Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0460%/8h= −50.4% APRpaid last 24h −0.129%

Price spread now: SoDEX against BingX−0.065%7-day average −0.028% · 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−$153as in the Price arb table

costs, in and out, $10k−$1501.498% of the position

Long on BingX Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.440%−$44 on $10k

Price spread, last 3 days (all we have)+0.168%+$17 · spread now −0.065%, 7d avg −0.028%

Together, before fees−0.271%−$27 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and SoDEX is 0.037% cheaper against BingX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.028%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PONS-USDT	0.6143	0.0560	pay 0.0280% / 4h	3h 13m	—	$3.1M	—
Short	SoDEX PONS-USD	0.6139	0.0100	get 0.0013% / 1h	13m 20s	$27K	$543K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against BingX. 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 BingXbpFee SoDEXbpOrdersPrice spread, now −0.065%Rate

Funding earned: −$96.6
Price spread: −0.065% → −0.028%: −$3.68
Slippage, 4 orders: −$131.77
Fee BingX: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$250.05
Costs to cover: 1.498%
Break-even: never at this rate

Slippage from BingX: live order book, 7 min ago; SoDEX: live order book, 60 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 BingX live order book, 7 min ago	0.82 bp	10.3 bp −$10	28.6 bp −$286	370.2 bp −$37.0K	doesn't fit
Sell SoDEX live order book, 60 min ago	0.82 bp	65.5 bp −$65	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 +0.0033% / S −0.0033%	1h	0.6129	−0.232%	$243K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−2.824%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6136	−0.114%	$21K	$415K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6089	−0.886%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6098	−0.726%	$33K	$356K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6146	+0.047%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6133	−0.169%	—	$1.3M	10x	as long as short
SoDEX PONS-USDshort	+0.0100%	1h	0.6139	−0.065%	$27K	$543K	3x
HTX PONS-USDT	+0.0100%	4h	0.6128	−0.244%	$65K	$510K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6126	−0.277%	$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	+0.0160%	1h	0.6129	−0.223%	$434K	$2.6M	3x	as long as short
Aevo PONS-PERP	+0.0176%	1h	0.6141	−0.024%	$383	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0199%	4h	0.6139	−0.065%	$14.0M	$56.8M	20x	as long as short
KuCoin PONSUSDTM	+0.0208%	4h	0.6133	−0.155%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0272%	4h	0.6141	−0.031%	$4.8M	$11.4M	20x	as long as short
Aster PONSUSDT	+0.0307%	4h	0.6132	−0.171%	$1.1M	$2.1M	20x	as long as short
Extended PONS-USD	+0.0376%	1h	0.6138	−0.089%	$253K	$678K	5x	as long as short
MEXC PONS_USDT	+0.0376%	4h	0.6135	−0.130%	$8.0M	$4.9M	20x	as long as short
Binance PONSUSDT	+0.0377%	4h	0.6138	−0.083%	$40.3M	$96.2M	20x	as long as short
edgeX PONSUSDC	+0.0381%	4h	0.6107	−0.594%	$21K	$294K	10x	as long as short
Lighter PONS	+0.0472%	1h	0.6130	−0.217%	$1.7M	$937K	3x	as long as short
BingX PONS-USDTlong	+0.0560%	4h	0.6143	long leg	—	$3.1M	—
Bybit PONSUSDT	+0.0599%	4h	0.6136	−0.114%	$18.4M	$30.9M	20x	as long as short
Nado PONS-PERP	+0.0604%	1h	0.6130	−0.205%	$106K	$115K	5x	as long as short
BloFin PONS-USDT	+0.0614%	4h	0.6108	−0.570%	$1.8M	$993K	20x	as long as short
Pacifica PONS	+0.0665%	1h	0.6131	−0.193%	$48K	$78K	3x	as long as short
Polymarket Perps PONS-USD	+0.0786%	1h	0.6134	−0.142%	$45K	$1.6M	3x	as long as short
Hyperliquid PONS	+0.0874%	1h	0.6133	−0.155%	$62.4M	$29.1M	3x	as long as short
Gate PONS_USDT	+0.0974%	4h	0.6121	−0.358%	$5.3M	$6.2M	20x	as long as short
Phoenix PONS	+0.1608%	1h	0.6094	−0.803%	$32K	$113K	3x	as long as short