Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0014%/8h= +1.5% APRpaid last 24h +0.095%

Price spread now: KuCoin against Popdex+0.266%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−$206as in the Price arb table

costs, in and out, $10k−$2352.354% of the position

Long on Popdex Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.249%+$25 on $10k

Price spread, last 4 days (all we have)−0.316%−$32 · spread now +0.266%, 7d avg −0.028%

Together, before fees−0.067%−$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and KuCoin is 0.294% dearer against Popdex than usual: you sell high and buy low: +$29 more if the spread goes back to its 7-day average of −0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex PONSUSDT	0.6131	0.0096	pay 0.0012% / 1h	47m 37s	$20K	$460K	20x
Short	KuCoin PONSUSDTM	0.6147	0.0110	get 0.0055% / 4h	47m 37s	$1.8M	$3.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.266%Rate

Funding earned: $2.94
Price spread: +0.266% → −0.028%: $29.37
Slippage, 4 orders: −$217.03
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$203.12
Costs to cover: 2.354%
Break-even: 490.6 days

Slippage from Popdex: live order book, 31 min ago; KuCoin: 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, 31 min ago	10.77 bp	85.9 bp −$86	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 10 min ago	3.03 bp	36.8 bp −$37	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
Injective PONS/USDC PERP	−0.0047%	1h	0.5969	−2.634%	$614	$10K	5.5x	as long as short
gTrade (Gains Network) PONS/USD	L +0.0033% / S −0.0036%	1h	0.6145	+0.227%	$231K	—	150x	as long as short
Popdex PONSUSDTlong	+0.0096%	1h	0.6131	long leg	$20K	$460K	20x
Nado PONS-PERP	+0.0100%	1h	0.6153	+0.363%	$87K	$107K	5x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.6135	+0.065%	$18.5M	$31.9M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.6134	+0.049%	$14.0M	$58.6M	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6139	+0.126%	$1.4M	$4.3M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6159	+0.452%	$33K	$360K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6158	+0.447%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6158	+0.444%	—	$1.4M	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX PONS-USD	+0.0100%	1h	0.6152	+0.343%	$28K	$551K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6177	+0.757%	$66K	$509K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6147	+0.261%	$1.7M	$3.3M	20x	as long as short
KuCoin PONSUSDTMshort	+0.0110%	4h	0.6147	+0.266%	$1.8M	$3.7M	20x
Bitget PONSUSDT	+0.0118%	4h	0.6139	+0.130%	$4.8M	$11.7M	20x	as long as short
Aevo PONS-PERP	+0.0152%	1h	0.6150	+0.304%	$383	—	3x	as long as short
Aster PONSUSDT	+0.0211%	4h	0.6144	+0.217%	$1.1M	$2.2M	20x	as long as short
MEXC PONS_USDT	+0.0300%	4h	0.6145	+0.228%	$8.1M	$4.8M	20x	as long as short
edgeX PONSUSDC	+0.0302%	4h	0.6149	+0.296%	$21K	$293K	10x	as long as short
BingX PONS-USDT	+0.0302%	4h	0.6135	+0.065%	—	$3.1M	—	as long as short
Binance PONSUSDT	+0.0304%	4h	0.6138	+0.114%	$40.0M	$99.3M	20x	as long as short
Extended PONS-USD	+0.0304%	1h	0.6137	+0.096%	$254K	$682K	5x	as long as short
Lighter RH PONS	+0.0408%	1h	0.6148	+0.277%	$432K	$2.6M	3x	as long as short
Lighter PONS	+0.0464%	1h	0.6149	+0.297%	$1.7M	$921K	3x	as long as short
BloFin PONS-USDT	+0.0541%	4h	0.6158	+0.440%	$1.7M	$1.0M	20x	as long as short
Polymarket Perps PONS-USD	+0.0723%	1h	0.6157	+0.427%	$42K	$1.7M	3x	as long as short
Pacifica PONS	+0.0899%	1h	0.6144	+0.216%	$48K	$96K	3x	as long as short
Hyperliquid PONS	+0.1008%	1h	0.6149	+0.300%	$62.5M	$30.7M	3x	as long as short
Phoenix PONS	+0.1307%	1h	0.6150	+0.318%	$31K	$102K	3x	as long as short
Gate PONS_USDT	+0.2072%	4h	0.6137	+0.098%	$5.4M	$6.2M	20x	as long as short