Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0076%/8h= +8.3% APRpaid last 24h −0.045%

Price spread now: Aevo against Variational Omni+0.057%48s7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Aevo

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 airdropVariational Omni: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Aevo is 0.057% dearer against Variational Omni than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni PONS	0.6118	0.0100	pay 0.0050% / 4h	3h 10m	$1.4M	$4.2M	—
Short	Aevo PONS-PERP	0.6121	0.0176	get 0.0022% / 1h	10m 27s	$381	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Variational Omni. 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 Variational OmnibpFee AevobpOrdersPrice spread, now +0.057%Rate

Funding earned: $15.96
Price spread: +0.057% → 0.000%: $5.74
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Aevo: 8 bp × 2 orders: −$16
Net: $5.7
Costs to cover: 0.160%
Break-even: 4.5 days

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Aevo: 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 Variational Omni RFQ quote, 4 min ago	5.71 bp	doesn't fit	38.3 bp −$383	doesn't fit	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

Aevo: 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	0.6111	−0.119%	$242K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−2.427%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6142	+0.392%	$21K	$415K	20x	as long as short
Variational Omni PONSlong	+0.0100%	4h	0.6118	long leg	$1.4M	$4.2M	—
ApeX Omni PONSUSDT	+0.0100%	1h	0.6098	−0.320%	$33K	$356K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6126	+0.133%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6132	+0.222%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6119	+0.018%	$27K	$543K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6133	+0.252%	$65K	$510K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6118	0.000%	$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	+0.0128%	1h	0.6132	+0.226%	$434K	$2.6M	3x	as long as short
Aevo PONS-PERPshort	+0.0176%	1h	0.6121	+0.057%	$381	—	3x
OKX PONS-USDT-SWAP	+0.0210%	4h	0.6140	+0.360%	$14.1M	$56.7M	20x	as long as short
KuCoin PONSUSDTM	+0.0218%	4h	0.6132	+0.227%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0276%	4h	0.6147	+0.471%	$4.8M	$11.3M	20x	as long as short
Aster PONSUSDT	+0.0325%	4h	0.6134	+0.255%	$1.1M	$2.0M	20x	as long as short
edgeX PONSUSDC	+0.0381%	4h	0.6107	−0.187%	$21K	$294K	10x	as long as short
Binance PONSUSDT	+0.0389%	4h	0.6143	+0.408%	$40.4M	$96.1M	20x	as long as short
MEXC PONS_USDT	+0.0390%	4h	0.6141	+0.376%	$8.0M	$4.9M	20x	as long as short
Extended PONS-USD	+0.0392%	1h	0.6126	+0.123%	$253K	$678K	5x	as long as short
Lighter PONS	+0.0480%	1h	0.6133	+0.247%	$1.7M	$941K	3x	as long as short
Nado PONS-PERP	+0.0591%	1h	0.6143	+0.415%	$106K	$115K	5x	as long as short
BingX PONS-USDT	+0.0592%	4h	0.6141	+0.376%	—	$3.1M	—	as long as short
Bybit PONSUSDT	+0.0628%	4h	0.6139	+0.343%	$18.5M	$30.9M	20x	as long as short
BloFin PONS-USDT	+0.0631%	4h	0.6126	+0.131%	$1.8M	$996K	20x	as long as short
Pacifica PONS	+0.0665%	1h	0.6133	+0.241%	$48K	$78K	3x	as long as short
Polymarket Perps PONS-USD	+0.0798%	1h	0.6141	+0.373%	$45K	$1.6M	3x	as long as short
Hyperliquid PONS	+0.0872%	1h	0.6142	+0.399%	$62.5M	$29.2M	3x	as long as short
Gate PONS_USDT	+0.1268%	4h	0.6126	+0.131%	$5.4M	$6.2M	20x	as long as short
Phoenix PONS	+0.1608%	1h	0.6139	+0.345%	$32K	$113K	3x	as long as short