Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0127%/8h= −14.0% APRpaid last 24h −0.065%

Price spread now: SunX against Nado+0.536%48s7-day average +0.050% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Nado Short on SunX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.164%−$16 on $10k

Price spread, last 4 days (all we have)+0.555%+$56 · spread now +0.536%, 7d avg +0.050%

Together, before fees+0.391%+ Points / potential airdropNado: Active · farm board+$39 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.486% dearer against Nado than usual: you sell high and buy low (spread +0.536% now, against its 7-day average of +0.050%): +$49 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 13 days. The two prices were read 48 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	0.5951	0.0227	pay 0.0028% / 1h	38m 37s	$70K	$129K	5x
Short	SunX PONS-USDT	0.5983	0.0100	get 0.0050% / 4h	1h 38m	—	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.536%Rate

Funding earned: −$26.77
Price spread: +0.536% → +0.050%: $48.6
Slippage, 4 orders: no order book: not counted
Fee Nado: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: $13.83
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Nado: live order book, 15 min ago; SunX: live order book, 5 min ago. Net counts fees only.

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, 15 min ago	17.50 bp	41.9 bp −$42	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 5 min ago	104.62 bp	124.7 bp −$125	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 −0.0033%	1h	0.5980	+0.499%	$237K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+0.315%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5951	+0.005%	$20K	$424K	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5998	+0.799%	$33K	$351K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5994	+0.719%	$2K	$3K	10x	as long as short
SunX PONS-USDTshort	+0.0100%	4h	0.5983	+0.536%	—	$1.3M	10x
SoDEX PONS-USD	+0.0100%	1h	0.5986	+0.593%	$26K	$517K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5987	+0.616%	$64K	$507K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5987	+0.610%	$1.6M	$3.2M	20x	as long as short
Variational Omni PONS	+0.0106%	4h	0.5978	+0.464%	$1.4M	$3.9M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH PONS	+0.0184%	1h	0.5971	+0.336%	$419K	$2.5M	3x	as long as short
Aevo PONS-PERP	+0.0200%	1h	0.5979	+0.470%	$372	—	3x	as long as short
Nado PONS-PERPlong	+0.0227%	1h	0.5951	long leg	$70K	$129K	5x
Lighter PONS	+0.0272%	1h	0.5974	+0.391%	$1.6M	$875K	3x	as long as short
OKX PONS-USDT-SWAP	+0.0285%	4h	0.5948	−0.046%	$13.6M	$53.8M	20x	as long as short
KuCoin PONSUSDTM	+0.0346%	4h	0.5974	+0.398%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0390%	4h	0.5980	+0.485%	$4.7M	$11.3M	20x	as long as short
Gate PONS_USDT	+0.0400%	4h	0.5974	+0.391%	$5.2M	$6.2M	20x	as long as short
Aster PONSUSDT	+0.0416%	4h	0.5971	+0.333%	$1.1M	$2.1M	20x	as long as short
Extended PONS-USD	+0.0472%	1h	0.5976	+0.431%	$248K	$670K	5x	as long as short
Binance PONSUSDT	+0.0474%	4h	0.5961	+0.181%	$39.0M	$93.8M	20x	as long as short
MEXC PONS_USDT	+0.0474%	4h	0.5977	+0.442%	$7.6M	$4.7M	20x	as long as short
BingX PONS-USDT	+0.0480%	4h	0.5977	+0.442%	—	$3.0M	—	as long as short
edgeX PONSUSDC	+0.0493%	4h	0.5986	+0.590%	$18K	$292K	10x	as long as short
Bybit PONSUSDT	+0.0498%	4h	0.5948	−0.046%	$17.8M	$30.3M	20x	as long as short
BloFin PONS-USDT	+0.0714%	4h	0.5993	+0.710%	$1.7M	$954K	20x	as long as short
Hyperliquid PONS	+0.0723%	1h	0.5974	+0.394%	$60.9M	$27.7M	3x	as long as short
Pacifica PONS	+0.0755%	1h	0.5977	+0.436%	$47K	$72K	3x	as long as short
Polymarket Perps PONS-USD	+0.0809%	1h	0.5985	+0.583%	$49K	$1.6M	3x	as long as short
Phoenix PONS	+0.1639%	1h	0.6004	+0.895%	$31K	$98K	3x	as long as short