Funding arb · Price arb /

PONS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0008%/8h= −0.9% APRpaid last 24h −0.025%

Price spread now: OKX against Nado−0.049%49s7-day average −0.027% · 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—prices read too far apart to compare

costs, in and out, $10k−$1231.231% of the position

Long on Nado Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.073%+$7 on $10k

Price spread, last 3 days (all we have)−0.167%−$17 · spread now −0.049%, 7d avg −0.027%

Together, before fees−0.095%+ Points / potential airdropNado: Active · farm board−$9 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.022% cheaper against Nado than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.027%. The two prices were read 49 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	0.5910	0.0108	pay 0.0014% / 1h	27m 40s	$89K	$103K	5x
Short	OKX PONS-USDT-SWAP	0.5907	0.0100	get 0.0050% / 4h	2h 27m	$13.4M	$56.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.049%Rate

Funding earned: −$1.72
Price spread: −0.049% → −0.027%: −$2.19
Slippage, 4 orders: −$113.11
Fee Nado: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$127.02
Costs to cover: 1.231%
Break-even: never at this rate

Slippage from Nado: live order book, 51 min ago; OKX: live order book, 1 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, 51 min ago	19.48 bp	46.9 bp −$47	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	0.85 bp	13.7 bp −$14	33.5 bp −$335	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	0.5895	−0.245%	$216K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+0.164%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5907	−0.049%	$21K	$447K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5905	−0.083%	$17.7M	$31.9M	20x	as long as short
OKX PONS-USDT-SWAPshort	+0.0100%	4h	0.5907	−0.049%	$13.4M	$56.2M	20x
KuCoin PONSUSDTM	+0.0100%	4h	0.5908	−0.031%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5910	+0.008%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5903	−0.113%	$1.3M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5903	−0.120%	$34K	$332K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5907	−0.047%	$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	0.5908	−0.029%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5902	−0.127%	$27K	$549K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5919	+0.152%	$64K	$504K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5901	−0.151%	$1.7M	$3.3M	20x	as long as short
Nado PONS-PERPlong	+0.0108%	1h	0.5910	long leg	$89K	$103K	5x
Aevo PONS-PERP	+0.0128%	1h	0.5907	−0.044%	$368	—	3x	as long as short
BingX PONS-USDT	+0.0182%	4h	0.5906	−0.066%	—	$3.1M	—	as long as short
Extended PONS-USD	+0.0184%	1h	0.5908	−0.029%	$105K	$533K	5x	as long as short
MEXC PONS_USDT	+0.0184%	4h	0.5908	−0.032%	$7.5M	$5.2M	20x	as long as short
Binance PONSUSDT	+0.0184%	4h	0.5910	+0.002%	$38.4M	$98.4M	20x	as long as short
edgeX PONSUSDC	+0.0187%	4h	0.5907	−0.056%	$21K	$294K	10x	as long as short
Aster PONSUSDT	+0.0217%	4h	0.5909	−0.010%	$1.1M	$2.2M	20x	as long as short
Polymarket Perps PONS-USD	+0.0337%	1h	0.5908	−0.034%	$38K	$1.8M	3x	as long as short
BloFin PONS-USDT	+0.0421%	4h	0.5912	+0.035%	$1.7M	$970K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5909	−0.021%	$47K	$103K	3x	as long as short
Gate PONS_USDT	+0.0498%	4h	0.5905	−0.083%	$5.2M	$6.8M	20x	as long as short
Hyperliquid PONS	+0.0522%	1h	0.5908	−0.029%	$59.1M	$30.1M	3x	as long as short
Lighter RH PONS	+0.0640%	1h	0.5910	+0.010%	$395K	$2.6M	3x	as long as short
Lighter PONS	+0.1120%	1h	0.5913	+0.057%	$1.7M	$882K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5899	−0.185%	$27K	$86K	3x	as long as short