Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0330%/8h= +36.2% APRpaid last 24h +0.023%

Price spread now: edgeX against Nado+0.209%62s7-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−$1401.397% of the position

Long on Nado Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.144%+$14 on $10k

Price spread, last 4 days (all we have)−0.212%−$21 · spread now +0.209%, 7d avg +0.003%

Together, before fees−0.068%+ Points / potential airdropNado: Active · edgeX: Active · farm board−$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and edgeX is 0.207% dearer against Nado than usual: you sell high and buy low: +$21 more if the spread goes back to its 7-day average of +0.003%. The two prices were read 62 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	Nado PONS-PERP	0.5911	0.0207	pay 0.0026% / 1h	47m 56s	$69K	$129K	5x
Short	edgeX PONSUSDC	0.5923	0.0538	get 0.0269% / 4h	47m 56s	$18K	$292K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.209%Rate

Funding earned: $69.36
Price spread: +0.209% → +0.003%: $20.69
Slippage, 4 orders: −$130.68
Fee Nado: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$49.63
Costs to cover: 1.397%
Break-even: 12.0 days

Slippage from Nado: live order book, just now; edgeX: live order book, 10 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, just now	17.02 bp	49.7 bp −$50	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 10 min ago	11.84 bp	22.0 bp −$22	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 −0.0032%	1h	0.5900	−0.182%	$234K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+0.998%	$614	$10K	5.5x	as long as short
Lighter PONS	+0.0096%	1h	0.5903	−0.122%	$1.6M	$880K	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5909	−0.026%	$20K	$434K	20x	as long as short
Gate PONS_USDT	+0.0100%	4h	0.5897	−0.229%	$5.2M	$6.2M	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5914	+0.054%	$34K	$350K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5910	−0.014%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5908	−0.041%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5902	−0.144%	$25K	$524K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5898	−0.212%	$64K	$512K	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	0.5903	−0.127%	$1.6M	$3.2M	20x	as long as short
Lighter RH PONS	+0.0120%	1h	0.5903	−0.134%	$402K	$2.4M	3x	as long as short
Variational Omni PONS	+0.0175%	4h	0.5914	+0.067%	$1.4M	$3.9M	—	as long as short
Nado PONS-PERPlong	+0.0207%	1h	0.5911	long leg	$69K	$129K	5x
Aevo PONS-PERP	+0.0208%	1h	0.5904	−0.119%	$368	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0330%	4h	0.5898	−0.212%	$13.4M	$53.9M	20x	as long as short
Aster PONSUSDT	+0.0379%	4h	0.5899	−0.189%	$1.1M	$2.1M	20x	as long as short
Bitget PONSUSDT	+0.0444%	4h	0.5901	−0.163%	$4.6M	$11.4M	20x	as long as short
Bybit PONSUSDT	+0.0445%	4h	0.5896	−0.246%	$17.6M	$30.7M	20x	as long as short
BingX PONS-USDT	+0.0503%	4h	0.5899	−0.195%	—	$3.0M	—	as long as short
Extended PONS-USD	+0.0520%	1h	0.5898	−0.205%	$105K	$808K	5x	as long as short
Binance PONSUSDT	+0.0523%	4h	0.5899	−0.197%	$38.8M	$94.8M	20x	as long as short
MEXC PONS_USDT	+0.0524%	4h	0.5901	−0.161%	$7.5M	$4.7M	20x	as long as short
edgeX PONSUSDCshort	+0.0538%	4h	0.5923	+0.209%	$18K	$292K	10x
KuCoin PONSUSDTM	+0.0548%	4h	0.5899	−0.191%	$1.6M	$3.7M	20x	as long as short
Hyperliquid PONS	+0.0737%	1h	0.5900	−0.181%	$60.0M	$27.8M	3x	as long as short
BloFin PONS-USDT	+0.0765%	4h	0.5905	−0.093%	$1.7M	$949K	20x	as long as short
Pacifica PONS	+0.0859%	1h	0.5907	−0.063%	$46K	$67K	3x	as long as short
Polymarket Perps PONS-USD	+0.0887%	1h	0.5909	−0.026%	$65K	$1.6M	3x	as long as short
Phoenix PONS	+0.1736%	1h	0.5918	+0.125%	$31K	$104K	3x	as long as short