Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.006%

Price spread now: Variational Omni against KuCoin+0.092%7-day average −0.025% · you sell dearer than you buy

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

Long on KuCoin Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.117%−$12 on $10k

Price spread, last 7 days−0.089%−$9 · spread now +0.092%, 7d avg −0.025%

Together, before fees−0.207%+ Points / potential airdropVariational Omni: Active · farm board−$21 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.117% dearer against KuCoin than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PONSUSDTM	0.5896	0.0100	pay 0.0050% / 4h	1h 59m	$1.7M	$3.7M	20x
Short	Variational Omni PONS	0.5901	0.0100	get 0.0050% / 4h	1h 59m	$1.3M	$4.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against KuCoin. 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 KuCoinbpFee Variational OmnibpOrdersPrice spread, now +0.092%Rate

Funding earned: $0
Price spread: +0.092% → −0.025%: $11.7
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$0.3
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 8 min ago; Variational Omni: RFQ quote, 5 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 KuCoin live order book, 8 min ago	5.72 bp	32.7 bp −$33	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 5 min ago	4.26 bp	doesn't fit	41.7 bp −$417	doesn't fit	doesn't fit

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 +0.0032% / S −0.0034%	1h	0.5895	−0.009%	$216K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5920	+0.404%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5897	+0.020%	$21K	$442K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5894	−0.031%	$89K	$103K	5x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5896	+0.003%	$17.6M	$31.8M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5896	+0.003%	$13.4M	$56.1M	20x	as long as short
KuCoin PONSUSDTMlong	+0.0100%	4h	0.5896	long leg	$1.7M	$3.7M	20x
Bitget PONSUSDT	+0.0100%	4h	0.5904	+0.139%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONSshort	+0.0100%	4h	0.5901	+0.092%	$1.3M	$4.3M	—
ApeX Omni PONSUSDT	+0.0100%	1h	0.5908	+0.209%	$34K	$340K	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_mythos	+0.0100%	4h	0.5907	+0.197%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5906	+0.166%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5899	+0.063%	$27K	$547K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5902	+0.100%	$63K	$506K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5899	+0.054%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5899	+0.063%	$368	—	3x	as long as short
Aster PONSUSDT	+0.0147%	4h	0.5897	+0.020%	$1.1M	$2.2M	20x	as long as short
BingX PONS-USDT	+0.0168%	4h	0.5900	+0.071%	—	$3.1M	—	as long as short
MEXC PONS_USDT	+0.0172%	4h	0.5900	+0.071%	$7.5M	$4.9M	20x	as long as short
Binance PONSUSDT	+0.0173%	4h	0.5899	+0.054%	$38.3M	$98.1M	20x	as long as short
edgeX PONSUSDC	+0.0175%	4h	0.5905	+0.158%	$21K	$294K	10x	as long as short
Extended PONS-USD	+0.0176%	1h	0.5900	+0.079%	$106K	$532K	5x	as long as short
BloFin PONS-USDT	+0.0413%	4h	0.5901	+0.088%	$1.7M	$966K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5893	−0.047%	$47K	$103K	3x	as long as short
Lighter RH PONS	+0.0552%	1h	0.5902	+0.100%	$417K	$2.6M	3x	as long as short
Hyperliquid PONS	+0.0778%	1h	0.5908	+0.199%	$59.3M	$30.1M	3x	as long as short
Gate PONS_USDT	+0.0802%	4h	0.5896	+0.003%	$5.1M	$6.4M	20x	as long as short
Polymarket Perps PONS-USD	+0.0898%	1h	0.5902	+0.107%	$37K	$1.8M	3x	as long as short
Lighter PONS	+0.0968%	1h	0.5904	+0.141%	$1.7M	$878K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5888	−0.132%	$30K	$86K	3x	as long as short