Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0507%/8h= +55.5% APRpaid last 24h +0.085%

Price spread now: Binance against Popdex+0.017%7-day average −0.008% · 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−$227as in the Price arb table

costs, in and out, $10k−$2292.293% of the position

Long on Popdex Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.309%+$31 on $10k

Price spread, last 4 days (all we have)+0.048%+$5 · spread now +0.017%, 7d avg −0.008%

Together, before fees+0.357%+$36 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Binance is 0.025% dearer against Popdex than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex PONSUSDT	0.6011	0.0096	pay 0.0012% / 1h	2m 59s	$21K	$435K	20x
Short	Binance PONSUSDT	0.6012	0.0603	get 0.0301% / 4h	2m 59s	$39.3M	$95.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Popdex. 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 PopdexbpFee BinancebpOrdersPrice spread, now +0.017%Rate

Funding earned: $106.42
Price spread: +0.017% → −0.008%: $2.51
Slippage, 4 orders: −$212.93
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Binance: 5 bp × 2 orders: −$10
Net: −$120.4
Costs to cover: 2.293%
Break-even: 14.9 days

Slippage from Popdex: live order book, 56 min ago; Binance: live order book, 10 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 Popdex live order book, 56 min ago	8.41 bp	109.9 bp −$110	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 10 min ago	1.65 bp	16.6 bp −$17	58.0 bp −$580	275.6 bp −$27.6K	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 −0.0032%	1h	0.5999	−0.193%	$238K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.690%	$614	$10K	5.5x	as long as short
Popdex PONSUSDTlong	+0.0096%	1h	0.6011	long leg	$21K	$435K	20x
ApeX Omni PONSUSDT	+0.0100%	1h	0.6016	+0.085%	$35K	$345K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6014	+0.045%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6011	+0.008%	—	$1.3M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.6011	+0.007%	$26K	$536K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6021	+0.173%	$65K	$513K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6013	+0.033%	$1.7M	$3.2M	20x	as long as short
Aevo PONS-PERP	+0.0232%	1h	0.5999	−0.196%	$374	—	3x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni PONS	+0.0283%	4h	0.6009	−0.026%	$1.4M	$3.9M	—	as long as short
Nado PONS-PERP	+0.0303%	1h	0.6008	−0.050%	$70K	$129K	5x	as long as short
OKX PONS-USDT-SWAP	+0.0322%	4h	0.6009	−0.033%	$13.6M	$55.3M	20x	as long as short
Lighter PONS	+0.0368%	1h	0.6010	−0.008%	$1.6M	$897K	3x	as long as short
Aster PONSUSDT	+0.0446%	4h	0.6009	−0.028%	$1.1M	$2.1M	20x	as long as short
Lighter RH PONS	+0.0456%	1h	0.6010	−0.008%	$421K	$2.6M	3x	as long as short
Bitget PONSUSDT	+0.0490%	4h	0.6017	+0.095%	$4.6M	$11.5M	20x	as long as short
Bybit PONSUSDT	+0.0498%	4h	0.6009	−0.033%	$17.9M	$30.9M	20x	as long as short
Gate PONS_USDT	+0.0500%	4h	0.6004	−0.116%	$5.2M	$6.4M	20x	as long as short
BingX PONS-USDT	+0.0574%	4h	0.6014	+0.050%	—	$3.0M	—	as long as short
MEXC PONS_USDT	+0.0598%	4h	0.6012	+0.017%	$7.5M	$4.8M	20x	as long as short
Extended PONS-USD	+0.0600%	1h	0.6010	−0.011%	$108K	$813K	5x	as long as short
edgeX PONSUSDC	+0.0602%	4h	0.6004	−0.117%	$18K	$293K	10x	as long as short
Binance PONSUSDTshort	+0.0603%	4h	0.6012	+0.017%	$39.3M	$95.3M	20x
KuCoin PONSUSDTM	+0.0696%	4h	0.6010	−0.015%	$1.6M	$3.8M	20x	as long as short
Hyperliquid PONS	+0.0818%	1h	0.6012	+0.015%	$61.4M	$28.4M	3x	as long as short
BloFin PONS-USDT	+0.0843%	4h	0.6010	−0.017%	$1.8M	$958K	20x	as long as short
Pacifica PONS	+0.0859%	1h	0.6010	−0.024%	$47K	$67K	3x	as long as short
Polymarket Perps PONS-USD	+0.0862%	1h	0.6010	−0.017%	$71K	$1.6M	3x	as long as short
Phoenix PONS	+0.1736%	1h	0.6012	+0.018%	$34K	$104K	3x	as long as short