Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC0.0000%/8hnext payment +$0.00 per $10,000 · paid last 24h −0.152%

Price spread now: Orderly against Bybit+0.077%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on Orderly

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 between these two exchanges is close to zero, so right now this pair is about the price spread alone: Orderly is 0.077% dearer against Bybit than usual: you sell high and buy low, +$8 on $10k if it 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	Bybit PONSUSDT	0.5836	0.0100	pay 0.0050% / 4h	46m 02s	$17.2M	$31.2M	20x
Short	Orderly PERP_PONS_USDC_mythos	0.5840	0.0100	get 0.0050% / 4h	46m 02s	$2K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Bybit. 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 BybitbpFee OrderlybpOrdersPrice spread, now +0.077%Rate

Funding earned: $0
Price spread: +0.077% → 0.000%: $7.71
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$9.29
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 7 min ago; Orderly: 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 Bybit live order book, 7 min ago	0.85 bp	14.4 bp −$14	34.4 bp −$344	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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
Gate PONS_USDT	−0.0098%	4h	0.5837	+0.017%	$5.2M	$7.1M	20x	as long as short
Injective PONS/USDC PERP	−0.0008%	1h	0.5863	+0.461%	$603	$6K	5.5x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0032% / S −0.0032%	1h	0.5831	−0.081%	$211K	—	150x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5835	−0.017%	$20K	$494K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5833	−0.051%	$72K	$95K	5x	as long as short
Hyperliquid PONS	+0.0100%	1h	0.5838	+0.039%	$58.1M	$29.8M	3x	as long as short
Bybit PONSUSDTlong	+0.0100%	4h	0.5836	long leg	$17.2M	$31.2M	20x
KuCoin PONSUSDTM	+0.0100%	4h	0.5837	+0.010%	$1.7M	$3.5M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5854	+0.307%	$1.2M	$4.1M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5860	+0.413%	$34K	$315K	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_PONS_USDC_mythosshort	+0.0100%	4h	0.5840	+0.077%	$2K	$3K	10x
SunX PONS-USDT	+0.0100%	4h	0.5833	−0.050%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5836	−0.009%	$27K	$528K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5850	+0.240%	$63K	$503K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5837	+0.017%	$1.7M	$3.3M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0133%	4h	0.5833	−0.051%	$13.0M	$55.1M	20x	as long as short
Bitget PONSUSDT	+0.0134%	4h	0.5838	+0.029%	$4.6M	$11.5M	20x	as long as short
Aevo PONS-PERP	+0.0144%	1h	0.5836	−0.004%	$364	—	3x	as long as short
Aster PONSUSDT	+0.0147%	4h	0.5835	−0.014%	$1.1M	$2.1M	20x	as long as short
Pacifica PONS	+0.0150%	1h	0.5831	−0.087%	$46K	$111K	3x	as long as short
Lighter RH PONS	+0.0152%	1h	0.5838	+0.036%	$400K	$2.4M	3x	as long as short
Extended PONS-USD	+0.0232%	1h	0.5838	+0.028%	$87K	$534K	5x	as long as short
MEXC PONS_USDT	+0.0232%	4h	0.5835	−0.017%	$7.1M	$5.3M	20x	as long as short
Binance PONSUSDT	+0.0233%	4h	0.5839	+0.045%	$37.8M	$99.0M	20x	as long as short
BingX PONS-USDT	+0.0244%	4h	0.5837	+0.017%	—	$3.2M	—	as long as short
edgeX PONSUSDC	+0.0244%	4h	0.5861	+0.430%	$20K	$293K	10x	as long as short
Polymarket Perps PONS-USD	+0.0322%	1h	0.5835	−0.012%	$53K	$1.8M	3x	as long as short
BloFin PONS-USDT	+0.0473%	4h	0.5838	+0.034%	$1.7M	$976K	20x	as long as short
Lighter PONS	+0.0528%	1h	0.5844	+0.134%	$1.7M	$867K	3x	as long as short
Phoenix PONS	+0.1244%	1h	0.5847	+0.183%	$27K	$80K	3x	as long as short