Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0122%/8h= +13.3% APRpaid last 24h +0.002%

Price spread now: OKX against Aevo−0.050%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 OKX

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. OKX is 0.050% cheaper against Aevo than usual: you would sell low and buy high (spread −0.050% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 33 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo PONS-PERP	0.6009	0.0240	pay 0.0030% / 1h	25m 17s	$374	—	3x
Short	OKX PONS-USDT-SWAP	0.6006	0.0362	get 0.0181% / 4h	3h 25m	$13.7M	$55.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.050%Rate

Funding earned: $25.6
Price spread: −0.050% → 0.000%: −$4.99
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee OKX: 5 bp × 2 orders: −$10
Net: −$5.39
Costs to cover: 0.260%
Break-even: 8.5 days

Slippage unknown: Aevo: no order-book sample; OKX: live order book, 3 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 OKX live order book, 3 min ago	2.48 bp	15.8 bp −$16	37.5 bp −$375	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 +0.0033% / S −0.0032%	1h	0.6003	−0.094%	$239K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.657%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6024	+0.250%	$21K	$417K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6016	+0.125%	$70K	$129K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6027	+0.295%	$35K	$342K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6014	+0.085%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6033	+0.399%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6008	−0.022%	$26K	$534K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6019	+0.166%	$65K	$512K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6009	0.000%	$1.7M	$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	+0.0192%	1h	0.6010	+0.023%	$410K	$2.6M	3x	as long as short
Aevo PONS-PERPlong	+0.0240%	1h	0.6009	long leg	$374	—	3x
OKX PONS-USDT-SWAPshort	+0.0362%	4h	0.6006	−0.050%	$13.7M	$55.0M	20x
Variational Omni PONS	+0.0441%	4h	0.6020	+0.189%	$1.5M	$3.9M	—	as long as short
Hyperliquid PONS	+0.0484%	1h	0.6013	+0.062%	$61.5M	$28.0M	3x	as long as short
Aster PONSUSDT	+0.0530%	4h	0.6010	+0.018%	$1.1M	$2.1M	20x	as long as short
Bitget PONSUSDT	+0.0536%	4h	0.6011	+0.030%	$4.6M	$11.5M	20x	as long as short
Lighter PONS	+0.0568%	1h	0.6013	+0.065%	$1.6M	$892K	3x	as long as short
MEXC PONS_USDT	+0.0630%	4h	0.6013	+0.067%	$7.6M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0631%	4h	0.6012	+0.042%	$39.3M	$94.3M	20x	as long as short
Extended PONS-USD	+0.0632%	1h	0.6011	+0.038%	$108K	$808K	5x	as long as short
edgeX PONSUSDC	+0.0645%	4h	0.6036	+0.452%	$18K	$292K	10x	as long as short
Polymarket Perps PONS-USD	+0.0702%	1h	0.6012	+0.048%	$71K	$1.6M	3x	as long as short
KuCoin PONSUSDTM	+0.0750%	4h	0.6014	+0.077%	$1.6M	$3.8M	20x	as long as short
BloFin PONS-USDT	+0.0871%	4h	0.6012	+0.050%	$1.7M	$958K	20x	as long as short
BingX PONS-USDT	+0.0944%	4h	0.6013	+0.067%	—	$3.0M	—	as long as short
Bybit PONSUSDT	+0.0962%	4h	0.6008	−0.017%	$18.0M	$30.5M	20x	as long as short
Pacifica PONS	+0.1081%	1h	0.6031	+0.374%	$47K	$68K	3x	as long as short
Gate PONS_USDT	+0.1314%	4h	0.6009	0.000%	$5.3M	$6.2M	20x	as long as short
Phoenix PONS	+0.1586%	1h	0.6044	+0.576%	$46K	$109K	3x	as long as short