Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0064%/8h= +7.0% APRpaid last 24h +0.133%

Price spread now: BingX against Aevo−0.034%7-day average — · you buy dearer than you sell

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

Long on Aevo Short on BingX

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

Funding pays, the price is against you. BingX is 0.034% cheaper against Aevo than usual: you would sell low and buy high (spread −0.034% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 42 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo PONS-PERP	0.5987	0.0128	pay 0.0016% / 1h	18m 56s	$373	—	3x
Short	BingX PONS-USDT	0.5985	0.0192	get 0.0096% / 4h	1h 18m	—	$3.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.034%Rate

Funding earned: $13.44
Price spread: −0.034% → 0.000%: −$3.37
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee BingX: 5 bp × 2 orders: −$10
Net: −$15.93
Costs to cover: 0.260%
Break-even: 15.3 days

Slippage unknown: Aevo: no order-book sample; BingX: live order book, 6 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 BingX live order book, 6 min ago	2.50 bp	13.1 bp −$13	37.4 bp −$374	146.2 bp −$14.6K	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 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 −0.0034%	1h	0.5979	−0.128%	$219K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.293%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5985	−0.034%	$19K	$439K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5985	−0.034%	$17.9M	$31.5M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5986	−0.017%	$13.5M	$56.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5989	+0.028%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5993	+0.095%	$4.7M	$11.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5988	+0.012%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5993	+0.095%	$35K	$351K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5993	+0.102%	$3K	$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	0.5990	+0.050%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5989	+0.030%	$27K	$548K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5993	+0.093%	$64K	$506K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5986	−0.017%	$1.7M	$3.3M	20x	as long as short
Aevo PONS-PERPlong	+0.0128%	1h	0.5987	long leg	$373	—	3x
Aster PONSUSDT	+0.0140%	4h	0.5986	−0.012%	$1.1M	$2.2M	20x	as long as short
Extended PONS-USD	+0.0184%	1h	0.5987	−0.003%	$248K	$667K	5x	as long as short
Binance PONSUSDT	+0.0186%	4h	0.5988	+0.016%	$38.9M	$97.8M	20x	as long as short
MEXC PONS_USDT	+0.0190%	4h	0.5988	+0.016%	$7.8M	$4.9M	20x	as long as short
BingX PONS-USDTshort	+0.0192%	4h	0.5985	−0.034%	—	$3.1M	—
edgeX PONSUSDC	+0.0192%	4h	0.5985	−0.037%	$21K	$293K	10x	as long as short
Nado PONS-PERP	+0.0214%	1h	0.5985	−0.040%	$91K	$103K	5x	as long as short
Lighter RH PONS	+0.0344%	1h	0.5989	+0.035%	$423K	$2.7M	3x	as long as short
BloFin PONS-USDT	+0.0426%	4h	0.5986	−0.017%	$1.7M	$981K	20x	as long as short
Pacifica PONS	+0.0451%	1h	0.5985	−0.027%	$47K	$96K	3x	as long as short
Polymarket Perps PONS-USD	+0.0490%	1h	0.5986	−0.017%	$37K	$1.7M	3x	as long as short
Hyperliquid PONS	+0.0677%	1h	0.5994	+0.110%	$60.6M	$30.1M	3x	as long as short
Lighter PONS	+0.0688%	1h	0.5989	+0.040%	$1.7M	$998K	3x	as long as short
Gate PONS_USDT	+0.1354%	4h	0.5985	−0.034%	$5.2M	$6.5M	20x	as long as short
Phoenix PONS	+0.1398%	1h	0.5991	+0.068%	$30K	$96K	3x	as long as short