Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.093%

Price spread now: SoDEX against KuCoin+0.126%7-day average +0.020% · 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−$190as in the Price arb table

costs, in and out, $10k−$2002.004% of the position

Long on KuCoin Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.206%−$21 on $10k

Price spread, last 3 days (all we have)+0.096%+$10 · spread now +0.126%, 7d avg +0.020%

Together, before fees−0.111%−$11 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SoDEX is 0.105% dearer against KuCoin than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of +0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PONSUSDTM	0.5878	0.0100	pay 0.0050% / 4h	2h 08m	$1.7M	$3.7M	20x
Short	SoDEX PONS-USD	0.5885	0.0100	get 0.0013% / 1h	8m 01s	$27K	$549K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.126%Rate

Funding earned: $0
Price spread: +0.126% → +0.020%: $10.55
Slippage, 4 orders: −$180.36
Fee KuCoin: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$189.82
Costs to cover: 2.004%
Break-even: never at this rate

Slippage from KuCoin: live order book, 9 min ago; SoDEX: live order book, 16 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, 9 min ago	6.01 bp	27.5 bp −$28	doesn't fit	doesn't fit	doesn't fit
Sell SoDEX live order book, 16 min ago	1.02 bp	73.0 bp −$73	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 +0.0032% / S −0.0034%	1h	0.5881	+0.059%	$216K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+0.709%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5888	+0.172%	$21K	$442K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5871	−0.117%	$17.5M	$31.9M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5874	−0.066%	$13.3M	$55.9M	20x	as long as short
KuCoin PONSUSDTMlong	+0.0100%	4h	0.5878	long leg	$1.7M	$3.7M	20x
Bitget PONSUSDT	+0.0100%	4h	0.5877	−0.012%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5875	−0.052%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5885	+0.112%	$34K	$337K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5892	+0.243%	$2K	$3K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX PONS-USDT	+0.0100%	4h	0.5893	+0.250%	—	$1.4M	10x	as long as short
SoDEX PONS-USDshort	+0.0100%	1h	0.5885	+0.126%	$27K	$549K	3x
HTX PONS-USDT	+0.0100%	4h	0.5896	+0.299%	$63K	$505K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5873	−0.083%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0120%	1h	0.5887	+0.163%	$367	—	3x	as long as short
Nado PONS-PERP	+0.0122%	1h	0.5888	+0.166%	$89K	$103K	5x	as long as short
Aster PONSUSDT	+0.0161%	4h	0.5881	+0.046%	$1.1M	$2.2M	20x	as long as short
Extended PONS-USD	+0.0168%	1h	0.5874	−0.074%	$105K	$533K	5x	as long as short
Binance PONSUSDT	+0.0168%	4h	0.5874	−0.066%	$38.2M	$98.3M	20x	as long as short
MEXC PONS_USDT	+0.0170%	4h	0.5881	+0.053%	$7.5M	$5.2M	20x	as long as short
BingX PONS-USDT	+0.0182%	4h	0.5874	−0.066%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0193%	4h	0.5883	+0.088%	$21K	$292K	10x	as long as short
Polymarket Perps PONS-USD	+0.0370%	1h	0.5888	+0.174%	$37K	$1.8M	3x	as long as short
BloFin PONS-USDT	+0.0410%	4h	0.5880	+0.036%	$1.7M	$963K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5888	+0.165%	$47K	$103K	3x	as long as short
Lighter RH PONS	+0.0504%	1h	0.5885	+0.121%	$415K	$2.6M	3x	as long as short
Hyperliquid PONS	+0.0510%	1h	0.5878	+0.010%	$58.9M	$30.0M	3x	as long as short
Gate PONS_USDT	+0.0750%	4h	0.5874	−0.066%	$5.1M	$6.8M	20x	as long as short
Lighter PONS	+0.0960%	1h	0.5890	+0.214%	$1.7M	$900K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5887	+0.162%	$30K	$86K	3x	as long as short