Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0981%/8h= −107.4% APRpaid last 24h −0.110%

Price spread now: Orderly against Pacifica+0.128%7-day average — · you sell dearer than you buy

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

Long on Pacifica 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—+ Points / potential airdropPacifica: Active · farm boardneeds both histories

The price spread pays, funding is against you. Orderly is 0.128% dearer against Pacifica than usual: you sell high and buy low (spread +0.128% now, against zero (this spread has no 7-day history yet)): +$13 on $10k if it goes back. Holding the pair costs −$29 a day in funding at the current rate, which eats that in about 10 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica PONS	0.5908	0.1081	pay 0.0135% / 1h	0m 08s	$46K	$68K	3x
Short	Orderly PERP_PONS_USDC_mythos	0.5916	0.0100	get 0.0050% / 4h	3h 00m	$2K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.128%Rate

Funding earned: −$206
Price spread: +0.128% → 0.000%: $12.78
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$207.22
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Pacifica: no order-book sample; 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 Pacifica no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Pacifica and 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
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0032%	1h	0.5900	−0.151%	$234K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+1.033%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5908	−0.014%	$417K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5911	+0.043%	$21K	$417K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5910	+0.026%	$69K	$130K	5x	as long as short
Gate PONS_USDT	+0.0100%	4h	0.5909	+0.009%	$5.2M	$6.3M	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5930	+0.368%	$34K	$337K	5x	as long as short
Orderly PERP_PONS_USDC_mythosshort	+0.0100%	4h	0.5916	+0.128%	$2K	$3K	10x
SunX PONS-USDT	+0.0100%	4h	0.5908	−0.011%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5910	+0.025%	$25K	$543K	3x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PONS-USDT	+0.0100%	4h	0.5930	+0.363%	$64K	$513K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5914	+0.094%	$1.6M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0232%	1h	0.5901	−0.134%	$368	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0370%	4h	0.5908	−0.008%	$13.4M	$54.5M	20x	as long as short
Lighter PONS	+0.0456%	1h	0.5910	+0.025%	$1.6M	$897K	3x	as long as short
Hyperliquid PONS	+0.0458%	1h	0.5908	−0.013%	$59.9M	$28.9M	3x	as long as short
Variational Omni PONS	+0.0495%	4h	0.5904	−0.076%	$1.4M	$4.1M	—	as long as short
Aster PONSUSDT	+0.0503%	4h	0.5907	−0.026%	$1.1M	$2.2M	20x	as long as short
Bitget PONSUSDT	+0.0546%	4h	0.5912	+0.053%	$4.6M	$11.7M	20x	as long as short
Extended PONS-USD	+0.0608%	1h	0.5910	+0.033%	$106K	$807K	5x	as long as short
Binance PONSUSDT	+0.0610%	4h	0.5909	+0.009%	$38.6M	$94.6M	20x	as long as short
MEXC PONS_USDT	+0.0612%	4h	0.5911	+0.043%	$7.5M	$4.8M	20x	as long as short
edgeX PONSUSDC	+0.0614%	4h	0.5928	+0.331%	$18K	$294K	10x	as long as short
Polymarket Perps PONS-USD	+0.0735%	1h	0.5909	+0.013%	$81K	$1.7M	3x	as long as short
KuCoin PONSUSDTM	+0.0748%	4h	0.5908	−0.001%	$1.6M	$3.8M	20x	as long as short
BingX PONS-USDT	+0.0782%	4h	0.5911	+0.043%	—	$3.0M	—	as long as short
Bybit PONSUSDT	+0.0814%	4h	0.5908	−0.008%	$17.7M	$31.0M	20x	as long as short
BloFin PONS-USDT	+0.0854%	4h	0.5911	+0.043%	$1.7M	$941K	20x	as long as short
Pacifica PONSlong	+0.1081%	1h	0.5908	long leg	$46K	$68K	3x
Phoenix PONS	+0.1586%	1h	0.5931	+0.385%	$45K	$109K	3x	as long as short