Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0185%/8h= −20.3% APRpaid last 24h +0.006%

Price spread now: Variational Omni against Nado+0.301%7-day average — · you sell dearer than you buy

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

Long on Nado Short on Variational Omni

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 · Variational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.301% dearer against Nado than usual: you sell high and buy low (spread +0.301% now, against zero (this spread has no 7-day history yet)): +$30 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 5.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado PONS-PERP	0.5884	0.0285	pay 0.0036% / 1h	49m 17s	$89K	$103K	5x
Short	Variational Omni PONS	0.5902	0.0100	get 0.0050% / 4h	2h 49m	$1.4M	$4.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.301%Rate

Funding earned: −$38.93
Price spread: +0.301% → 0.000%: $30.07
Slippage, 4 orders: no order book: not counted
Fee Nado: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$8.86
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Nado: live order book, 29 min ago; Variational Omni: RFQ quote, 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, 29 min ago	19.48 bp	46.9 bp −$47	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 5 min ago	4.24 bp	doesn't fit	34.7 bp −$347	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	0.5880	−0.073%	$216K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+0.608%	$609	$6K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5886	+0.028%	$396K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5882	−0.031%	$21K	$456K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5882	−0.031%	$17.8M	$31.6M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5881	−0.048%	$13.5M	$55.7M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5883	−0.021%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5883	−0.009%	$4.6M	$11.6M	20x	as long as short
Variational Omni PONSshort	+0.0100%	4h	0.5902	+0.301%	$1.4M	$4.3M	—
ApeX Omni PONSUSDT	+0.0100%	1h	0.5913	+0.499%	$34K	$327K	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5892	+0.137%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.5896	+0.200%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5881	−0.047%	$27K	$534K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5893	+0.161%	$64K	$504K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5883	−0.014%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0120%	1h	0.5885	+0.020%	$367	—	3x	as long as short
Binance PONSUSDT	+0.0164%	4h	0.5883	−0.016%	$38.3M	$98.1M	20x	as long as short
MEXC PONS_USDT	+0.0166%	4h	0.5882	−0.031%	$7.6M	$5.1M	20x	as long as short
Extended PONS-USD	+0.0168%	1h	0.5883	−0.018%	$105K	$531K	5x	as long as short
BingX PONS-USDT	+0.0176%	4h	0.5884	+0.003%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0189%	4h	0.5914	+0.504%	$21K	$293K	10x	as long as short
Aster PONSUSDT	+0.0221%	4h	0.5888	+0.067%	$1.1M	$2.2M	20x	as long as short
Nado PONS-PERPlong	+0.0285%	1h	0.5884	long leg	$89K	$103K	5x
Polymarket Perps PONS-USD	+0.0341%	1h	0.5882	−0.024%	$38K	$1.8M	3x	as long as short
BloFin PONS-USDT	+0.0404%	4h	0.5886	+0.037%	$1.7M	$964K	20x	as long as short
Gate PONS_USDT	+0.0424%	4h	0.5880	−0.065%	$5.1M	$6.7M	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5887	+0.057%	$47K	$102K	3x	as long as short
Hyperliquid PONS	+0.0683%	1h	0.5883	−0.007%	$58.8M	$29.8M	3x	as long as short
Lighter PONS	+0.0760%	1h	0.5888	+0.071%	$1.7M	$879K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5909	+0.436%	$27K	$86K	3x	as long as short