Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0565%/8h= −61.8% APRpaid last 24h −0.022%

Price spread now: Variational Omni against Pacifica−0.686%7-day average — · you buy dearer than you sell

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

Long on Pacifica Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 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 · Variational Omni: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and Variational Omni is 0.686% cheaper against Pacifica than usual: you would sell low and buy high (−$69 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica PONS	0.6131	0.0665	pay 0.0083% / 1h	11m 42s	$48K	$78K	3x
Short	Variational Omni PONS	0.6089	0.0100	get 0.0050% / 4h	3h 11m	$1.4M	$4.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.686%Rate

Funding earned: −$118.57
Price spread: −0.686% → 0.000%: −$68.61
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$195.19
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Pacifica: no order-book sample; Variational Omni: RFQ quote, 2 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 Variational Omni RFQ quote, 2 min ago	5.71 bp	doesn't fit	31.8 bp −$318	doesn't fit	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
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0033%	1h	0.6117	−0.228%	$242K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−2.628%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6134	+0.055%	$20K	$415K	20x	as long as short
Variational Omni PONSshort	+0.0100%	4h	0.6089	−0.686%	$1.4M	$4.2M	—
ApeX Omni PONSUSDT	+0.0100%	1h	0.6098	−0.526%	$33K	$356K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6137	+0.096%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6129	−0.020%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6128	−0.036%	$27K	$543K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6135	+0.076%	$65K	$510K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6128	−0.043%	$1.7M	$3.2M	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH PONS	+0.0144%	1h	0.6132	+0.021%	$434K	$2.6M	3x	as long as short
Aevo PONS-PERP	+0.0176%	1h	0.6129	−0.018%	$382	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0199%	4h	0.6128	−0.043%	$14.1M	$56.6M	20x	as long as short
KuCoin PONSUSDTM	+0.0204%	4h	0.6129	−0.025%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0274%	4h	0.6133	+0.042%	$4.8M	$11.4M	20x	as long as short
Aster PONSUSDT	+0.0327%	4h	0.6129	−0.022%	$1.1M	$2.0M	20x	as long as short
edgeX PONSUSDC	+0.0381%	4h	0.6107	−0.393%	$21K	$294K	10x	as long as short
MEXC PONS_USDT	+0.0390%	4h	0.6133	+0.039%	$8.0M	$4.9M	20x	as long as short
Binance PONSUSDT	+0.0391%	4h	0.6131	+0.004%	$40.3M	$96.2M	20x	as long as short
Extended PONS-USD	+0.0392%	1h	0.6128	−0.043%	$253K	$678K	5x	as long as short
Lighter PONS	+0.0496%	1h	0.6132	+0.021%	$1.7M	$941K	3x	as long as short
Bybit PONSUSDT	+0.0560%	4h	0.6128	−0.043%	$18.4M	$30.8M	20x	as long as short
BingX PONS-USDT	+0.0592%	4h	0.6133	+0.039%	—	$3.1M	—	as long as short
Nado PONS-PERP	+0.0606%	1h	0.6133	+0.039%	$106K	$115K	5x	as long as short
BloFin PONS-USDT	+0.0617%	4h	0.6132	+0.023%	$1.8M	$997K	20x	as long as short
Pacifica PONSlong	+0.0665%	1h	0.6131	long leg	$48K	$78K	3x
Polymarket Perps PONS-USD	+0.0792%	1h	0.6131	+0.009%	$45K	$1.6M	3x	as long as short
Hyperliquid PONS	+0.0869%	1h	0.6134	+0.052%	$62.4M	$29.1M	3x	as long as short
Gate PONS_USDT	+0.1022%	4h	0.6122	−0.141%	$5.4M	$6.2M	20x	as long as short
Phoenix PONS	+0.1608%	1h	0.6094	−0.602%	$32K	$113K	3x	as long as short