Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.087%

Price spread now: SoDEX against Variational Omni+0.298%7-day average −0.007% · you sell dearer than you buy

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

Long on Variational Omni Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.111%−$11 on $10k

Price spread, last 3 days (all we have)−0.077%−$8 · spread now +0.298%, 7d avg −0.007%

Together, before fees−0.188%+ Points / potential airdropVariational Omni: Active · farm board−$19 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SoDEX is 0.306% dearer against Variational Omni than usual: you sell high and buy low, +$31 on $10k if it goes back to its 7-day average of −0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni PONS	0.6076	0.0100	pay 0.0050% / 4h	3m 15s	$1.4M	$4.2M	—
Short	SoDEX PONS-USD	0.6094	0.0100	get 0.0013% / 1h	3m 15s	$28K	$547K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.298%Rate

Funding earned: $0
Price spread: +0.298% → −0.007%: $30.55
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $22.55
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; SoDEX: live order book, 10 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, 1 min ago	7.39 bp	doesn't fit	40.2 bp −$402	doesn't fit	doesn't fit
Sell SoDEX live order book, 10 min ago	0.82 bp	65.5 bp −$65	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
Injective PONS/USDC PERP	−0.0047%	1h	0.5969	−1.748%	$614	$10K	5.5x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0033%	1h	0.6085	+0.153%	$241K	—	150x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6088	+0.196%	$426K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6096	+0.334%	$20K	$418K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.6093	+0.285%	$18.3M	$31.3M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6091	+0.252%	$13.9M	$57.7M	20x	as long as short
Variational Omni PONSlong	+0.0100%	4h	0.6076	long leg	$1.4M	$4.2M	—
ApeX Omni PONSUSDT	+0.0100%	1h	0.6100	+0.397%	$33K	$357K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6098	+0.372%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6087	+0.190%	—	$1.4M	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX PONS-USDshort	+0.0100%	1h	0.6094	+0.298%	$28K	$547K	3x
HTX PONS-USDT	+0.0100%	4h	0.6105	+0.478%	$65K	$510K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6096	+0.334%	$1.7M	$3.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0130%	4h	0.6087	+0.191%	$1.7M	$3.8M	20x	as long as short
Aster PONSUSDT	+0.0151%	4h	0.6091	+0.259%	$1.1M	$2.2M	20x	as long as short
Aevo PONS-PERP	+0.0152%	1h	0.6097	+0.350%	$380	—	3x	as long as short
Bitget PONSUSDT	+0.0168%	4h	0.6096	+0.331%	$4.7M	$11.7M	20x	as long as short
Nado PONS-PERP	+0.0211%	1h	0.6089	+0.215%	$105K	$116K	5x	as long as short
Extended PONS-USD	+0.0296%	1h	0.6097	+0.349%	$252K	$681K	5x	as long as short
MEXC PONS_USDT	+0.0296%	4h	0.6094	+0.302%	$8.0M	$4.9M	20x	as long as short
Binance PONSUSDT	+0.0297%	4h	0.6098	+0.367%	$40.0M	$98.2M	20x	as long as short
BingX PONS-USDT	+0.0304%	4h	0.6097	+0.351%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0316%	4h	0.6086	+0.171%	$21K	$293K	10x	as long as short
Lighter PONS	+0.0336%	1h	0.6088	+0.203%	$1.7M	$935K	3x	as long as short
BloFin PONS-USDT	+0.0532%	4h	0.6091	+0.252%	$1.8M	$1.0M	20x	as long as short
Polymarket Perps PONS-USD	+0.0652%	1h	0.6096	+0.339%	$42K	$1.7M	3x	as long as short
Hyperliquid PONS	+0.0835%	1h	0.6098	+0.359%	$62.1M	$29.9M	3x	as long as short
Pacifica PONS	+0.0899%	1h	0.6089	+0.212%	$48K	$96K	3x	as long as short
Phoenix PONS	+0.1307%	1h	0.6085	+0.153%	$31K	$102K	3x	as long as short
Gate PONS_USDT	+0.2160%	4h	0.6092	+0.269%	$5.3M	$6.3M	20x	as long as short