Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0500%/8h= +54.8% APRpaid last 24h +0.020%

Price spread now: MEXC against Nado+0.116%7-day average +0.001% · 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−$92as in the Price arb table

costs, in and out, $10k−$1031.033% of the position

Long on Nado Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.133%+$13 on $10k

Price spread, last 4 days (all we have)−0.299%−$30 · spread now +0.116%, 7d avg +0.001%

Together, before fees−0.166%+ Points / potential airdropNado: Active · farm board−$17 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and MEXC is 0.115% dearer against Nado than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.001%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.133% in total (about 14.4% 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	0.6033	0.0100	pay 0.0012% / 1h	55m 24s	$71K	$129K	5x
Short	MEXC PONS_USDT	0.6040	0.0600	get 0.0300% / 4h	3h 55m	$7.6M	$4.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.116%Rate

Funding earned: $105
Price spread: +0.116% → +0.001%: $11.52
Slippage, 4 orders: −$103.33
Fee Nado: 0 bp × 2 orders: $0
Fee MEXC: 0 bp × 2 orders: $0
Net: $13.19
Costs to cover: 1.033%
Break-even: 6.1 days

Slippage from Nado: live order book, 53 min ago; MEXC: 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, 53 min ago	17.02 bp	49.7 bp −$50	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	0.83 bp	3.1 bp −$3	11.3 bp −$113	371.1 bp −$37.1K	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	0.6032	−0.023%	$240K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.052%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6039	+0.100%	$21K	$435K	20x	as long as short
Nado PONS-PERPlong	+0.0100%	1h	0.6033	long leg	$71K	$129K	5x
ApeX Omni PONSUSDT	+0.0100%	1h	0.6018	−0.242%	$35K	$345K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6038	+0.082%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6006	−0.444%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6012	−0.341%	$26K	$538K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6015	−0.306%	$65K	$512K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6013	−0.331%	$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	0.6036	+0.045%	$376	—	3x	as long as short
Variational Omni PONS	+0.0298%	4h	0.6012	−0.349%	$1.4M	$3.9M	—	as long as short
OKX PONS-USDT-SWAP	+0.0327%	4h	0.6043	+0.166%	$13.7M	$55.7M	20x	as long as short
Lighter RH PONS	+0.0384%	1h	0.6029	−0.058%	$413K	$2.5M	3x	as long as short
Lighter PONS	+0.0432%	1h	0.6031	−0.034%	$1.7M	$890K	3x	as long as short
Aster PONSUSDT	+0.0450%	4h	0.6032	−0.014%	$1.1M	$2.1M	20x	as long as short
Bitget PONSUSDT	+0.0498%	4h	0.6046	+0.216%	$4.6M	$11.5M	20x	as long as short
Bybit PONSUSDT	+0.0564%	4h	0.6042	+0.150%	$18.1M	$30.9M	20x	as long as short
BingX PONS-USDT	+0.0572%	4h	0.6048	+0.249%	—	$3.0M	—	as long as short
edgeX PONSUSDC	+0.0597%	4h	0.6009	−0.400%	$18K	$292K	10x	as long as short
Extended PONS-USD	+0.0600%	1h	0.6035	+0.026%	$108K	$813K	5x	as long as short
MEXC PONS_USDTshort	+0.0600%	4h	0.6040	+0.116%	$7.6M	$4.7M	20x
Binance PONSUSDT	+0.0601%	4h	0.6044	+0.185%	$39.6M	$95.3M	20x	as long as short
Gate PONS_USDT	+0.0690%	4h	0.6025	−0.132%	$5.2M	$6.1M	20x	as long as short
KuCoin PONSUSDTM	+0.0694%	4h	0.6037	+0.073%	$1.6M	$3.8M	20x	as long as short
Hyperliquid PONS	+0.0763%	1h	0.6043	+0.163%	$61.8M	$28.5M	3x	as long as short
BloFin PONS-USDT	+0.0837%	4h	0.6010	−0.381%	$1.7M	$957K	20x	as long as short
Polymarket Perps PONS-USD	+0.0872%	1h	0.6041	+0.126%	$73K	$1.6M	3x	as long as short
Pacifica PONS	+0.1081%	1h	0.6034	+0.012%	$48K	$67K	3x	as long as short
Phoenix PONS	+0.1736%	1h	0.6005	−0.457%	$38K	$109K	3x	as long as short