Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0398%/8h= +43.6% APRpaid last 24h +0.054%

Price spread now: KuCoin against Aevo−0.302%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 KuCoin

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. KuCoin is 0.302% cheaper against Aevo than usual: you would sell low and buy high (spread −0.302% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$30 on $10k: about 2.5 days of funding at the current rate (+$12 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo PONS-PERP	0.5964	0.0208	pay 0.0026% / 1h	22m 44s	$372	—	3x
Short	KuCoin PONSUSDTM	0.5946	0.0606	get 0.0303% / 4h	1h 22m	$1.6M	$3.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.302%Rate

Funding earned: $83.58
Price spread: −0.302% → 0.000%: −$30.18
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $25.4
Costs to cover: 0.280%
Break-even: 4.9 days

Slippage unknown: Aevo: no order-book sample; KuCoin: live order book, 5 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 KuCoin live order book, 5 min ago	3.21 bp	28.9 bp −$29	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 +0.0032% / S −0.0030%	1h	0.5942	−0.353%	$243K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+0.101%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5948	−0.260%	$22K	$420K	20x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5959	−0.077%	$2K	$3K	10x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5954	−0.159%	$70K	$130K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5925	−0.647%	$29K	$314K	5x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5952	−0.195%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5952	−0.184%	$26K	$583K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5963	−0.005%	$65K	$525K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5945	−0.310%	$1.6M	$3.2M	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH PONS	+0.0112%	1h	0.5947	−0.283%	$419K	$2.6M	3x	as long as short
Hyperliquid PONS	+0.0190%	1h	0.5948	−0.253%	$60.4M	$29.5M	3x	as long as short
Aevo PONS-PERPlong	+0.0208%	1h	0.5964	long leg	$372	—	3x
OKX PONS-USDT-SWAP	+0.0404%	4h	0.5941	−0.377%	$13.4M	$55.8M	20x	as long as short
Aster PONSUSDT	+0.0466%	4h	0.5945	−0.304%	$1.1M	$2.2M	20x	as long as short
Polymarket Perps PONS-USD	+0.0513%	1h	0.5950	−0.221%	$93K	$1.9M	3x	as long as short
Binance PONSUSDT	+0.0516%	4h	0.5949	−0.235%	$37.5M	$98.4M	20x	as long as short
MEXC PONS_USDT	+0.0518%	4h	0.5946	−0.293%	$7.6M	$4.7M	20x	as long as short
Extended PONS-USD	+0.0520%	1h	0.5942	−0.368%	$102K	$808K	5x	as long as short
edgeX PONSUSDC	+0.0526%	4h	0.5925	−0.653%	$20K	$291K	10x	as long as short
Pacifica PONS	+0.0556%	1h	0.5948	−0.262%	$45K	$68K	3x	as long as short
Variational Omni PONS	+0.0590%	4h	0.5938	−0.420%	$1.4M	$4.1M	—	as long as short
KuCoin PONSUSDTMshort	+0.0606%	4h	0.5946	−0.302%	$1.6M	$3.8M	20x
Bitget PONSUSDT	+0.0678%	4h	0.5945	−0.314%	$4.7M	$12.2M	20x	as long as short
BingX PONS-USDT	+0.0686%	4h	0.5942	−0.361%	—	$3.0M	—	as long as short
Bybit PONSUSDT	+0.0715%	4h	0.5941	−0.377%	$17.6M	$31.3M	20x	as long as short
Gate PONS_USDT	+0.0754%	4h	0.5944	−0.327%	$5.3M	$6.3M	20x	as long as short
BloFin PONS-USDT	+0.0758%	4h	0.5952	−0.193%	$1.7M	$948K	20x	as long as short
Lighter PONS	+0.0888%	1h	0.5951	−0.206%	$1.7M	$832K	3x	as long as short
Phoenix PONS	+0.1472%	1h	0.5964	+0.007%	$45K	$127K	3x	as long as short