Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0010%/8h= −1.1% APRpaid last 24h −0.023%

Price spread now: Nado against KuCoin+0.140%7-day average +0.019% · 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−$155as in the Price arb table

costs, in and out, $10k−$1671.670% of the position

Long on KuCoin Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.091%−$9 on $10k

Price spread, last 3 days (all we have)−0.066%−$7 · spread now +0.140%, 7d avg +0.019%

Together, before fees−0.157%+ Points / potential airdropNado: Active · farm board−$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Nado is 0.121% dearer against KuCoin than usual: you sell high and buy low (spread +0.140% now, against its 7-day average of +0.019%): +$12 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 40 days. At the pace of the last 3 days (−0.091% in total) that is about 4.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PONSUSDTM	0.6121	0.0110	pay 0.0055% / 4h	47m 24s	$1.8M	$3.7M	20x
Short	Nado PONS-PERP	0.6129	0.0100	get 0.0012% / 1h	47m 24s	$87K	$107K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against KuCoin. 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 KuCoinbpFee NadobpOrdersPrice spread, now +0.140%Rate

Funding earned: −$2.1
Price spread: +0.140% → +0.019%: $12.13
Slippage, 4 orders: −$154.99
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Nado: 0 bp × 2 orders: $0
Net: −$156.96
Costs to cover: 1.670%
Break-even: never at this rate

Slippage from KuCoin: live order book, 10 min ago; Nado: live order book, 21 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 KuCoin live order book, 10 min ago	3.03 bp	25.2 bp −$25	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 21 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	−2.470%	$614	$10K	5.5x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0036%	1h	0.6110	−0.169%	$230K	—	150x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6131	+0.168%	$20K	$460K	20x	as long as short
Nado PONS-PERPshort	+0.0100%	1h	0.6129	+0.140%	$87K	$107K	5x
Bybit PONSUSDT	+0.0100%	4h	0.6126	+0.087%	$18.5M	$31.9M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6123	+0.038%	$14.0M	$58.5M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6139	+0.295%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6159	+0.621%	$33K	$360K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6158	+0.616%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6158	+0.613%	—	$1.4M	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX PONS-USD	+0.0100%	1h	0.6152	+0.511%	$28K	$551K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6177	+0.926%	$66K	$509K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6147	+0.430%	$1.7M	$3.3M	20x	as long as short
KuCoin PONSUSDTMlong	+0.0110%	4h	0.6121	long leg	$1.8M	$3.7M	20x
Bitget PONSUSDT	+0.0118%	4h	0.6123	+0.031%	$4.8M	$11.7M	20x	as long as short
Aevo PONS-PERP	+0.0152%	1h	0.6150	+0.473%	$383	—	3x	as long as short
Aster PONSUSDT	+0.0211%	4h	0.6140	+0.322%	$1.1M	$2.2M	20x	as long as short
MEXC PONS_USDT	+0.0300%	4h	0.6123	+0.038%	$8.1M	$4.8M	20x	as long as short
BingX PONS-USDT	+0.0302%	4h	0.6135	+0.234%	—	$3.1M	—	as long as short
Binance PONSUSDT	+0.0304%	4h	0.6138	+0.278%	$40.0M	$99.2M	20x	as long as short
Extended PONS-USD	+0.0304%	1h	0.6137	+0.264%	$254K	$682K	5x	as long as short
edgeX PONSUSDC	+0.0305%	4h	0.6150	+0.483%	$21K	$294K	10x	as long as short
Lighter RH PONS	+0.0408%	1h	0.6148	+0.446%	$432K	$2.6M	3x	as long as short
Lighter PONS	+0.0464%	1h	0.6149	+0.466%	$1.7M	$921K	3x	as long as short
BloFin PONS-USDT	+0.0541%	4h	0.6158	+0.609%	$1.7M	$1.0M	20x	as long as short
Polymarket Perps PONS-USD	+0.0682%	1h	0.6129	+0.127%	$42K	$1.7M	3x	as long as short
Pacifica PONS	+0.0899%	1h	0.6144	+0.384%	$48K	$96K	3x	as long as short
Hyperliquid PONS	+0.0978%	1h	0.6126	+0.078%	$62.2M	$30.8M	3x	as long as short
Phoenix PONS	+0.1307%	1h	0.6150	+0.487%	$31K	$102K	3x	as long as short
Gate PONS_USDT	+0.2072%	4h	0.6137	+0.266%	$5.4M	$6.2M	20x	as long as short