Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: SunX against Popdex+0.130%7-day average +0.032% · you sell dearer than you buy

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

Long on Popdex Short on SunX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.385%+$39 · spread now +0.130%, 7d avg +0.032%

Together, before fees+0.388%+$39 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SunX is 0.098% dearer against Popdex than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex PONSUSDT	0.6006	0.0096	pay 0.0012% / 1h	57m 24s	$21K	$435K	20x
Short	SunX PONS-USDT	0.6014	0.0100	get 0.0050% / 4h	3h 57m	—	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.130%Rate

Funding earned: $0.84
Price spread: +0.130% → +0.032%: $9.77
Slippage, 4 orders: no order book: not counted
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee SunX: 4 bp × 2 orders: −$8
Net: −$3.79
Costs to cover: 0.144%
Break-even: 38.6 days

Slippage unknown: Popdex: live order book, 61 min ago; SunX: live order book, 6 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 Popdex live order book, 61 min ago	8.41 bp	109.9 bp −$110	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 6 min ago	105.13 bp	125.6 bp −$126	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 −0.0032%	1h	0.5994	−0.194%	$238K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−0.608%	$614	$10K	5.5x	as long as short
Popdex PONSUSDTlong	+0.0096%	1h	0.6006	long leg	$21K	$435K	20x
Nado PONS-PERP	+0.0100%	1h	0.6008	+0.033%	$70K	$129K	5x	as long as short
Gate PONS_USDT	+0.0100%	4h	0.6000	−0.100%	$5.2M	$6.1M	20x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6023	+0.278%	$35K	$345K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6009	+0.057%	$2K	$3K	10x	as long as short
SunX PONS-USDTshort	+0.0100%	4h	0.6014	+0.130%	—	$1.3M	10x
SoDEX PONS-USD	+0.0100%	1h	0.6003	−0.048%	$26K	$538K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.6016	+0.162%	$65K	$512K	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex PONSUSDT	+0.0100%	4h	0.6014	+0.133%	$1.7M	$3.2M	20x	as long as short
Bybit PONSUSDT	+0.0189%	4h	0.6001	−0.083%	$17.9M	$30.9M	20x	as long as short
Lighter PONS	+0.0192%	1h	0.6013	+0.117%	$1.6M	$890K	3x	as long as short
Lighter RH PONS	+0.0216%	1h	0.6012	+0.108%	$412K	$2.5M	3x	as long as short
Aevo PONS-PERP	+0.0232%	1h	0.6006	0.000%	$374	—	3x	as long as short
Variational Omni PONS	+0.0303%	4h	0.6008	+0.032%	$1.4M	$3.9M	—	as long as short
OKX PONS-USDT-SWAP	+0.0323%	4h	0.6000	−0.100%	$13.6M	$55.3M	20x	as long as short
Aster PONSUSDT	+0.0446%	4h	0.6007	+0.019%	$1.1M	$2.1M	20x	as long as short
Bitget PONSUSDT	+0.0492%	4h	0.6003	−0.047%	$4.6M	$11.5M	20x	as long as short
BingX PONS-USDT	+0.0572%	4h	0.6005	−0.017%	—	$3.0M	—	as long as short
Hyperliquid PONS	+0.0595%	1h	0.6004	−0.036%	$61.4M	$28.5M	3x	as long as short
MEXC PONS_USDT	+0.0596%	4h	0.6005	−0.017%	$7.5M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0597%	4h	0.6004	−0.033%	$39.3M	$95.4M	20x	as long as short
Extended PONS-USD	+0.0600%	1h	0.6002	−0.061%	$108K	$813K	5x	as long as short
edgeX PONSUSDC	+0.0618%	4h	0.6003	−0.045%	$18K	$291K	10x	as long as short
KuCoin PONSUSDTM	+0.0694%	4h	0.6001	−0.082%	$1.6M	$3.8M	20x	as long as short
Polymarket Perps PONS-USD	+0.0732%	1h	0.6004	−0.037%	$73K	$1.6M	3x	as long as short
BloFin PONS-USDT	+0.0842%	4h	0.6004	−0.033%	$1.8M	$956K	20x	as long as short
Pacifica PONS	+0.1081%	1h	0.6009	+0.052%	$47K	$67K	3x	as long as short
Phoenix PONS	+0.1736%	1h	0.6005	−0.010%	$37K	$109K	3x	as long as short