Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0251%/8h= +27.5% APRpaid last 24h −0.026%

Price spread now: Nado against edgeX+0.112%62s7-day average +0.006% · 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—prices read too far apart to compare

costs, in and out, $10k−$1371.370% of the position

Long on edgeX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.159%−$16 on $10k

Price spread, last 3 days (all we have)−0.077%−$8 · spread now +0.112%, 7d avg +0.006%

Together, before fees−0.236%+ Points / potential airdropedgeX: Active · Nado: Active · farm board−$24 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Nado is 0.106% dearer against edgeX than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.006%. Mind the row above: over the last 3 days funding on this pair cost −0.159%, so the current rate has only just turned in your favour. The two prices were read 62 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	edgeX PONSUSDC	0.6078	0.0333	pay 0.0167% / 4h	3h 40m	$21K	$292K	10x
Short	Nado PONS-PERP	0.6084	0.0584	get 0.0073% / 1h	40m 21s	$105K	$116K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against edgeX. 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 edgeXbpFee NadobpOrdersPrice spread, now +0.112%Rate

Funding earned: $52.65
Price spread: +0.112% → +0.006%: $10.62
Slippage, 4 orders: −$128.04
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Nado: 0 bp × 2 orders: $0
Net: −$73.77
Costs to cover: 1.370%
Break-even: 16.8 days

Slippage from edgeX: live order book, 33 min ago; Nado: live order book, 23 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 edgeX live order book, 33 min ago	11.48 bp	19.8 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 23 min ago	13.85 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
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0033%	1h	0.6084	+0.104%	$241K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.777%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6081	+0.056%	$431K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6091	+0.222%	$20K	$416K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6080	+0.034%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6068	−0.152%	$33K	$357K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6095	+0.286%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6090	+0.210%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6095	+0.288%	$28K	$552K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6100	+0.378%	$65K	$510K	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex PONSUSDT	+0.0100%	4h	0.6084	+0.107%	$1.7M	$3.3M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0118%	4h	0.6095	+0.288%	$13.8M	$57.4M	20x	as long as short
KuCoin PONSUSDTM	+0.0162%	4h	0.6084	+0.107%	$1.8M	$3.8M	20x	as long as short
Aevo PONS-PERP	+0.0168%	1h	0.6091	+0.228%	$379	—	3x	as long as short
Bitget PONSUSDT	+0.0206%	4h	0.6099	+0.358%	$4.7M	$11.6M	20x	as long as short
Aster PONSUSDT	+0.0218%	4h	0.6085	+0.126%	$1.1M	$2.2M	20x	as long as short
Gate PONS_USDT	+0.0322%	4h	0.6078	+0.008%	$5.3M	$6.2M	20x	as long as short
MEXC PONS_USDT	+0.0332%	4h	0.6091	+0.222%	$7.9M	$4.8M	20x	as long as short
Binance PONSUSDT	+0.0333%	4h	0.6091	+0.222%	$39.9M	$97.5M	20x	as long as short
edgeX PONSUSDClong	+0.0333%	4h	0.6078	long leg	$21K	$292K	10x
Extended PONS-USD	+0.0336%	1h	0.6095	+0.283%	$252K	$683K	5x	as long as short
Lighter PONS	+0.0464%	1h	0.6082	+0.079%	$1.7M	$896K	3x	as long as short
BloFin PONS-USDT	+0.0573%	4h	0.6088	+0.173%	$1.7M	$1.0M	20x	as long as short
Nado PONS-PERPshort	+0.0584%	1h	0.6084	+0.112%	$105K	$116K	5x
Bybit PONSUSDT	+0.0660%	4h	0.6090	+0.205%	$18.3M	$31.1M	20x	as long as short
Pacifica PONS	+0.0665%	1h	0.6083	+0.096%	$48K	$87K	3x	as long as short
BingX PONS-USDT	+0.0740%	4h	0.6099	+0.354%	—	$3.1M	—	as long as short
Polymarket Perps PONS-USD	+0.0788%	1h	0.6089	+0.184%	$43K	$1.6M	3x	as long as short
Hyperliquid PONS	+0.0936%	1h	0.6091	+0.224%	$61.9M	$29.8M	3x	as long as short
Phoenix PONS	+0.1608%	1h	0.6085	+0.115%	$31K	$113K	3x	as long as short