Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0116%/8h= −12.7% APRpaid last 24h −0.023%

Price spread now: Orderly against Aevo+0.064%7-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 Orderly

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

The price spread pays, funding is against you. Orderly is 0.064% dearer against Aevo than usual: you sell high and buy low (spread +0.064% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 44 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo PONS-PERP	0.6018	0.0216	pay 0.0027% / 1h	10m 07s	$375	—	3x
Short	Orderly PERP_PONS_USDC_mythos	0.6022	0.0100	get 0.0050% / 4h	1h 10m	$2K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.064%Rate

Funding earned: −$24.36
Price spread: +0.064% → 0.000%: $6.45
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$39.91
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Orderly: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—

Aevo and Orderly: 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	0.6001	−0.277%	$238K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.808%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6017	−0.019%	$21K	$435K	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6015	−0.054%	$33K	$351K	5x	as long as short
Orderly PERP_PONS_USDC_mythosshort	+0.0100%	4h	0.6022	+0.064%	$2K	$3K	10x
SunX PONS-USDT	+0.0100%	4h	0.6019	+0.015%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6016	−0.044%	$26K	$528K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6018	−0.004%	$64K	$509K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6004	−0.235%	$1.6M	$3.2M	20x	as long as short
Variational Omni PONS	+0.0178%	4h	0.6018	+0.003%	$1.4M	$3.9M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PONS-PERPlong	+0.0216%	1h	0.6018	long leg	$375	—	3x
Nado PONS-PERP	+0.0229%	1h	0.6018	−0.002%	$70K	$129K	5x	as long as short
Gate PONS_USDT	+0.0244%	4h	0.6010	−0.135%	$5.3M	$6.3M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0316%	4h	0.6007	−0.185%	$13.6M	$55.0M	20x	as long as short
Lighter RH PONS	+0.0336%	1h	0.6014	−0.068%	$418K	$2.5M	3x	as long as short
Lighter PONS	+0.0352%	1h	0.6014	−0.077%	$1.7M	$877K	3x	as long as short
Bitget PONSUSDT	+0.0424%	4h	0.6011	−0.115%	$4.7M	$11.4M	20x	as long as short
Aster PONSUSDT	+0.0450%	4h	0.6014	−0.076%	$1.1M	$2.1M	20x	as long as short
KuCoin PONSUSDTM	+0.0468%	4h	0.6009	−0.145%	$1.7M	$3.7M	20x	as long as short
Bybit PONSUSDT	+0.0492%	4h	0.6007	−0.185%	$17.9M	$30.7M	20x	as long as short
BingX PONS-USDT	+0.0496%	4h	0.6010	−0.135%	—	$3.0M	—	as long as short
MEXC PONS_USDT	+0.0526%	4h	0.6012	−0.102%	$7.6M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0527%	4h	0.6007	−0.190%	$39.6M	$94.7M	20x	as long as short
edgeX PONSUSDC	+0.0528%	4h	0.6022	+0.062%	$18K	$292K	10x	as long as short
Extended PONS-USD	+0.0528%	1h	0.6007	−0.182%	$249K	$671K	5x	as long as short
Pacifica PONS	+0.0755%	1h	0.6017	−0.019%	$47K	$70K	3x	as long as short
Hyperliquid PONS	+0.0756%	1h	0.6012	−0.108%	$61.2M	$27.9M	3x	as long as short
BloFin PONS-USDT	+0.0767%	4h	0.6029	+0.181%	$1.7M	$968K	20x	as long as short
Polymarket Perps PONS-USD	+0.0851%	1h	0.6015	−0.045%	$69K	$1.6M	3x	as long as short
Phoenix PONS	+0.1639%	1h	0.6017	−0.012%	$31K	$98K	3x	as long as short