Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0122%/8h= +13.4% APRpaid last 24h +0.076%

Price spread now: Nado against Phemex+0.017%7-day average −0.011% · 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−$173as in the Price arb table

costs, in and out, $10k−$1761.761% of the position

Long on Phemex Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.137%+$14 on $10k

Price spread, last 3 days (all we have)−0.231%−$23 · spread now +0.017%, 7d avg −0.011%

Together, before fees−0.094%+ Points / potential airdropNado: Active · farm board−$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Nado is 0.027% dearer against Phemex than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex PONSUSDT	0.5942	0.0100	pay 0.0050% / 4h	1h 33m	$1.6M	$3.3M	20x
Short	Nado PONS-PERP	0.5943	0.0222	get 0.0028% / 1h	33m 21s	$90K	$103K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Phemex. 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 PhemexbpFee NadobpOrdersPrice spread, now +0.017%Rate

Funding earned: $25.66
Price spread: +0.017% → −0.011%: $2.74
Slippage, 4 orders: −$164.05
Fee Phemex: 6 bp × 2 orders: −$12
Fee Nado: 0 bp × 2 orders: $0
Net: −$147.66
Costs to cover: 1.761%
Break-even: 47.3 days

Slippage from Phemex: live order book, 5 min ago; Nado: live order book, 40 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 Phemex live order book, 5 min ago	5.85 bp	39.6 bp −$40	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 40 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 −0.0034%	1h	0.5940	−0.031%	$218K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	+0.463%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5943	+0.017%	$17K	$438K	20x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5939	−0.050%	$17.7M	$31.6M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5938	−0.067%	$13.4M	$55.9M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5944	+0.039%	$1.8M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5944	+0.040%	$4.7M	$11.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.5955	+0.224%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5946	+0.067%	$34K	$346K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5944	+0.034%	$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	0.5941	−0.020%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5946	+0.074%	$27K	$548K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5955	+0.210%	$64K	$506K	20x	as long as short
Phemex PONSUSDTlong	+0.0100%	4h	0.5942	long leg	$1.6M	$3.3M	20x
Aevo PONS-PERP	+0.0128%	1h	0.5940	−0.035%	$370	—	3x	as long as short
Aster PONSUSDT	+0.0132%	4h	0.5945	+0.050%	$1.1M	$2.2M	20x	as long as short
Extended PONS-USD	+0.0168%	1h	0.5946	+0.066%	$247K	$667K	5x	as long as short
MEXC PONS_USDT	+0.0168%	4h	0.5944	+0.034%	$7.7M	$4.9M	20x	as long as short
Binance PONSUSDT	+0.0169%	4h	0.5938	−0.061%	$38.6M	$97.7M	20x	as long as short
edgeX PONSUSDC	+0.0179%	4h	0.5947	+0.083%	$21K	$293K	10x	as long as short
BingX PONS-USDT	+0.0188%	4h	0.5938	−0.067%	—	$3.1M	—	as long as short
Nado PONS-PERPshort	+0.0222%	1h	0.5943	+0.017%	$90K	$103K	5x
Lighter RH PONS	+0.0352%	1h	0.5948	+0.109%	$418K	$2.7M	3x	as long as short
BloFin PONS-USDT	+0.0414%	4h	0.5948	+0.101%	$1.7M	$977K	20x	as long as short
Pacifica PONS	+0.0451%	1h	0.5945	+0.049%	$47K	$96K	3x	as long as short
Polymarket Perps PONS-USD	+0.0475%	1h	0.5944	+0.030%	$37K	$1.7M	3x	as long as short
Hyperliquid PONS	+0.0631%	1h	0.5949	+0.114%	$60.0M	$30.0M	3x	as long as short
Lighter PONS	+0.0760%	1h	0.5951	+0.145%	$1.7M	$995K	3x	as long as short
Gate PONS_USDT	+0.1286%	4h	0.5944	+0.034%	$5.2M	$6.5M	20x	as long as short
Phoenix PONS	+0.1398%	1h	0.5976	+0.567%	$30K	$96K	3x	as long as short