Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0084%/8h= +9.2% APRpaid last 24h +0.023%

Price spread now: Aevo against Phemex+0.066%7-day average — · you sell dearer than you buy

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

Long on Phemex Short on Aevo

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

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Aevo is 0.066% dearer against Phemex than usual: you sell high and buy low: +$7 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex PONSUSDT	0.6043	0.0100	pay 0.0050% / 4h	2h 41m	$1.7M	$3.2M	20x
Short	Aevo PONS-PERP	0.6047	0.0184	get 0.0023% / 1h	41m 38s	$377	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Phemex. 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 PhemexbpFee AevobpOrdersPrice spread, now +0.066%Rate

Funding earned: $17.64
Price spread: +0.066% → 0.000%: $6.62
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$3.74
Costs to cover: 0.280%
Break-even: 8.5 days

Slippage unknown: Phemex: live order book, 2 min ago; Aevo: 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 Phemex live order book, 2 min ago	6.60 bp	40.1 bp −$40	doesn't fit	doesn't fit	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

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	0.6037	−0.107%	$239K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.216%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6050	+0.116%	$20K	$423K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6019	−0.396%	$1.4M	$4.1M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6030	−0.222%	$33K	$353K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6055	+0.199%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6051	+0.137%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6044	+0.015%	$26K	$529K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6057	+0.230%	$65K	$510K	20x	as long as short
Phemex PONSUSDTlong	+0.0100%	4h	0.6043	long leg	$1.7M	$3.2M	20x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PONS-PERPshort	+0.0184%	1h	0.6047	+0.066%	$377	—	3x
OKX PONS-USDT-SWAP	+0.0206%	4h	0.6043	0.000%	$13.9M	$55.8M	20x	as long as short
KuCoin PONSUSDTM	+0.0220%	4h	0.6042	−0.008%	$1.7M	$3.7M	20x	as long as short
Lighter RH PONS	+0.0240%	1h	0.6045	+0.036%	$422K	$2.5M	3x	as long as short
Bybit PONSUSDT	+0.0254%	4h	0.6036	−0.116%	$18.2M	$30.8M	20x	as long as short
Bitget PONSUSDT	+0.0294%	4h	0.6047	+0.065%	$4.7M	$11.4M	20x	as long as short
Nado PONS-PERP	+0.0315%	1h	0.6046	+0.045%	$71K	$132K	5x	as long as short
Aster PONSUSDT	+0.0354%	4h	0.6037	−0.100%	$1.1M	$2.0M	20x	as long as short
Lighter PONS	+0.0368%	1h	0.6046	+0.043%	$1.7M	$883K	3x	as long as short
BingX PONS-USDT	+0.0390%	4h	0.6049	+0.099%	—	$3.0M	—	as long as short
Extended PONS-USD	+0.0400%	1h	0.6048	+0.087%	$250K	$682K	5x	as long as short
MEXC PONS_USDT	+0.0402%	4h	0.6046	+0.050%	$7.8M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0405%	4h	0.6046	+0.050%	$39.6M	$95.9M	20x	as long as short
edgeX PONSUSDC	+0.0411%	4h	0.6023	−0.330%	$21K	$293K	10x	as long as short
BloFin PONS-USDT	+0.0646%	4h	0.6065	+0.364%	$1.8M	$984K	20x	as long as short
Gate PONS_USDT	+0.0684%	4h	0.6037	−0.099%	$5.3M	$6.1M	20x	as long as short
Hyperliquid PONS	+0.0723%	1h	0.6049	+0.099%	$61.6M	$28.8M	3x	as long as short
Polymarket Perps PONS-USD	+0.0781%	1h	0.6050	+0.113%	$46K	$1.6M	3x	as long as short
Pacifica PONS	+0.0869%	1h	0.6042	−0.015%	$48K	$75K	3x	as long as short
Phoenix PONS	+0.1695%	1h	0.6022	−0.354%	$31K	$107K	3x	as long as short