Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0598%/8h= −65.4% APRpaid last 24h +0.012%

Price spread now: Binance against Pacifica−0.035%7-day average +0.009% · you buy dearer than you sell

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

Long on Pacifica Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.074%+$7 on $10k

Price spread, last 4 days (all we have)+0.058%+$6 · spread now −0.035%, 7d avg +0.009%

Together, before fees+0.133%+ Points / potential airdropPacifica: Active · farm board+$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and Binance is 0.043% cheaper against Pacifica than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.009%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.074%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.074% in total (about 3.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica PONS	0.6157	0.0899	pay 0.0112% / 1h	49m 35s	$49K	$96K	3x
Short	Binance PONSUSDT	0.6155	0.0301	get 0.0151% / 4h	49m 35s	$40.1M	$99.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Pacifica. 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 PacificabpFee BinancebpOrdersPrice spread, now −0.035%Rate

Funding earned: −$125.48
Price spread: −0.035% → +0.009%: −$4.35
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$147.83
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Pacifica: 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 Pacifica no order-book sample	—	—	—	—	—
Sell Binance live order book, 8 min ago	0.82 bp	13.3 bp −$13	43.8 bp −$438	281.1 bp −$28.1K	doesn't fit

Pacifica: 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
Injective PONS/USDC PERP	−0.0047%	1h	0.5969	−3.048%	$614	$10K	5.5x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0036%	1h	0.6150	−0.120%	$231K	—	150x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6153	−0.067%	$20K	$460K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6157	0.000%	$87K	$107K	5x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.6151	−0.100%	$18.6M	$31.9M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6149	−0.132%	$14.0M	$58.7M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.6159	+0.024%	$1.8M	$3.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6139	−0.299%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6163	+0.092%	$33K	$360K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6163	+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	0.6161	+0.064%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6154	−0.046%	$28K	$547K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6164	+0.116%	$65K	$509K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6147	−0.165%	$1.7M	$3.3M	20x	as long as short
Bitget PONSUSDT	+0.0120%	4h	0.6149	−0.127%	$4.8M	$11.7M	20x	as long as short
Aevo PONS-PERP	+0.0152%	1h	0.6158	+0.014%	$384	—	3x	as long as short
Aster PONSUSDT	+0.0212%	4h	0.6151	−0.105%	$1.1M	$2.2M	20x	as long as short
BingX PONS-USDT	+0.0272%	4h	0.6152	−0.083%	—	$3.1M	—	as long as short
Extended PONS-USD	+0.0288%	1h	0.6156	−0.021%	$254K	$682K	5x	as long as short
MEXC PONS_USDT	+0.0290%	4h	0.6160	+0.046%	$8.2M	$4.8M	20x	as long as short
Binance PONSUSDTshort	+0.0301%	4h	0.6155	−0.035%	$40.1M	$99.2M	20x
edgeX PONSUSDC	+0.0302%	4h	0.6149	−0.130%	$21K	$293K	10x	as long as short
Lighter PONS	+0.0504%	1h	0.6160	+0.055%	$1.7M	$921K	3x	as long as short
BloFin PONS-USDT	+0.0535%	4h	0.6149	−0.132%	$1.7M	$1.0M	20x	as long as short
Lighter RH PONS	+0.0592%	1h	0.6160	+0.050%	$434K	$2.6M	3x	as long as short
Polymarket Perps PONS-USD	+0.0771%	1h	0.6159	+0.024%	$42K	$1.7M	3x	as long as short
Pacifica PONSlong	+0.0899%	1h	0.6157	long leg	$49K	$96K	3x
Hyperliquid PONS	+0.1087%	1h	0.6162	+0.074%	$62.7M	$30.7M	3x	as long as short
Phoenix PONS	+0.1307%	1h	0.6117	−0.652%	$31K	$102K	3x	as long as short
Gate PONS_USDT	+0.2020%	4h	0.6151	−0.100%	$5.4M	$6.2M	20x	as long as short