Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0214%/8h= −23.4% APRpaid last 24h +0.009%

Price spread now: Gate against Nado−0.062%7-day average — · 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−$155as in the Price arb table

costs, in and out, $10k−$1481.484% of the position

Long on Nado Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropNado: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Gate is 0.062% cheaper against Nado than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado PONS-PERP	0.5925	0.0520	pay 0.0065% / 1h	55m 57s	$90K	$103K	5x
Short	Gate PONS_USDT	0.5921	0.0306	get 0.0153% / 4h	2h 55m	$5.2M	$6.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.062%Rate

Funding earned: −$44.84
Price spread: −0.062% → 0.000%: −$6.22
Slippage, 4 orders: −$133.37
Fee Nado: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$199.43
Costs to cover: 1.484%
Break-even: never at this rate

Slippage from Nado: live order book, 23 min ago; Gate: live order book, 2 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, 23 min ago	19.48 bp	46.9 bp −$47	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	2.53 bp	25.5 bp −$25	61.1 bp −$611	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 +0.0032% / S −0.0034%	1h	0.5918	−0.116%	$217K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	−0.086%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5920	−0.079%	$21K	$459K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5919	−0.096%	$18.0M	$31.4M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5929	+0.073%	$13.6M	$56.2M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5919	−0.096%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5919	−0.098%	$4.6M	$11.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5963	+0.640%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5963	+0.653%	$34K	$326K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5929	+0.069%	$2K	$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	0.5924	−0.012%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5920	−0.074%	$27K	$535K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5938	+0.225%	$64K	$503K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5922	−0.045%	$1.7M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5926	+0.021%	$369	—	3x	as long as short
Lighter RH PONS	+0.0152%	1h	0.5922	−0.052%	$398K	$2.6M	3x	as long as short
Binance PONSUSDT	+0.0182%	4h	0.5920	−0.075%	$38.6M	$98.2M	20x	as long as short
Extended PONS-USD	+0.0184%	1h	0.5918	−0.107%	$106K	$529K	5x	as long as short
BingX PONS-USDT	+0.0188%	4h	0.5921	−0.062%	—	$3.1M	—	as long as short
MEXC PONS_USDT	+0.0190%	4h	0.5918	−0.113%	$7.8M	$5.1M	20x	as long as short
edgeX PONSUSDC	+0.0206%	4h	0.5961	+0.611%	$21K	$292K	10x	as long as short
Aster PONSUSDT	+0.0250%	4h	0.5919	−0.096%	$1.1M	$2.2M	20x	as long as short
Gate PONS_USDTshort	+0.0306%	4h	0.5921	−0.062%	$5.2M	$6.7M	20x
Polymarket Perps PONS-USD	+0.0314%	1h	0.5921	−0.069%	$38K	$1.8M	3x	as long as short
BloFin PONS-USDT	+0.0431%	4h	0.5934	+0.157%	$1.7M	$988K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5928	+0.051%	$47K	$102K	3x	as long as short
Nado PONS-PERPlong	+0.0520%	1h	0.5925	long leg	$90K	$103K	5x
Hyperliquid PONS	+0.0744%	1h	0.5922	−0.042%	$59.3M	$29.7M	3x	as long as short
Lighter PONS	+0.1016%	1h	0.5927	+0.032%	$1.7M	$879K	3x	as long as short
Phoenix PONS	+0.1232%	1h	0.5931	+0.113%	$27K	$86K	3x	as long as short