Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0284%/8h= +31.1% APRpaid last 24h +0.129%

Price spread now: BingX against SoDEX−0.033%7-day average +0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$151as in the Price arb table

costs, in and out, $10k−$1441.445% of the position

Long on SoDEX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.440%+$44 on $10k

Price spread, last 3 days (all we have)−0.070%−$7 · spread now −0.033%, 7d avg +0.028%

Together, before fees+0.370%+$37 on $10k · with fees, hour by hour

Funding pays, the price is against you. BingX is 0.061% cheaper against SoDEX than usual: you would sell low and buy high (spread −0.033% now, against its 7-day average of +0.028%). If the spread goes back, that is −$6 on $10k: about 17 hours of funding at the current rate (+$9 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX PONS-USD	0.6064	0.0100	pay 0.0013% / 1h	48m 53s	$26K	$529K	3x
Short	BingX PONS-USDT	0.6062	0.0384	get 0.0192% / 4h	2h 48m	—	$3.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.033%Rate

Funding earned: $59.64
Price spread: −0.033% → +0.028%: −$6.13
Slippage, 4 orders: −$126.5
Fee SoDEX: 4 bp × 2 orders: −$8
Fee BingX: 5 bp × 2 orders: −$10
Net: −$90.99
Costs to cover: 1.445%
Break-even: 17.7 days

Slippage from SoDEX: live order book, 20 min ago; BingX: live order book, 1 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, 20 min ago	1.79 bp	62.9 bp −$63	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 1 min ago	1.65 bp	10.6 bp −$11	38.2 bp −$382	164.7 bp −$16.5K	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	0.6051	−0.220%	$240K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.558%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6064	0.000%	$18K	$422K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6048	−0.271%	$1.4M	$4.1M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6051	−0.209%	$33K	$353K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6070	+0.099%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6068	+0.066%	—	$1.3M	10x	as long as short
SoDEX PONS-USDlong	+0.0100%	1h	0.6064	long leg	$26K	$529K	3x
HTX PONS-USDT	+0.0100%	4h	0.6073	+0.142%	$65K	$509K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6063	−0.016%	$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	0.6065	+0.016%	$378	—	3x	as long as short
OKX PONS-USDT-SWAP	+0.0223%	4h	0.6058	−0.099%	$13.9M	$56.0M	20x	as long as short
KuCoin PONSUSDTM	+0.0226%	4h	0.6060	−0.058%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0294%	4h	0.6061	−0.045%	$4.7M	$11.4M	20x	as long as short
Bybit PONSUSDT	+0.0320%	4h	0.6058	−0.099%	$18.2M	$30.8M	20x	as long as short
Aster PONSUSDT	+0.0350%	4h	0.6065	+0.020%	$1.1M	$2.0M	20x	as long as short
edgeX PONSUSDC	+0.0379%	4h	0.6027	−0.617%	$21K	$292K	10x	as long as short
BingX PONS-USDTshort	+0.0384%	4h	0.6062	−0.033%	—	$3.1M	—
Nado PONS-PERP	+0.0404%	1h	0.6063	−0.016%	$71K	$132K	5x	as long as short
MEXC PONS_USDT	+0.0404%	4h	0.6065	+0.016%	$7.8M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0406%	4h	0.6063	−0.020%	$39.8M	$96.0M	20x	as long as short
Extended PONS-USD	+0.0408%	1h	0.6064	−0.001%	$250K	$682K	5x	as long as short
Lighter RH PONS	+0.0432%	1h	0.6064	−0.003%	$422K	$2.5M	3x	as long as short
Lighter PONS	+0.0528%	1h	0.6063	−0.018%	$1.7M	$882K	3x	as long as short
BloFin PONS-USDT	+0.0646%	4h	0.6065	+0.016%	$1.8M	$984K	20x	as long as short
Hyperliquid PONS	+0.0752%	1h	0.6067	+0.046%	$61.7M	$28.7M	3x	as long as short
Gate PONS_USDT	+0.0840%	4h	0.6059	−0.082%	$5.3M	$6.1M	20x	as long as short
Polymarket Perps PONS-USD	+0.0846%	1h	0.6064	+0.003%	$46K	$1.6M	3x	as long as short
Pacifica PONS	+0.0869%	1h	0.6063	−0.017%	$48K	$75K	3x	as long as short
Phoenix PONS	+0.1695%	1h	0.6064	0.000%	$31K	$107K	3x	as long as short