PONS

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0164%/8h= −17.9% APRnext payment −$0.20 per $10,000 · paid last 24h −0.099%

Price spread now: Nado against Hyperliquid+0.101%7-day average −0.011% · 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−$107as in the Price arb table

costs, in and out, $10k−$1181.184% of the position

Long on Hyperliquid Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.208%−$21 on $10k

Price spread, last 4 days (all we have)+0.085%+$8 · spread now +0.101%, 7d avg −0.011%

Together, before fees−0.123%+ Points / potential airdropHyperliquid: Season 2 · Nado: Active · farm board−$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Nado is 0.112% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.101% now, against its 7-day average of −0.011%): +$11 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 2.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid PONS	0.5918	0.0264	pay 0.0033% / 1h	43m 24s	$60.0M	$29.0M	3x
Short	Nado PONS-PERP	0.5924	0.0100	get 0.0012% / 1h	43m 24s	$69K	$130K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Hyperliquid. 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 HyperliquidbpFee NadobpOrdersPrice spread, now +0.101%Rate

Funding earned: −$34.36
Price spread: +0.101% → −0.011%: $11.22
Slippage, 4 orders: −$109.36
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Nado: 0 bp × 2 orders: $0
Net: −$141.5
Costs to cover: 1.184%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 10 min ago; Nado: 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 Hyperliquid live order book, 10 min ago	1.69 bp	14.5 bp −$14	17.2 bp −$172	doesn't fit	doesn't fit
Sell Nado live order book, 60 min ago	14.57 bp	49.0 bp −$49	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	0.5912	−0.101%	$235K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+0.870%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5929	+0.182%	$418K	$2.5M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5920	+0.034%	$21K	$417K	20x	as long as short
Nado PONS-PERPshort	+0.0100%	1h	0.5924	+0.101%	$69K	$130K	5x
ApeX Omni PONSUSDT	+0.0100%	1h	0.5925	+0.118%	$34K	$335K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5940	+0.379%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5931	+0.220%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5933	+0.245%	$26K	$546K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5937	+0.326%	$64K	$513K	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	0.5936	+0.304%	$1.6M	$3.2M	20x	as long as short
Gate PONS_USDT	+0.0142%	4h	0.5923	+0.084%	$5.2M	$6.2M	20x	as long as short
Aevo PONS-PERP	+0.0240%	1h	0.5936	+0.296%	$370	—	3x	as long as short
Hyperliquid PONSlong	+0.0264%	1h	0.5918	long leg	$60.0M	$29.0M	3x
OKX PONS-USDT-SWAP	+0.0367%	4h	0.5918	0.000%	$13.4M	$54.7M	20x	as long as short
Aster PONSUSDT	+0.0490%	4h	0.5926	+0.127%	$1.1M	$2.2M	20x	as long as short
Variational Omni PONS	+0.0538%	4h	0.5931	+0.227%	$1.4M	$4.1M	—	as long as short
Bitget PONSUSDT	+0.0558%	4h	0.5921	+0.051%	$4.7M	$11.8M	20x	as long as short
Binance PONSUSDT	+0.0616%	4h	0.5924	+0.101%	$38.7M	$94.7M	20x	as long as short
Extended PONS-USD	+0.0616%	1h	0.5924	+0.109%	$106K	$807K	5x	as long as short
MEXC PONS_USDT	+0.0618%	4h	0.5921	+0.051%	$7.5M	$4.7M	20x	as long as short
edgeX PONSUSDC	+0.0627%	4h	0.5939	+0.349%	$20K	$296K	10x	as long as short
Pacifica PONS	+0.0715%	1h	0.5925	+0.122%	$46K	$68K	3x	as long as short
KuCoin PONSUSDTM	+0.0734%	4h	0.5923	+0.084%	$1.6M	$3.8M	20x	as long as short
Polymarket Perps PONS-USD	+0.0795%	1h	0.5918	+0.008%	$87K	$1.7M	3x	as long as short
BingX PONS-USDT	+0.0796%	4h	0.5919	+0.017%	—	$3.0M	—	as long as short
Lighter PONS	+0.0800%	1h	0.5931	+0.218%	$1.6M	$886K	3x	as long as short
Bybit PONSUSDT	+0.0839%	4h	0.5918	0.000%	$17.7M	$31.0M	20x	as long as short
BloFin PONS-USDT	+0.0858%	4h	0.5938	+0.338%	$1.7M	$946K	20x	as long as short
Phoenix PONS	+0.1719%	1h	0.5937	+0.326%	$45K	$121K	3x	as long as short