Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0524%/8h= −57.4% APRpaid last 24h −0.101%

Price spread now: SoDEX against edgeX+0.142%7-day average +0.002% · 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−$159as in the Price arb table

costs, in and out, $10k−$1731.734% of the position

Long on edgeX Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.319%−$32 on $10k

Price spread, last 4 days (all we have)+0.151%+$15 · spread now +0.142%, 7d avg +0.002%

Together, before fees−0.168%+ Points / potential airdropedgeX: Active · farm board−$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SoDEX is 0.140% dearer against edgeX than usual: you sell high and buy low (spread +0.142% now, against its 7-day average of +0.002%): +$14 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 21 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX PONSUSDC	0.6038	0.0624	pay 0.0312% / 4h	3h 30m	$18K	$294K	10x
Short	SoDEX PONS-USD	0.6047	0.0100	get 0.0013% / 1h	30m 46s	$26K	$531K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.142%Rate

Funding earned: −$110.01
Price spread: +0.142% → +0.002%: $13.98
Slippage, 4 orders: −$156.38
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$269.4
Costs to cover: 1.734%
Break-even: never at this rate

Slippage from edgeX: live order book, 22 min ago; SoDEX: 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, 22 min ago	11.60 bp	20.0 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell SoDEX live order book, 23 min ago	0.99 bp	65.1 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 −0.0032%	1h	0.6034	−0.061%	$240K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.134%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6041	+0.051%	$21K	$416K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.6040	+0.027%	$71K	$129K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6027	−0.188%	$35K	$342K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6045	+0.109%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6041	+0.054%	—	$1.3M	10x	as long as short
SoDEX PONS-USDshort	+0.0100%	1h	0.6047	+0.142%	$26K	$531K	3x
HTX PONS-USDT	+0.0100%	4h	0.6041	+0.056%	$65K	$513K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6045	+0.117%	$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	+0.0208%	1h	0.6044	+0.104%	$413K	$2.5M	3x	as long as short
Aevo PONS-PERP	+0.0240%	1h	0.6038	0.000%	$376	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0354%	4h	0.6044	+0.100%	$13.8M	$55.4M	20x	as long as short
Variational Omni PONS	+0.0427%	4h	0.6045	+0.124%	$1.5M	$3.9M	—	as long as short
Hyperliquid PONS	+0.0491%	1h	0.6041	+0.054%	$61.8M	$28.0M	3x	as long as short
Aster PONSUSDT	+0.0518%	4h	0.6048	+0.166%	$1.1M	$2.1M	20x	as long as short
Bitget PONSUSDT	+0.0524%	4h	0.6046	+0.127%	$4.6M	$11.5M	20x	as long as short
Lighter PONS	+0.0560%	1h	0.6045	+0.109%	$1.7M	$892K	3x	as long as short
MEXC PONS_USDT	+0.0622%	4h	0.6052	+0.233%	$7.7M	$4.7M	20x	as long as short
edgeX PONSUSDClong	+0.0624%	4h	0.6038	long leg	$18K	$294K	10x
Binance PONSUSDT	+0.0629%	4h	0.6046	+0.133%	$39.5M	$94.3M	20x	as long as short
Extended PONS-USD	+0.0632%	1h	0.6049	+0.184%	$108K	$808K	5x	as long as short
Polymarket Perps PONS-USD	+0.0690%	1h	0.6042	+0.066%	$72K	$1.6M	3x	as long as short
KuCoin PONSUSDTM	+0.0742%	4h	0.6047	+0.145%	$1.6M	$3.8M	20x	as long as short
Gate PONS_USDT	+0.0768%	4h	0.6040	+0.034%	$5.3M	$6.2M	20x	as long as short
BloFin PONS-USDT	+0.0868%	4h	0.6048	+0.167%	$1.7M	$969K	20x	as long as short
BingX PONS-USDT	+0.0944%	4h	0.6048	+0.167%	—	$2.9M	—	as long as short
Pacifica PONS	+0.1081%	1h	0.6031	−0.115%	$47K	$67K	3x	as long as short
Bybit PONSUSDT	+0.1133%	4h	0.6046	+0.133%	$18.1M	$30.6M	20x	as long as short
Phoenix PONS	+0.1586%	1h	0.6028	−0.156%	$46K	$109K	3x	as long as short