Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0109%/8h= +12.0% APRpaid last 24h +0.020%

Price spread now: Nado against OKX+0.090%7-day average +0.028% · 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−$123as in the Price arb table

costs, in and out, $10k−$1301.298% of the position

Long on OKX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.071%−$7 on $10k

Price spread, last 3 days (all we have)+0.013%+$1 · spread now +0.090%, 7d avg +0.028%

Together, before fees−0.058%+ Points / potential airdropNado: Active · farm board−$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Nado is 0.063% dearer against OKX than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.028%. Mind the row above: over the last 3 days funding on this pair cost −0.071%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PONS-USDT-SWAP	0.5984	0.0100	pay 0.0050% / 4h	1h 09m	$13.5M	$56.3M	20x
Short	Nado PONS-PERP	0.5989	0.0209	get 0.0026% / 1h	9m 57s	$91K	$103K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against OKX. 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 OKXbpFee NadobpOrdersPrice spread, now +0.090%Rate

Funding earned: $22.92
Price spread: +0.090% → +0.028%: $6.27
Slippage, 4 orders: −$119.76
Fee OKX: 5 bp × 2 orders: −$10
Fee Nado: 0 bp × 2 orders: $0
Net: −$100.57
Costs to cover: 1.298%
Break-even: 37.7 days

Slippage from OKX: live order book, 4 min ago; Nado: live order book, 64 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 OKX live order book, 4 min ago	1.67 bp	13.5 bp −$13	33.3 bp −$333	doesn't fit	doesn't fit
Sell Nado live order book, 64 min ago	16.14 bp	53.0 bp −$53	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 −0.0036%	1h	0.5973	−0.178%	$224K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.242%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5988	+0.067%	$21K	$439K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5982	−0.033%	$17.9M	$31.5M	20x	as long as short
OKX PONS-USDT-SWAPlong	+0.0100%	4h	0.5984	long leg	$13.5M	$56.3M	20x
KuCoin PONSUSDTM	+0.0100%	4h	0.5985	+0.017%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5986	+0.028%	$4.7M	$11.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5976	−0.130%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5991	+0.125%	$35K	$352K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5990	+0.094%	$3K	$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	0.5983	−0.023%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5982	−0.025%	$27K	$545K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6002	+0.306%	$64K	$506K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5979	−0.084%	$1.7M	$3.3M	20x	as long as short
Aster PONSUSDT	+0.0124%	4h	0.5984	−0.003%	$1.1M	$2.2M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5983	−0.010%	$373	—	3x	as long as short
Extended PONS-USD	+0.0176%	1h	0.5986	+0.025%	$248K	$667K	5x	as long as short
Binance PONSUSDT	+0.0176%	4h	0.5986	+0.041%	$38.9M	$97.8M	20x	as long as short
MEXC PONS_USDT	+0.0180%	4h	0.5986	+0.033%	$7.8M	$4.9M	20x	as long as short
edgeX PONSUSDC	+0.0180%	4h	0.5985	+0.015%	$21K	$292K	10x	as long as short
BingX PONS-USDT	+0.0182%	4h	0.5985	+0.017%	—	$3.1M	—	as long as short
Nado PONS-PERPshort	+0.0209%	1h	0.5989	+0.090%	$91K	$103K	5x
Lighter RH PONS	+0.0256%	1h	0.5983	−0.015%	$422K	$2.7M	3x	as long as short
BloFin PONS-USDT	+0.0421%	4h	0.5979	−0.084%	$1.7M	$978K	20x	as long as short
Pacifica PONS	+0.0451%	1h	0.5988	+0.065%	$47K	$96K	3x	as long as short
Polymarket Perps PONS-USD	+0.0481%	1h	0.5986	+0.033%	$37K	$1.7M	3x	as long as short
Lighter PONS	+0.0608%	1h	0.5983	−0.012%	$1.7M	$1.0M	3x	as long as short
Hyperliquid PONS	+0.0680%	1h	0.5989	+0.082%	$60.6M	$30.2M	3x	as long as short
Phoenix PONS	+0.1398%	1h	0.5981	−0.050%	$30K	$96K	3x	as long as short
Gate PONS_USDT	+0.1496%	4h	0.5984	0.000%	$5.2M	$6.5M	20x	as long as short