Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0565%/8h= −61.8% APRpaid last 24h −0.091%

Price spread now: Phemex against Pacifica−0.018%7-day average — · you buy dearer than you sell

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

Long on Pacifica Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.368%−$37 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropPacifica: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$17 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.368% in total (about -19.2% 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	0.6079	0.0665	pay 0.0083% / 1h	34m 34s	$48K	$87K	3x
Short	Phemex PONSUSDT	0.6078	0.0100	get 0.0050% / 4h	3h 34m	$1.7M	$3.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.018%Rate

Funding earned: −$118.57
Price spread: −0.018% → 0.000%: −$1.79
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$140.37
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Pacifica: no order-book sample; Phemex: live order book, 4 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 Phemex live order book, 4 min ago	2.47 bp	40.1 bp −$40	doesn't fit	doesn't fit	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
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0033%	1h	0.6068	−0.185%	$240K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.803%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6077	−0.029%	$431K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6077	−0.034%	$20K	$416K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6077	−0.033%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6090	+0.173%	$33K	$359K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6083	+0.059%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6079	−0.001%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6076	−0.059%	$28K	$552K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6091	+0.199%	$65K	$510K	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex PONSUSDTshort	+0.0100%	4h	0.6078	−0.018%	$1.7M	$3.2M	20x
OKX PONS-USDT-SWAP	+0.0139%	4h	0.6080	+0.015%	$13.8M	$56.9M	20x	as long as short
Aevo PONS-PERP	+0.0168%	1h	0.6078	−0.026%	$379	—	3x	as long as short
KuCoin PONSUSDTM	+0.0172%	4h	0.6075	−0.066%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0216%	4h	0.6084	+0.084%	$4.7M	$11.5M	20x	as long as short
Aster PONSUSDT	+0.0228%	4h	0.6075	−0.075%	$1.1M	$2.2M	20x	as long as short
Binance PONSUSDT	+0.0338%	4h	0.6077	−0.031%	$39.8M	$97.0M	20x	as long as short
MEXC PONS_USDT	+0.0342%	4h	0.6078	−0.018%	$7.9M	$4.8M	20x	as long as short
Extended PONS-USD	+0.0344%	1h	0.6075	−0.069%	$252K	$683K	5x	as long as short
edgeX PONSUSDC	+0.0350%	4h	0.6084	+0.081%	$21K	$293K	10x	as long as short
Lighter PONS	+0.0432%	1h	0.6081	+0.035%	$1.7M	$896K	3x	as long as short
BloFin PONS-USDT	+0.0583%	4h	0.6080	+0.015%	$1.7M	$1.0M	20x	as long as short
Nado PONS-PERP	+0.0594%	1h	0.6075	−0.067%	$105K	$115K	5x	as long as short
BingX PONS-USDT	+0.0628%	4h	0.6087	+0.130%	—	$3.1M	—	as long as short
Pacifica PONSlong	+0.0665%	1h	0.6079	long leg	$48K	$87K	3x
Bybit PONSUSDT	+0.0674%	4h	0.6078	−0.018%	$18.2M	$31.0M	20x	as long as short
Polymarket Perps PONS-USD	+0.0745%	1h	0.6076	−0.056%	$44K	$1.6M	3x	as long as short
Gate PONS_USDT	+0.0816%	4h	0.6075	−0.067%	$5.3M	$6.2M	20x	as long as short
Hyperliquid PONS	+0.0911%	1h	0.6077	−0.028%	$61.8M	$29.2M	3x	as long as short
Phoenix PONS	+0.1608%	1h	0.6083	+0.073%	$31K	$113K	3x	as long as short