Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0238%/8h= −26.1% APRpaid last 24h −0.084%

Price spread now: SoDEX against MEXC+0.003%53s7-day average −0.003% · 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—prices read too far apart to compare

costs, in and out, $10k−$1391.387% of the position

Long on MEXC Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.283%−$28 on $10k

Price spread, last 3 days (all we have)+0.083%+$8 · spread now +0.003%, 7d avg −0.003%

Together, before fees−0.201%−$20 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.003%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PONS_USDT	0.6082	0.0338	pay 0.0169% / 4h	3h 37m	$7.9M	$4.8M	20x
Short	SoDEX PONS-USD	0.6082	0.0100	get 0.0013% / 1h	37m 25s	$28K	$552K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.003%Rate

Funding earned: −$49.98
Price spread: +0.003% → −0.003%: $0.64
Slippage, 4 orders: −$130.74
Fee MEXC: 0 bp × 2 orders: $0
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$188.08
Costs to cover: 1.387%
Break-even: never at this rate

Slippage from MEXC: live order book, just now; SoDEX: live order book, 36 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, just now	1.64 bp	3.9 bp −$4	11.7 bp −$117	339.3 bp −$33.9K	doesn't fit
Sell SoDEX live order book, 36 min ago	0.82 bp	65.5 bp −$65	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 +0.0033% / S −0.0033%	1h	0.6071	−0.183%	$240K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.850%	$614	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.6081	−0.018%	$431K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6083	+0.016%	$20K	$415K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6080	−0.040%	$1.4M	$4.2M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6081	−0.013%	$33K	$358K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6088	+0.095%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6084	+0.031%	—	$1.4M	10x	as long as short
SoDEX PONS-USDshort	+0.0100%	1h	0.6082	+0.003%	$28K	$552K	3x
HTX PONS-USDT	+0.0100%	4h	0.6095	+0.207%	$65K	$511K	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex PONSUSDT	+0.0100%	4h	0.6082	0.000%	$1.7M	$3.3M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0124%	4h	0.6084	+0.033%	$13.8M	$57.1M	20x	as long as short
KuCoin PONSUSDTM	+0.0164%	4h	0.6082	+0.005%	$1.8M	$3.8M	20x	as long as short
Aevo PONS-PERP	+0.0168%	1h	0.6082	+0.005%	$379	—	3x	as long as short
Bitget PONSUSDT	+0.0214%	4h	0.6087	+0.074%	$4.7M	$11.5M	20x	as long as short
Aster PONSUSDT	+0.0223%	4h	0.6082	−0.004%	$1.1M	$2.2M	20x	as long as short
Extended PONS-USD	+0.0336%	1h	0.6082	−0.005%	$252K	$683K	5x	as long as short
Binance PONSUSDT	+0.0338%	4h	0.6084	+0.033%	$39.8M	$97.1M	20x	as long as short
MEXC PONS_USDTlong	+0.0338%	4h	0.6082	long leg	$7.9M	$4.8M	20x
edgeX PONSUSDC	+0.0350%	4h	0.6084	+0.033%	$21K	$293K	10x	as long as short
Lighter PONS	+0.0472%	1h	0.6083	+0.015%	$1.7M	$896K	3x	as long as short
BloFin PONS-USDT	+0.0573%	4h	0.6082	0.000%	$1.7M	$1.0M	20x	as long as short
Nado PONS-PERP	+0.0595%	1h	0.6084	+0.033%	$105K	$115K	5x	as long as short
Gate PONS_USDT	+0.0620%	4h	0.6078	−0.066%	$5.3M	$6.2M	20x	as long as short
BingX PONS-USDT	+0.0650%	4h	0.6083	+0.016%	—	$3.1M	—	as long as short
Bybit PONSUSDT	+0.0663%	4h	0.6079	−0.049%	$18.2M	$31.0M	20x	as long as short
Pacifica PONS	+0.0665%	1h	0.6081	−0.023%	$48K	$87K	3x	as long as short
Polymarket Perps PONS-USD	+0.0764%	1h	0.6087	+0.077%	$44K	$1.6M	3x	as long as short
Hyperliquid PONS	+0.0918%	1h	0.6087	+0.081%	$61.9M	$29.2M	3x	as long as short
Phoenix PONS	+0.1608%	1h	0.6083	+0.025%	$31K	$113K	3x	as long as short