Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0601%/8h= −65.8% APRpaid last 24h +0.073%

Price spread now: BingX against Pacifica+0.070%47s7-day average +0.030% · you sell dearer than you buy

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

Long on Pacifica Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.271%+$27 on $10k

Price spread, last 3 days (all we have)−0.087%−$9 · spread now +0.070%, 7d avg +0.030%

Together, before fees+0.184%+ Points / potential airdropPacifica: Active · farm board+$18 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.041% dearer against Pacifica than usual: you sell high and buy low (spread +0.070% now, against its 7-day average of +0.030%): +$4 on $10k if it goes back. Holding the pair costs −$18 a day in funding at the current rate, which eats that in about 5 hours. Mind the row above: over the last 7 days funding on this pair paid +0.271%, so the current rate has only just turned against you. The two prices were read 47 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 0.271% in total (about 14.1% 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	0.6074	0.0899	pay 0.0112% / 1h	0m 58s	$48K	$96K	3x
Short	BingX PONS-USDT	0.6078	0.0298	get 0.0149% / 4h	0m 58s	—	$3.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Pacifica. 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 PacificabpFee BingXbpOrdersPrice spread, now +0.070%Rate

Funding earned: −$126.12
Price spread: +0.070% → +0.030%: $4.09
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee BingX: 5 bp × 2 orders: −$10
Net: −$140.02
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Pacifica: no order-book sample; BingX: live order book, 8 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 Pacifica no order-book sample	—	—	—	—	—
Sell BingX live order book, 8 min ago	1.64 bp	11.2 bp −$11	30.9 bp −$309	115.2 bp −$11.5K	doesn't fit

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	−1.716%	$614	$10K	5.5x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0033%	1h	0.6069	−0.078%	$240K	—	150x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6076	+0.039%	$425K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6077	+0.054%	$20K	$418K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.6076	+0.038%	$18.2M	$31.3M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6075	+0.021%	$13.8M	$57.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6074	+0.008%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6100	+0.436%	$33K	$357K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6084	+0.176%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6082	+0.135%	—	$1.4M	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX PONS-USD	+0.0100%	1h	0.6077	+0.059%	$28K	$550K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6086	+0.207%	$65K	$510K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6084	+0.169%	$1.7M	$3.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0138%	4h	0.6076	+0.034%	$1.7M	$3.8M	20x	as long as short
Aevo PONS-PERP	+0.0152%	1h	0.6081	+0.120%	$379	—	3x	as long as short
Aster PONSUSDT	+0.0154%	4h	0.6074	+0.011%	$1.1M	$2.2M	20x	as long as short
Bitget PONSUSDT	+0.0176%	4h	0.6079	+0.092%	$4.7M	$11.7M	20x	as long as short
Nado PONS-PERP	+0.0221%	1h	0.6075	+0.017%	$105K	$116K	5x	as long as short
MEXC PONS_USDT	+0.0298%	4h	0.6077	+0.054%	$7.9M	$4.9M	20x	as long as short
BingX PONS-USDTshort	+0.0298%	4h	0.6078	+0.070%	—	$3.1M	—
Binance PONSUSDT	+0.0302%	4h	0.6075	+0.021%	$39.8M	$98.1M	20x	as long as short
Extended PONS-USD	+0.0304%	1h	0.6074	+0.005%	$252K	$681K	5x	as long as short
edgeX PONSUSDC	+0.0312%	4h	0.6092	+0.302%	$21K	$294K	10x	as long as short
Lighter PONS	+0.0352%	1h	0.6078	+0.069%	$1.7M	$935K	3x	as long as short
BloFin PONS-USDT	+0.0542%	4h	0.6077	+0.054%	$1.8M	$1.0M	20x	as long as short
Polymarket Perps PONS-USD	+0.0656%	1h	0.6077	+0.054%	$41K	$1.7M	3x	as long as short
Hyperliquid PONS	+0.0832%	1h	0.6078	+0.070%	$61.9M	$29.9M	3x	as long as short
Pacifica PONSlong	+0.0899%	1h	0.6074	long leg	$48K	$96K	3x
Phoenix PONS	+0.1307%	1h	0.6085	+0.186%	$31K	$102K	3x	as long as short
Gate PONS_USDT	+0.2102%	4h	0.6079	+0.087%	$5.3M	$6.4M	20x	as long as short