Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0282%/8h= −30.8% APRpaid last 24h +0.009%

Price spread now: Binance against Pacifica−0.099%48s7-day average +0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$590.590% of the position

Long on Pacifica Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.079%+$8 on $10k

Price spread, last 4 days (all we have)+0.123%+$12 · spread now −0.099%, 7d avg +0.009%

Together, before fees+0.202%+ Points / potential airdropPacifica: Active · farm board+$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Binance is 0.108% cheaper against Pacifica than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.009%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.079%, so the current rate has only just turned against you. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.079% in total (about 4.1% 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	Pacifica PONS	0.5945	0.0451	pay 0.0056% / 1h	32m 50s	$47K	$96K	3x
Short	Binance PONSUSDT	0.5939	0.0169	get 0.0085% / 4h	1h 32m	$38.6M	$97.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Pacifica. 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 PacificabpFee BinancebpOrdersPrice spread, now −0.099%Rate

Funding earned: −$59.13
Price spread: −0.099% → +0.009%: −$10.79
Slippage, 4 orders: −$41.01
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$128.93
Costs to cover: 0.590%
Break-even: never at this rate

Slippage from Pacifica: live order book, 50 min ago; Binance: live order book, 10 min ago.

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 Pacifica live order book, 50 min ago	6.26 bp	16.1 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 10 min ago	0.84 bp	14.3 bp −$14	54.9 bp −$549	299.3 bp −$29.9K	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 +0.0033% / S −0.0034%	1h	0.5940	−0.080%	$218K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+0.414%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5943	−0.032%	$17K	$438K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5933	−0.200%	$17.7M	$31.6M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5936	−0.150%	$13.4M	$55.8M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5937	−0.128%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5935	−0.161%	$4.7M	$11.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5955	+0.175%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5946	+0.019%	$34K	$346K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5944	−0.015%	$2K	$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	0.5949	+0.062%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5941	−0.069%	$27K	$548K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5946	+0.012%	$64K	$506K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5940	−0.082%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0120%	1h	0.5926	−0.314%	$369	—	3x	as long as short
Aster PONSUSDT	+0.0132%	4h	0.5937	−0.137%	$1.1M	$2.2M	20x	as long as short
Extended PONS-USD	+0.0168%	1h	0.5937	−0.134%	$247K	$667K	5x	as long as short
MEXC PONS_USDT	+0.0168%	4h	0.5937	−0.133%	$7.7M	$4.9M	20x	as long as short
Binance PONSUSDTshort	+0.0169%	4h	0.5939	−0.099%	$38.6M	$97.7M	20x
edgeX PONSUSDC	+0.0179%	4h	0.5947	+0.034%	$21K	$293K	10x	as long as short
BingX PONS-USDT	+0.0188%	4h	0.5935	−0.167%	—	$3.1M	—	as long as short
Nado PONS-PERP	+0.0222%	1h	0.5943	−0.032%	$90K	$103K	5x	as long as short
Lighter RH PONS	+0.0352%	1h	0.5941	−0.067%	$416K	$2.7M	3x	as long as short
BloFin PONS-USDT	+0.0409%	4h	0.5939	−0.099%	$1.7M	$974K	20x	as long as short
Pacifica PONSlong	+0.0451%	1h	0.5945	long leg	$47K	$96K	3x
Polymarket Perps PONS-USD	+0.0475%	1h	0.5944	−0.019%	$37K	$1.7M	3x	as long as short
Hyperliquid PONS	+0.0632%	1h	0.5942	−0.044%	$59.9M	$30.0M	3x	as long as short
Lighter PONS	+0.0760%	1h	0.5941	−0.057%	$1.7M	$995K	3x	as long as short
Gate PONS_USDT	+0.1286%	4h	0.5935	−0.167%	$5.2M	$6.5M	20x	as long as short
Phoenix PONS	+0.1398%	1h	0.5976	+0.518%	$30K	$96K	3x	as long as short