Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0176%/8h= −19.3% APRpaid last 24h −0.099%

Price spread now: Popdex against MEXC+0.081%7-day average +0.005% · 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−$173as in the Price arb table

costs, in and out, $10k−$1811.809% of the position

Long on MEXC Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.301%−$30 on $10k

Price spread, last 3 days (all we have)−0.135%−$13 · spread now +0.081%, 7d avg +0.005%

Together, before fees−0.436%−$44 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Popdex is 0.076% dearer against MEXC than usual: you sell high and buy low (spread +0.081% now, against its 7-day average of +0.005%): +$8 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 35 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PONS_USDT	0.6145	0.0272	pay 0.0136% / 4h	51m 59s	$8.2M	$4.8M	20x
Short	Popdex PONSUSDT	0.6150	0.0096	get 0.0012% / 1h	51m 59s	$19K	$455K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now +0.081%Rate

Funding earned: −$36.96
Price spread: +0.081% → +0.005%: $7.6
Slippage, 4 orders: −$174.54
Fee MEXC: 0 bp × 2 orders: $0
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$210.3
Costs to cover: 1.809%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; Popdex: live order book, 27 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, 1 min ago	0.81 bp	4.2 bp −$4	13.2 bp −$132	391.4 bp −$39.1K	doesn't fit
Sell Popdex live order book, 27 min ago	10.77 bp	87.6 bp −$88	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	−2.856%	$614	$10K	5.5x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0036%	1h	0.6130	−0.246%	$231K	—	150x	as long as short
Popdex PONSUSDTshort	+0.0096%	1h	0.6150	+0.081%	$19K	$455K	20x
Nado PONS-PERP	+0.0100%	1h	0.6155	+0.163%	$87K	$107K	5x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.6138	−0.114%	$18.5M	$31.9M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6140	−0.081%	$13.9M	$58.6M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.6141	−0.065%	$1.8M	$3.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6082	−1.022%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6091	−0.879%	$33K	$360K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6146	+0.008%	$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	0.6149	+0.073%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6135	−0.161%	$28K	$548K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6145	−0.003%	$65K	$509K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6134	−0.179%	$1.7M	$3.3M	20x	as long as short
Bitget PONSUSDT	+0.0116%	4h	0.6145	−0.003%	$4.8M	$11.7M	20x	as long as short
Aevo PONS-PERP	+0.0144%	1h	0.6139	−0.094%	$382	—	3x	as long as short
Aster PONSUSDT	+0.0203%	4h	0.6150	+0.081%	$1.1M	$2.2M	20x	as long as short
edgeX PONSUSDC	+0.0252%	4h	0.6109	−0.580%	$21K	$292K	10x	as long as short
BingX PONS-USDT	+0.0254%	4h	0.6142	−0.049%	—	$3.1M	—	as long as short
MEXC PONS_USDTlong	+0.0272%	4h	0.6145	long leg	$8.2M	$4.8M	20x
Lighter PONS	+0.0288%	1h	0.6142	−0.050%	$1.7M	$921K	3x	as long as short
Binance PONSUSDT	+0.0295%	4h	0.6144	−0.017%	$40.0M	$99.3M	20x	as long as short
Extended PONS-USD	+0.0296%	1h	0.6142	−0.046%	$254K	$682K	5x	as long as short
BloFin PONS-USDT	+0.0514%	4h	0.6157	+0.195%	$1.8M	$1.0M	20x	as long as short
Lighter RH PONS	+0.0600%	1h	0.6142	−0.050%	$432K	$2.6M	3x	as long as short
Polymarket Perps PONS-USD	+0.0798%	1h	0.6151	+0.094%	$42K	$1.7M	3x	as long as short
Pacifica PONS	+0.0899%	1h	0.6149	+0.072%	$48K	$96K	3x	as long as short
Hyperliquid PONS	+0.1115%	1h	0.6142	−0.050%	$62.5M	$30.6M	3x	as long as short
Phoenix PONS	+0.1307%	1h	0.6117	−0.456%	$31K	$102K	3x	as long as short
Gate PONS_USDT	+0.1914%	4h	0.6134	−0.179%	$5.3M	$6.2M	20x	as long as short