Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0597%/8h= +65.4% APRpaid last 24h −0.017%

Price spread now: Pacifica against edgeX+0.130%7-day average −0.012% · you sell dearer than you buy

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

Long on edgeX Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.101%−$10 on $10k

Price spread, last 3 days (all we have)−0.233%−$23 · spread now +0.130%, 7d avg −0.012%

Together, before fees−0.334%+ Points / potential airdropedgeX: Active · Pacifica: Active · farm board−$33 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and Pacifica is 0.142% dearer against edgeX than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of −0.012%. Mind the row above: over the last 7 days funding on this pair cost −0.101%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.101% in total (about -5.2% 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	edgeX PONSUSDC	0.6149	0.0302	pay 0.0151% / 4h	48m 49s	$21K	$293K	10x
Short	Pacifica PONS	0.6157	0.0899	get 0.0112% / 1h	48m 49s	$49K	$96K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against edgeX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 edgeXbpFee PacificabpOrdersPrice spread, now +0.130%Rate

Funding earned: $125.34
Price spread: +0.130% → −0.012%: $14.24
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Pacifica: 4 bp × 2 orders: −$8
Net: $122.58
Costs to cover: 0.170%
Break-even: 0.2 days

Slippage unknown: edgeX: live order book, 29 min ago; Pacifica: 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 edgeX live order book, 29 min ago	11.68 bp	20.3 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell Pacifica no order-book sample	—	—	—	—	—

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
Injective PONS/USDC PERP	−0.0047%	1h	0.5969	−2.921%	$614	$10K	5.5x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0036%	1h	0.6146	−0.052%	$231K	—	150x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6153	+0.063%	$20K	$460K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6154	+0.079%	$87K	$107K	5x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.6139	−0.165%	$18.5M	$31.9M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6157	+0.128%	$14.0M	$58.8M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.6141	−0.132%	$1.8M	$3.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6139	−0.169%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6159	+0.155%	$33K	$360K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6159	+0.159%	$3K	$3K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX PONS-USDT	+0.0100%	4h	0.6153	+0.068%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6149	−0.007%	$28K	$547K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6163	+0.229%	$65K	$509K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6145	−0.067%	$1.7M	$3.3M	20x	as long as short
Bitget PONSUSDT	+0.0120%	4h	0.6143	−0.095%	$4.8M	$11.7M	20x	as long as short
Aevo PONS-PERP	+0.0152%	1h	0.6153	+0.071%	$383	—	3x	as long as short
Aster PONSUSDT	+0.0212%	4h	0.6151	+0.024%	$1.1M	$2.2M	20x	as long as short
BingX PONS-USDT	+0.0272%	4h	0.6138	−0.181%	—	$3.1M	—	as long as short
MEXC PONS_USDT	+0.0290%	4h	0.6142	−0.116%	$8.1M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0301%	4h	0.6144	−0.084%	$40.1M	$99.2M	20x	as long as short
edgeX PONSUSDClong	+0.0302%	4h	0.6149	long leg	$21K	$293K	10x
Extended PONS-USD	+0.0304%	1h	0.6143	−0.102%	$254K	$682K	5x	as long as short
Lighter PONS	+0.0504%	1h	0.6154	+0.077%	$1.7M	$921K	3x	as long as short
BloFin PONS-USDT	+0.0541%	4h	0.6158	+0.144%	$1.7M	$1.0M	20x	as long as short
Lighter RH PONS	+0.0592%	1h	0.6154	+0.077%	$433K	$2.6M	3x	as long as short
Polymarket Perps PONS-USD	+0.0752%	1h	0.6152	+0.050%	$42K	$1.7M	3x	as long as short
Pacifica PONSshort	+0.0899%	1h	0.6157	+0.130%	$49K	$96K	3x
Hyperliquid PONS	+0.1060%	1h	0.6150	+0.012%	$62.6M	$30.7M	3x	as long as short
Phoenix PONS	+0.1307%	1h	0.6150	+0.022%	$31K	$102K	3x	as long as short
Gate PONS_USDT	+0.2020%	4h	0.6142	−0.116%	$5.4M	$6.2M	20x	as long as short