Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0372%/8h= −40.7% APRpaid last 24h −0.055%

Price spread now: Aevo against Bitget−0.109%7-day average — · you buy dearer than you sell

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

Long on Bitget 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 against this trade now: funding costs −$11 a day on $10k at the current rate, and Aevo is 0.109% cheaper against Bitget than usual: you would sell low and buy high (−$11 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PONSUSDT	0.5883	0.0604	pay 0.0302% / 4h	2h 17m	$4.6M	$12.2M	20x
Short	Aevo PONS-PERP	0.5877	0.0232	get 0.0029% / 1h	17m 25s	$366	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Bitget. 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 BitgetbpFee AevobpOrdersPrice spread, now −0.109%Rate

Funding earned: −$78.12
Price spread: −0.109% → 0.000%: −$10.88
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$117
Costs to cover: 0.280%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 1 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 Bitget live order book, 1 min ago	3.67 bp	15.9 bp −$16	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 −0.0032%	1h	0.5873	−0.175%	$233K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+1.472%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5874	−0.151%	$417K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5885	+0.036%	$20K	$438K	20x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5885	+0.042%	$2K	$3K	10x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5881	−0.027%	$69K	$131K	5x	as long as short
Gate PONS_USDT	+0.0100%	4h	0.5881	−0.032%	$5.2M	$6.4M	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5866	−0.292%	$29K	$329K	5x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5861	−0.379%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5858	−0.415%	$25K	$580K	3x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PONS-USDT	+0.0100%	4h	0.5871	−0.195%	$64K	$526K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5856	−0.457%	$1.6M	$3.2M	20x	as long as short
Hyperliquid PONS	+0.0198%	1h	0.5879	−0.070%	$59.7M	$29.6M	3x	as long as short
Aevo PONS-PERPshort	+0.0232%	1h	0.5877	−0.109%	$366	—	3x
OKX PONS-USDT-SWAP	+0.0393%	4h	0.5880	−0.049%	$13.4M	$55.6M	20x	as long as short
Aster PONSUSDT	+0.0467%	4h	0.5876	−0.109%	$1.1M	$2.2M	20x	as long as short
edgeX PONSUSDC	+0.0584%	4h	0.5855	−0.479%	$20K	$295K	10x	as long as short
Extended PONS-USD	+0.0592%	1h	0.5881	−0.025%	$100K	$814K	5x	as long as short
MEXC PONS_USDT	+0.0594%	4h	0.5883	+0.002%	$7.5M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0594%	4h	0.5881	−0.033%	$37.4M	$98.5M	20x	as long as short
Bitget PONSUSDTlong	+0.0604%	4h	0.5883	long leg	$4.6M	$12.2M	20x
Variational Omni PONS	+0.0620%	4h	0.5850	−0.551%	$1.3M	$4.1M	—	as long as short
Lighter PONS	+0.0632%	1h	0.5879	−0.071%	$1.6M	$937K	3x	as long as short
KuCoin PONSUSDTM	+0.0702%	4h	0.5884	+0.012%	$1.6M	$3.8M	20x	as long as short
Pacifica PONS	+0.0715%	1h	0.5882	−0.023%	$45K	$69K	3x	as long as short
Polymarket Perps PONS-USD	+0.0732%	1h	0.5881	−0.027%	$111K	$1.9M	3x	as long as short
BloFin PONS-USDT	+0.0834%	4h	0.5868	−0.253%	$1.7M	$938K	20x	as long as short
BingX PONS-USDT	+0.0888%	4h	0.5882	−0.015%	—	$3.0M	—	as long as short
Bybit PONSUSDT	+0.0949%	4h	0.5881	−0.032%	$17.6M	$31.6M	20x	as long as short
Phoenix PONS	+0.1719%	1h	0.5849	−0.581%	$44K	$121K	3x	as long as short