Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0123%/8h= −13.4% APRpaid last 24h −0.126%

Price spread now: Injective against edgeX+0.103%7-day average — · you sell dearer than you buy

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

Long on edgeX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

The price spread pays, funding is against you. Injective is 0.103% dearer against edgeX than usual: you sell high and buy low (spread +0.103% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX PONSUSDC	0.5914	0.0189	pay 0.0094% / 4h	2h 48m	$21K	$293K	10x
Short	Injective PONS/USDC PERP	0.5920	0.0066	get 0.0008% / 1h	48m 13s	$609	$6K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against edgeX. 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 edgeXbpFee InjectivebpOrdersPrice spread, now +0.103%Rate

Funding earned: −$25.77
Price spread: +0.103% → 0.000%: $10.29
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$24.5
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: edgeX: live order book, 39 min ago; Injective: 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 edgeX live order book, 39 min ago	11.84 bp	20.6 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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 +0.0032% / S −0.0034%	1h	0.5878	−0.604%	$216K	—	150x	as long as short
Injective PONS/USDC PERPshort	+0.0066%	1h	0.5920	+0.103%	$609	$6K	5.5x
Lighter RH PONS	+0.0096%	1h	0.5882	−0.535%	$396K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5882	−0.533%	$21K	$456K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5875	−0.651%	$17.8M	$31.6M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5877	−0.617%	$13.5M	$55.6M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5879	−0.587%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5881	−0.555%	$4.6M	$11.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5902	−0.203%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5913	−0.005%	$34K	$327K	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5888	−0.437%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5880	−0.558%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5880	−0.558%	$27K	$536K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5893	−0.345%	$64K	$503K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5883	−0.516%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0120%	1h	0.5881	−0.543%	$366	—	3x	as long as short
Extended PONS-USD	+0.0152%	1h	0.5882	−0.541%	$105K	$529K	5x	as long as short
Binance PONSUSDT	+0.0156%	4h	0.5879	−0.580%	$38.2M	$98.1M	20x	as long as short
MEXC PONS_USDT	+0.0164%	4h	0.5879	−0.584%	$7.6M	$5.1M	20x	as long as short
BingX PONS-USDT	+0.0176%	4h	0.5882	−0.533%	—	$3.1M	—	as long as short
edgeX PONSUSDClong	+0.0189%	4h	0.5914	long leg	$21K	$293K	10x
Aster PONSUSDT	+0.0210%	4h	0.5878	−0.594%	$1.1M	$2.2M	20x	as long as short
Nado PONS-PERP	+0.0237%	1h	0.5883	−0.514%	$89K	$103K	5x	as long as short
Polymarket Perps PONS-USD	+0.0340%	1h	0.5881	−0.553%	$38K	$1.8M	3x	as long as short
Gate PONS_USDT	+0.0402%	4h	0.5880	−0.567%	$5.1M	$6.7M	20x	as long as short
BloFin PONS-USDT	+0.0404%	4h	0.5886	−0.465%	$1.7M	$964K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5884	−0.491%	$47K	$102K	3x	as long as short
Hyperliquid PONS	+0.0656%	1h	0.5881	−0.553%	$58.8M	$29.8M	3x	as long as short
Lighter PONS	+0.0760%	1h	0.5885	−0.489%	$1.7M	$879K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5909	−0.068%	$27K	$86K	3x	as long as short