Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0152%/8h= +16.6% APRpaid last 24h +0.083%

Price spread now: BingX against Nado−0.025%7-day average +0.025% · 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−$132as in the Price arb table

costs, in and out, $10k−$1271.266% of the position

Long on Nado Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.315%+$31 on $10k

Price spread, last 3 days (all we have)−0.104%−$10 · spread now −0.025%, 7d avg +0.025%

Together, before fees+0.211%+ Points / potential airdropNado: Active · farm board+$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. BingX is 0.050% cheaper against Nado than usual: you would sell low and buy high (spread −0.025% now, against its 7-day average of +0.025%). If the spread goes back, that is −$5 on $10k: about 26 hours of funding at the current rate (+$5 a day). At the pace of the last 3 days (+0.315% in total) that is about 12 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado PONS-PERP	0.6093	0.0100	pay 0.0012% / 1h	57m 16s	$86K	$107K	5x
Short	BingX PONS-USDT	0.6091	0.0252	get 0.0126% / 4h	57m 16s	—	$3.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.025%Rate

Funding earned: $31.92
Price spread: −0.025% → +0.025%: −$5.01
Slippage, 4 orders: −$116.57
Fee Nado: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$99.66
Costs to cover: 1.266%
Break-even: 28.9 days

Slippage from Nado: live order book, 11 min ago; BingX: live order book, 3 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, 11 min ago	17.17 bp	54.8 bp −$55	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 3 min ago	0.82 bp	10.1 bp −$10	31.7 bp −$317	149.4 bp −$14.9K	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	−2.019%	$614	$10K	5.5x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0036%	1h	0.6086	−0.112%	$229K	—	150x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6092	−0.009%	$21K	$450K	20x	as long as short
Nado PONS-PERPlong	+0.0100%	1h	0.6093	long leg	$86K	$107K	5x
Bybit PONSUSDT	+0.0100%	4h	0.6088	−0.074%	$18.4M	$31.7M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6091	−0.025%	$13.8M	$57.8M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.6093	+0.005%	$1.8M	$3.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6093	+0.011%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6095	+0.034%	$33K	$359K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6101	+0.136%	$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	0.6094	+0.021%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6095	+0.033%	$28K	$548K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6100	+0.131%	$65K	$509K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6085	−0.123%	$1.7M	$3.3M	20x	as long as short
Bitget PONSUSDT	+0.0102%	4h	0.6097	+0.080%	$4.8M	$11.7M	20x	as long as short
Aevo PONS-PERP	+0.0144%	1h	0.6098	+0.083%	$380	—	3x	as long as short
Lighter RH PONS	+0.0160%	1h	0.6096	+0.057%	$430K	$2.6M	3x	as long as short
Aster PONSUSDT	+0.0181%	4h	0.6094	+0.024%	$1.1M	$2.2M	20x	as long as short
Lighter PONS	+0.0240%	1h	0.6096	+0.064%	$1.7M	$921K	3x	as long as short
Extended PONS-USD	+0.0248%	1h	0.6096	+0.064%	$253K	$680K	5x	as long as short
Binance PONSUSDT	+0.0249%	4h	0.6097	+0.065%	$39.7M	$98.7M	20x	as long as short
MEXC PONS_USDT	+0.0250%	4h	0.6093	+0.008%	$8.1M	$4.8M	20x	as long as short
BingX PONS-USDTshort	+0.0252%	4h	0.6091	−0.025%	—	$3.1M	—
edgeX PONSUSDC	+0.0258%	4h	0.6096	+0.056%	$21K	$292K	10x	as long as short
BloFin PONS-USDT	+0.0489%	4h	0.6098	+0.090%	$1.7M	$1.0M	20x	as long as short
Polymarket Perps PONS-USD	+0.0636%	1h	0.6093	+0.011%	$40K	$1.7M	3x	as long as short
Hyperliquid PONS	+0.0804%	1h	0.6094	+0.031%	$61.9M	$30.6M	3x	as long as short
Pacifica PONS	+0.0899%	1h	0.6091	−0.027%	$48K	$96K	3x	as long as short
Phoenix PONS	+0.1398%	1h	0.6092	−0.007%	$31K	$102K	3x	as long as short
Gate PONS_USDT	+0.1772%	4h	0.6091	−0.025%	$5.3M	$6.2M	20x	as long as short