Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0602%/8h= +65.9% APRpaid last 24h +0.014%

Price spread now: KuCoin against Nado+0.051%7-day average −0.020% · 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−$153as in the Price arb table

costs, in and out, $10k−$1601.602% of the position

Long on Nado Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.081%+$8 on $10k

Price spread, last 4 days (all we have)−0.212%−$21 · spread now +0.051%, 7d avg −0.020%

Together, before fees−0.131%+ Points / potential airdropNado: Active · farm board−$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and KuCoin is 0.072% dearer against Nado than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.020%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.081% in total (about 8.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado PONS-PERP	0.6036	0.0100	pay 0.0012% / 1h	52m 12s	$71K	$129K	5x
Short	KuCoin PONSUSDTM	0.6039	0.0702	get 0.0351% / 4h	3h 52m	$1.6M	$3.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.051%Rate

Funding earned: $126.42
Price spread: +0.051% → −0.020%: $7.18
Slippage, 4 orders: −$148.2
Fee Nado: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$26.6
Costs to cover: 1.602%
Break-even: 8.5 days

Slippage from Nado: live order book, 56 min ago; KuCoin: live order book, 5 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, 56 min ago	17.02 bp	49.7 bp −$50	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	2.75 bp	29.3 bp −$29	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	0.6025	−0.175%	$239K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.102%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6038	+0.033%	$21K	$435K	20x	as long as short
Nado PONS-PERPlong	+0.0100%	1h	0.6036	long leg	$71K	$129K	5x
ApeX Omni PONSUSDT	+0.0100%	1h	0.6037	+0.012%	$35K	$345K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6031	−0.076%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6035	−0.013%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6023	−0.215%	$26K	$538K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6018	−0.292%	$65K	$513K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6021	−0.249%	$1.7M	$3.2M	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PONS-PERP	+0.0232%	1h	0.6025	−0.176%	$375	—	3x	as long as short
Variational Omni PONS	+0.0298%	4h	0.6012	−0.398%	$1.4M	$3.9M	—	as long as short
OKX PONS-USDT-SWAP	+0.0336%	4h	0.6024	−0.199%	$13.7M	$55.6M	20x	as long as short
Aster PONSUSDT	+0.0485%	4h	0.6039	+0.050%	$1.1M	$2.1M	20x	as long as short
Bitget PONSUSDT	+0.0506%	4h	0.6026	−0.171%	$4.6M	$11.6M	20x	as long as short
Lighter PONS	+0.0568%	1h	0.6026	−0.166%	$1.7M	$891K	3x	as long as short
BingX PONS-USDT	+0.0572%	4h	0.6037	+0.017%	—	$3.0M	—	as long as short
edgeX PONSUSDC	+0.0607%	4h	0.6042	+0.103%	$18K	$292K	10x	as long as short
MEXC PONS_USDT	+0.0612%	4h	0.6038	+0.033%	$7.6M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0614%	4h	0.6022	−0.232%	$39.4M	$95.5M	20x	as long as short
Extended PONS-USD	+0.0616%	1h	0.6030	−0.105%	$108K	$813K	5x	as long as short
Lighter RH PONS	+0.0688%	1h	0.6025	−0.177%	$419K	$2.5M	3x	as long as short
KuCoin PONSUSDTMshort	+0.0702%	4h	0.6039	+0.051%	$1.6M	$3.8M	20x
Hyperliquid PONS	+0.0721%	1h	0.6036	−0.002%	$61.7M	$28.3M	3x	as long as short
Polymarket Perps PONS-USD	+0.0847%	1h	0.6036	+0.007%	$73K	$1.6M	3x	as long as short
BloFin PONS-USDT	+0.0854%	4h	0.6052	+0.265%	$1.8M	$964K	20x	as long as short
Pacifica PONS	+0.1081%	1h	0.6030	−0.106%	$47K	$67K	3x	as long as short
Bybit PONSUSDT	+0.1085%	4h	0.6020	−0.265%	$18.0M	$30.9M	20x	as long as short
Gate PONS_USDT	+0.1108%	4h	0.6031	−0.083%	$5.3M	$6.1M	20x	as long as short
Phoenix PONS	+0.1586%	1h	0.6036	−0.008%	$40K	$109K	3x	as long as short