Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0035%/8h= −3.9% APRpaid last 24h +0.016%

Price spread now: Binance against Nado−0.069%7-day average +0.004% · 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−$130as in the Price arb table

costs, in and out, $10k−$1221.223% of the position

Long on Nado Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.139%+$14 on $10k

Price spread, last 3 days (all we have)−0.084%−$8 · spread now −0.069%, 7d avg +0.004%

Together, before fees+0.055%+ Points / potential airdropNado: Active · farm board+$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Binance is 0.073% cheaper against Nado than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.004%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.139%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado PONS-PERP	0.5800	0.0171	pay 0.0021% / 1h	44m 23s	$88K	$103K	5x
Short	Binance PONSUSDT	0.5796	0.0135	get 0.0068% / 4h	2h 44m	$37.7M	$98.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Nado. 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 NadobpFee BinancebpOrdersPrice spread, now −0.069%Rate

Funding earned: −$7.43
Price spread: −0.069% → +0.004%: −$7.27
Slippage, 4 orders: −$112.34
Fee Nado: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$137.04
Costs to cover: 1.223%
Break-even: never at this rate

Slippage from Nado: live order book, 34 min ago; Binance: live order book, 13 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 Nado live order book, 34 min ago	19.48 bp	46.9 bp −$47	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 13 min ago	0.84 bp	12.5 bp −$12	33.1 bp −$331	253.8 bp −$25.4K	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	0.5796	−0.063%	$212K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+2.062%	$609	$6K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5805	+0.086%	$386K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5798	−0.034%	$21K	$452K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5792	−0.138%	$17.5M	$31.8M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5794	−0.103%	$13.3M	$55.1M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5796	−0.060%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5796	−0.078%	$4.5M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5813	+0.225%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5877	+1.333%	$34K	$328K	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5806	+0.112%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5809	+0.155%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5808	+0.131%	$26K	$548K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5809	+0.164%	$63K	$504K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5815	+0.259%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0112%	1h	0.5800	0.000%	$361	—	3x	as long as short
MEXC PONS_USDT	+0.0134%	4h	0.5798	−0.034%	$7.4M	$5.2M	20x	as long as short
Binance PONSUSDTshort	+0.0135%	4h	0.5796	−0.069%	$37.7M	$98.3M	20x
Extended PONS-USD	+0.0136%	1h	0.5797	−0.054%	$104K	$532K	5x	as long as short
Aster PONSUSDT	+0.0159%	4h	0.5795	−0.092%	$1.1M	$2.2M	20x	as long as short
BingX PONS-USDT	+0.0164%	4h	0.5794	−0.103%	—	$3.1M	—	as long as short
Nado PONS-PERPlong	+0.0171%	1h	0.5800	long leg	$88K	$103K	5x
Gate PONS_USDT	+0.0172%	4h	0.5808	+0.138%	$5.1M	$6.8M	20x	as long as short
edgeX PONSUSDC	+0.0174%	4h	0.5857	+0.989%	$20K	$294K	10x	as long as short
Polymarket Perps PONS-USD	+0.0283%	1h	0.5795	−0.079%	$38K	$1.8M	3x	as long as short
BloFin PONS-USDT	+0.0375%	4h	0.5807	+0.121%	$1.7M	$954K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5799	−0.018%	$46K	$102K	3x	as long as short
Hyperliquid PONS	+0.0511%	1h	0.5798	−0.034%	$57.8M	$30.0M	3x	as long as short
Lighter PONS	+0.0624%	1h	0.5810	+0.169%	$1.7M	$880K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5873	+1.262%	$27K	$86K	3x	as long as short