Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0316%/8h= +34.6% APRpaid last 24h +0.089%

Price spread now: edgeX against SoDEX−0.101%45s7-day average −0.005% · 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—prices read too far apart to compare

costs, in and out, $10k−$1661.663% of the position

Long on SoDEX Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.294%+$29 on $10k

Price spread, last 3 days (all we have)+0.035%+$3 · spread now −0.101%, 7d avg −0.005%

Together, before fees+0.328%+ Points / potential airdropedgeX: Active · farm board+$33 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.097% cheaper against SoDEX than usual: you would sell low and buy high (spread −0.101% now, against its 7-day average of −0.005%). If the spread goes back, that is −$10 on $10k: about 24 hours of funding at the current rate (+$9 a day). 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	0.6030	0.0100	pay 0.0013% / 1h	25m 25s	$26K	$518K	3x
Short	edgeX PONSUSDC	0.6024	0.0416	get 0.0208% / 4h	2h 25m	$21K	$291K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.101%Rate

Funding earned: $66.37
Price spread: −0.101% → −0.005%: −$9.65
Slippage, 4 orders: −$149.26
Fee SoDEX: 4 bp × 2 orders: −$8
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$109.55
Costs to cover: 1.663%
Break-even: 18.6 days

Slippage from SoDEX: live order book, 43 min ago; edgeX: live order book, 42 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, 43 min ago	1.79 bp	62.9 bp −$63	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 42 min ago	13.02 bp	21.3 bp −$21	doesn't fit	doesn't fit	doesn't fit

PONS on 29 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	0.6020	−0.169%	$238K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5969	−1.002%	$614	$10K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.6042	+0.201%	$20K	$422K	20x	as long as short
Variational Omni PONS	+0.0100%	4h	0.6026	−0.073%	$1.4M	$4.0M	—	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.6017	−0.207%	$33K	$353K	5x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.6030	+0.010%	$2K	$3K	10x	as long as short
SunX PONS-USDT	+0.0100%	4h	0.6030	−0.003%	—	$1.3M	10x	as long as short
SoDEX PONS-USDlong	+0.0100%	1h	0.6030	long leg	$26K	$518K	3x
HTX PONS-USDT	+0.0100%	4h	0.6034	+0.073%	$64K	$509K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.6031	+0.018%	$1.7M	$3.2M	20x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH PONS	+0.0160%	1h	0.6031	+0.017%	$425K	$2.5M	3x	as long as short
Aevo PONS-PERP	+0.0184%	1h	0.6027	−0.054%	$375	—	3x	as long as short
KuCoin PONSUSDTM	+0.0218%	4h	0.6043	+0.214%	$1.7M	$3.6M	20x	as long as short
Nado PONS-PERP	+0.0224%	1h	0.6042	+0.208%	$71K	$131K	5x	as long as short
Bybit PONSUSDT	+0.0240%	4h	0.6040	+0.167%	$18.1M	$30.5M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0241%	4h	0.6041	+0.184%	$13.8M	$55.0M	20x	as long as short
Lighter PONS	+0.0248%	1h	0.6031	+0.017%	$1.7M	$884K	3x	as long as short
Bitget PONSUSDT	+0.0306%	4h	0.6046	+0.260%	$4.7M	$11.3M	20x	as long as short
Aster PONSUSDT	+0.0363%	4h	0.6029	−0.022%	$1.1M	$2.0M	20x	as long as short
BingX PONS-USDT	+0.0388%	4h	0.6043	+0.217%	—	$3.0M	—	as long as short
Extended PONS-USD	+0.0400%	1h	0.6040	+0.165%	$249K	$672K	5x	as long as short
MEXC PONS_USDT	+0.0402%	4h	0.6042	+0.201%	$7.7M	$4.7M	20x	as long as short
Binance PONSUSDT	+0.0403%	4h	0.6042	+0.201%	$39.6M	$94.7M	20x	as long as short
edgeX PONSUSDCshort	+0.0416%	4h	0.6024	−0.101%	$21K	$291K	10x
Gate PONS_USDT	+0.0452%	4h	0.6029	−0.015%	$5.3M	$6.1M	20x	as long as short
Hyperliquid PONS	+0.0686%	1h	0.6043	+0.217%	$61.5M	$28.2M	3x	as long as short
Polymarket Perps PONS-USD	+0.0739%	1h	0.6046	+0.269%	$45K	$1.5M	3x	as long as short
Pacifica PONS	+0.0869%	1h	0.6037	+0.122%	$48K	$75K	3x	as long as short
Phoenix PONS	+0.1695%	1h	0.6031	+0.027%	$31K	$107K	3x	as long as short