Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0182%/8h= +19.9% APRpaid last 24h +0.065%

Price spread now: edgeX against Aevo−0.518%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 edgeX

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—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

Funding pays, the price is against you. edgeX is 0.518% cheaper against Aevo than usual: you would sell low and buy high (spread −0.518% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$52 on $10k: about 9.5 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	Aevo PONS-PERP	0.6107	0.0168	pay 0.0021% / 1h	30m 42s	$380	—	3x
Short	edgeX PONSUSDC	0.6075	0.0350	get 0.0175% / 4h	3h 30m	$21K	$294K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.518%Rate

Funding earned: $38.16
Price spread: −0.518% → 0.000%: −$51.77
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$38.61
Costs to cover: 0.250%
Break-even: 14.1 days

Slippage unknown: Aevo: no order-book sample; edgeX: live order book, 42 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 edgeX live order book, 42 min ago	11.48 bp	20.0 bp −$20	doesn't fit	doesn't fit	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 −0.0033%	1h	0.6099	−0.134%	$242K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−2.252%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6103	−0.067%	$432K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6111	+0.065%	$20K	$415K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6105	−0.040%	$1.4M	$4.1M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6102	−0.082%	$33K	$359K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6115	+0.133%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6108	+0.008%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6108	+0.008%	$28K	$547K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6120	+0.210%	$65K	$511K	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	0.6098	−0.147%	$1.7M	$3.2M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0160%	4h	0.6101	−0.098%	$13.9M	$57.0M	20x	as long as short
Aevo PONS-PERPlong	+0.0168%	1h	0.6107	long leg	$380	—	3x
KuCoin PONSUSDTM	+0.0182%	4h	0.6101	−0.100%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0232%	4h	0.6104	−0.049%	$4.8M	$11.4M	20x	as long as short
Aster PONSUSDT	+0.0258%	4h	0.6106	−0.011%	$1.1M	$2.1M	20x	as long as short
MEXC PONS_USDT	+0.0348%	4h	0.6102	−0.082%	$8.0M	$4.8M	20x	as long as short
edgeX PONSUSDCshort	+0.0350%	4h	0.6075	−0.518%	$21K	$294K	10x
Binance PONSUSDT	+0.0350%	4h	0.6101	−0.091%	$40.0M	$96.7M	20x	as long as short
Extended PONS-USD	+0.0352%	1h	0.6104	−0.054%	$252K	$679K	5x	as long as short
Lighter PONS	+0.0456%	1h	0.6102	−0.080%	$1.7M	$910K	3x	as long as short
BloFin PONS-USDT	+0.0590%	4h	0.6105	−0.033%	$1.8M	$1.0M	20x	as long as short
Nado PONS-PERP	+0.0606%	1h	0.6107	+0.007%	$105K	$115K	5x	as long as short
Bybit PONSUSDT	+0.0647%	4h	0.6100	−0.115%	$18.3M	$30.9M	20x	as long as short
Pacifica PONS	+0.0665%	1h	0.6101	−0.091%	$48K	$87K	3x	as long as short
BingX PONS-USDT	+0.0682%	4h	0.6104	−0.049%	—	$3.1M	—	as long as short
Polymarket Perps PONS-USD	+0.0756%	1h	0.6110	+0.043%	$44K	$1.6M	3x	as long as short
Hyperliquid PONS	+0.0899%	1h	0.6102	−0.080%	$62.0M	$29.2M	3x	as long as short
Gate PONS_USDT	+0.0916%	4h	0.6102	−0.082%	$5.3M	$6.2M	20x	as long as short
Phoenix PONS	+0.1608%	1h	0.6077	−0.485%	$31K	$113K	3x	as long as short