Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0252%/8h= +27.6% APRpaid last 24h +0.061%

Price spread now: Binance against Aevo+0.124%48s7-day average — · you sell dearer than you buy

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

Long on Aevo Short on Binance

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

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Binance is 0.124% dearer against Aevo than usual: you sell high and buy low: +$12 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo PONS-PERP	0.6051	0.0192	pay 0.0024% / 1h	4m 24s	$377	—	3x
Short	Binance PONSUSDT	0.6059	0.0444	get 0.0222% / 4h	2h 04m	$39.6M	$94.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Aevo. 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 AevobpFee BinancebpOrdersPrice spread, now +0.124%Rate

Funding earned: $52.86
Price spread: +0.124% → 0.000%: $12.39
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Binance: 5 bp × 2 orders: −$10
Net: $39.25
Costs to cover: 0.260%
Break-even: 1.8 days

Slippage unknown: Aevo: no order-book sample; Binance: live order book, 8 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 Aevo no order-book sample	—	—	—	—	—
Sell Binance live order book, 8 min ago	0.83 bp	12.4 bp −$12	45.6 bp −$456	265.6 bp −$26.6K	doesn't fit

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 29 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	0.6049	−0.047%	$240K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.355%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6058	+0.107%	$20K	$422K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6054	+0.049%	$1.4M	$3.9M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6060	+0.149%	$33K	$352K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6058	+0.099%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6051	−0.015%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6049	−0.033%	$26K	$520K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6061	+0.164%	$64K	$509K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6050	−0.025%	$1.7M	$3.2M	20x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH PONS	+0.0144%	1h	0.6053	+0.023%	$424K	$2.5M	3x	as long as short
Aevo PONS-PERPlong	+0.0192%	1h	0.6051	long leg	$377	—	3x
Lighter PONS	+0.0208%	1h	0.6054	+0.041%	$1.7M	$889K	3x	as long as short
OKX PONS-USDT-SWAP	+0.0254%	4h	0.6059	+0.124%	$13.9M	$54.9M	20x	as long as short
Nado PONS-PERP	+0.0272%	1h	0.6056	+0.080%	$71K	$131K	5x	as long as short
KuCoin PONSUSDTM	+0.0288%	4h	0.6055	+0.056%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0358%	4h	0.6067	+0.263%	$4.7M	$11.3M	20x	as long as short
BingX PONS-USDT	+0.0410%	4h	0.6062	+0.174%	—	$3.0M	—	as long as short
Aster PONSUSDT	+0.0437%	4h	0.6052	+0.013%	$1.1M	$2.0M	20x	as long as short
edgeX PONSUSDC	+0.0440%	4h	0.6058	+0.106%	$21K	$292K	10x	as long as short
Binance PONSUSDTshort	+0.0444%	4h	0.6059	+0.124%	$39.6M	$94.2M	20x
MEXC PONS_USDT	+0.0444%	4h	0.6060	+0.140%	$7.8M	$4.8M	20x	as long as short
Extended PONS-USD	+0.0448%	1h	0.6057	+0.092%	$250K	$670K	5x	as long as short
Bybit PONSUSDT	+0.0460%	4h	0.6052	+0.008%	$18.1M	$30.4M	20x	as long as short
Hyperliquid PONS	+0.0715%	1h	0.6058	+0.112%	$61.7M	$27.8M	3x	as long as short
Polymarket Perps PONS-USD	+0.0778%	1h	0.6059	+0.132%	$48K	$1.5M	3x	as long as short
Gate PONS_USDT	+0.0790%	4h	0.6047	−0.074%	$5.3M	$6.2M	20x	as long as short
Pacifica PONS	+0.0869%	1h	0.6055	+0.065%	$48K	$75K	3x	as long as short
Phoenix PONS	+0.1695%	1h	0.6022	−0.487%	$31K	$107K	3x	as long as short