica: 4 bp × 2 orders: −$8
Net: $18.19
Costs to cover: 0.080%
Break-even: 3.6 days

Slippage unknown: Variational Omni: RFQ quote, just now; Pacifica: live order book, 18 min ago. 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, just now	5.05 bp	doesn't fit	37.0 bp −$370	doesn't fit	doesn't fit
Sell Pacifica live order book, 18 min ago	7.21 bp	15.5 bp −$15	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
Gate PONS_USDT	−0.0268%	4h	0.5920	−0.176%	$5.2M	$7.0M	20x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0032% / S −0.0032%	1h	0.5904	−0.451%	$212K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5863	−1.138%	$603	$3K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5917	−0.226%	$21K	$475K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5920	−0.174%	$73K	$95K	5x	as long as short
Hyperliquid PONS	+0.0100%	1h	0.5913	−0.299%	$58.7M	$29.5M	3x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5906	−0.412%	$17.8M	$31.2M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5907	−0.395%	$13.3M	$56.0M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5910	−0.339%	$1.8M	$3.6M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5910	−0.336%	$4.6M	$11.5M	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni PONSlong	+0.0100%	4h	0.5930	long leg	$1.3M	$4.2M	—
ApeX Omni PONSUSDT	+0.0100%	1h	0.5936	+0.093%	$34K	$319K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5920	−0.179%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5941	+0.175%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5941	+0.180%	$27K	$528K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5945	+0.253%	$64K	$506K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5940	+0.162%	$1.7M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5915	−0.252%	$369	—	3x	as long as short
Extended PONS-USD	+0.0200%	1h	0.5914	−0.283%	$92K	$529K	5x	as long as short
MEXC PONS_USDT	+0.0200%	4h	0.5912	−0.310%	$7.4M	$5.2M	20x	as long as short
Binance PONSUSDT	+0.0202%	4h	0.5913	−0.297%	$38.5M	$98.6M	20x	as long as short
BingX PONS-USDT	+0.0206%	4h	0.5910	−0.344%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0210%	4h	0.5935	+0.074%	$21K	$294K	10x	as long as short
Aster PONSUSDT	+0.0252%	4h	0.5922	−0.135%	$1.1M	$2.2M	20x	as long as short
Pacifica PONSshort	+0.0279%	1h	0.5926	−0.068%	$47K	$111K	3x
Lighter RH PONS	+0.0392%	1h	0.5926	−0.081%	$398K	$2.5M	3x	as long as short
BloFin PONS-USDT	+0.0438%	4h	0.5937	+0.111%	$1.7M	$984K	20x	as long as short
Polymarket Perps PONS-USD	+0.0464%	1h	0.5912	−0.317%	$48K	$1.8M	3x	as long as short
Phoenix PONS	+0.1232%	1h	0.5933	+0.039%	$27K	$80K	3x	as long as short
Lighter PONS	+0.1248%	1h	0.5932	+0.025%	$1.7M	$864K	3x	as long as short