Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.048%

Price spread now: Nado against Bitget+0.057%7-day average −0.032% · you sell dearer than you buy

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−$1401.405% of the position

Long on Bitget Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.231%−$23 on $10k

Price spread, last 3 days (all we have)−0.008%−$1 · spread now +0.057%, 7d avg −0.032%

Together, before fees−0.239%+ Points / potential airdropNado: Active · farm board−$24 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Nado is 0.089% dearer against Bitget than usual: you sell high and buy low (spread +0.057% now, against its 7-day average of −0.032%): +$9 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 7.4 days. At the pace of the last 3 days (−0.231% in total) that is about 29 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PONSUSDT	0.6125	0.0140	pay 0.0070% / 4h	31m 56s	$4.8M	$11.7M	20x
Short	Nado PONS-PERP	0.6129	0.0100	get 0.0012% / 1h	31m 56s	$88K	$107K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Bitget. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BitgetbpFee NadobpOrdersPrice spread, now +0.057%Rate

Funding earned: −$8.4
Price spread: +0.057% → −0.032%: $8.87
Slippage, 4 orders: −$128.47
Fee Bitget: 6 bp × 2 orders: −$12
Fee Nado: 0 bp × 2 orders: $0
Net: −$140
Costs to cover: 1.405%
Break-even: never at this rate

Slippage from Bitget: live order book, 2 min ago; Nado: live order book, 37 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 Bitget live order book, 2 min ago	1.96 bp	18.9 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 37 min ago	17.17 bp	50.3 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
Injective PONS/USDC PERP	−0.0047%	1h	0.5969	−2.540%	$614	$10K	5.5x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0034%	1h	0.6115	−0.163%	$236K	—	150x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6123	−0.026%	$426K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6129	+0.064%	$20K	$439K	20x	as long as short
Nado PONS-PERPshort	+0.0100%	1h	0.6129	+0.057%	$88K	$107K	5x
Bybit PONSUSDT	+0.0100%	4h	0.6122	−0.051%	$18.5M	$31.5M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6123	−0.034%	$14.0M	$58.1M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6125	−0.005%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6150	+0.405%	$33K	$359K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6131	+0.093%	$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	0.6127	+0.036%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6122	−0.042%	$28K	$546K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6150	+0.411%	$65K	$509K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6124	−0.018%	$1.7M	$3.3M	20x	as long as short
KuCoin PONSUSDTM	+0.0116%	4h	0.6123	−0.038%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDTlong	+0.0140%	4h	0.6125	long leg	$4.8M	$11.7M	20x
Aevo PONS-PERP	+0.0160%	1h	0.6126	+0.007%	$382	—	3x	as long as short
Aster PONSUSDT	+0.0172%	4h	0.6123	−0.038%	$1.1M	$2.2M	20x	as long as short
Lighter PONS	+0.0216%	1h	0.6126	+0.008%	$1.7M	$922K	3x	as long as short
BingX PONS-USDT	+0.0300%	4h	0.6119	−0.100%	—	$3.0M	—	as long as short
Extended PONS-USD	+0.0304%	1h	0.6124	−0.020%	$253K	$682K	5x	as long as short
Binance PONSUSDT	+0.0305%	4h	0.6125	−0.002%	$40.1M	$98.8M	20x	as long as short
MEXC PONS_USDT	+0.0308%	4h	0.6124	−0.018%	$8.1M	$4.9M	20x	as long as short
edgeX PONSUSDC	+0.0309%	4h	0.6134	+0.139%	$21K	$293K	10x	as long as short
BloFin PONS-USDT	+0.0549%	4h	0.6130	+0.080%	$1.8M	$1.0M	20x	as long as short
Polymarket Perps PONS-USD	+0.0669%	1h	0.6128	+0.041%	$42K	$1.7M	3x	as long as short
Pacifica PONS	+0.0899%	1h	0.6126	+0.007%	$48K	$96K	3x	as long as short
Hyperliquid PONS	+0.0910%	1h	0.6128	+0.046%	$62.3M	$30.4M	3x	as long as short
Phoenix PONS	+0.1307%	1h	0.6126	+0.013%	$31K	$102K	3x	as long as short
Gate PONS_USDT	+0.2262%	4h	0.6120	−0.083%	$5.4M	$6.3M	20x	as long as short