Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.061%

Price spread now: BingX against MEXC−0.050%7-day average +0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$320.318% of the position

Long on MEXC Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.197%+$20 on $10k

Price spread, last 3 days (all we have)−0.012%−$1 · spread now −0.050%, 7d avg +0.021%

Together, before fees+0.185%+$19 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: BingX is 0.071% cheaper against MEXC than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PONS_USDT	0.5995	0.0182	pay 0.0091% / 4h	1h 22m	$7.7M	$4.9M	20x
Short	BingX PONS-USDT	0.5992	0.0182	get 0.0091% / 4h	1h 22m	—	$3.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against MEXC. 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 MEXCbpFee BingXbpOrdersPrice spread, now −0.050%Rate

Funding earned: $0
Price spread: −0.050% → +0.021%: −$7.14
Slippage, 4 orders: −$21.83
Fee MEXC: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$38.97
Costs to cover: 0.318%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; BingX: live order book, 2 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 MEXC live order book, 5 min ago	0.84 bp	2.9 bp −$3	13.1 bp −$131	403.1 bp −$40.3K	doesn't fit
Sell BingX live order book, 2 min ago	2.50 bp	13.1 bp −$13	37.4 bp −$374	146.2 bp −$14.6K	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 −0.0034%	1h	0.5981	−0.235%	$219K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.425%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5989	−0.100%	$19K	$438K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5993	−0.033%	$17.9M	$31.6M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5992	−0.050%	$13.6M	$56.4M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5992	−0.042%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5998	+0.053%	$4.7M	$11.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5961	−0.563%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5994	−0.012%	$35K	$350K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5995	+0.002%	$3K	$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	0.5990	−0.075%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5988	−0.125%	$27K	$548K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6000	+0.077%	$64K	$506K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5989	−0.100%	$1.7M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5987	−0.133%	$373	—	3x	as long as short
Aster PONSUSDT	+0.0149%	4h	0.5992	−0.043%	$1.1M	$2.2M	20x	as long as short
edgeX PONSUSDC	+0.0174%	4h	0.5991	−0.064%	$21K	$292K	10x	as long as short
MEXC PONS_USDTlong	+0.0182%	4h	0.5995	long leg	$7.7M	$4.9M	20x
BingX PONS-USDTshort	+0.0182%	4h	0.5992	−0.050%	—	$3.1M	—
Extended PONS-USD	+0.0192%	1h	0.5993	−0.032%	$248K	$667K	5x	as long as short
Binance PONSUSDT	+0.0192%	4h	0.5994	−0.023%	$39.0M	$97.8M	20x	as long as short
Nado PONS-PERP	+0.0236%	1h	0.5988	−0.119%	$91K	$103K	5x	as long as short
Lighter RH PONS	+0.0400%	1h	0.5989	−0.102%	$423K	$2.7M	3x	as long as short
BloFin PONS-USDT	+0.0432%	4h	0.5985	−0.167%	$1.7M	$981K	20x	as long as short
Pacifica PONS	+0.0451%	1h	0.5986	−0.142%	$47K	$96K	3x	as long as short
Polymarket Perps PONS-USD	+0.0499%	1h	0.5991	−0.067%	$37K	$1.7M	3x	as long as short
Hyperliquid PONS	+0.0679%	1h	0.5992	−0.043%	$60.5M	$30.0M	3x	as long as short
Lighter PONS	+0.0752%	1h	0.5989	−0.102%	$1.7M	$998K	3x	as long as short
Gate PONS_USDT	+0.1288%	4h	0.5989	−0.100%	$5.2M	$6.5M	20x	as long as short
Phoenix PONS	+0.1398%	1h	0.5990	−0.088%	$30K	$96K	3x	as long as short