Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0021%/8h= −2.3% APRpaid last 24h −0.016%

Price spread now: Nado against Binance−0.118%7-day average −0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$132as in the Price arb table

costs, in and out, $10k−$1211.210% of the position

Long on Binance Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.139%−$14 on $10k

Price spread, last 3 days (all we have)+0.272%+$27 · spread now −0.118%, 7d avg −0.004%

Together, before fees+0.133%+ Points / potential airdropNado: Active · farm board+$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Nado is 0.115% cheaper against Binance than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.004%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PONSUSDT	0.5902	0.0169	pay 0.0085% / 4h	2h 34m	$38.3M	$98.3M	20x
Short	Nado PONS-PERP	0.5895	0.0148	get 0.0018% / 1h	34m 49s	$89K	$103K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Binance. 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 BinancebpFee NadobpOrdersPrice spread, now −0.118%Rate

Funding earned: −$4.43
Price spread: −0.118% → −0.004%: −$11.48
Slippage, 4 orders: −$111
Fee Binance: 5 bp × 2 orders: −$10
Fee Nado: 0 bp × 2 orders: $0
Net: −$136.91
Costs to cover: 1.210%
Break-even: never at this rate

Slippage from Binance: live order book, 8 min ago; Nado: live order book, 44 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 Binance live order book, 8 min ago	0.86 bp	9.6 bp −$10	23.6 bp −$236	doesn't fit	doesn't fit
Sell Nado live order book, 44 min ago	19.48 bp	49.5 bp −$50	doesn't fit	doesn't fit	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 +0.0032% / S −0.0034%	1h	0.5891	−0.193%	$216K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+0.298%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5896	−0.102%	$21K	$447K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5896	−0.102%	$17.7M	$31.8M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5900	−0.034%	$13.4M	$56.1M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5896	−0.097%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5904	+0.037%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5865	−0.622%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5866	−0.608%	$34K	$330K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5897	−0.086%	$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	0.5898	−0.063%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5896	−0.107%	$27K	$549K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5900	−0.027%	$64K	$504K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5894	−0.136%	$1.7M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0120%	1h	0.5893	−0.149%	$367	—	3x	as long as short
Nado PONS-PERPshort	+0.0148%	1h	0.5895	−0.118%	$89K	$103K	5x
Gate PONS_USDT	+0.0148%	4h	0.5890	−0.203%	$5.1M	$6.8M	20x	as long as short
BingX PONS-USDT	+0.0154%	4h	0.5900	−0.034%	—	$3.1M	—	as long as short
MEXC PONS_USDT	+0.0160%	4h	0.5900	−0.034%	$7.5M	$5.2M	20x	as long as short
edgeX PONSUSDC	+0.0163%	4h	0.5834	−1.161%	$20K	$292K	10x	as long as short
Extended PONS-USD	+0.0168%	1h	0.5900	−0.028%	$105K	$533K	5x	as long as short
Binance PONSUSDTlong	+0.0169%	4h	0.5902	long leg	$38.3M	$98.3M	20x
Aster PONSUSDT	+0.0197%	4h	0.5895	−0.127%	$1.1M	$2.2M	20x	as long as short
Polymarket Perps PONS-USD	+0.0338%	1h	0.5897	−0.086%	$38K	$1.8M	3x	as long as short
BloFin PONS-USDT	+0.0409%	4h	0.5900	−0.034%	$1.7M	$968K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5887	−0.248%	$47K	$103K	3x	as long as short
Hyperliquid PONS	+0.0558%	1h	0.5903	+0.010%	$59.0M	$30.0M	3x	as long as short
Lighter RH PONS	+0.0576%	1h	0.5895	−0.119%	$394K	$2.6M	3x	as long as short
Lighter PONS	+0.1056%	1h	0.5895	−0.112%	$1.7M	$881K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5836	−1.111%	$27K	$86K	3x	as long as short