Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0404%/8h= −44.2% APRpaid last 24h −0.081%

Price spread now: Popdex against KuCoin−0.011%7-day average +0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$279as in the Price arb table

costs, in and out, $10k−$2762.756% of the position

Long on KuCoin Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.302%−$30 on $10k

Price spread, last 4 days (all we have)+0.061%+$6 · spread now −0.011%, 7d avg +0.023%

Together, before fees−0.240%−$24 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Popdex is 0.034% cheaper against KuCoin than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.023%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PONSUSDTM	0.6314	0.0500	pay 0.0250% / 4h	50m 32s	$1.8M	$4.3M	20x
Short	Popdex PONSUSDT	0.6313	0.0096	get 0.0012% / 1h	50m 32s	$21K	$396K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against KuCoin. 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 KuCoinbpFee PopdexbpOrdersPrice spread, now −0.011%Rate

Funding earned: −$84.84
Price spread: −0.011% → +0.023%: −$3.45
Slippage, 4 orders: −$257.22
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$363.91
Costs to cover: 2.756%
Break-even: never at this rate

Slippage from KuCoin: live order book, just now; Popdex: live order book, 56 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, just now	2.30 bp	23.7 bp −$24	doesn't fit	doesn't fit	doesn't fit
Sell Popdex live order book, 56 min ago	7.34 bp	119.7 bp −$120	doesn't fit	doesn't fit	doesn't fit

PONS on 30 exchanges

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 +0.0031% / S −0.0029%	1h	0.6304	−0.150%	$248K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5938	−5.943%	$610	$10K	5.5x	as long as short
Popdex PONSUSDTshort	+0.0096%	1h	0.6313	−0.011%	$21K	$396K	20x
Nado PONS-PERP	+0.0100%	1h	0.6309	−0.067%	$77K	$92K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6338	+0.385%	$32K	$286K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6318	+0.063%	$2K	$4K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6315	+0.029%	—	$828K	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6314	+0.003%	$27K	$594K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6316	+0.030%	$65K	$549K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6311	−0.043%	$1.7M	$3.2M	20x	as long as short

Show all 30 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PONS-PERP	+0.0224%	1h	0.6314	+0.013%	$393	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0270%	4h	0.6313	−0.011%	$13.9M	$59.2M	20x	as long as short
Hyperliquid PONS	+0.0396%	1h	0.6313	−0.011%	$64.6M	$29.4M	3x	as long as short
Aster PONSUSDT	+0.0413%	4h	0.6314	+0.012%	$1.2M	$2.1M	20x	as long as short
KuCoin PONSUSDTMlong	+0.0500%	4h	0.6314	long leg	$1.8M	$4.3M	20x
Pacifica PONS	+0.0517%	1h	0.6312	−0.033%	$46K	$73K	3x	as long as short
Lighter RH PONS	+0.0536%	1h	0.6313	−0.016%	$461K	$2.6M	3x	as long as short
Gate PONS_USDT	+0.0540%	4h	0.6309	−0.074%	$5.4M	$6.4M	20x	as long as short
Binance PONSUSDT	+0.0550%	4h	0.6319	+0.084%	$40.7M	$98.1M	20x	as long as short
Extended PONS-USD	+0.0552%	1h	0.6312	−0.029%	$182K	$849K	5x	as long as short
MEXC PONS_USDT	+0.0552%	4h	0.6313	−0.011%	$7.7M	$4.5M	20x	as long as short
Polymarket Perps PONS-USD	+0.0558%	1h	0.6311	−0.041%	$87K	$2.0M	3x	as long as short
Variational Omni PONS	+0.0573%	4h	0.6319	+0.081%	$1.5M	$3.8M	—	as long as short
edgeX PONSUSDC	+0.0585%	4h	0.6327	+0.219%	$18K	$294K	10x	as long as short
Bitget PONSUSDT	+0.0684%	4h	0.6317	+0.054%	$5.0M	$13.1M	20x	as long as short
BingX PONS-USDT	+0.0712%	4h	0.6310	−0.059%	—	$3.1M	—	as long as short
Bybit PONSUSDT	+0.0740%	4h	0.6315	+0.021%	$19.0M	$31.3M	20x	as long as short
BloFin PONS-USDT	+0.0798%	4h	0.6314	+0.005%	$1.8M	$1.1M	20x	as long as short
Lighter PONS	+0.0808%	1h	0.6314	+0.010%	$1.8M	$848K	3x	as long as short
Phoenix PONS	+0.1439%	1h	0.6328	+0.220%	$48K	$153K	3x	as long as short