Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0306%/8h= +33.5% APRpaid last 24h +0.084%

Price spread now: Binance against SoDEX+0.079%45s7-day average +0.005% · 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—prices read too far apart to compare

costs, in and out, $10k−$1491.490% of the position

Long on SoDEX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.283%+$28 on $10k

Price spread, last 3 days (all we have)−0.143%−$14 · spread now +0.079%, 7d avg +0.005%

Together, before fees+0.141%+$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Binance is 0.075% dearer against SoDEX than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.005%. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX PONS-USD	0.6059	0.0100	pay 0.0013% / 1h	49m 34s	$26K	$529K	3x
Short	Binance PONSUSDT	0.6064	0.0406	get 0.0203% / 4h	2h 49m	$39.8M	$95.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against SoDEX. 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 SoDEXbpFee BinancebpOrdersPrice spread, now +0.079%Rate

Funding earned: $64.16
Price spread: +0.079% → +0.005%: $7.46
Slippage, 4 orders: −$131.01
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$77.39
Costs to cover: 1.490%
Break-even: 15.4 days

Slippage from SoDEX: live order book, 19 min ago; Binance: live order book, 8 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 SoDEX live order book, 19 min ago	1.79 bp	62.9 bp −$63	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 8 min ago	1.66 bp	14.6 bp −$15	44.3 bp −$443	254.3 bp −$25.4K	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 −0.0033%	1h	0.6048	−0.186%	$240K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.480%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6064	+0.079%	$18K	$422K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6048	−0.192%	$1.4M	$4.1M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6051	−0.130%	$33K	$353K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6066	+0.112%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6063	+0.061%	—	$1.3M	10x	as long as short
SoDEX PONS-USDlong	+0.0100%	1h	0.6059	long leg	$26K	$529K	3x
HTX PONS-USDT	+0.0100%	4h	0.6063	+0.063%	$64K	$510K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6060	+0.013%	$1.7M	$3.2M	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo PONS-PERP	+0.0184%	1h	0.6062	+0.046%	$378	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0223%	4h	0.6062	+0.046%	$13.9M	$56.0M	20x	as long as short
KuCoin PONSUSDTM	+0.0226%	4h	0.6063	+0.064%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0294%	4h	0.6066	+0.116%	$4.7M	$11.4M	20x	as long as short
Bybit PONSUSDT	+0.0320%	4h	0.6061	+0.030%	$18.2M	$30.8M	20x	as long as short
Aster PONSUSDT	+0.0350%	4h	0.6065	+0.099%	$1.1M	$2.0M	20x	as long as short
edgeX PONSUSDC	+0.0379%	4h	0.6027	−0.539%	$21K	$292K	10x	as long as short
BingX PONS-USDT	+0.0384%	4h	0.6066	+0.112%	—	$3.1M	—	as long as short
MEXC PONS_USDT	+0.0404%	4h	0.6063	+0.063%	$7.8M	$4.7M	20x	as long as short
Binance PONSUSDTshort	+0.0406%	4h	0.6064	+0.079%	$39.8M	$95.9M	20x
Extended PONS-USD	+0.0408%	1h	0.6063	+0.066%	$250K	$682K	5x	as long as short
Nado PONS-PERP	+0.0418%	1h	0.6064	+0.074%	$71K	$132K	5x	as long as short
Lighter RH PONS	+0.0432%	1h	0.6061	+0.036%	$422K	$2.5M	3x	as long as short
Lighter PONS	+0.0464%	1h	0.6062	+0.050%	$1.7M	$882K	3x	as long as short
BloFin PONS-USDT	+0.0640%	4h	0.6045	−0.234%	$1.8M	$980K	20x	as long as short
Hyperliquid PONS	+0.0761%	1h	0.6066	+0.104%	$61.7M	$28.7M	3x	as long as short
Gate PONS_USDT	+0.0840%	4h	0.6057	−0.036%	$5.3M	$6.1M	20x	as long as short
Polymarket Perps PONS-USD	+0.0844%	1h	0.6062	+0.048%	$46K	$1.6M	3x	as long as short
Pacifica PONS	+0.0869%	1h	0.6063	+0.062%	$48K	$75K	3x	as long as short
Phoenix PONS	+0.1695%	1h	0.6016	−0.713%	$31K	$107K	3x	as long as short